The global plant growth regulators market is envisioned to garner $2.2 billion by 2031, growing from $7.4 billion in 2021 at a CAGR of 13.9% from 2022 to 2031.
Plant growth regulators (PGRs) are chemicals that are used to manipulate plant development by boosting branching, limiting shoot growth, enhancing return bloom, eliminating surplus fruit, or changing fruit maturity.
Rapid urbanization has led to significant changes, including shifting lifestyle conditions, which has resulted in changes in people’s diets and demands. The agricultural or arable land necessary for crop production in order to feed the rising population is reducing as the majority of the people shift to urban regions from rural areas. This has eventually led to an increase in demand for commercial greenhouses, which may be utilized to produce a range of crops under controlled conditions irrespective of the season or changing climatic conditions. These factors are anticipated to show the fastest growth during the forecast period.
Organic farming is a difficult process, and producers must have a high degree of expertise and knowledge linked to the specialized market in order to obtain the intended impact and outcome. However, there has been minimal interchange of organic farming techniques among farmers in developing nations. Lack of understanding of plant growth regulators is a barrier for plant growth regulator providers as well as the market.
Plant growth regulators can help increase bloom rate, accelerate plant development, and delay the commencement of root crop sprouting. Such favorable effects modify plant nutrition and benefit commercial agribusinesses in increasing crop production quality and quantity. Plant growth regulators are known for fostering growth and development in both ideal and stressful circumstances. Reducing crop loss as a result of these climatic variations is a significant challenge that demands for major changes to crop development programmers and agronomic methods. Plant growth regulators are helpful methods to resist these stressors and climatic variance for sustainable crop production in such circumstances.
The COVID-19 pandemic has had a negative effect on the market for plant regulators globally. Due to disruptions in the global supply chains and a change in the competitive standing of manufacturers/producers, the market for plant growth regulators like gibberellic acid has been severely impacted across a range of end-use applications. The growth of the worldwide plant growth regulators market was constrained by the absence of unrestricted worker mobility during the COVID-19 outbreak, which is necessary for the application of gibberellins in agricultural fields. However, it is anticipated that when manufacturers release new goods and economies stabilize, market demand will return to normal during the forecast period.
The key players profiled in this report include BASF SE, Bayer Crop Science, Corteva Agriscience, Crop Care Australasia Pty Ltd., Barclay Crop Protection, Sumitomo Chemical Australia Pty Ltd., NuFarm Ltd., Redox Industries Ltd., Xinyi (H.K.) Industrial Co. Ltd., and Sichuan Guoguang Agrochemical Co. Ltd.
Plant growth regulators (PGRs) are chemicals that are used to manipulate plant development by boosting branching, limiting shoot growth, enhancing return bloom, eliminating surplus fruit, or changing fruit maturity.
Rapid urbanization has led to significant changes, including shifting lifestyle conditions, which has resulted in changes in people’s diets and demands. The agricultural or arable land necessary for crop production in order to feed the rising population is reducing as the majority of the people shift to urban regions from rural areas. This has eventually led to an increase in demand for commercial greenhouses, which may be utilized to produce a range of crops under controlled conditions irrespective of the season or changing climatic conditions. These factors are anticipated to show the fastest growth during the forecast period.
Organic farming is a difficult process, and producers must have a high degree of expertise and knowledge linked to the specialized market in order to obtain the intended impact and outcome. However, there has been minimal interchange of organic farming techniques among farmers in developing nations. Lack of understanding of plant growth regulators is a barrier for plant growth regulator providers as well as the market.
Plant growth regulators can help increase bloom rate, accelerate plant development, and delay the commencement of root crop sprouting. Such favorable effects modify plant nutrition and benefit commercial agribusinesses in increasing crop production quality and quantity. Plant growth regulators are known for fostering growth and development in both ideal and stressful circumstances. Reducing crop loss as a result of these climatic variations is a significant challenge that demands for major changes to crop development programmers and agronomic methods. Plant growth regulators are helpful methods to resist these stressors and climatic variance for sustainable crop production in such circumstances.
The COVID-19 pandemic has had a negative effect on the market for plant regulators globally. Due to disruptions in the global supply chains and a change in the competitive standing of manufacturers/producers, the market for plant growth regulators like gibberellic acid has been severely impacted across a range of end-use applications. The growth of the worldwide plant growth regulators market was constrained by the absence of unrestricted worker mobility during the COVID-19 outbreak, which is necessary for the application of gibberellins in agricultural fields. However, it is anticipated that when manufacturers release new goods and economies stabilize, market demand will return to normal during the forecast period.
The key players profiled in this report include BASF SE, Bayer Crop Science, Corteva Agriscience, Crop Care Australasia Pty Ltd., Barclay Crop Protection, Sumitomo Chemical Australia Pty Ltd., NuFarm Ltd., Redox Industries Ltd., Xinyi (H.K.) Industrial Co. Ltd., and Sichuan Guoguang Agrochemical Co. Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plant growth regulators market analysis from 2021 to 2031 to identify the prevailing plant growth regulators market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the plant growth regulators market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global plant growth regulators market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Auxins
- Gibberellins
- Cytokinins
- Absicisic Acid
- Ethylene
By Crop Type
- Cereals
- Oilseeds and Pulses
- Fruits and Vegetables
- Turf and Ornamentals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- Bayer Crop Science AG
- Corteva Agriscience
- Syngenta AG
- Nufarm
- Sumitomo Chemical Australia
- TATA chemicals limited
- Arysta Life science
- FMC Corporation
- UPL Limited
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PLANT GROWTH REGULATORS MARKET, BY TYPE
CHAPTER 5: PLANT GROWTH REGULATORS MARKET, BY CROP TYPE
CHAPTER 6: PLANT GROWTH REGULATORS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Plant Growth Regulators Market," the plant growth regulators market was valued at $2.2 billion in 2021, and is estimated to reach $7.4 billion by 2031, growing at a CAGR of 13.9% from 2022 to 2031.Plant growth regulators (PGRs) are chemicals that control how plants grow and are typically only active at extremely low concentrations. Both natural and synthetic regulators are created by plants; the ones that are found naturally in plants are known as phytohormones or plant hormones. Plant growth regulators performance is affected by a variety of factors, including how well the chemical is absorbed by the plant, the vigor and age of the tree, cultivar, and weather conditions before, during, and after application.
Plant growth regulators are chemical compounds that have a substantial influence on plant cell, tissue, and organ development and isolation. Plant growth regulators act as chemical messengers, allowing cells to interact with each other. Natural plant growth regulators are produced with minimal qualities in specific plant parts and migrate to other parts, manipulating several physiological functions to regulate plant growth such as promoting plant cell division and cell expansion, leaf expansion, retarding leaf senescence, ripening of fruits and vegetables, fruits and flower maturation, and seed germination. Plant hormones are classified into five groups: auxins, gibberellins, cytokinins, abscisic acid (ABA), and ethylene. They collaborate to coordinate plant cell growth and development.
Plant growth regulators are in high demand because of their ability to reduce lodging in intensive cereal production, control shoot heights, and stimulate latex flow in rubber plants. These factors stimulate plant growth and accelerate production when compared to traditional fertilizers, which is expected to have a positive impact on market growth in the coming years. Furthermore, altering climatic circumstances during the conventional way of farming are leading to the adoption of commercial greenhouses, which is driving the installation of commercial greenhouses and further propagating market expansion over the forecast period. Additionally, North America and Europe are most likely to hold a significant market share in the commercial greenhouse industry, while Asia-Pacific is expected to be the fastest-growing region. With rising urbanization and individuals' altering lifestyles, the market for plant growth promoters is developing at a significant rate, with the surge in commercial greenhouse market growth to feed the growing urban population.
Agricultural production optimizes yields from a single harvest by leveraging large beginning expenditures. Seed, agrochemicals, machinery, and other items are also included in these prices. Adding productivity-boosting inputs is not economically viable for small farms since it incurs expenditures that the majority of farmers cannot afford. For instance, South Asia and Sub-Saharan Africa do not invest sufficiently in agriculture, which results in subpar productivity. The effects of this phenomena on global food security and the standard of living for those who labor in the primary sector are significant. Additionally, rising markets such as Brazil and India generate a considerable amount of cotton, fruits, and vegetables. There is an increasing need for plant growth regulating products in these markets for producing high-value crops such as grains and oilseeds, which is expected to boost the growth of the worldwide plant growth regulators market during the forecast period.
The plant growth regulators market is segmented into type, crop type, and region. As per type, the market is classified into auxins, gibberellins, cytokinins, absicisic acid, and ethylene. According to crop type, it is divided into cereals, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
The key players profiled in the study include BASF SE, Bayer Crop Science, Corteva Agriscience, Crop Care Australasia Pty Ltd., Barclay Crop Protection, Sumitomo Chemical Australia Pty Ltd., NuFarm Ltd., Redox Industries Ltd., Xinyi (H.K.) Industrial Co. Ltd., and Sichuan Guoguang Agrochemical Co. Ltd. The key players in the market have been actively engaged in the adoption of various strategies such as acquisition, product launches, and expansion to remain competitive and gain an advantage over the competitors in the market. For instance, in July 2021, Sumitomo Chemical has acquired regulatory clearance in the U.S. for the registration of Accede, its novel plant growth regulator. According to Sumitomo Chemical Company's news release, Accede is a fruit thinner that Sumitomo Chemical created as one of the biorationals as a consequence of worldwide research and development collaboration for more than a decade in biorationals among Sumitomo Chemical and Valent BioSciences (VBC).
Key Market Insights
- Based on type, the auxins sub-segment held a dominant position in 2021 and the cytokinins sub-segment is anticipated to be the fastest growing during the forecast period.
- Based on crop type, the cereals sub-segment emerged as the global leader in 2021 and the fruits and vegetables sub-segment is anticipated to be the fastest growing during the forecast period.
- Based on region, Europe accounted for the dominant market share in 2021 and the Asia-Pacific region is projected to account for a significant growth rate during the forecast period.
Companies Mentioned
- BASF SE
- Bayer Crop Science AG
- Corteva Agriscience
- Syngenta AG
- Nufarm
- Sumitomo Chemical Australia
- TATA chemicals limited
- Arysta Life science
- FMC Corporation
- UPL Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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