Plant Growth Regulators Market: Summary
The Global Plant Growth Regulators Market is projected to reach a value of over USD 3.7 billion by 2027 at a CAGR of around 5.7%.
Plant Growth Regulators are chemical substances that are used to modify plant growth such as suppressing shoot growth, increasing branching, removing excess fruits, increasing return bloom, and altering fruit maturity. They help to save time as well as money by decreasing the frequency of mowing, reducing the need to prune shrubs and trees, and minimizing the effect of certain diseases and pest infections. Various factors affect the plant growth regulator performance that includes how chemicals are absorbed by plants, tree vigor and age, dose, timing, cultivar, and weather conditions before, during, and after application.
Plant Growth Regulators Market: Drivers & restraint
- Growing Consumer Shift Towards Organic Foods
Organic food is experiencing notable growth owing to its unique advantages such as chemical & pesticides free, eco-friendly, and very healthier as compared to inorganic food. According to Research Institute of Organic Agriculture (FiBL), as of February 2020, over 71.5 million hectares of farmlands are organic Thus, rising awareness regarding of organic food coupled with an increase in income levels, growth in environmental concerns, and increase in health hazards diseases due to inorganic foods are some of the factors attributing to the consumer shift towards organic food. Thus, consumer shift towards organic foods owing to its health benefits has expected to propel the demand for plant growth regulators during the forecasted period.
- Long Approval Period for New Products
Plant growth regulators process for approval of a new product is lengthy as it involves multi-location field trails and residual effect. Owing to the stringent regulatory approval process, the time taken to develop a new crop protection product can be prolonged making it expensive. Moreover, the patent protection of the product further adds the approval time. The regulatory bodies have inadequate resources and infrastructure to execute timely registration of the product. Sometimes, the rules are not clearly defined, creating interpretation challenges for the regulatory bodies, leading to confusion, thereby adding to the complexities for the crop protection chemical companies. Thus, a longer approval period for a new product has expected to hinder the growth of the plant growth regulators during the forecasted period.
Plant Growth Regulators Market: Key Segments
- Segmentation based on Type: Plant Growth Promoters, and Plant Growth Inhibitors.
- Segmentation based on Crop Type: Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf & Ornamentals, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Plant Growth Regulators Market: Report Scope
The report on the plant growth regulators market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Type, Crop Type, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Nufarm Ltd
- Syngenta AG
- FMC Corporation
- Adama Agricultural Solutions UK Ltd
- Bayer AG
- NIPPON SODA CO., LTD
- Tata Chemicals Ltd.
- Valent BioSciences LLC
- Fine Americas, Inc.
- Sumitomo Chemical Co., Ltd.
- Redox Industries Limited
- Xinyi(H.K.) Industrial Co. Ltd.
- Other Key Companies
Plant Growth Regulators Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Plant Growth Regulators Market, by Type
Plant Growth Regulators Market, by Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Turf & Ornamentals
Plant Growth Regulators Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Plant Growth Regulators Market Providers
- Plant Growth Regulators Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Plant Growth Regulators Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PLANT GROWTH REGULATORS MARKET STUDY