Global Plant Growth Regulators Market Trends, Analysis, Growth, and Forecast: 2018 to 2027

Global Plant Growth Regulators Market Overview:

“The global Plant Growth Regulators Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Plant growth regulators are natural and synthetic chemicals that is applied or sprayed to a seed providing increasing insect and disease resistance. Plant growth regulators is widely used in horticulture and agriculture. Plant growth regulators function as chemical messengers for intercellular communication and work together for growth and development of cells. Auxins, gibberellins, and cytokinins are grouped as plant growth promoters whereas abscisic acid and ethylene are grouped as plant growth inhibitors.

Increasing preference of customer towards consumption of organic food is major factor expected to drive growth of global plant growth regulators market over the forecast period. Adoption of advance farming practices and technologies is another factor expected to support growth of market over the forecast period. Increasing demand for food products owing to the rapidly growing population as well as declining number of arable land is a major factor expected to drive the growth of the market over the forecast period.

However, stringent government regulation for the approval process is expected to limit the growth of global plant growth regulators market over the forecast period.

Manufacturing companies operating in the target market can focus on selling the product in emerging economies in Asia and Africa which can create lucrative opportunities for existing as well as new players operating in the global plant growth regulators market over the forecast period.

Europe market dominates the global plant growth regulators market in terms of revenue contribution as compared to that of markets in other regions. This attributed to the decreasing number of arable land and encouragement of government for organic farming. North America accounts for second largest revenue share contribution to the global plant growth regulators market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years. Increasing demand of organic food especially in China and India is expected to drive growth of the market in the region over the forecast period.

Global Plant Growth Regulators Market Segmentation:

Global ­­­­plant growth regulators market segmentation, by type:

• Cytokinins
• Auxins
• Gibberellins
• Ethylene
• Abscisic Acid

Global plant growth regulators market segmentation, by crop type:

• Fruits & Vegetables
• Cereals & Grains
• Oilseeds & Pulses
• Turf & Ornamentals

Global plant growth regulators market segmentation, by function:

• Plant Growth Promoters
• Plant Growth Inhibitors

Global plant growth regulators market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa