Global Plant Growth Regulators Market Insights Forecasts to 2033

• The Global Plant Growth Regulators Market Size was Valued at USD 3.79 Billion in 2023
• The Market Size is Growing at a CAGR of 9.19% from 2023 to 2033
• The Worldwide Plant Growth Regulators Market Size is Expected to Reach USD 9.13 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

 

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The Global Plant Growth Regulators Market Size is Anticipated to Exceed USD 3.79 Billion by 2033, Growing at a CAGR of 9.19% from 2023 to 2033.

 

Market Overview 

Plant growth regulators are organic chemical compounds, that regulate the physiological process of plants such as promoting, and modifying the growth and development of plants. Plant hormones are naturally occurring growth chemical components in plants and also plant growth regulators are synthetic chemicals.  Plant hormones are a kind of chemical compounds that occur naturally and affect biological processes at low concentrations. The plant growth regulator impacts the range of functions performed by plants including promoting cell division, cell enlargements, flowering, fruiting, seed formation, drought stress tolerance, frost and heat resistance, rooting, photosynthesis, etc. Plant growth regulators are applied or sprayed on seeds, foliage, and roots, to stimulate plant growth. Plant growth regulators provide eco-friendly solutions for crop production and decrease environmental impact. One of the most important roles of plant growth regulators is to reduce the effect of pesticidal stress and also help plants resist adverse conditions. Several factors increase the demand for plant growth regulators that are sustainable and organic farming, indoor farming, and advanced farming practices. As the population grows, the demand for food for consumption is also rising, resulting in increased demand for auxin, an important plant growth regulator. The demand for plant growth regulators is increasing due to the increasing popularity of nurseries, landscaping, and gardening. Protein synthesis stimulation properties of plant growth regulators are one of the key reasons for increasing demand.

 

Report Coverage

This research report categorizes the market for the global plant growth regulators market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global plant growth regulators market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global plant growth regulators market.

 

Driving Factors

The growth of resistance in certain pest and insect species is expected to drive market expansion. At the moment, excessive dependence on pesticides promotes the development of pesticide resistance in weeds, insects, and illnesses. Farmers that apply the same pesticides repeatedly initially destroy sensitive populations. However, yearly extensive use leads to a rapid increase of resistant individuals, ultimately resulting in population resistance. The growing global population and changing food choices have created a greater demand for high-quality crops. Plant growth regulators are used to improve crop yield and quality this factor increasing market demand. Plant growth regulators have improved in effectiveness and efficiency as farming practices and technologies have advanced. It has increased the demand for these products in the market. Governments around the world are launching measures to boost agriculture and increase agricultural yields. It has resulted in an increased use of plant growth regulators, which help farmers increase crop quality and productivity.

 

Restraining Factors

A significant obstacle is farmers' lack of understanding about the benefits of the plant growth regulator. Farmers frequently avoid employing them due to their excessive cost. Regulatory limits hinder their use, with extensive government rules in place. In developing countries, the scarcity of these regulators creates an extra issue. Furthermore, the market faces severe competition from alternative options, which adds to the obstacles in its way. Considering these challenges, plant growth regulators offer a viable alternative for sustainable agriculture. A significant obstacle to the growth of the global plant growth regulators market is the concern over strict regulatory guidelines regarding product usage. This results from adverse effects including allergic reactions and other health problems brought on by eating foods that are treated with plant growth regulators.

 

Market Segmentation

The global plant growth regulators market share is classified into type, crop type, and mode of application.

 

• The auxin segment is expected to hold the highest share of the global plant growth regulators market during the forecast period.   

Based on the type, the global plant growth regulators market is divided into auxins, gibberellins, cytokinin, abscisic acid, and ethylene. Among these, the auxin segment is expected to hold the highest share of the global plant growth regulators market during the forecast period. Auxins are plant hormones that are both naturally occurring and chemically manufactured. They play an important role in regulating plant growth. They promote cellular division, differentiation, and lengthening. Auxins are expected to increase moderately in the future years. It functions as a rooting hormone, controlling the growth of plant cells. The most common applications for auxins are tissue culture and plant propagation.

 

• The cereals segment accounted for the highest revenue share of the global plant growth regulators market during the forecast period.   

Based on the crop type, the global plant growth regulators market is divided into cereals, oilseeds and pulses, fruits and vegetables, turf, ornamentals, and others. Among these, the cereals segment accounted for the highest revenue share of the global plant growth regulators market during the forecast period. Growing populations and shifting consumer habits are increasing global demand for all crops, specifically grains. They help reduce post-harvest losses by postponing the ripening process, which also enables longer harvest intervals. Auxins and cytokinin are important in this application because they have the ability to increase plant vigor and production, which leads to higher yields of superior-quality products.

 

• The  foliar segment is expected to hold the largest share of the global plant growth regulators market during the forecast period.

Based on the mode of application, the global plant growth regulators market is divided into fertigation and foliar. Among these, the foliar segment is expected to hold the highest share of the global plant growth regulators market during the forecast period. Foliar application is the most regularly used method of conducting plant growth regulators. Factors such as ease of usage and higher agronomic benefits over other methods will expand the foliar segment. Furthermore, it is expected that foliar spray sales will increase as more and less significant conventional and organic farmers use it.

 

Regional Segment Analysis of the Global Plant Growth Regulators Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

 

Europe is anticipated to dominate the global plant growth regulators market over the predicted timeframe.

 

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Europe is anticipated to dominate the global plant growth regulators market over the predicted timeframe. Europe's rich agriculture industry offers vital biofertilizers. France, Germany, and the UK are major producers of plant growth regulators. Europe possessed a strong agricultural industry that produced a wide variety of crops such as fruits, vegetables, cereals, and ornamentals. Farmers and producers in the region were eager to implement cutting-edge agricultural practices that would increase crop yield, quality, and sustainability. European governments and regulatory authorities encourage ecologically friendly agriculture techniques. Incentives, subsidies, and restrictions can promote the use of plant growth regulators while discouraging excessive use of chemical fertilizers, leading to the growth of the industry. Furthermore, increased demand for vegetables and fruit in the region, as well as harsh climatic circumstances. Furthermore, Europe's well-established horticulture industry, which included floriculture and vineyards, depended significantly on PGRs to produce high-quality harvests and meet market needs.

 

Asia Pacific is expected to grow at the fastest in the global plant growth regulators market during the forecast period. This is due to increased spending funds and higher regional living standards. Plant growth regulators are widely utilized in the Asia Pacific and China. High agricultural production is essential due to the country's rapidly rising population, which raises product demand. Furthermore, the China plant growth regulators market held the greatest market share, while the India plant growth regulators market was the most rapidly expanding market in the Asia-Pacific region. Asia-Pacific countries account for a considerable share of world agricultural output. As these countries attempt to increase agricultural production to satisfy rising food demand caused by population expansion and shifting dietary habits, there is a growing need for effective solutions such as plant growth regulators.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global plant growth regulators market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• BASF SE
• Bayer Crop Science
• Corteva Agriscience
• Sumitomo Chemical Co. Ltd.
• Syngenta AG
• Valent BioSciences Corporation
• NuFarm Ltd.
• Food Machinery & Chemical Corporation
• ADAMA India Private Limited
• Nippon Soda Co. Ltd.
• Arysta LifeScience Corporation
• Tata Chemicals Limited
• Sichuan Guoguang Agrochemical Co. Ltd.
• United Phosphorus Limited
• Redox Industries Ltd.
• Others.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

 

• In March 2023, Corteva Agriscience solidified its position as a market leader in the rapidly expanding biologicals sector by completing the acquisitions of Symborg, experts in microbiological technologies based in Murcia, Spain, and Stoller, a significant independent biologicals firm based in Houston, Texas, U.S. These acquisitions strengthen Corteva's position in the market and enable it to strengthen its portfolio with plant growth regulators, allowing the company to acquire a significant market share.

 

• In January 2022, Using the highly effective active component prohexadione, BASF SE introduced Attraxor, a novel plant growth regulator that decrease the length of grass shoot growth and decrease the frequency of lawn mowing. Amenity turf and grassland management would involve sod farms, sports fields, golf courses, airfields, and embankments along roads and railroads. The company's market share in the amenity sector increased as a result of this expansion of its portfolio.

 

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global plant growth regulators market based on the below-mentioned segments: 

 

Global Plant Growth Regulators Market, By Type

• Auxins
• Gibberellins
• Cytokinin
• Abscisic acid
• Ethylene

 

Global Plant Growth Regulators Market, By Crop Type

• Cereals
• Oilseeds
• Pulses
• Fruits
• Vegetables
• Turf
• Ornamentals
• Others

 

Global Plant Growth Regulators Market, By Mode of Application

• Fertigation
• Foliar

 

Global Plant Growth Regulators Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa