USD 4.06 billion
Plant Growth Regulators Market Size, Share, Growth Analysis, By Crop Type(Cereals & Grains ( Corn, Wheat, Rice, Other Cereals & Grains )), By Function(Plant Growth Inhibitors, and Plant Growth Promoters), By Formulation(Water-dispersible & Water-Soluble Granules, Wettable Powder, and Solutions), By Type(Cytokinins, Auxins, Gibberellins, Ethylene), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2104 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
59
|Figures:
75
Plant Growth Regulators Market Insights
Global Plant Growth Regulators Market size was valued at USD 4.06 billion in 2022 and is poised to grow from USD 4.46 billion in 2023 to USD 9.53 billion by 2031, growing at a CAGR of 9.94% during the forecast period (2024-2031).
Plant growth regulators are chemical compounds that regulate various aspects of plant growth and development. They are commonly used in agriculture to increase crop yield, improve quality, and manage plant growth. These regulators can be synthetic or naturally occurring and can influence a range of plant functions, such as cell division, elongation, and differentiation. They are commonly applied to seeds, foliage, and roots, and can be used to stimulate or inhibit growth, promote fruiting, or enhance stress tolerance. Plant growth regulators have become an important tool in modern agricultural practices, helping farmers to optimize crop production and reduce environmental impact. The report also states that the Asia Pacific market is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for food and the adoption of modern agricultural practices. The market is highly competitive, with many players focusing on increasing their product portfolios and market presence in emerging economies.
US Plant Growth Regulators Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Auxins
Fastest Growth
Auxins
Growth Rate
9.94% CAGR
Global Plant Growth Regulator Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Plant Growth Regulators Market Segmental Analysis
Global Plant Growth Regulators Market is segmented by Crop Type, Function, Formulation, Type, and region. Based on Crop Type, the market can be segmented into Cereals & Grains ( Corn, Wheat, Rice, Other Cereals & Grains ), Oilseeds & Pulses ( Cotton Seeds, Soybean, Sunflower, Other Oilseeds & Pulses ), Fruits & Vegetables (Fruits, Vegetables ), and Turf & Ornamentals. Based on Function, the market is segmented into Plant Growth Inhibitors, and Plant Growth Promoters. Based on Formulation, the market is segmented into Water-dispersible & Water-Soluble Granules, Wettable Powder, and Solutions. Based on Type, the market is segmented into Cytokinins, Auxins, Gibberellins, Ethylene, and Other Types. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Plant Growth Regulators Market Analysis by Type
By type, the market can be segmented into Auxins and Ghibellines. Auxins are plant hormones that promote cell elongation and help in the formation of roots and fruits. Auxins are expected to dominate the plant growth regulators market as they are widely used in the agriculture sector to increase crop yield and improve plant growth. The increasing demand for food due to the growing population is expected to drive the demand for auxins in the plant growth regulators market.
On the other hand, gibberellins are plant hormones that promote stem elongation, flowering, and fruit development. The use of gibberellins is growing rapidly in the plant growth regulators market due to their ability to increase crop yield and improve the quality of fruits and vegetables. Gibberellins are expected to be the fastest-growing segment in the plant growth regulators market due to the increasing demand for high-quality fruits and vegetables and the need to improve the efficiency of agricultural practices.
Plant Growth Regulators Market Analysis by Application
By application, the market can be segmented into Crop-based, and Non-Crop-based. Crop-based applications are expected to dominate the plant growth regulators market as they are extensively used to improve the quality and yield of various crops, such as cereals, oilseeds, fruits, and vegetables. The increasing global population and the rising demand for food are expected to boost the demand for crop-based applications of plant growth regulators.
Non-crop-based applications are also growing in the plant growth regulators market due to the increasing demand for ornamental plants, lawns, and turf. Non-crop-based applications of plant growth regulators are used to improve the appearance and quality of non-agricultural plants. The growing trend of landscaping and gardening in residential and commercial areas is expected to drive the growth of non-crop-based applications in the global market.
Global Plant Growth Regulator Market Size By Type, 2022 (%)
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Plant Growth Regulators Market Regional Insights
North America has historically been a dominant region in the global plant growth regulators market, accounting for a significant share of the global market. This dominance is attributed to the region's advanced agricultural practices and the presence of key market players in the region. The United States is the largest market for plant growth regulators in North America, owing to the significant adoption of plant growth regulators by farmers to improve crop yield and quality. Moreover, the region's favorable regulatory environment, advanced research and development activities, and growing focus on sustainable agriculture are driving the growth of the market in North America.
On the other hand, Asia Pacific is the fastest-growing region in the global market. The region is witnessing significant growth due to the increasing demand for food and the adoption of modern agricultural practices. Moreover, the rising population in the region has led to an increased demand for food, thereby driving the growth of the plant growth regulators market. China, India, and Japan are the major contributors to the growth of the plant growth regulators market in Asia Pacific, owing to the significant investments in agriculture and the growing adoption of advanced agricultural practices.
Global Plant Growth Regulator Market By Geography, 2022-2030
- Largest
- Fastest
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Plant Growth Regulators Market Dynamics
Plant Growth Regulators Market Drivers
Growing demand for food due to growing population
- One of the key drivers of the plant growth regulators market is the increasing demand for food due to the growing global population. As the world population continues to increase, the demand for food is also rising, and this is driving the need for efficient agricultural practices that can improve crop yields and quality. Plant growth regulators are widely used in the agriculture sector to enhance plant growth, increase yield, and protect crops from pests and diseases, which is helping farmers to meet the growing demand for food and contributing to the growth of the plant growth regulators market.
Plant Growth Regulators Market Restraints
Stringent regulations imposed by government
- One of the main restraints of the plant growth regulators market is the stringent regulations imposed by government authorities on the use of plant growth regulators in agriculture. The regulations are in place to ensure the safety of crops and consumers, and to prevent any negative impact on the environment. The strict regulatory framework can limit the adoption of plant growth regulators in agriculture, and this could hamper the growth of the market. The high cost of plant growth regulators can also act as a restraint to market growth, as it can make it unaffordable for small-scale farmers.
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Plant Growth Regulators Market Competitive Landscape
The global plant growth regulators market is highly fragmented, with the presence of numerous regional and international players. The market is characterized by intense competition, with companies focusing on developing innovative products and expanding their product portfolios. Some of the key strategies adopted by players in the market include mergers and acquisitions, partnerships and collaborations, and investments in research and development activities.
Plant Growth Regulators Market Top Player’s Company Profiles
- BASF SE
- Corteva Agriscience
- Syngenta Group
- FMC Corporation
- Nufarm
- Bayer AG
- Tata Chemicals Ltd.
- UPL
- Sumitomo Chemical Co., Ltd.
- Nippon Soda Co., Ltd.
- Sipcam Oxon Spa
- De Sangosse
- Dhanuka Agritech Ltd.
- Sichuan Guoguang Agrochemical Co., Ltd
- Zagro
- Aristo Biotech
- Hangzhou Tianlong Biotechnology Co., Ltd
- Sikko India
- Barclay Chemicals
- PBI-Gordon Companies, Inc.
Plant Growth Regulators Market Recent Developments
- In January 2023, Bayer CropScience is expected to launch "Verdia", a new plant growth regulator that helps in improving plant growth, yield and quality in various crops.
- In June 2022, Arysta LifeScience launched a new plant growth regulator called "Atonik" in the Philippines, which helps in improving plant vigor, root development, and stress tolerance.
- In April 2022, Valent U.S.A. launched "Abound® Propiconazole", a new plant growth regulator that helps in controlling diseases in fruit and vegetable crops.
- In February 2022, FMC Corporation announced the launch of "Focus® SC", a new plant growth regulator that helps in promoting fruit elongation and size in grapes and other fruits.
Plant Growth Regulators Key Market Trends
- One key market trend in the global plant growth regulators market is the increasing adoption of organic farming practices. Consumers are becoming more aware of the environmental and health benefits of organic food, leading to a surge in demand for organic products. This has resulted in a shift towards the use of plant growth regulators derived from natural sources, such as seaweed extracts and microbial products. Additionally, the growing focus on sustainable agriculture and the need to increase crop yield and quality is driving the adoption of plant growth regulators in farming practices.
Plant Growth Regulators Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global plant growth regulators market analysis, the market growth is driven by factors such as advanced agricultural practices, increasing demand for food, and favorable regulatory environments. North America dominated the global market region, while Asia Pacific is the fastest-growing region. Additionally, the increasing adoption of organic farming practices and the need for sustainable agriculture are driving the trend towards plant growth regulators derived from natural sources.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.06 billion |
| Market size value in 2031 | USD 9.53 billion |
| Growth Rate | 9.94% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Plant Growth Regulators Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Plant Growth Regulators Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Plant Growth Regulators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Plant Growth Regulators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Plant Growth Regulators Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Plant Growth Regulators Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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