The plant growth regulators market is projected to grow at a CAGR of 3.6% from 2015 to reach a projected value of USD 1.91 Billion by 2020. The market growth is driven by growing customer attention towards enhancing the premium value of fruits, vegetables, ornamentals and other permanent crops. The market is further driven by factors such as technology and product development of innovative plant growth regulators that can be cost-effective as well as used on a wide range of crops.
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The report "Plant Growth Regulators Market by Type (Auxins, Cytokinins, and Gibberellins), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Turfs, Ornamentals & Others), & by Region - Global Trends & Forecast to 2020", The plant growth regulators market is projected to grow at a CAGR of 3.6% from 2015 to reach a projected value of USD 1.91 Billion by 2020
Browse 72 market data tables and 54 figures spread through 152 pages and in-depth TOC on “Plant Growth Regulators Market by Type (Auxins, Cytokinins, and Gibberellins), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Turfs, Ornamentals & Others), & by Region - Global Trends & Forecast to 2020”
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The plant growth regulators market is projected to grow at a CAGR of 3.6% from 2015 to 2020. Quality requirement in industrial traded goods manufactured from high-value agricultural commodities has been of importance to the growth of the plant growth regulators market.
Plant growth regulators offer several advantages compared to fertilizers to improve productivity such as increased yield, reduced labor costs, simple application process, and lesser application than conventional fertilizers.
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Hence, plant growth regulators will be viewed as a business opportunity in the next five years. As a result, many multinational players have entered into the production of varied types of plant growth regulators.
Significant growth in gibberellin products observed in Asia-Pacific region
The plant growth regulators market for these is mainly driven by the fact that they help in stem elongation, fruit enlargement, cell division, and root shedding, thereby increasing production. These PGRs are driven by increasing requirement for them in fruits & vegetables cultivation.
Strong product platform provided by fruits and ornamental crops
The crop types that use plant growth regulators include cereals & grains, oilseeds & pulses, fruits & vegetables, and turfs, ornamentals & others. The demand for them is driven by consumer awareness about premium quality crops and effective reduction of environmental risks caused by fertilizers and herbicides.
Innovative, natural, and cost-effective solutions – key to success in Asia-Pacific region
China and New Zealand constituted the largest country markets in the Asia-Pacific region in 2014. Strong adoption of modern agricultural practices in Asian countries has led to wide-scale usage of PGRs in regions associated with intensive agricultural farming.
Europe dominated the market and accounted for the largest market share globally, as these products have been achieving acceptance even among cereal growers in this region.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such FMC Corporation (U.S.), Syngenta AG (Switzerland), The Dow Chemical Company (U.S.), BASF SE (Germany), and Nufarm Limited (Australia).
In terms of insights, this research report has focused on various levels of analysis industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global plant growth regulators market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
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