Plant growth regulators market is estimated to be valued at 2.11 billion in 2017, and projected to grow at a CAGR of 6.8%, to reach USD 2.93 billion by 2022.
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The key players in the Plant Growth Regulators Market include – BASF (Germany), Dow Chemical (US), Syngenta (Switzerland), FMC Corporation (US), Nufarm (Australia), Bayer CropScience (Germany), Nippon Soda (Japan), Tata Chemicals (India), Valent Biosciences (US), Xinyi Industrial (China), ADAMA (Israel), Arysta LifeScience (France).
Europe formed the largest market for plant growth regulators in 2016, whereas the RoW region is projected to be the fastest-growing market during the forecast period. Owing to the decreasing agricultural land in the European region, the demand for plant growth regulators in Europe is the largest.
The rising in investment in agricultural activities in developing countries such as Brazil, Argentina, and Chile, contributes to the growing demand for plant growth regulators in the RoW region, thereby marking the region the fastest-growing market in this domain.
The global plant growth regulators market is segmented region-wise, with a detailed analysis of each region by studying key markets. These regions include North America, Europe, Asia Pacific, and the Rest of the World (RoW).
- Plant growth regulator manufacturers
- Plant growth regulator raw material suppliers
- Plant growth regulator product exporters & importers
- Irrigation system manufacturers and suppliers
- Crop protection chemical manufacturers
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Based on function, the plant growth promoters segment accounted for the largest share of the market in 2016.These substances are obtained either synthetically or biologically of which biological plant growth promoters are more effective and safe. Plant growth promoters are used for improving the quality and productivity of crops.
Based on crop type, the cereals & grains segment accounted for the largest share during the forecast period. Plant growth regulators (PGRs) work on cereals & grains in a way that they shorten the height and straw length of the plant.
PGRs are widely used on cereals such as wheat, barley, oats, rye, and triticale. Cereals form the key segment of the plant growth regulators market as corn, wheat, and rice are grown abundantly in different countries across the Asia Pacific region.
The growing demand for wheat, rice, and corn in the Asia Pacific region has contributed to the growth of the plant growth regulators market here.
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The report segments the plant growth regulators market on the basis of type, crop type, formulation, function, and region. In terms of insights, this research report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the plant growth regulators market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
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