The Report “Global Plant Growth Regulators Market By Size, By Share, Market Segmentation, By Type, By End-User Industry, Geography (North America, Asia-Pacific, South America, Europe, Middle East and Africa) By Company Profile, Forecast 2018-2024”.
The global Plant growth regulators market is anticipated to achieve USD 3.01 Billion by 2024 from USD 2.11 Billion in 2017, at a CAGR of 6.8%.
Plant growth regulators are defined as the plant hormones (chemicals) that regulate the plant growth. Plant growth regulators act as a messenger for intercellular communication.
They are sectioned into five groups. They are auxins, gibberellins, cytokinins, abscisic acid (ABA) and ethylene.
All these five work together coordinating the growth of cells.
Global Plant Growth regulators market is predicted to have huge market share in forecast period
Plant growth regulators are referred to natural or synthetic substances which influence the development and growth. All plant hormones are plant growth regulators but not vice versa.
The primary driving force for plant growth regulators industry is the organic food industry which is growing and having the highest market share in the forecast period. The awareness among the farmers about plant growth regulator market is increased, this acts as a factor for a hike in the market.
Cytokinins have the highest share in the market
Plant growth regulators are sectioned into five groups among them cytokines has the highest percentage in the market as they enhance stress tolerance and stimulate protein synthesis. As the demand for medicinal plants and landscaping is increasing auxin holds the second largest section.
Global Plant growth regulators market is profuse in Europe
Global plant regulators market has the highest share as there is rapid technical advancements, government encouragement for organic farming, and increase in crop production. Europe holds 45% market share globally, and it is high concerning consumption.
North America is the second largest as growth rate is increasing. Asia Pacific to have the highest CAGR in the forecast period.
Key participants in the plant growth regulators market are manufacturers, irrigation system manufacturers & suppliers, end users, and retail channels/supermarkets. The top players in global plant growth market are BASF (Germany), Dow Chemical (US), Syngenta (Switzerland), FMC Corporation (US), and Nufarm (Australia).
Other players include Bayer CropScience (Germany).
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