According to the new market research report by IndustryARC titled “Plant Growth Regulators Market: By Type of PGR (Cytokinins, Auxins, Gibberellins, Ethylene/Ethylene Releasers, Mepiquat Chloride); By Type of crop (Row Crops, Fruits & Vegetables, Turfs and Ornamentals); By Region (Americas, Europe, APAC, RoW) – Forecast (2018-2023)”, the market is growing steadily due to the mixed growth exhibited in different regions.
The global market for Plant Growth Regulators was estimated to be at $1.55 billion in 2017 and it was projected to reach up to $2.036 billion by 2023. The market for cytokinins used in row crops was the largest accounting for $351.0 million in 2017 and it is estimated to reach $456.37 million by 2023, growing at a CAGR of 4.4%. There is a huge demand for cytokinins owing to their ability to induce drought resistance and stress tolerance in the crops such as cotton and sunflower. The market for cytokinins was rapidly growing in fruits and vegetables, exhibiting a growth of 5.3% to reach $90.7 million by 2023.
Europe continues to lead the market share during 2018-2023.
Europe held the largest market share, generating $611.1 million in 2017. It exhibited comparatively slow growth due to the market saturation. APAC is the fastest growing region and it is forecast to generate revenue of $555.38 million by 2023 from $ 255.7 million in 2017 with a CAGR of 9%. This growth can be attributed to the presence of various developing countries like India and China, which are trying to adopt new technologies and crop protection methods in agriculture. In North America, U.S. held the largest market share for PRGs. The market is propelled by the huge cotton industry and the new and emerging organic farming practices observed in the U.S.
Selected / Sample Analysis done in the full Report:
A value chain describes a series of stages that are involved in the industry from sourcing raw materials to distribution to end user and the value addition done at each stage. Various stakeholders involved in the global PGR plant growth regulator market are as follows:
Plant Growth Regulators Manufacturing Companies
PGR manufacturers source the raw materials and the active ingredients upon acquiring knowledge from the company’s R&D division, or by collaborating with the research institutes. Once the formulations are finalized and patent filings are finished from the manufacturer’s end, the commercial product manufacturing gets started. The finished products are then packaged and stored under appropriate conditions, followed by global distribution. At the regional level, the products are distributed by regional distributors to the wholesalers and retailers and finally, the products reach the end users such as farmers, plant breeders and turf grass growers.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
Global growing demand for cotton is fueling the use of Plant Growth Regulators in cotton cultivation to meet the requirement. This is one of the key driving factors for the growth of PGR market in the world, especially in the APAC and Latin American regions where cotton production is significantly high.
The need to improve the yield of food crops to cater to the food requirements of the increasing world population is another important point that propels Plant Growth Regulators market.
Developing PGRs for the purpose of inducing qualities like drought resistance and stress tolerance in plants to improve the life and quality of the crop is a potential opportunity for the growth of PGR market.
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Key Players of the Plant Growth Regulators Market:
BASF SE and Syngenta AG are the 2 dominant companies due to their strong product portfolio and a wide distribution network globally. They have consolidated their business by leveraging their product portfolio and utilizing their distribution network. Rest of the industry is highly fragmented with many small firms having their shares.
The small companies are vying for increasing their share with new product launches. The major players are consolidating their market presence by targeting new markets with their existing product portfolio and forging distribution agreements. This helps companies to mutually leverage their competences and further expand their businesses.
Plant Growth Regulators Market Report is Segmented as below.
Plant Growth Regulators Market By PGR Type:
Plant Growth Regulators Market By Crop:
Fruits and Vegetables
Turf and Ornamentals
Plant Growth Regulators Market By Geography ( Covers 14+ Countries )
Plant Growth Regulators Market Entropy
Companies Citied / Interviewed
Bayer CropScience AG
Sumitomo Chemical Company, Limited.
Sichuan Guoguang Agrochemical Co. Ltd.
Xinyi (H.K.) Industrial Co. Ltd.
American Vangaurd Corporation
Fine Holdings Ltd.
Adama Agricultural Solutions Ltd.
Arysta Lifescience Corporation
Loveland Products, Inc.
Se Pro Corporation TUV Rhineland
What can you expect from the report?
The Plant Growth Regulators Market Report is Prepared with the Main Agenda to Cover the following 20 points:
Market Size by Product Categories
Top 10 End user Analysis
Merges & Acquisition Analysis
Demand Analysis ( By Revenue & Volume )
Country level Analysis (10+)
Market Shares Analysis
Value Chain Analysis
Supply Chain Analysis
Current & Future Market Landscape Analysis
Revenue and Volume Analysis
Frequently Asked Questions:
Does IndustryARC publish country, or application based reports in Plant Growth Regulators Market?
Response: Yes, we do have separate reports and database as mentioned below:
North America Market for Plant Growth Regulators (2018-2023)
Europe Market for Plant Growth Regulators (2018-2023)
Asia-Pacific Market for Plant Growth Regulators (2018-2023)
Row Crops Market for Plant Growth Regulators (2018-2023)
Turf and Ornamentals Market for Plant Growth Regulators (2018-2023)
Fruits and Vegetables Market for Plant Growth Regulators (2018-2023)
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