Plant Growth Regulators Market 1

Plant Growth Regulators Market Research Report
Plant Growth Regulators Market Research
Report – Global Forecast till 2023
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Plant Growth Regulators Market Research Report
Plant Growth Market Highlights
Plant growth regulators, also known as PGRs, are used to promote or inhibit plant
growth. The global plant growth regulators market is a highly fragmented market
with numerous small-scale and large-scale players operating in both regional and
international market. Owing to which the market is exhibiting intense competition
among the players. In order to gain a competitive edge, market players are
differentiating their products based on product quality, shelf-life, ease of application,
price, and product effectiveness among few other attributes. In addition, prominent
vendors are also focusing on mergers & acquisitions, new product launches, and
expansion to gain market dominance.
By origin, the global Plant Growth Regulators Market has been classified as
natural and synthetic. The synthetic segment gained the highest market share in
2017 owing to the high sales volume. The ease of production and immediate &
efficient results of synthetic plant growth regulators is driving the segment growth.
However, the natural segment is expected to grow at a higher CAGR owing to the
adoption of organic agricultural practices.
Based on crop type, the market is segregated as pulses & oilseeds, grains & cereals,
fruits & vegetables, turf & ornaments, and others. The grains & cereals segment is
anticipated to lead the global plant growth regulators market during the assessment
period due to the higher production of grains & cereal crops. However, fruits &
vegetables segment is expected to experience a higher growth rate during forecast
period owing to the increasing demand for horticultural produce.
By product type, the global plant growth regulators market has been classified as
auxins, gibberellins, ethylene, cytokinins, abscisic acid, and others. The cytokinins
segment is anticipated to gain major share in the global plant growth regulators
market due to ability to delay leaf senescence. However, the gibberellins segment is
anticipated to project a higher CAGR during the forecast period due to its increasing
use in horticulture.
Based on form, the market is segregated into granules, powder, and liquid. The
granules segment gained the highest market share in 2017 as they are comparatively
less toxic, easy to handle & transport, and is a stable form of product. However, the
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Plant Growth Regulators Market Research Report
liquid segment is expected to register a higher CAGR due to the rising adoption of
foliar spray as a mode of application.
Regional Analysis
Based on region, the global plant growth regulators market has been segmented into
North America, Europe, Asia-Pacific, and RoW. Europe is anticipated to account for
the largest revenue share in the global plant growth regulators market due to the
rising production of agricultural produce in the region. Moreover, the adoption of new
technologies and methodologies in agriculture is also boosting the market growth in
the region.
North America is also expected to garner a significant share in the global market due
to a rise in the cultivation of horticultural crops in the region, especially grapes. Asia-
Pacific is anticipated to project the highest growth rate during the forecast period as
market players are expanding their operations in the Asia-Pacific market.
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Key Players
Some of the key players in the global plant growth regulators market are China
National Chemical Agrochemical Corporation (China), Platform Specialty Products
Corporation (US), BASF SE (Germany), Bayer AG (Germany), DowDuPont (US),
NIPPON SODA CO., LTD. (Japan), Nufarm Limited (Australia), Sumitomo Chemical
Co., Ltd. (Japan), FMC Corporation (US), Tata Chemicals Ltd. (India), and Xiny(H.K.)
Industrial Co., Ltd. (China).
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