Plant Growth Regulators Market to Surpass USD 5.57 Billion by 2030 due to Rising Awareness of Crop Protection and Increasing Adoption of Precision Farming | by SNS Insider

As per SNS Insider’s research, the plant growth regulators market is poised for robust growth, driven by factors such as the increasing global population, a paradigm shift towards sustainable agriculture, advancements in biotechnology, the rise of precision farming, awareness of crop protection, and supportive government initiatives

1401 Lavaca ST 800, Austin Tx 78701


Pune, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Plant Growth Regulators Market, as per the SNS Insider report, reached a valuation of USD 3.1 billion in 2022 and is projected to reach USD 5.57 billion by 2030, experiencing a CAGR of 7.6% during the forecast period from 2023 to 2030.

Market Overview

Plant growth regulators are organic compounds that, in small quantities, have profound effects on plant growth and development. These compounds mimic or inhibit the natural hormones present in plants, thereby influencing processes such as seed germination, root development, flowering, and fruit ripening. The major classes of plant growth regulators include auxins, gibberellins, cytokinins, abscisic acid, and ethylene, each with specific functions in regulating plant physiology.

Download E-PDF Brochure: https://www.snsinsider.com/sample-request/3622 

Market Analysis

As the global population continues to burgeon, there is a corresponding rise in food demand. Plant growth regulators play a vital role in ensuring optimal crop yield, making them indispensable in modern agriculture to meet the escalating demand for food production. With a heightened awareness of environmental sustainability, there is a shift towards eco-friendly and sustainable agricultural practices. Plant growth regulators offer a sustainable solution by optimizing resource utilization, reducing the need for excessive fertilizers, and minimizing environmental impact. The integration of biotechnological tools and techniques has led to the development of genetically modified crops with enhanced resistance and improved yield. Plant growth regulators complement these advancements by fine-tuning the expression of desired traits in genetically modified plants. As farmers grapple with the challenges of pests, diseases, and adverse climatic conditions, the role of plant growth regulators in enhancing the plant's defense mechanisms becomes crucial. The plant growth regulators market is witnessing a surge in demand for PGRs with protective properties, contributing to crop resilience.

Plant Growth Regulators Market Report Scope:

Report AttributesDetails
Market Size in 2022USD 3.1 billion
Market Size by 2030USD 5.57 billion
CAGRCAGR of 12.3% by 2023-2030
Market Opportunity
  • Increasing adoption of precision agriculture techniques
  • Expanding organic farming sector and the rising trend of sustainable agriculture
Market Segments
  • By Type (Cytokinin, Gibberellins, Auxins, Ethylene, and Others)
  • By Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Turf & Ornamentals, and Others)
  • By Formulation (Water-Dispersible & Water-Soluble Granules, Solutions, and Wettable Powders)
  • By Function (Plant Growth Promoters and Plant Growth Inhibitors)
Major Market PlayersBASF SE, Bayer AG, DuPont, DSM, Nestle, Syngenta AG, Nufarm Ltd., Biosynth Carbosynth, Corteva, Inc., UPL Limited, FMC Corporation, Tata Chemicals Ltd., Sichuan Guoguang Agrochemical Co., Ltd, Sumitomo Chemical Co. Ltd., Dextra Laboratories and other key players.

Key Takeaway from Plant Growth Regulators Market Study

  • Cytokinin, a class of plant growth regulators, has garnered substantial attention due to its profound impact on various physiological processes in plants. Known for promoting cell division and influencing plant growth, Cytokinin plays a crucial role in regulating the balance between shoot and root development.
  • The Cereals & Grains segment has emerged as a powerhouse within the plant growth regulators market. With the ever-growing global population and the need to enhance food production, the demand for effective growth regulators in cereal and grain crops has skyrocketed. These regulators play a vital role in optimizing plant growth, influencing flowering, and maximizing grain production.

Recent Developments

  • The global professional services company Accenture has recently announced a significant investment in Ocean Genomics, marking a pivotal moment in the intersection of artificial intelligence (AI) and pharmaceutical research. The strategic collaboration aims to propel advancements in AI-driven drug discovery and foster the development of personalized medicine.
  • Cell Signaling Technology (CST) and Leica Biosystems have joined forces to enable the development of companion diagnostics. The collaboration is set to usher in a new era of precision medicine, where diagnostics are intricately linked to the specific genetic profiles of individual patients.

Ask For Customized Report As Per Your Business Requirement: https://www.snsinsider.com/sample-request/3622 

Market Dynamics Analysis

The plant growth regulators market is undergoing dynamic changes driven by a myriad of factors that influence the growth and development of plants. Among the key drivers is the increasing global population, which has intensified the demand for food production. PGRs play a pivotal role in enhancing crop yield and quality by regulating various physiological processes such as cell division, elongation, and differentiation. Additionally, the growing awareness and adoption of sustainable agricultural practices have fueled the demand for PGRs, as they contribute to reduced environmental impact and resource optimization. However, this burgeoning market faces its share of challenges and restraints. Stringent regulations and concerns regarding environmental safety pose hurdles for the development and commercialization of new PGR products. The industry also grapples with the need for extensive research and development investments to create innovative and effective plant growth regulators. Moreover, the threat of counterfeit products and the lack of standardized regulatory frameworks in some regions can hinder market growth.

Key Regional Developments

In North America, the plant growth regulators market is experiencing steady growth, propelled by the adoption of advanced agricultural practices and the rising awareness among farmers regarding the benefits of using PGRs. The United States and Canada are the key contributors to the market in this region. Europe is a prominent player in the global market, with countries like Germany, France, and the United Kingdom leading the way. The European agricultural sector is witnessing a shift toward precision farming and organic cultivation methods. The Asia-Pacific region dominates the market, with countries like China and India at the forefront. Rapid population growth, urbanization, and changing dietary habits are driving the demand for increased crop production.

Impact of Recession

One of the primary ways in which the recession affects the plant growth regulators market is through a reduction in agricultural investments. Farmers and agribusinesses often face financial constraints during economic downturns, leading to a decrease in the adoption of advanced agricultural technologies, including PGRs. This reduced investment can hamper the growth of the PGR market, affecting both manufacturers and suppliers. Despite the challenges posed by the ongoing recession, there are opportunities for resilience and growth within the market. Innovations in sustainable agriculture and the development of cost-effective PGR solutions can position companies to thrive even in challenging economic conditions. Additionally, governments and agricultural organizations may implement supportive policies to encourage the use of PGRs, recognizing their role in ensuring food security.

Buy This Exclusive Report: https://www.snsinsider.com/checkout/3622 

TABLE OF CONTENT

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 Impact of the Russia-Ukraine War

4.2 Impact of Ongoing Recession

4.2.1 Introduction

4.2.2 Impact on major economies

4.2.2.1 US

4.2.2.2 Canada

4.2.2.3 Germany

4.2.2.4 France

4.2.2.5 United Kingdom

4.2.2.6 China

4.2.2.7 Japan

4.2.2.8 South Korea

4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Plant Growth Regulators Market Segmentation, By Type

8.1 Cytokinin

8.2 Gibberellins

8.3 Auxins

8.4 Ethylene

8.5 Others

9. Plant Growth Regulators Market Segmentation, By Crop Type

9.1 Cereals & Grains

9.2 Fruits & Vegetables

9.3 Oilseeds & Pulses

9.4 Turf & Ornamentals

9.5 Others

10. Plant Growth Regulators Market Segmentation, By Formulation

10.1 Water-Dispersible & Water-Soluble Granules

10.2 Solutions

10.3 Wettable Powders

11.  Plant Growth Regulators Market Segmentation, By Function

11.1 Plant Growth Promoters

11.2 Plant Growth Inhibitors

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.5 USA

12.2.6 Canada

12.2.7 Mexico

12.3 Europe

12.3.1 Eastern Europe

12.3.1.5 Poland

12.3.1.6 Romania

12.3.1.7 Turkey

12.3.1.8 Rest of Eastern Europe

12.3.2 Western Europe

12.3.2.4 Germany

12.3.2.5 France

12.3.2.6 UK

12.3.2.7 Italy

12.3.2.8 Spain

12.3.2.9 Netherlands

12.3.2.10 Switzerland

12.3.2.11 Austria

12.3.2.12 Rest of Western Europe

12.4 Asia-Pacific

12.4.5 China

12.4.6 India

12.4.7 Japan

12.4.8 South Korea

12.4.9 Vietnam

12.4.10 Singapore

12.4.11 Australia

12.4.12 Rest of Asia-Pacific

12.5 Middle East & Africa

12.5.1 Middle East

12.5.1.5 UAE

12.5.1.6 Egypt

12.5.1.7 Saudi Arabia

12.5.1.8 Qatar

12.5.1.9 Rest of Middle East

12.5.2 Africa

12.5.2.5 Nigeria

12.5.2.6 South Africa

12.5.2.7 Rest of Africa

12.6 Latin America

12.6.5 Brazil

12.6.6 Argentina

12.6.7 Colombia

12.6.8 Rest of Latin America

13 Company Profile

13.1 Bayer AG

13.1.1 Company Overview

13.1.2 Financials

13.1.3 Product/ Services Offered

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 BASF SE

13.3 DuPont

13.4 DSM

13.5 Nestle

13.6 Biosynth Carbosynth

13.7 Syngenta AG

13.8 Nufarm Ltd.

13.9 Corteva, Inc.

13.10 UPL Limited

13.11 Tata Chemicals Ltd.

13.12 Sumitomo Chemical Co. Ltd.

13.13 FMC Corporation

13.14 Sichuan Guoguang Agrochemical Co. Ltd.

13.15 Dextra Laboratories

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15. USE Cases and Best Practices

16. Conclusion

Read Full Research Report: https://www.snsinsider.com/reports/plant-growth-regulators-market-3622 

About SNS Insider

At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.

 

Contact Data