The global plant growth regulators market size is estimated to reach USD 2.20 billion in 2018 and is expected to grow with a CAGR of 6.47% and to reach USD 3.98 billion by 2026.
Plant growth regulators are the chemical substances that firmly esteem the growth and segregation of plant tissues, cells, and organs. These plant growth regulators are to upgrade the biological response of the plants. It aids the expansion and growth of plants including the formation of flowers and leaves, widening of stems, and enhancement of fruits.
Plant growth regulators are the normal and artificial chemicals applied or sprinkled for a speed that provides growing disease and insect resistance. Across the horticulture and agricultural production systems, plant growth regulators have become an integral part.
Factors like rising demand for organically produced plant crops are prepared to propel market growth. Consumers choose healthier and more nutritious diet options for the fruits and vegetable market demand. Moreover, the demand for plant growth regulators is fostering due to the downturn farming is integrated with mushrooming demand for organic food.
Ongoing research and development activities integrated with growing investments in agricultural activities provide profitable growth opportunities.
However, the absence of knowledge in farming in rural areas and ignorance in farmers hinders the market growth in the plant growth regulators market.
Market Size Available
2020 – 2026
2021 – 2026
By Type, Crop Type, Formulations, Function, and Region
North America, APAC, Europe, LATAM, MEA
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The global plant growth regulators market has been segmented and sub-segmented based on the following categories:
Cytokinins type is preceding the plant growth regulators market with the highest market share. Cytokinins are mostly consumed and hold up to 40% of the market share. Cytokinins are the quickest-growing across the timeline period. Cytokinins develop stress patience and foster protein synthesis.
Auxins segment is likely to have an average growth rate over the forthcoming years. To regulate the growth process in the plant cells, auxins are used as rooting hormones. Auxins are more efficient when collaborating with cytokinins to select their effects.
By crop type, the fruits and vegetable segment acquired the highest share in 2017. The demand for food is increasing enormously with the growth in the population at the global level. Most of the plant growth regulators are organic because of which the fruits and vegetable application is booming. Consumers are more knowledgeable about fruits and vegetables and their surging salary levels.
The cereals and grains segment is expected to experience substantial growth in the plant growth regulators market. The demand for organic cereals and grains from developed and developing regions is forcing the farmers to cultivate more organic crops predicted to boost the cereals and grains segment growth.
During the plant growth stages, the promoters segment has a positive influence on the plant growth regulators market. The demand for plant growth promoters is mounting in different fruits and vegetables to amplify the flowering process for the increase in yield. The above-mentioned factors magnify the rising demand for promoter function segment growth.
The plant growth inhibitors are used to impede plant growth processes like root and stem strengthening, seed germination, and bud opening.
By formulation, the water-dispersible and water-soluble granules segment accounts for the largest share in the plant growth regulators. The segment provides great stability and easy handling during the supply chain activities.
Europe is dominating the plant growth regulators market in terms of revenue. The growth in Europe owes to the dwindling number of arable land and the endorsement of governments for organic farming. In Europe, the total area under organic farms was more than 12million hectares and is expected to grow with a strong CAGR. The demand for fruits and vegetables combined with the growing number of the organic number of certified organic farmlands urge the plant growth regulators applications to mushroom agronomic fields.
North America accounts for the second-largest region growing in terms of revenue. The rising health issues mount the demand for fruits and vegetables as consumers select healthy and more nutritious diet options. The easy availability of advanced technologies and highly experienced professional farming are propelling the market demand.
Asia-Pacific is scheduled to hold an immense share in the plant growth regulators globally. The endless fall in agricultural land, rising population, and the demand for food have carted growers to use organized agri-inputs like plant growth promoters. Australia, China, India, and Japan are contributing a major share to the plant growth regulators market.
Latin America - Developing countries like Brazil have a strong production of fruits and vegetables, and cotton.
The Middle East and African market for plant growth regulators are anticipated to grow with a CAGR of 6.2% throughout the forecast period. In Egypt and South Africa, the demand for fruits is increasing and the application for plant growth regulators on fruit crops is increasing endlessly.
South Africa is the quickest-growing plant growth regulators market across the period. In Africa, plant growth regulators are increasingly used for vegetables like onions, tomatoes, and potatoes. The fruit cultivation is mounting which is driving the PGR market growth. The demand for plant growth hormone is high in South Africa. For example, Zagro partnered with local retailers to stimulate the plant growth regulator market share.
Key Market Players
Syngenta (Switzerland), BASF (Germany), The Dow Chemical Company (US), Bayer CropScience (Germany), Nufarm (Australia), and ADAMA (Israel) are the top key players in the plant growth regulators market.
Recent Market Developments
The widespread of the novel coronavirus (COVID-19) has spread to every corner of the world. During the first half of the pandemic period and due to severe lockdowns, the supply of raw materials required for plant growth has paused. Later, once the lockdown has lifted, the agriculture sector has seen a positive impact.
Chapter 1. Global Plant Growth Regulators Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Global Plant Growth Regulators Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Global Plant Growth Regulators Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Global Plant Growth Regulators Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Global Plant Growth Regulators Market – Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Global Plant Growth Regulators Market – By Type
6.2.1. Indoleacetic acid (IAA)
6.2.2. 1-Naphthaleneacetic acid (NAA)
6.2.3. Indole-3-butyric acid (IBA)
6.2.4. 2,4-D (2,4-Dichlorophenoxyacetic acid)
6.5. Abscisic acid
Chapter 7. Global Plant Growth Regulators Market – By Crop Type
7.1. Cereals & Grains
7.2. Oilseeds & Pulses
7.2.2. Cotton Seed
7.5. Turf & Ornamentals
Chapter 8. Global Plant Growth Regulators Market – By Formulations
8.1. Water-Dispersible & Water-Soluble Granules
8.2. Wettable Powders
Chapter 9. Global Plant Growth Regulators Market, By Function
9.1. Plant Growth Promoters
9.2. Plant Growth Inhibitors
Chapter 10. Global Plant Growth Regulators Market , By Geography – Market Size, Forecast, Trends & Insights
10.1. North America
10.2.7. Rest of Europe
10.3. Asia Pacific
10.3.2. South Korea
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Middle East
10.4.3. South America
Chapter 11. Global Plant Growth Regulators Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
11.1. Company 1
11.2. Company 2
11.3. Company 3
11.4. Company 4
11.5. Company 5
11.6. Company 6
11.7. Company 7
11.8. Company 8
11.9. Company 9
11.10. Company 10
Primary & Secondary Sources to Collect & Validate Data
Utilization of Both Top Down & Bottom Up Approach
Holistic Research Methodology
Scope & Introductory Research
In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.
Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders.
At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.
At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.
Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report.
Quality Assurance & Report Preparation
Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.