Plant Growth Regulators Market Analysis, Size, Share, Trends and Report 2024-2032

Plant Growth Regulators Market Outlook

According to recent report by Expert Market Research (EMR), the global plant growth regulators market size attained a value of USD 3.58 billion in 2023. Aided by the increasing demand for sustainable agricultural practices and the expanding applications of plant growth regulators (PGRs) in various agricultural sectors, the market is projected to further grow at a CAGR of 10.4% between 2024 and 2032 to reach a value of USD 8.71 billion by 2032.

Plant growth regulators are natural or synthetic substances that influence the growth and development of plants. These regulators include auxins, gibberellins, cytokinins, ethylene, and abscisic acid, each playing a crucial role in various physiological processes such as cell division, root and shoot growth, flowering, and fruit ripening. PGRs are extensively used in agriculture to enhance crop yield, improve quality, and ensure the timely growth and development of plants.

The increasing global population and the consequent rise in food demand are driving the growth of the plant growth regulators market. With the growing need to enhance agricultural productivity and ensure food security, farmers and agricultural producers are increasingly adopting PGRs to boost crop yield and improve quality. Additionally, the rising trend of organic farming and sustainable agricultural practices has further contributed to the growing demand for plant growth regulators, as they are considered an eco-friendly alternative to conventional chemical fertilizers and pesticides.

The expanding applications of plant growth regulators in various agricultural sectors also play a significant role in propelling the market. In the horticulture sector, PGRs are used to control the growth of ornamental plants, enhance flower production, and improve the shelf life of fruits and vegetables. In the forestry sector, PGRs are employed to promote the growth of seedlings, improve tree quality, and increase timber yield. Moreover, the use of PGRs in turf management and landscape gardening has gained popularity, as they help maintain the aesthetic appeal and health of lawns and gardens.

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Industry Developments

The growing awareness of the adverse effects of chemical fertilizers and pesticides on human health and the environment has led to an increased focus on the development of eco-friendly and sustainable agricultural solutions. Plant growth regulators, being a crucial component of integrated pest management (IPM) and organic farming practices, have gained significant traction in recent years. Governments and regulatory bodies across the globe are promoting the use of PGRs by providing subsidies and incentives to farmers and agricultural producers, further boosting the market growth.

Technological advancements and innovations in the field of agricultural biotechnology have also played a pivotal role in the expansion of the plant growth regulators market. The development of novel and efficient PGR formulations, such as microencapsulated and slow-release formulations, has enhanced the efficacy and application of these regulators. Furthermore, the integration of PGRs with precision farming techniques and smart agriculture solutions has enabled farmers to optimize the use of PGRs, thereby maximizing crop yield and minimizing environmental impact.

The growing demand for high-value crops, such as fruits, vegetables, and ornamental plants, has also driven the adoption of plant growth regulators. PGRs play a vital role in improving the quality and marketability of these crops by enhancing their size, color, and shelf life. The increasing consumer preference for organic and pesticide-free produce has further fueled the demand for PGRs, as they are considered a safe and natural alternative to chemical growth enhancers.

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Plant Growth Regulators Market Segmentation

The market can be divided based on type, crop type, application, and region.

Market Breakup by Type

• Auxins
• Ethylene
• Gibberellins
• Cytokinins
• Abscisic Acid

Market Breakup by Crop Type

• Fruits and Vegetables
• Cereals
• Oilseeds and Pulses
• Turf and Ornamentals
• Others

Market Breakup by Application

• Plant Growth Promoters
• Plant Growth Inhibitors

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plant growth regulators market. Some of the major players explored in the report by Expert Market Research are as follows:

• Sumitomo Chemical Co., Ltd
• BASF SE
• Syngenta Crop Protection, LLC
• Nufarm Ltd
• Bayer Crop Science AG
• Corteva, Inc.
• Tata Chemicals Limited
• United Phosphorus Ltd
• FMC Corporation
• WinField Solutions LLC
• Valent BioSciences Corporation
• Others

Future Outlook

The global plant growth regulators market is poised for significant growth in the coming years, driven by the increasing demand for high-yield crops and the expanding applications of PGRs in various agricultural practices. The shift towards sustainable agriculture and the rising adoption of advanced farming techniques are expected to further boost market expansion.

The development of bio-based PGRs and the continuous innovation in product formulations will play a crucial role in shaping the future of the plant growth regulators market. With the growing emphasis on improving agricultural productivity and ensuring food security, the demand for PGRs is anticipated to witness a steady rise, making it a vital component in modern agriculture.

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