Market Size of Plant Growth Regulators Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Plant Growth Regulators Market Analysis
The Plant Growth Regulators Market is poised to grow at a CAGR of 8.5% during the forecast period.
- Plant growth regulators (PGRs) are chemicals that act like phytohormones and affect the plant's physiological processes. There has been an increasing demand for fruits, and the application of plant growth regulators (PGRs) on fruits is continuously increasing to enhance crop yield. In Africa, plant growth regulators are highly used for vegetables, such as potatoes, tomatoes, and onions. Fruits are enhanced by the application of PGR, especially apples, pears, and peaches.
- Globally, cytokinins are witnessed to have high growth due to the increased production of fruits and commercial vegetables. Factors like increasing organic farming and the need for sustainable agriculture are driving the market. The market studied is anticipated to have a better growth rate in the future, as farmers are inclining towards the latest technology in the agricultural sector.
- Currently, the penetration of plant growth regulators products is observed to be relatively high in field crops, such as cotton, in Middle East & Africa. Such high adoption in the cotton crop is particularly attributed to the higher need for maintenance in the vegetative and reproductive growth balance in the cotton crop, as compared to other crops. Plant growth regulators are also used to increase the boll size, boll retention, harvest efficiency, as well as to reduce plant height and increase the canopy size in the cotton production.
- To maintain market competitiveness, many companies are engaged in new product development, innovation, and acquisition. For instance, Syngenta Canada registered Moddus, a new plant growth regulator that helps reduce lodging risk in wheat, barley, and oats. Moddus contains trinexapac-ethyl, an active component that has been used for years to control lodging in grain crops across the world.
Plant Growth Regulators Industry Segmentation
Plant growth regulators are chemical compounds other than nutrients that modify a plant's physiological processes. The Plant Growth Regulators Market is Segmented by Type (Cytokinins, Auxins, and Gibberellins), Application (Crop-based and Non-crop-based), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecast in terms of value (USD Million) and in terms of volume (Metric ton) for the above-mentioned segments.
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Plant Growth Regulators Market Size Summary
The plant growth regulators (PGRs) market is experiencing significant growth, driven by the increasing demand for enhanced crop yields and sustainable agricultural practices. PGRs, which function similarly to phytohormones, are widely used to improve the physiological processes of plants, particularly in the cultivation of fruits and vegetables. In regions like Africa, PGRs are extensively applied to vegetables such as potatoes, tomatoes, and onions, while in other parts of the world, they are used to boost the production of fruits like apples, pears, and peaches. The market is witnessing a notable rise in the use of cytokinins, which are favored for their ability to enhance stress tolerance and stimulate protein synthesis. The adoption of PGRs is particularly high in field crops like cotton in the Middle East and Africa, where they help maintain growth balance and improve yield efficiency.
The market landscape is characterized by a high level of consolidation, with major players such as BASF SE, Bayer Crop Science, Syngenta, UPL Ltd, and Corteva Agriscience dominating the global scene. These companies are actively engaged in product innovation, strategic acquisitions, and mergers to strengthen their market position and expand their product offerings. The growing trend towards organic farming, especially in Europe, is further propelling the demand for PGRs, as countries aim to reduce pesticide usage and enhance soil fertility. The European Union's commitment to increasing organic farming land and reducing environmental impact aligns with the rising adoption of PGRs. As the market continues to evolve, the introduction of new products and technologies is expected to meet the increasing demand from the agricultural sector, particularly in the fruit and vegetable segments.
Plant Growth Regulators Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Cytokinins
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2.1.2 Auxins
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2.1.3 Gibberlins
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2.1.4 Other Types
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2.2 Application
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2.2.1 Crop-based
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2.2.1.1 Grains and Cereals
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2.2.1.2 Pulses and Oilseeds
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2.2.1.3 Fruits and Vegetables
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2.2.1.4 Turf and Ornamentals
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2.2.1.5 Other Crops
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2.2.2 Non-crop-based
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2.2.2.1 Turf and Ornamental Grass
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2.2.2.2 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Germany
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Thailand
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2.3.3.5 Australia
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Africa
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2.3.5.1 South Africa
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2.3.5.2 Rest of Africa
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Plant Growth Regulators Market Size FAQs
What is the current Plant Growth Regulators Market size?
The Plant Growth Regulators Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Plant Growth Regulators Market?
BASF SE, Bayer Crop Science, Corteva Agriscience, UPL Limited and Syngenta are the major companies operating in the Plant Growth Regulators Market.
