Dublin, June 08, 2023 (GLOBE NEWSWIRE) -- The "Plant Growth Regulators Market by Type, Crop Type: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the plant growth regulators market was valued at $2.2 billion in 2021, and is estimated to reach $7.4 billion by 2031, growing at a CAGR of 13.9% from 2022 to 2031.
Key Market Players
- BASF SE
- Bayer Crop Science AG
- Corteva Agriscience
- Syngenta AG
- Nufarm
- Sumitomo Chemical Australia
- TATA chemicals limited
- Arysta Life science
- FMC Corporation
- UPL Limited
Plant growth regulators (PGRs) are chemicals that control how plants grow and are typically only active at extremely low concentrations. Both natural and synthetic regulators are created by plants; the ones that are found naturally in plants are known as phytohormones or plant hormones. Plant growth regulators performance is affected by a variety of factors, including how well the chemical is absorbed by the plant, the vigor and age of the tree, cultivar, and weather conditions before, during, and after application.
Plant growth regulators are chemical compounds that have a substantial influence on plant cell, tissue, and organ development and isolation.
Plant growth regulators act as chemical messengers, allowing cells to interact with each other. Natural plant growth regulators are produced with minimal qualities in specific plant parts and migrate to other parts, manipulating several physiological functions to regulate plant growth such as promoting plant cell division and cell expansion, leaf expansion, retarding leaf senescence, ripening of fruits and vegetables, fruits and flower maturation, and seed germination. Plant hormones are classified into five groups: auxins, gibberellins, cytokinins, abscisic acid (ABA), and ethylene. They collaborate to coordinate plant cell growth and development.
Plant growth regulators are in high demand because of their ability to reduce lodging in intensive cereal production, control shoot heights, and stimulate latex flow in rubber plants. These factors stimulate plant growth and accelerate production when compared to traditional fertilizers, which is expected to have a positive impact on market growth in the coming years.
Furthermore, altering climatic circumstances during the conventional way of farming are leading to the adoption of commercial greenhouses, which is driving the installation of commercial greenhouses and further propagating market expansion over the forecast period.
Additionally, North America and Europe are most likely to hold a significant market share in the commercial greenhouse industry, while Asia-Pacific is expected to be the fastest-growing region. With rising urbanization and individuals' altering lifestyles, the market for plant growth promoters is developing at a significant rate, with the surge in commercial greenhouse market growth to feed the growing urban population.
Agricultural production optimizes yields from a single harvest by leveraging large beginning expenditures. Seed, agrochemicals, machinery, and other items are also included in these prices.
Adding productivity-boosting inputs is not economically viable for small farms since it incurs expenditures that the majority of farmers cannot afford. For instance, South Asia and Sub-Saharan Africa do not invest sufficiently in agriculture, which results in subpar productivity. The effects of this phenomena on global food security and the standard of living for those who labor in the primary sector are significant.
Additionally, rising markets such as Brazil and India generate a considerable amount of cotton, fruits, and vegetables. There is an increasing need for plant growth regulating products in these markets for producing high-value crops such as grains and oilseeds, which is expected to boost the growth of the worldwide plant growth regulators market during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the plant growth regulators market analysis from 2021 to 2031 to identify the prevailing plant growth regulators market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the plant growth regulators market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global plant growth regulators market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Auxins
- Gibberellins
- Cytokinins
- Absicisic Acid
- Ethylene
By Crop Type
- Cereals
- Oilseeds and Pulses
- Fruits and Vegetables
- Turf and Ornamentals
- Others
For more information about this report visit https://www.researchandmarkets.com/r/4rpk1k
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