Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "North America Plant Growth Regulators Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
Embracing Sustainable Agriculture: The North America Plant Growth Regulators (PGRs) market is poised for substantial growth with a projected compound annual growth rate (CAGR) of 7.40% from 2023 to the 2028 forecasting period. Amid rising consumer demand for organically produced food and advancements in sustainable farming practices, an upsurge in market size is anticipated, from an estimated value of USD 3.15 billion in 2023 to USD 4.50 billion by 2028.
The significance of PGRs, including Auxin, Cytokinin, Gibberellins, and Abscisic Acid, in influencing crop cultivation has been instrumental in boosting the agricultural sector's productivity in North America. With the organic food industry experiencing a notable growth trajectory and governmental support of eco-friendly farming methods, the PGR market is witnessing concurrent momentum.
Rise in Organic Farming: Surge in Organic Cultivation Practices Drives PGR Demand
The escalating preference for organic farming practices has given the North America Plant Growth Regulators Market a decisive push. The United States, with the vast expanse of organic land, leads the way in adopting PGRs, intensified by research and product improvement initiatives from prominent companies and academic scholars.
- Growth in Greenhouse Cultivation: The adoption of PGRs in greenhouse crop production for controlling plant growth and enhancing productivity illustrates the market's dynamic nature, fueling innovations and increased usage.
- Enhanced Crop Yields: With national support, such as the United States' significant farm income stabilization subsidies, the agro-economic landscape has been reshaping, bolstering the PGR market's reach and impact on crop profitability.
- Increased Crop Profitability: The strategic deployment of chemical PGRs focused on plant development stages such as flowering, fruiting, and post-harvest processes marks a leap in the quest for heightened crop productivity and profitability in North America.
Market Dynamics: Within this fragmented industry landscape, key players engage in strategic product development and focused research to devise cost-effective and potent PGR solutions, thereby extending their market share. The North American PGR Market's leaders are dedicated to fostering technological breakthroughs and ensuring environmental stewardship.
The market dynamics shaped by policy, consumer preference, and scientific advancement paint an optimistic picture for the North America Plant Growth Regulators market well into the future. With unwavering research support and a continued quest for sustainability, the synergistic growth of the agricultural sector and the PGR market is a trend to watch.
A selection of companies mentioned in this report includes
- Bayer Crop Science
- ADAMA Agricultural Solutions Ltd
- Corteva Agriscience
- Nufarm Ltd
- syngenta AG
- Nippon Soda Co. Ltd
- Crop Care Ltd
- The DOW Chemical Company
- Sumitomo Chemical Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/u7grmd
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