Rockville Pike, Oct. 28, 2024 (GLOBE NEWSWIRE) -- As stated in the recently published report by Fact.MR, a market research and competitive intelligence provider, the global crop growth regulator market is projected to reach US$ 3.68 billion in 2024. The market is further forecasted to advance at a CAGR of 6.7% between 2024 and 2034.
Crop growth regulators (CGRs) are seeing a sharp increase in demand due to their wide range of uses and several advantages in contemporary agriculture. These man-made substances imitate or disrupt the plant hormones, giving growers unparalleled control over a range of plant growth and development processes. CGRs are becoming essential for farmers globally, helping with anything from controlling plant height and fruit ripening to increasing agricultural yields and stress tolerance. In an era of climate change and food security concerns, their capacity to maximize resource allocation within plants, boost overall crop quality, and prolong produce shelf life has made them particularly appealing.
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Due to their adaptability, CGRs are important components in agricultural methods as agriculture encounters more difficulties, such as erratic weather patterns and the requirement for sustainable intensification. The CGR market is rising to new heights because of the growing acknowledgment of their potential, which is driving higher use across various crop kinds and geographical areas.
Key Takeaways from the Crop growth regulators' Market Study:
The global crop growth regulator market is forecasted to attain a valuation of US$ 7.07 billion by the end of 2034. The market in South Korea is analyzed to expand at a CAGR of 7.5% from 2024 to 2034.
The East Asia market is projected to reach US$ 1.63 billion by 2034-end. Mexico is analyzed to account for a market share of 19.9% in the North American region by 2034.
Based on the product type, cytokinin sales are projected to rise at a CAGR of 6.8% from 2024 to 2034. The North American market is forecasted to expand at a CAGR of 6.9% through 2034.
“Synchronized crop maturity and extended life of produce is stimulating the sales of crop growth regulators around the world,” says a Fact.MR analyst.
Some of the leading providers of crop growth regulator market are Dhanuka Agritech Ltd.; BASF SE; PBI-Gordon Companies, Inc.; Corteva Agriscience; Syngenta Group; Biotechnology Co., Ltd; Sikko India; FMC Corporation; Hangzhou Tianlong; Nufarm; De Sangosse; Sichuan Guoguang Agrochemical Co., Ltd; Bayer AG; Tata Chemicals Ltd.; Zagro; UPL; Sumitomo Chemical Co., Ltd.; Barclay Chemicals; Nippon Soda Co., Ltd.; Barclay Chemicals; Sipcam Oxon Spa; Aristo Biotech.
Crop Growth Regulator Industry News & Trends:
In August 2023, AMVAC, a global provider of agricultural technology solutions, expanded its line of products with the introduction of Mandolin, a growth regulator for plants specifically designed for citrus fruits.
A new plant growth regulator called Promalin® was unveiled in Shimla, Himachal Pradesh, in March 2023 by Sumitomo Chemical India Ltd., a subsidiary of Sumitomo Chemicals. The product comes in 500 ml and one-liter pack sizes and is available in the North Indian states of Jammu & Kashmir and Himachal Pradesh.
June 2022: The agricultural company Valent Canada Inc. extended its partnership with Nufarm Agriculture Inc. of Australia to expand its distribution network across Canada.
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Development in Nanotechnology Helping Escalating Demand for Crop Growth Regulators
Thanks to developments in nanotechnology, CGR efficiency has increased and the environmental effect has decreased with the creation of nano-formulations. Because of their enhanced absorption and tailored administration, these formulations enable lower application rates without sacrificing effectiveness.
As bio-based CGRs produced from natural sources are introduced, biotechnology is playing an increasingly important role. These environment-friendly substitutes allay worries about synthetic chemical use and appeal to the expanding organic farming industry.
Smart CGR application methods combined with precision agricultural technology allow for site-specific treatments that maximize crop response and resource efficiency. Farm operations are also becoming more efficient with the introduction of multifunctional CGRs that combine growth regulation with pest management or nutrient absorption augmentation.
By solving environmental and regulatory issues and enhancing crop yields and quality, these developments are establishing CGRs as essential instruments in contemporary, sustainable agriculture.
More Valuable Insights on Offer
Fact.MR presents an unbiased analysis of the crop growth regulator market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (cytokinins, auxin, gibberellins, ethylene, others), formulation type (wettable powders, solutions), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, turf & ornamental), and function (promoters, inhibitors), cross seaven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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