Plant Growth Regulators Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Type (Cytokinin, Auxins, Gibberellins, Ethylene, Others), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, Others), Function (Plant Growth Promoters, Plant Growth Inhibitors), Mode of Application (Fertigation, Foliar), by region, an
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2025-2029 |
| Market Size (2023) | 3.09 billion |
| CAGR (2024-2029) | 7.68% |
| Fastest Growing Segment | Cytokinin Segment |
| Largest Market | North America |
Market Overview
Global Plant Growth Regulators Market is valued at USD 3.09 billion in 2023 and will see an impressive growth in the forecast period at a CAGR 7.68% to 2029.
Ongoing advancements in agricultural technologies, such as the development of innovative formulations and application methods, contribute to the increased adoption of plant growth regulators. With growing awareness of environmental sustainability, there is an increased focus on sustainable agricultural practices. Plant growth regulators that support environmentally friendly and resource-efficient farming are in demand. Plant growth regulators are utilized to enhance crop yield by influencing various physiological processes, such as seed germination, flowering, and fruit development.
Key Market Drivers
Adoption of Precision Agriculture
With Precision Agriculture, farmers are getting super precise with things like watering, fertilizing, and even using plant growth regulators (PGRs)! Think of it as giving plants exactly what they need, exactly where they need it. By using PGRs carefully – only where and when necessary – we can avoid waste and get the most out of them. It's all about using real-time data and cool analytics to target specific spots in the field. That way, PGRs are applied where they'll really make a difference, tackling those tricky growth problems. Technologies like GPS-guided tractors and fancy sensors make sure PGRs are spread evenly across the entire field. The result? More consistent growth and better quality crops! It all boils down to using data from soil sensors, satellite imagery, and weather forecasts to make smart choices about how and when to apply PGRs, taking into account what the crops actually need and what's happening in the environment.
Precision Agriculture minimizes overuse of inputs, including PGRs, which can reduce the environmental impact of agricultural practices. By applying PGRs only where necessary, farmers can contribute to more sustainable and eco-friendly farming practices. The precise application of PGRs in response to data-driven insights helps maximize crop yield and quality. PGRs can be strategically used to influence plant growth, flowering, and fruiting, leading to improved overall productivity. Automated systems in Precision Agriculture, such as autonomous tractors and drones, can be equipped to apply PGRs efficiently. This integration enhances the accuracy and speed of PGR application.
Precision Agriculture helps farmers roll with the punches when field conditions change. This is super important for tweaking PGR applications because things like soil moisture, temperature, and how the crop is growing are always in flux. Applying PGRs just where they're needed cuts down on what farmers spend overall. It's all about getting the most bang for your buck by using PGRs smartly – saving money while keeping yields high. And, let's face it, everyone's jumping on the tech bandwagon in agriculture, and that includes Precision Agriculture. The more tech gets used, the more we'll see these precise application methods for PGRs. This is going to fuel even better ways of doing things.
Expanding Horticulture and Floriculture Industries
PGRs are often used to regulate flowering and control the overall growth of ornamental plants. The precise application of PGRs helps in achieving desired plant shapes, sizes, and flower characteristics, enhancing the aesthetic appeal of ornamental plants. In horticulture, where crop quality is crucial, PGRs are utilized to optimize crop yield and enhance the quality of fruits and vegetables. These regulators influence key physiological processes, leading to improved harvests.
So, floriculture is basically about growing plants in places like greenhouses, where we can keep things just right. To help those plants grow how we want them to, we often use PGRs – think of them as plant growth regulators. They keep plants from getting too big and help them grow evenly. Plus, we can use them to make flowers bloom and be ready to pick exactly when we need them, which is super important for hitting those market deadlines and dealing with seasonal changes. And get this, PGRs even help keep cut flowers fresh longer! By messing with stuff like ethylene, they help keep flowers looking good. Over in the fruit world, PGRs are used to make sure more fruits actually grow and ripen. This means more fruit to sell, which is always a good thing for the horticulture industry!
Think of PGRs as a gardener's secret weapon! They're super useful for shaping how plants grow, whether you're into veggies or beautiful blooms. PGRs let you control things like how tall a plant gets, how many branches it has, and its general shape. Plus, plants in your garden or flowerbeds can be a bit delicate and get stressed out by the environment. PGRs can help them handle tough times, like a heatwave or a cold snap, keeping them strong and healthy. Want all your plants to look the same? PGRs can help with that, making sure they grow evenly and have a consistent appearance. And let's face it, what customers want is what matters! PGRs allow growers to tweak plants to meet those demands, influencing their color, size, and even their shape. This ability will really speed up the demand of the product.
Growing Awareness Among Farmers
As farmers learn more about how Plant Growth Regulators (PGRs) work and how good they are, they're seeing how these things can really help their crops grow better, produce more, and be higher quality. Because of this, they're starting to use PGRs more often. Knowing more means they can manage their crops even better. When farmers understand what PGRs do, they can use them smartly to fix problems like plants growing too much or flowers not blooming at the same time. Informed farmers can also use resources better by putting PGRs exactly where they're needed. This helps cut down on waste and makes farming more efficient and sustainable. If farmers know what PGRs can do, they're more likely to use them to get bigger and better harvests. PGRs can mess with how plants grow, which can mean more crops and more money in their pockets. Plus, some PGRs can help plants deal with stress, so farmers might use them when things get tough, like during a drought or when it's super hot or cold. This can protect their crops from getting too damaged.
Increased awareness often aligns with a broader trend toward sustainable and eco-friendly agricultural practices. Farmers may choose PGRs that support environmentally responsible farming and contribute to sustainable agriculture. Educational programs, training sessions, and extension services provided by agricultural agencies or PGR manufacturers contribute to farmer awareness. These programs inform farmers about the correct usage, dosage, and timing of PGR applications. Farmers who have successfully used PGRs may share their experiences and knowledge with their peers. This peer-to-peer knowledge sharing fosters a community of informed farmers who are more likely to adopt PGRs in their own practices.
Improved access to information through various channels, including agricultural publications, online resources, and workshops, helps farmers stay updated on the latest advancements and applications of PGRs. As farmers become more aware of market demands and consumer preferences, they may use PGRs to produce crops that meet quality standards, resulting in better marketability and profitability. Awareness of regulatory standards and compliance requirements for agricultural products may encourage farmers to adopt PGRs that meet industry and environmental regulations. This factor will accelerate the demand of the Global Plant Growth Regulators Market
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Key Market Challenges
Resistance Management
Using the same growth regulators (PGRs) all the time, without mixing things up, can cause plants to become resistant to them. It's like the PGRs are constantly training the plants to fight back! If most of your PGRs work in the same way, the risk of resistance gets even higher. Think of it as the plants figuring out one trick and then being immune to all similar tricks. Changing up the PGRs you use – rotating them – is key to managing resistance. It stops plants from getting used to any single one. Even how you apply the PGRs matters! If you don't use the right amount, or apply them consistently or at the right time, you might accidentally help resistant plants survive and thrive. Plus, some plants are just naturally more resistant to certain PGRs than others. Without properly keeping an eye on things, you might not notice resistance developing until it's too late. And the longer you wait to respond, the bigger the problem becomes.
Market Fragmentation
The PGR market is packed with companies, each offering a different mix of products. This makes for a pretty fragmented scene, with lots of folks battling for their slice of the pie. You'll find a huge range of PGR products out there – different formulas, ways they work, and what they're used for. For buyers, that can be a real puzzlehow do you pick the best product for your needs? Because the market's so fragmented, companies often end up with relatively small market shares. That makes it tough for any one of them to set prices, build a powerful brand, or really sink money into research and development. The competition's fierce, and that can spark price wars as everyone tries to get ahead. While that might seem like a win for buyers at first, it can hurt the profits and long-term health of the businesses. Plus, with so many players, it can be tricky to build efficient distribution networks. Companies may struggle to make sure their products are available when and where they're needed. Especially for smaller companies with limited market share, it can be tough to find the cash to invest in research and development. And that could slow down the creation of really cool, cutting-edge PGR products.
Key Market Trends
Growing Demand for Organic PGRs
It's no surprise that more and more people are choosing organic! They're after food grown without harsh chemicals. That's where organic PGRs come in – think of them as natural ways to help plants grow strong and healthy in a sustainable way. Demand is up because we're all becoming more aware and want fruits and veggies grown organically. We're even ready to spend a little extra to get them! Lots of countries now have rules and certifications supporting organic farms, so using organic PGRs just makes sense if you're aiming for that organic label. Plus, with everyone worried about how regular farming affects the environment, switching to gentler, eco-friendly options is key. Organic PGRs are seen as a safer bet for our planet. They're usually made from things like plant extracts or helpful microbes – ingredients that sound good to those of us wanting fewer synthetic ingredients. When you see that "organic" label or a certification symbol, you know the grower has gone the extra mile. Using organic PGRs is a big part of getting that organic stamp of approval for their crops.
Segmental Insights
Type Insights
In 2023, the Global Plant Growth Regulators Market largest share was held by Gibberellins segment and is predicted to continue expanding over the coming years
Mode of Application Insights
Function Insights
In 2023, the Global Plant Growth Regulators Market largest share was held by
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Regional Insights
Hey, so North America is totally leading the way in the Global Plant Growth Regulators Market this year, 2023! Think about itplaces like the United States and Canada have really big and advanced farming industries. They grow tons of different crops and are always trying out the latest farming methods, so it makes sense they'd need a lot of these plant growth helpers. Plus, they're usually the first to jump on new tech and farming innovations. That includes using plant growth regulators to get the best possible harvest. And get thisthey spend a ton of money on research to make even better versions of these things. You've got universities and organizations all working to come up with new and improved technologies. Finally, North America grows everything - grains, fruits, veggies... you name it! So, naturally, they need all sorts of plant growth regulators designed for each specific type of crop.
Recent Developments
- In March 2023, Sumitomo Chemical India Ltd. hasintroduced its highly anticipated Biorational product, Promalin, in Shimla,Himachal Pradesh. This innovative product is the result of extensive researchconducted by Valent Biosciences, based in Illinois, USA, and is a subsidiary ofSumitomo Chemical Company in Japan. Recognized for its cutting-edge Biorationalsolutions, Promalin marks its debut in the Indian market through SumitomoChemical India Ltd. The product has undergone evaluation and receivedrecommendations from esteemed institutions such as Y.S. Parmar University ofHorticulture and Forestry, Nauni, Solan; Sher-e-Kashmir University ofAgricultural Sciences and Technology of Jammu; VCSG Uttarakhand University ofHorticulture and Forestry, Bharsar; and ICAR- IARI Regional Research Station,Shimla.
- In January 2020, BASF has unveiled Attraxor, a novel plantgrowth regulator (PGR), during the BTME event in Harrogate. Making its debut inthe UK market, this product incorporates the potent active ingredientProhexadione calcium. Attraxor is designed to decrease the longitudinal shootgrowth of grass, resulting in reduced mowing frequency and the generation ofclippings. The product specifically addresses the challenges posed by Poaannua, also known as annual meadow grass or bluegrass, which can adverselyimpact turf quality and sward density. Particularly in sports settings likegolf putting greens, Poa annua can affect the ball's roll. Attraxor functionsby diminishing seed head production and the regenerative potential of Poaannua. Through this action, it replaces Poa annua, strengthens turf, enhancessward density, and mitigates the risk of fungal infections such as Anthracnose.
Key Market Players
- BASF SE
- Corteva, Inc
- Syngenta AG
- FMC Corporation
- Nufarm Limited
- Bayer AG
- UPL Limited
- Sumitomo Chemical Co., Ltd.
- Tata Chemicals Ltd.
Report Scope
In this report, the Global Plant Growth Regulators Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Plant Growth Regulators Market, By Type
- Plant Growth Regulators Market, By Crop Type
- Plant Growth Regulators Market, By Function
- Plant Growth Regulators Market, By Mode of Application
- Plant Growth Regulators Market, By region
North America
Asia-Pacific
Europe
South America
Middle East & Africa
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