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 CustomizationPlant 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
| 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
Precision Agriculture allows farmers to precisely control the application of inputs such as water, fertilizers, and PGRs. By using PGRs judiciously and in specific areas where they are most needed, farmers can optimize the use of these regulators, reducing waste and improving efficiency. Precision Agriculture enables site-specific application of PGRs based on real-time data and analytics. This targeted approach ensures that PGRs are applied where they will have the most significant impact, addressing specific growth concerns in the field. Precision Agriculture technologies, including GPS-guided equipment and sensors, help ensure uniform application of PGRs across the entire field. This leads to more consistent crop growth and development, improving overall crop quality. Precision Agriculture relies on data from various sources, such as soil sensors, satellite imagery, and weather forecasts. This data-driven approach allows farmers to make informed decisions about the application of PGRs, considering specific crop needs and environmental conditions.
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 allows farmers to adapt to variable field conditions. This adaptability is crucial for adjusting PGR applications based on changing factors like soil moisture, temperature, and crop growth stages. The precise application of PGRs reduces the overall input costs for farmers. By optimizing the use of PGRs through Precision Agriculture, farmers can achieve cost savings while maintaining or improving crop productivity. The overall trend of integrating advanced technologies in agriculture aligns with the adoption of Precision Agriculture. As technology adoption increases, so does the use of precision application methods for PGRs. This factor will help in the development of the
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.
Floriculture often involves the cultivation of plants in controlled environments like greenhouses. PGRs can be applied to control the growth of plants, ensuring they remain within the desired size range and exhibit uniform growth. PGRs are used to manipulate the timing of flowering and harvest in horticultural crops. This is particularly important for meeting market demands, managing seasonal variations, and aligning with specific market windows. PGRs can be employed to extend the shelf life of cut flowers in the floriculture industry. By regulating ethylene production and other physiological processes, PGRs help maintain the freshness and quality of flowers. In fruit crops within the horticulture sector, PGRs are used to improve fruit set, ensuring a higher number of fruits develop and mature. This can lead to increased overall yield and marketable produce.
PGRs are valuable tools for managing growth habits in both horticultural and floricultural plants. They can control factors such as plant height, branching, and overall architecture. Horticultural and floricultural plants are susceptible to various environmental stresses. PGRs can be applied to manage stress responses, helping plants cope with adverse conditions and maintaining their health. Achieving uniformity in plant growth is essential for both horticulture and floriculture. PGRs contribute to uniform growth, ensuring consistent plant characteristics and appearance. Consumer preferences in the horticulture and floriculture industries often drive demand for specific plant characteristics. PGRs enable growers to meet market demands by influencing plant traits such as color, size, and shape. This factor will pace up the demand of the
Growing Awareness Among Farmers
As farmers become more educated about the functions and benefits of PGRs, they recognize how these regulators can positively impact crop growth, yield, and quality. This understanding encourages the adoption of PGRs in farming practices. Awareness leads to better crop management practices. Farmers who are informed about the role of PGRs can implement these regulators strategically to address specific challenges, such as excessive vegetative growth or uneven flowering. Informed farmers can optimize the use of resources by applying PGRs precisely where needed. This targeted application helps reduce wastage of inputs and contributes to more sustainable and efficient farming. Farmers who are aware of the capabilities of PGRs are likely to use them to enhance crop productivity and yield. PGRs can influence various growth processes, leading to improved harvests and increased economic returns. Awareness about the stress-alleviating properties of certain PGRs can prompt farmers to use them during periods of environmental stress, such as drought or extreme temperatures. This can help mitigate the negative effects of stress on crops.
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
Overreliance on a specific type or class of PGRs and their frequent use without rotation or alternation can lead to the development of resistance. Continuous exposure creates selective pressure, favoring individuals with innate resistance. If a majority of found at PGRs share a similar mode of action, the risk of resistance development increases. Having a limited diversity in modes of action makes it easier for plants to adapt and develop resistance. Infrequent rotation or alternation of different PGRs with distinct modes of action can contribute to resistance. Rotation helps manage resistance by preventing the continuous exposure of plants to the same PGR. Incorrect application practices, such as suboptimal dosages, inconsistent application, or improper timing, may result in sublethal doses that promote the selection of resistant individuals. Some plant species may possess inherent genetic traits that confer resistance to certain PGRs. Over time, the prevalence of resistant genotypes can increase in plant populations. Inadequate monitoring and surveillance programs may fail to detect resistance development in a timely manner. Lack of early detection can lead to delayed responses and exacerbate the issue.
Market Fragmentation
The PGR market features many companies producing a diverse range of products. This can lead to a fragmented market structure with various players competing for market share. The market often includes a wide array of PGR products with varying formulations, modes of action, and applications. This diversity can create challenges for buyers in selecting the most suitable products for their specific needs. Market fragmentation results in companies having relatively small market shares. This can hinder the ability of individual companies to influence pricing, establish brand dominance, or invest significantly in research and development. Intense competition among numerous players may lead to price wars as companies strive to gain a competitive edge. While this may benefit buyers in the short term, it can impact the profitability and sustainability of businesses in the long run. With numerous players in the market, there may be challenges in establishing efficient distribution networks. Companies might face difficulties in ensuring the timely and widespread availability of their products. Smaller companies with limited market share may face constraints in terms of financial resources and investment in research and development. This can impede the development of innovative and advanced PGR products.
Key Market Trends
Growing Demand for Organic PGRs
The global trend towards organic farming has been gaining momentum as consumers seek products grown without synthetic pesticides or chemical fertilizers. Organic PGRs fit into this paradigm by providing plant growth enhancement through natural and sustainable means. Increased consumer awareness and demand for organic and sustainably produced fruits, vegetables, and other crops drive the need for organic PGRs. Consumers are willing to pay a premium for produce grown using organic and environmentally friendly practices. Many countries have implemented regulations and certifications that support organic farming practices. The use of organic PGRs aligns with these regulations, making them a preferred choice for growers seeking organic certification. Growing concerns about the environmental impact of conventional agriculture, including the use of synthetic chemicals, have led to a shift towards more sustainable and eco-friendly practices. Organic PGRs are perceived as a safer and environmentally conscious alternative. Organic PGRs often utilize natural and biologically derived ingredients, such as plant extracts, microbial-based formulations, and other organic compounds. These formulations resonate with consumers looking for products with minimal synthetic inputs. Products labeled as organic or certified by relevant authorities appeal to consumers who prioritize health and sustainability. The use of organic PGRs contributes to the overall organic certification of 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
The North America region dominates the Global Plant Growth Regulators Market in 2023. North America, particularly the United States and Canada, has a sizable and technologically advanced agricultural sector. The extensive cultivation of various crops and the adoption of modern farming practices contribute to the substantial demand for plant growth regulators. The North American agricultural industry is known for its early adoption of advanced technologies and agricultural innovations. The integration of cutting-edge technologies and practices often includes the use of plant growth regulators to optimize crop production. The region invests significantly in research and development in the field of agriculture, including the development of new and improved plant growth regulators. Research institutions, universities, and agricultural organizations contribute to the innovation and advancement of PGR technologies. North America cultivates a wide variety of crops, ranging from grains and oilseeds to fruits and vegetables. The diverse agricultural landscape creates a demand for different types of plant growth regulators tailored to specific crops.
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
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- Plant Growth Regulators Market, By Crop Type
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- Plant Growth Regulators Market, By Function
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- Plant Growth Regulators Market, By Mode of Application
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- Plant Growth Regulators Market, By region
North America
Asia-Pacific
Europe
South America
Middle East & Africa
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