Global Plant Growth Regulators Market

Global Plant Growth Regulators Market Size, Share, Growth Analysis, By Type(Auxins and Gibberellins), By Application(Crop-based and Non-crop-based) - Industry Forecast 2024-2031

Report ID: SQMIG15E2104 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 59 | Figures: 75

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Global Plant Growth Regulators Market size was valued at USD 4.06 billion in 2022 and is poised to grow from USD 4.46 billion in 2023 to USD 9.53 billion by 2031, growing at a CAGR of 9.94% during the forecast period (2024-2031).

The global plant growth regulators market is highly fragmented, with the presence of numerous regional and international players. The market is characterized by intense competition, with companies focusing on developing innovative products and expanding their product portfolios. Some of the key strategies adopted by players in the market include mergers and acquisitions, partnerships and collaborations, and investments in research and development activities. 'BASF SE', 'Syngenta AG', 'Bayer AG', 'DowDuPont Inc.', 'FMC Corporation', 'Nufarm Limited', 'Adama Agricultural Solutions Ltd.', 'Tata Chemicals Limited', 'Valent BioSciences LLC', 'Arysta LifeScience Corporation', 'Sichuan Guoguang Agrochemical Co. Ltd.', 'Xinyi Industrial Co. Ltd.', 'Crop Care Australasia Pty Ltd.', 'WinField Solutions LLC', 'Rotam CropSciences Ltd.', 'NuFarm Americas Inc.', 'OHP Inc.', 'SePRO Corporation', 'SinoHarvest Corporation', 'Chemtura Corporation'

One of the key drivers of the plant growth regulators market is the increasing demand for food due to the growing global population. As the world population continues to increase, the demand for food is also rising, and this is driving the need for efficient agricultural practices that can improve crop yields and quality. Plant growth regulators are widely used in the agriculture sector to enhance plant growth, increase yield, and protect crops from pests and diseases, which is helping farmers to meet the growing demand for food and contributing to the growth of the plant growth regulators market.

One key market trend in the global plant growth regulators market is the increasing adoption of organic farming practices. Consumers are becoming more aware of the environmental and health benefits of organic food, leading to a surge in demand for organic products. This has resulted in a shift towards the use of plant growth regulators derived from natural sources, such as seaweed extracts and microbial products. Additionally, the growing focus on sustainable agriculture and the need to increase crop yield and quality is driving the adoption of plant growth regulators in farming practices.

North America has historically been a dominant region in the global plant growth regulators market, accounting for a significant share of the global market. This dominance is attributed to the region's advanced agricultural practices and the presence of key market players in the region. The United States is the largest market for plant growth regulators in North America, owing to the significant adoption of plant growth regulators by farmers to improve crop yield and quality. Moreover, the region's favorable regulatory environment, advanced research and development activities, and growing focus on sustainable agriculture are driving the growth of the market in North America.

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