Plant Growth Regulators Market Trends, Development Status, Opportunities, Competitive Landscape and Growth by Forecast 2027
Posted on Jul 22 2021 9:24 AM
"Plant Growth Regulators Market Size, Share & Industry Analysis, By Type (Cytokinins, Auxins, Gibberellins, Ethylene, Others), By Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others)and Regional Forecast, 2021-2028 "
The global plant growth regulators market size is expected to swell at a substantial speed owing to the skyrocketing demand for food around the world, finds Fortune Business Insights™ in its report, titled “Plant Growth Regulators Market Size, Share & Industry Analysis, By Type (Cytokinins, Auxins, Gibberellins, Ethylene, Others), By Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others) and Regional Forecast, 2020-2027”. According to the UN Food and Agriculture Organization (FAO), world population is set to increase by 2.3 billion, or 33%, between 2009 and 2050, with sub-Saharan African countries anticipated to register the highest growth in numbers. To feed this expanding number of people, the FAO that world food production will need to increase by 70% in the next three decades, while in developing countries it will need to rise by 200%. Plant growth regulators will play an instrumental role in boosting food production and agricultural yield as they are simple, natural chemicals produced by plants, which can be utilized to manage crop development, such as promoting cell division and fruiting in plants.
The COVID-19 pandemic has deeply injured industries and businesses. Lockdowns, social distancing, and infection fears have stymied economic activities, disrupting supply chain networks and pushing down demand for goods and services globally. Governments and private sector entities are taking multiple efforts to mitigate the damage caused by this pandemic, but uncertainty is widespread. However, collective strength and unity will help us tide over these hard times. At Fortune Business Insights, we are constantly endeavoring to provide you with comprehensive research on various markets so as to equip your business with the necessary intelligence to emerge victorious on the other side of this crisis.
Gain More Insights into the Plant Growth Regulators Market Research Report
What Does the Report Offer?
- Comprehensive insights into the top market drivers, trends, and challenges;
- Tangible analysis of the different market segments;
- In-depth study of the leading market companies and their growth strategies; and
- Thorough evaluation of the regional prospects of the market.
Growing Vegan Population May Create New Opportunities
An interesting trend that might prove beneficial for the plant growth regulators market growth is the increasing number of people turning vegan worldwide. In the UK, for example, the Vegan Society estimates that in 2019, there were 600,000 vegans, quadrupling from 2014 numbers. Veganism essentially means switching to diets that are devoid of meat and are strictly based on fruits and vegetables. Plant growth regulators have been increasingly employed by nursery and greenhouse owners as they reduce costs, require less labor, lower water and nutrient requirements, and most importantly, promote uniform and consistent plant growth. For example auxins can boost the elongation of shoots as well as function as herbicides, while gibberellins can increase shoot growth, improve fruit size, and prevent or reduce russetting in apples. Since these chemicals are derived from plants themselves, they contribute to organic cultivation practices, which can be an attractive food option for vegans.
Europe to Lead the Charge Backed by Rising Adoption of Vegan Diets
Europe is expected to dominate the plant growth regulators market growth in the forthcoming years on account of increasing adoption of fruit- and vegetable-based diets in the region. Furthermore, stringent implementation of environment safety norms on farming activities will also support the growth of the regional market.
Major Segments includes:
By Crop Type
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
Request A Sample Copy -Plant Growth Regulators Market Report
In North America, the market will experience a dynamic growth period because of the spreading awareness about the health benefits of organic foods and beverages and a strong presence of highly-skilled professional farmers in the region. The market in Asia Pacific is set to surge owing to the exponential rise in population, high dependence on agriculture, and growing food insecurity in the region.
Major Participants to Focus on New Product Launches
Core competitors in PGR market are concentrating their resources on developing and introducing novel plant growth products to entrench their market position. For this, these companies are actively forging alliances with other players, strengthening their distribution networks, and investing in R & D.
- January 2020: BASF launched its new growth regulator called Attraxor, an offering that is new to the UK and contains the powerful active ingredient Prohexadione calcium. Attraxor is engineered to reduce longitudinal shoot growth of grass, which lowers the frequency of mowing and the volume of clippings.
- November 2019: Nufarm begins commercialization of Impulse, its ethephon-based bacteriostatic growth regulator, in Brazil. The main properties of the solution include stimulating sugarcane sprouting, accelerating ripening, and inhibiting flowering.
List of Key Players Profiled in the Plant Growth Regulators Market Report:
- Sumitomo Chemical
- Valent Biosciences Corporation
- Bayer CropScience
- BASF SE
- Corteva Agriscience
- Redox Industries Ltd.
- Barclay Crop Protection
- Bayer CropScience
- The Dow Chemical Company
Have Any Query? Ask Our Experts
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels:
Company Press Release
- Smart Food Packaging Market Size, Trend, Future Demand, Analysis By Top Leading Player And Forecast Till 2027
- Silk Protein Market Size By Global Major Companies Profile, Competitive Landscape And Key Regions 2027
- Protein Hydrolysates Market Size, Share, Analysis, Development Status, Regional Trends And Comprehensive Research Study Till 2027
- Prebiotics Market Size And Share Evolution To 2021 By Growth Insight, Key Development, Trends And Forecast 2027
- Plant-based Milk Market Trends, Industry Growth, Segments, Landscape And Demand By Forecast To 2027
- Pasta Market Size, Share, Regional Analysis By Key Players | Industry Forecast By Categories, Platform, End - User
- Organic Oats Market Trends, Size, Growth Insight, Share, Competitive Analysis, Regional And Industry Forecast To 2027