Plant Growth Regulators Market to Surpass 8.66 Billion by 2030 Drives Due to the Increasing Global Population
SkyQuest projects that the plant growth regulators market will attain a USD 8.66 billion value by 2030, with a CAGR of 9.94% over the forecast period (2023-2030). The increasing global population and changing consumer preferences have fueled a significant demand for various crops, with a particular emphasis on grains. This trend has driven the expansion of cereal production, especially in Asian countries such as China and India, in the plant growth regulators market.
Westford, USA, July 06, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the demand for the plant growth regulators market has increased, driven by their numerous benefits and applications in agriculture. One of the key advantages of plant growth regulators is their ability to reduce lodging, particularly in intensive cereal production. These regulators help prevent the bending or breaking of plants due to heavy crop weight, leading to improved crop yield and quality by controlling the shoot heights and strengthening the plant’s stem structure.
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Browse in-depth TOC on the “Plant Growth Regulators Market”
- Pages – 242
- Tables – 59
- Figures –75
Plant growth regulators are chemical substances that play a crucial role in managing and improving plants’ natural growth and development. The plant growth regulators market is experiencing significant growth due to several key factors. The global population continuously increases, leading to a higher demand for food production.
Prominent Players in Plant Growth Regulators Market
- 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
Browse summary of the report and Complete Table of Contents (ToC):
Crop-Based Segment is Expected to Grow the Market Due to the Increasing Demand for Food
The plant growth regulators market is poised for growth, with the crop-based segment expected to dominate. These applications play a crucial role in enhancing the quality and yield of various crops, including cereals, oilseeds, fruits, and vegetables. The need to maximize agricultural productivity becomes paramount with the rising global population and the increasing demand for food.
The market in North America has maintained a dominant position in the global plant growth regulators market, boasting a substantial share of the overall market. This dominance can be attributed to several factors. The region is known for its advanced agricultural practices, leveraging innovative technologies and techniques to optimize crop production.
Non-Crop-Based Segment is Expected to Dominate the Market Due to the Increasing Demand for Ornamental Plants
In addition to crop-based applications, the plant growth regulators market is experiencing growth in non-crop-based applications. The increasing demand for ornamental plants, lawns, and turf is driving the expansion of this segment. Non-crop-based applications of plant growth regulators are utilized to enhance the appearance and quality of non-agricultural plants.
Regional markets in Asia are emerging as the fastest-growing plant growth regulators market. This growth can be attributed to several key factors. The region is experiencing a substantial increase in the demand for food due to its growing population. As a result, farmers are adopting modern agricultural practices to meet the rising food requirements, including using plant growth regulators to enhance crop yield and quality.
A comprehensive analysis of the major players in the plant growth regulators market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Plant Growth Regulators Market
- In 2023, Bayer CropScience is set to introduce “Verdia,” a novel plant growth regulator designed to enhance plant growth, yield, and quality across various crops. This innovative product showcases Bayer CropScience’s commitment to advancing agricultural practices and providing effective solutions to farmers. By utilizing Verdia, farmers can optimize their crop production by improving plant growth, increasing yield potential, and enhancing overall crop quality.
- Arysta LifeScience recently launched “Atonik,” a new plant growth regulator in the Philippines. Atonik offers a range of benefits to farmers, including improved plant vigour, enhanced root development, and increased stress tolerance. Atonik provides plants with the necessary nutrients and compounds to thrive, resulting in healthier plants, better crop performance, and increased resilience to environmental stressors with its unique formulation.
Key Questions Answered in Plant Growth Regulators Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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