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Plant Growth Regulators Market by Product (Cytokinins, Auxins, Gibberellins, Ethylene, Others), by Application (Fruits & vegetables, Cereals & grains, Oil seeds & pulses, Turf & ornaments), by North America (U.S., Canada), by Europe (Germany, UK, France, Italy, Spain, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, Australia, Malaysia, Indonesia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by MEA (Saudi Arabia, South Africa, UAE, Rest of MEA) Forecast 2025-2033
The size of the Plant Growth Regulators Market was valued at USD 8.23 Billion in 2023 and is projected to reach USD 12.79 Billion by 2032, with an expected CAGR of 6.5% during the forecast period. The Plant Growth Regulators (PGRs) Market is centered around the utilization of chemical compounds that impact the growth, development, and yield of plants. These controllers are used to control plant functions like blooming, producing fruit, growing roots, and overall plant development, enhancing both crop quantity and quality. PGRs are utilized in different agricultural areas such as fruits, vegetables, grains, and ornamental plants to improve crop management, boost harvest productivity, and enhance resistance to environmental pressures. Increasing agricultural productivity, decreasing crop losses, and the growing use of precision farming methods are fueling market growth. Moreover, plant growth regulators assist in tackling difficulties brought on by climate change, pests, and diseases by enhancing the strength and health of plants. The market is being influenced by the growing shift towards sustainable and environmentally-friendly farming methods, with the rising popularity of new, bio-based and natural PGR solutions. The Plant Growth Regulators Market is anticipated to expand due to developments in plant biotechnology, as farmers and agricultural companies look for new ways to enhance crop productivity and address global food security needs.
The Plant Growth Regulators Market is a highly fragmented market with a large number of players operating globally. There has been increasing concentration in the industry, with key players acquiring smaller companies to expand their product portfolios and gain market share. Some of the largest players in the market include BASF SE, Bayer AG, and Dow, who account for a significant portion of the global market share.
There has been a trend towards consolidation in the Plant Growth Regulators Market, as larger players acquire smaller companies to expand their product portfolios and gain market share. This has led to an increase in concentration in the industry.
The Plant Growth Regulators Market is witnessing various trends, including the increasing adoption of precision agriculture techniques, the growing demand for organic and sustainable farming practices, and the rising popularity of biological plant growth regulators.
Precision agriculture involves the use of technology to collect and analyze data on crop growth and environmental conditions, allowing farmers to make more informed decisions about their crop management practices. This can lead to increased yields and reduced costs, and is driving the adoption of plant growth regulators in precision agriculture.
The Asia-Pacific region is expected to dominate the Plant Growth Regulators Market during the forecast period, owing to the increasing demand for food security and the rising awareness of crop protection practices in the region. China, India, and Japan are the major markets in the Asia-Pacific region, accounting for a significant share of the regional market.
This report provides detailed insights into the Plant Growth Regulators Market, including market size, market share, and growth rate. It also provides comprehensive information on the competitive landscape, industry trends, and key market drivers and challenges. The report also includes profiles of leading players in the market and their product portfolios.
The Plant Growth Regulators Market is highly competitive, with a large number of players operating globally. The key players in the market include BASF SE, Bayer AG, and Dow, who account for a significant portion of the global market share. These companies are constantly innovating and developing new products to meet the changing needs of customers.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6.5% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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