Plant Hormones Market Analysis, Key Players, Industry Segments, Development, Opportunities and Forecast to 2023

Market Overview:
Owning to the rising consumption of organic fruits and vegetables on a global platform, the market of natural plant growth regulators is experiencing a surge. Escalating popularity of herbal products from the pharmaceuticals industries is also prompting the high growth of global plant hormones market. Support from the government and high investments in the agricultural R&D sector has added fuel to the growth of this market globally. Use of agrochemicals to support new farming practices is also influencing the escalation of this segment. The sector is driven in a major way by increasing consumer’s awareness and high demand for chemical-free, organic commodities.

Health awareness and rising population of vegan consumers have a positive impact on farming practices which included the application of plant hormones. Increasing application of cytokines and other hormones to promote fast growth of the plant based on their effectiveness is also attracting consumer’s attention towards this market. However, high use of fertilizers for large-scale farming practices might confine the growth of this market to a large extent.

Latest Industry Updates:
Mar 2017 Big Tree Farms announced their launch of ‘golden’ organic Fair-trade coconut sugar which can replace refined white sugar. The strategy will help the company to strengthen their business portfolio in the organic segment.

Sep 2016 RIBUS, Inc., a U.S. based manufacturer of organic ingredients have announced the launch of Nu-MAG- which is a rice-based ingredient that can replace magnesium stearate and stearic acid which are considered vital ingredients to produce dietary supplements. These two major ingredients are prohibited to produce organic products however, with the company’s launch the production would be easier.

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Aug 2016 To suffice the growing need for organic vegetables from the consumers’ end, Bonduelle announced their expansion of their organic canned vegetable portfolio. The company engages in the manufacturing of organic canned vegetables including peas, beans, sweetcorn, carrots, broccoli, cauliflower, and other. Further, to generate high revenues through this segment, the company introduced seven new products in Germany, the Netherlands, and Sweden.

Jan 2016 To suffice the growing need for organic chocolate, Chuao Chocolatier- announced the launch of their beauty-inspired, organic chocolate bar line called “Lovely”.

Competitive Analysis:
Key players in the global plant hormones market are focusing on product promotions to spread awareness among the farmers to enhance the use of plant hormones on a global level. Additionally, based on growing demand for herbal pharmaceuticals and organic foods, players in the plant hormones market are identified to invest hugely in the R&D sector to come up with quality products which will further strengthen their business portfolio. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvements and financial flexibility to invest in the optimal strategies.

The key players profiled in plant hormones market report are BASF SE (Germany), Syngenta AG (Switzerland), The Dow Chemical Company (U.S.), Nufarm Australia Ltd. (Australia), FMC Corporation (U.S.), Bayer CropScience AG (Germany), Adama Agricultural Solutions Ltd. (Israel), Tata Chemicals Ltd. (India), Shanghai Xinyi Industry Co., Ltd. (China), and Valent BioSciences Corporation (U.S.) among many others.

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Market Segments:
The global plant hormones market has been divided into type, function, formulation, application, and region.

On The Basis Of Type: Auxins, Cytokinins, Ethylene, Gibberellins, and Others

On The Basis Of Function: Growth Inhibitors, and Growth Promoters

On The Basis Of Formulation: Powders, Granules, Solutions, and Others

On The Basis Of Application: Fruits and Vegetables, Cereals and Pulses, Oilseeds and Grains, and Others

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

Regional Analysis:
The global Plant hormones market is segmented into North America, Europe, APAC, and Rest of the World (RoW). This market is highly dominated by Europe and Asia Pacific region due to rapid adoption of new and organic farming practices by the farmers of these regions. North America is the fastest growing region owning to major shift in food consumption pattern in the countries of this region. The consumption of plant hormones in developing counties like India is expected to grow at a higher rate in the upcoming years.

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This release was published on openPR.