Plant Growth Regulators Market Industry Analysis & Forecasts

The plant growth regulators market is projected to grow at a CAGR of 6.8% from 2017, to reach a value of USD 2.93 billion by 2022. The global demand for plant growth regulators is increasing significantly due to the growing demand for organic food. The market is further driven by factors such as rise in the need for food security for the growing population, advancement in farming practices and technologies, and high opportunities in developing countries.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=94580110

On the basis of type, the global market was led by the cytokinins segment in 2016. Cytokinins provide benefits such as delayed plant aging and prevention of leaf senescence. Cytokinins are applied in a higher concentration during the growth period of mature plants. Cytokinins also find wide usage in the North American and Asia Pacific countries.

The plant growth regulators market, on the basis of crop type, is segmented into fruits & vegetables, cereals & grains, oilseed & pulses, and turf & ornamentals. The fruits & vegetables segment accounts for the second largest market share; this can be attributed to the growing health-consciousness among consumers and their rising income levels. In North America and Europe, growing health concerns are driving the demand for fruits and vegetables, as consumers prefer healthier and more nutritious diet options.

The global market, based on formulation, is segmented into water-dispersible & water-soluble granules, solutions and wettable powders. The water-dispersible & water-soluble granules segment accounted for the largest market share. Water-dispersible granules provide greater stability and ease of handling during supply chain activities; they are projected to be fastest-growing formulations in the market in agriculture.

The market is segmented, on the basis of function, into plant growth promoters and plant growth inhibitors. Plant growth promoters have a positive or beneficial effect during plant growth stages. The growth of this segment is attributed to the increasing demand for plant growth promoters in various fruits & vegetables to enhance the flowering process for increased yield. The growth inhibitors are used to inhibit plant growth processes such as root & steam elongation, seed germination, and bud opening.

Europe and Asia Pacific are the dominant regions in the plant growth regulators market. The major countries contributing significantly toward the growth of the Asia Pacific region include China, Japan, India, and Australia & New Zealand. The increasing demand for organic food is further expected to boost the market.

Request for Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=94580110

Companies such Syngenta (Switzerland), BASF (Germany), The Dow Chemical Company (US), Bayer CropScience (Germany), Nufarm (Australia), and ADAMA (Israel) together account for more than half of the total share of the plant growth regulators market. These companies have a strong presence in Europe and the Asia Pacific region. They also have manufacturing facilities across these regions and a strong distribution network. They are also focused on innovation and are geographically diversified. These market players are focusing on new product launches with existing and new materials to increase their efficiency. FMC Corporation (US) and Valent BioSciences Corporation (US) are some of the leading market players that adopted this strategy to develop their business.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.