Plant Growth Regulators Market Outlook 2024-2031: Trends and Opportunities/ BASF SE, Bayer AG, Nippon Soda Co., Ltd., Sumitomo Chemical Co., Ltd., Syngenta Corp

Global plant growth regulators market is anticipated to grow at a moderate CAGR of 13.1% during the forecast period (2024-2031). The market growth is attributed to the increasing superior product technology and high plant growth regulators usage per hectare of cultivated area globally driving the growth of the market. Plant growth regulators are growing increasingly in demand as sustainable farming methods, such as organic farming, gain greater popularity. These regulators support sustainability objectives by maximizing plant growth and reducing environmental impact. According to the Food and Agriculture Organization (FAO), in 2021, the global utilization of PGRs surged from 29,419.52 tons in 2003 to 745,667.62 tons in 2021.

Plant growth regulators (PGRs) are used to change a plant's development in a variety of ways, including promoting branching, decreasing shoot growth, increasing return bloom, removing extra fruit, or changing the maturity of the fruit. For instance, in July 2021, Sumitomo Chemical received US regulatory approval for the registration of its new plant growth regulator (PGR) AccedeTM (active ingredient 1-aminocyclopropane-1-carboxylic acid (ACC)), for the improvement of fruit quality for peaches and apples.  Once Accede is applied to the crop, the active ingredient ACC is converted to ethylene*3, a substance that accelerates fruit drop, within the crop and does not remain in the fruit at harvest.

To provide much-needed solutions for farmers to overcome local and crop system-specific pest pressures, climate challenges, changing regulatory requirements, and rising consumer expectations market players are investing to improve outcomes for crops.  For instance, in March 2023, BASF SE invested €7.5 billion ($8.1 billion) in its innovations to improve outcomes for major regional crops. BASF is advancing several weed management solutions, matching new plant growth regulators' modes of action active ingredients with innovative traits and precision farming technologies in major crops such as soybean.

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Market Coverage

The market number available for - 2023-2031
Base year- 2023
Forecast period- 2024-2031

Segment Covered- 

By Function
By Formulation
By Hormones Type
By Crop Type

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World

Competitive Landscape- BASF SE, Bayer AG, Nippon Soda Co., Ltd., Sumitomo Chemical Co., Ltd., Syngenta Corp. among others.

Plant Growth Regulators Market Report Segment

By Function

Plant Growth Inhibitors
Plant Growth Promoters

By Formulation

Water-dispersible & Water-Soluble Granules
Wettable Powder
Solutions

By Hormones Type

Cytokinins
Auxins
Gibberellins
Ethylene
Others (Abscisic Acid (ABA))

By Crop Type

Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Turf & Ornamentals

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Plant Growth Regulators Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles

Agriplex
Corteva Agriscience™ 
Crystal Crop Protection Ltd.
DeSangosse
DHANUKA AGRITECH LTD. 
Dora Agri-Tech
Indigo Ag Inc. 
Philagro
Royal Brinkman
Sichuan Guoguang Agrochemical Co., Ltd. 
Sipcam Oxon S.p.A. 
Tata Chemicals Ltd. 
Tokyo Chemical Industry Co., Ltd.
Valent U.S.A. LLC
WinField United (Land O'Lakes, Inc.)
Zagro 

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