Press release
Plant Growth Regulators Market is Expected to Gain Popularity Across the Globe by 2027
Market Size and Growth
Between 2018 and 2027, the PGR market has expanded significantly. In 2018, the market was valued at approximately US$ 5,600 million, growing at a CAGR of 4.4%. This growth is fueled by the rising adoption of biostimulants and organic farming practices, alongside the growing need to enhance crop yields and quality amid climatic challenges.
๐๐๐ญ ๐ ๐๐ฅ๐ข๐ฆ๐ฉ๐ฌ๐ ๐๐ง๐ฌ๐ข๐๐: ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ค๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ซ๐จ๐ฆ ๐จ๐ฎ๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1314
Market Segmentation
The plant growth regulators market can be segmented as follows:
By Service Type:
Synthetic Regulators
Auxins
Gibberellins
Cytokinins
Natural Regulators
Ethylene
Abscisic Acid
By Sourcing Type:
Natural Sources
Synthetic Sources
By Application:
Crop-Based Applications
Cereals & Grains
Fruits & Vegetables
Oilseeds & Pulses
Non-Crop-Based Applications
Turf & Ornamentals
By Industry Vertical:
Agriculture
Horticulture
Forestry
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
๐๐๐ญ ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ: https://www.transparencymarketresearch.com/plant-growth-regulators.html
Regional Analysis
North America: Dominates the market due to advanced agricultural technologies and high awareness of sustainable practices.
Europe: Follows closely, driven by stringent regulations promoting organic farming and environmental sustainability.
Asia-Pacific: Expected to witness the fastest growth, propelled by increasing agricultural activities in countries like India and China.
Latin America and MEA: Emerging markets with untapped potential due to expanding agricultural infrastructure.
Market Drivers and Challenges
Drivers:
Rising Food Demand: Population growth and changing dietary patterns are increasing the need for enhanced agricultural productivity.
Sustainable Practices: Growing adoption of organic farming and environmental concerns are driving the use of natural plant growth regulators.
Biotechnology Advancements: Innovations in agricultural technology and genetically modified crops.
Challenges:
High Costs: PGRs, especially natural ones, can be expensive for small-scale farmers.
Regulatory Hurdles: Stringent regulations and varying regional standards.
Lack of Awareness: Limited understanding of PGR benefits in developing regions.
Market Trends
Increasing Use of Biostimulants: Preference for biostimulants due to their eco-friendly nature.
Shift Toward Organic Farming: Rising consumer preference for organic food products.
Integration of IoT in Agriculture: Precision agriculture using IoT to optimize PGR application.
Competitive Landscape
Key players in the market include:
BASF SE
Syngenta AG
FMC Corporation
Bayer CropScience
DuPont
Nufarm Limited
These companies focus on R&D, partnerships, and mergers to strengthen their market positions.
Future Outlook
The PGR market is poised for significant growth as agriculture embraces digital tools and biotechnological advances. Increasing awareness of the benefits of PGRs and supportive government policies are expected to further boost market demand. Emerging economies in Asia-Pacific and Latin America will offer lucrative opportunities for industry players.
Key Market Study Points
Growth Potential: Analyze key growth regions and segments.
Sustainability Impact: Understand the role of PGRs in promoting sustainable agriculture.
Technological Integration: Evaluate the impact of technology on product development and application.
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