Plant Growth Regulators Market to Reach $5.94 Billion by 2031, Driven by Sustainable Farming Practices and Crop Yield Enhancement

In terms of value, the plant growth regulators market (marché des régulateurs de croissance des plantes) is expected to reach $5.41 billion by 2031, at a CAGR of 9% from 2024 to 2031, while in terms of volume, the market is expected to reach 126,145.1 tons by 2031, at a CAGR of 6.6% from 2024 to 2031.

The growth of this market is being propelled by factors such as the increasing need for sustainable agricultural practices, growth in organic farming & the rising demand for organic food, increased investments from leading market players, and the rising demand for high-value crops. However, the regulatory and financial hurdles for new market entrants and farmers' limited awareness about plant growth regulators are restraining the growth of this market. Moreover, emerging countries with agricultural diversity and extensive arable lands are expected to offer growth opportunities for the players operating in this market. On the other hand, lengthy product registration and approval procedures are a major challenge impacting market growth.

The global plant growth regulators market is expanding significantly. Researchers at Meticulous Research predict strong growth through 2031. These specialized chemicals help control how plants grow and develop, becoming increasingly important in modern farming.

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Market Size and Growth:

The market is expected to reach $5.41 billion by 2031, growing at a healthy rate of 9% per year from 2024. In terms of actual product volume, the market will likely exceed 126,000 tons by 2031, with a growth rate of 6.6% annually. This growth shows that farmers are recognizing the value of these products in enhancing crop yields and quality.

Key Players:

Some of the key players operating in the plant growth regulators market (植物成長調整剤市場) are BASF SE (Germany), Corteva, Inc. (U.S.), Syngenta AG (A Part of China National Chemical Corporation/ChemChina) (Switzerland), FMC Corporation (U.S.), Nufarm Limited (Australia), Bayer AG (Germany), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Tata Chemicals Ltd. (India), Nippon Soda Co., Ltd. (Japan), Barclay Chemicals Manufacturing Limited (Ireland), Fine Americas Inc. (U.S.), Hangzhou Tianlong Biotechnology Co., Ltd. (China), Sichuan Guoguang Agrochemical Co., Ltd. (China), and Sikko Industries Limited (India).

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What's Driving This Growth?

Several factors are driving this market forward. Farmers worldwide are looking for more sustainable ways to grow crops. There is also rising demand for organic food that requires careful plant management. Furthermore, there is growing interest in high-value crops that can fetch better prices in the market. Major agricultural companies are investing heavily in this sector, aware of its potential.

However, the market faces some challenges. New companies struggle to enter due to regulatory hurdles and high costs. Many farmers still do not fully understand how plant growth regulators can benefit them. The lengthy approval processes for new products also slow down market growth.

Types and Applications:

Plant growth regulators come in various types, each serving different purposes. Cytokinins currently lead the market because they support multiple aspects of plant development, from root growth to fruit formation. However, gibberellins are expected to grow the fastest, especially since they help plants thrive in challenging weather conditions.

Most products are sold as water-dispersible granules because they are easy to use, dissolve quickly, and last longer than liquid alternatives. Farmers mainly use these products as growth promoters rather than inhibitors, reflecting a focus on boosting crop productivity.

Crop Applications:

Cereals and grains make up the largest market segment, driven by the global need for food security and government support for grain production, especially in India and China. However, fruits and vegetables are showing the fastest growth potential. This is due to increasing consumer demand for high-quality, chemical-free produce and the products' ability to extend harvest periods and improve shelf life.

Regional Outlook:

Europe currently leads the global market, driven by population growth, shrinking farmland, and strong government support for organic farming. However, Asia-Pacific is expected to show the highest growth rates. The region's vast agricultural lands, rapidly growing population, and increased focus on agricultural productivity create ideal conditions for market expansion, with China and India leading the way.

The plant growth regulators market (mercato dei regolatori della crescita delle piante) represents a vital intersection of traditional farming and modern agricultural science. It offers solutions for feeding a growing global population while promoting environmental sustainability.

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, formulation, function, crop type, and geography?

What is the historical market size for plant growth regulators across the globe?

What are the market forecasts and estimates for the period 2024-2031?

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