Plant Growth Regulators Market is estimated to grow at the CAGR of 8.5%

Reports And Markets Publish a New Market Research Report On – "Plant Growth Regulators Market-By Type, Crop Type And Geography-Trends and Forecasts (2016 -2021)"

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Market Insight

Crop specific product development has been the major strategy adopted in plant growth regulator industry to gain better market penetration throughout the world. BASF’s Caryx has been specifically designed for oilseed rape instead of being an existing cereal fungicide that has had the label extended for use on rape. Plant Growth Regulators are chemical compounds, other than nutrients, that modify plant physiological processes. The industry is in nascent stage as the market was worth $4141 million in 2015. The market is estimated to grow at the CAGR of 8.5% during the forecast period of 2016-2021 and is estimated to reach $6855.5 million by 2021.

Market Dynamics

The organic food industry which is growing at the healthy growth rate is the major driving force behind the growth of plant growth regulators industry. Stress from Governments and government organizations on sustainable farming is another driving factor. Less awareness among the farmers about the use and application of PGR is restraining the growth of the market. Lower productivity of PGR as compared to chemical fertilizers has stunted the growth and less product innovations is further creating negative impact on market demand.

Market Segmentation

The global plant growth regulators market is described on the basis product types, crop application and by geography. Among all the growth regulators, Cytokinins are widely consumed and accounts for around 40% of the market share. Cytokinins are also the fastest growing segment during the forecast period as they enhance stress tolerance and stimulate protein synthesis. Auxin is the second largest segment and the consumption is expected to expand with demand for medicinal plants and growth in turf and landscaping. Cereals and oilseeds are the major consumers of plant growth regulators followed by fruits & Vegetables together accounting for 75% of the market share.

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Regional Analysis

Europe is the largest market accounting for around 45% of the market share. Growth in consumption of organic food is driving the market in this region. North America is the second largest market and the market is expected to expand with increased supply of quality products from key players. Asia-Pacific is estimated to grow at the fastest CAGR of due to growth in rate of adoption of sustainable farming and increased organic food consumption. China and India are the high growth markets in the region whereas South East Asian countries are the potential markets. Brazil is the major market in South America and is also expected to grow at the fastest CAGR of 9.3% in the region.

Competitive Environment

The key players in the market are focused on new product launch to cater to wider consumer base and expand market share. Investment in research and development of cheap effective products is another strategy adopted by market leaders. The major players in the market are BASF SE, Bayer Crop Science, DuPont, etc.

Key Deliverables in the Study

Market analysis for the Global Plant Growth Regulators Market, with region specific assessments and competition analysis.

Market overview and identification and analysis of the macro and micro factors that affect the (name of the report), on both, global and regional scale and instrumental in changing the market scenario.

Extensively researched competitive landscape section with profiles of major companies and their market share, along with analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.

The report holds importance for the following stakeholders-

Farmers, producers and manufacturers

Agricultural input companies

Enterprises operating in the industry

Traders and stakeholders operating in the sector

Investors/research institutions interested in the market

Customization Options:

Technical Analysis

Supply Chain Analysis

Regulatory Framework

Trade Analysis

Trend Analysis

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