Skip to main content

Plant Growth Regulators Market worth 2.93 Billion USD by 2022, at a CAGR of 6.8%

Plant Growth Regulators Market worth 2.93 Billion USD by 2022, at a CAGR of 6.8%MarketsandMarkets™The plant growth regulators market was valued at USD 1.98 billion in 2016 and is projected to grow at a CAGR of 6.8% from 2017, to reach USD 2.93 billion by 2022.

The report "Plant Growth Regulators Market by Type (Auxins, Cytokinins, Gibberellins, Ethylene), Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Turf & Ornamentals), Formulation, Function, Origin, and Region - Forecast to 2022", The plant growth regulators market is estimated to be valued at 2.11 Billion in 2017 and is projected to reach a value of USD 2.93 Billion by 2022, at a CAGR of 6.8% during the forecast period. The market is driven by factors such as growing consumer preference for organic foods, new product registrations, increase in arable land and technological advancements in the agricultural industry.

Plant Growth Regulators Market

Long approval period for new products

The approval process of plant growth regulators is very lengthy, due to multi-location field trials and residual effects. Due to the stringent regulatory approval process, the average time taken to bring a new crop protection product to market can exceed 10 years and cost more than USD 100 million. Patent protection and exclusivity are critical in helping companies recover the costs of research & development, incentivizing them to make future investments that will lead to continued industry-wide growth. Increased costs due to product development and greater regulatory time period led to increasing in retail prices, which again reduced the net profit value for growers. The decreased profit margins cannot help in improving the share of plant growth regulators in the global agrochemicals market.

Download PDF Brochure:

Even for generic products, it can take up to five years to get the product registered. The regulatory bodies do not have adequate resources and infrastructure to execute timely registration of products. At times, the rules are not clearly defined, creating interpretation challenges for the regulatory bodies, leading to confusion, thereby adding to the complexities for the crop protection chemical companies.

The gibberellins segment is projected to grow at the highest CAGR during the forecast period

Based on type, the plant growth regulators market has been segmented into cytokinins, auxins, gibberellins, and ethylene, wherein the gibberellins segment is projected to grow at the highest CAGR during the forecast period. There is a total of 80 different gibberellin compounds which exist in plants; however, only gibberellic acid (GA3) and GA4+7 compounds are the most popularly used varieties. Gibberellins are available in around 126 forms, not only in plants but also in fungi and bacteria. The wider availability and efficiency to induce growth in smaller quantities makes it as the fastest-growing segment.

The water-dispersible & water-soluble granules, by formulation, accounted for a larger share of the plant growth regulators market in 2017

The water-dispersible & water-soluble granules segment accounted for a larger share of the global plant growth regulators market in 2017. They are most popular forms of plant growth regulators in the agricultural industry. They provide advantages such as easy to handle, non-toxic, and are more stable during storage and transportation. Moreover, water-dispersible & water-soluble granules are gaining growth in the market due to ease of transportation as they can be transported and shipped in solid packets.

The plant growth promoters segment, by function, accounted for a larger share of the plant growth regulators market in 2017

Plant growth regulators or phytohormones are segmented as plant growth promotors and plant growth inhibitors as per their functionality. The plant growth promoters segment accounted for a larger share of the global plant growth regulators market in 2017. Some of the most popular plant growth promoters include auxins, gibberellins, and cytokinins. They help in growth and development during flowering, fruiting, root initiation, and overall increase in yield. Plant growth promoters are used in various fruit & vegetables to enhance the flowering process. With the growing demand for high value crops such as fruits, the demand for plant growth promotors is also increasing.

Speak to Analyst:

The Asia Pacific region dominated the plant growth regulators market in 2017

India and China being the most populated countries led to higher demand for food in the region resulting in adoption of practices such as use of plant growth regulators. In 2017, the Asia Pacific region accounted the higher share in the global market for plant growth regulators. According to MarketsandMarkets, factors such as rapid technical advancements, government encouragement for organic farming, and increase in crop production drives the plant growth regulators market in the Asia Pacific region. Plant growth regulators are receiving acceptance as they are expected to increase long-term agricultural productivity and help realize the goal of food self-sufficiency.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as BASF (Germany), Corteva (US), Syngenta (Switzerland), FMC Corporation (US), and Nufarm (Australia). Other players include Bayer CropScience (Germany), Nippon Soda (Japan), Tata Chemicals (India), Valent Biosciences (US), Xinyi Industrial (China), ADAMA (Israel), UPL (India), Sumitomo Chemical (Japan), and WinField Solutions (US).

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.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.