Plant Growth Regulators Market Insights: Enhancing Agricultural Productivity and Sustainability

The global plant growth regulators (PGRs) market was valued at USD 4.23 billion in 2023 and is projected to grow from USD 4.67 billion in 2024 to USD 11.50 billion by 2032, achieving a compound annual growth rate (CAGR) of 11.91% during the forecast period (2024-2032). This information is detailed in the report “Plant Growth Regulators Market, 2024-2032” by Fortune Business Insights™.

Studies show that PGRs for trees, shrubs, groundcovers, and hedges can reduce pruning and trimming labor by approximately 50%. Unlike natural plant hormones, PGRs are artificially synthesized to support plant growth and development. The market for PGRs is expected to grow significantly due to rising demand for high-quality food grains. According to the Indian Council for Agricultural Research (ICAR), food grain consumption in India is projected to reach 345 million tonnes by 2030. Additionally, Asian PGR companies are actively acquiring other firms to expand their regional presence and enhance their brand reputation.

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/queries/plant-growth-regulators-market-103064

Segments

On the basis of type, the market is categorized into Cytokinins (CKs), auxins, gibberellins, ethylene, and others. The cytokinins segment held a dominant share of the market in 2020.

By crop type, the market is classified into cereals, oilseeds & pulses, fruits & vegetables, turf & ornamentals, and others.

In terms of region, the global market is segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

We offer reports with a comprehensive examination approach, focusing on delivering accurate and reliable information. Our analysts employ a data navigation method to ensure precise predictions and a thorough understanding of market dynamics. Additionally, we have access to a wide range of both international and domestic databases, allowing us to provide up-to-date information so stakeholders and business professionals can make well-informed decisions in key areas.

Driving Factors

Growing Requirement for Improved Crop Productivity Stoked by Government Sustenance

The growing need to enhance crop productivity, coupled with rising global consumption, is driving the expansion of the plant growth regulators (PGRs) market. The COVID-19 pandemic has heightened the demand for cereals worldwide, with key cereal-producing countries such as India, China, Russia, the U.S., Indonesia, Brazil, Argentina, and France leading this trend. Additionally, increasing population and evolving consumer lifestyles are significantly boosting the demand for various crops, particularly cereals, which is expected to further stimulate market growth.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/customization/plant-growth-regulators-market-103064

Regional Insights

The U.K. is expected to emerge as a significant market for plant growth regulators (PGRs) during the forecast period. In Europe, France held the largest market share for PGRs in 2020, accounting for 21.97%, and is anticipated to maintain its leading position. The U.S. led the North American PGRs market in 2020, benefiting from a strong presence of various producers.

Asia Pacific is projected to exhibit substantial growth potential for the PGR market, driven by rising disposable incomes and improving living standards in the region.

Competitive Landscape

Inventive Product Launch Declarations by Crucial Players to Boost Market Growth

Leading players in the plant growth regulators (PGRs) market use a range of strategies to strengthen their market position. They frequently acquire companies to enhance their brand value and expand their market presence. Additionally, they focus on periodically launching innovative products, supported by comprehensive market research and a deep understanding of their target audience.

Industry Development

March 2021: Sumitomo Chemical Co., Ltd., a Japanese chemical company, presented its novel series of plant growth inhibitors in Brazil under the FYSIUM brand. The novel product was designed to ripen apples and delay their post-harvest quality to last for longer time.

List of Key Players Covered in the Report

• BASF SE (Mannheim, Germany)
• Bayer AG (Leverkusen, Germany)
• Corteva, Inc. (Delaware, U.S.)
• Syngenta AG (Basel, Switzerland)
• Nufarm Ltd. (Melbourne, Australia)
• Sumitomo Chemical Co. Ltd. (Ehime, Japan)
• UPL Limited (Mumbai, India)
• FMC Corporation (Pennsylvania, U.S.)
• Tata Chemicals Ltd. (Mumbai, India)
• Sichuan Guoguang Agrochemical Co., Ltd (Sichuan, China)

Read Related News:

https://www.myvipon.com/post/1199890/Soup-Market-Industry-Trends-Forecast-2032-amazon-coupons

https://www.patreon.com/posts/112859276?pr=true

https://bloggalot.com/food/soup-market-size–share–growth-insights-and-forecast-to-2032

https://fortunetelleroracle.com/news/soup-market-size–share–report-analysis-by-2032-928662

https://lavender-lily-hhdtzg.mystrikingly.com/blog/soup-market-size-share-growth-forecast-through-2032

https://cruzsmith.hashnode.dev/soup-market-size-share-and-growth-forecast-to-2032

https://locantotech.com/?p=165382&preview=true

Email: [email protected]

LinkedIn Facebook Twitter