About Plant Growth Regulator
Due to upsurging demand for agriculture products across the globe, farmers are being encouraged to select or invent new crop yielding me methods which may include the use of agrochemicals, fertilizers, plant growth regulators (PGRs), and many others. With respect to profitability concern, it will further fuel the demand for organic farming and the adoption of PGRs. These regulators have sought extensive adoption in the modification of plant physiological processes that include regulating the plant metabolism and inhibiting or stimulating enzyme systems.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Europe |
Unit | Value (USD Billion) |
CAGR | 6.2% |
The market is extremely consolidated, with a small number of competitors controlling the majority of global market share. Market players, particularly in the fruit and vegetable sectors, are eager to offer new crop-targeted products. Another tactic used by market leaders is to invest in R&D of low-cost, effective products.The Vendors having a strong hold in the market are BASF SE, Syngenta AG, Bayer CropScience AG, Nufarm Ltd., FMC Corporation. Analyst at AMA Research estimates that Asian Vendors will contribute the maximum growth to Global Plant Growth Regulator market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BASF SE (Germany), Syngenta AG (Switzerland), Bayer CropScience AG (Germany), Nufarm Ltd. (Australia), FMC Corporation (United States), Sumitomo Chemical Company, Limited (Japan), Sichuan Guoguang Agrochemical Co. Ltd (China), Xinyi (H.K.) Industrial Co. Ltd. (Hong Kong), Crop Care Australasia Pty. Ltd. (Australia) and Cheminova A/S (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Vangaurd Corporation (United States), DuPont (United States) and Redox Industries Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Plant Growth Regulator market by Type (Cytokinins, Auxins, Gibberellins, Ethylene/Ethylene Releasers and Mepiquat Chloride), Application (Planting and Experiment) and Region.
On the basis of Type, Auxins are dominating the market in the year 2021On the basis of application, Planting segment is dominating the market in the year 2021On the basis of geography, the market of Plant Growth Regulator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Crop, the sub-segment i.e. Fruits and Vegetables will boost the Plant Growth Regulator market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
April 2021: Corteva, Inc. and Symborg, an expert in microbiological technologies, announced an agreement around a microbe-based nitrogen fixation product in the U.S., Canada, Brazil and Argentina. The Corteva product, to be branded as Utrisha N nutrient efficiency optimizer, works in natural field conditions, adapting to the plants’ growth needs and helping to maximize crop yield potential sustainably.
In April 2020, BASF introduced a plant growth regulator named Attraxor for turf and other types of grasses in the United Kingdom. It contains Prohexadion(10%w/w) as the main ingredient. and In 2020, Syngenta Canada registered Moddus, a new plant growth regulator that helps mitigate lodging risk in wheat, barley, and oats. Moddus contains trinexapac-ethyl, an active ingredient with years of proven use to manage lodging in cereal crops worldwide.
Products regulated as supplements under Fertilizers Act claims that a plant growth regulator functions to enhance root development or the vegetative development of a plant are interpreted as supplement claims and are subject to the Fertilizers Act. Such claims include, but are not limited to, breaking dormancy, induction of early germination or sprouting, root development and vegetative growth promotion. Supplement claims also include soil conditioning and any growth regulator property attributed to vitamins.
Market Drivers
- Growth in the Textile Industry across Countries such as Germany, Bulgaria, India, China and Others
- Increasing Need Improved Crop Yield with respect to Growing Population
Opportunities
- Rapid Development of Global Textile Industry will Generate Significant Demand
- Large Scale Adoption of Cytokinins and Auxins
Restraints
- Irregular Rainfalls and Lack of Awareness about Plant Growth Regulator
- Unfavorable Impacts of Plant Growth Regulators in Many Cases
Challenges
- Comparatively Expensive Plant Growth Solutions
- Availability of Substitutes as well as Natural Remedies
Key Target Audience
PGR Manufacturers, PGR Distributors and Traders, Agricultural Industry Associations, Fertilizer Manufacturers and Traders, Research and Development Organizations, Government Agencies, Regulatory Authorities and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.