Plant Growth Regulators Market Current and Future Plans, Industry Analysis and Prospect by Forecast

 

Certain chemical substances influence the growth and differentiation of plant tissues, cells, and organs. These chemical substances are known as plant growth regulators. These regulators work as chemical messengers for the purpose of intercellular communication. They are called as plant hormones.

Of late, plant growth regulators have gathered popularity in various parts of the world, especially in countries where agriculture plays a significant role. In these countries, these products are utilized as bi-stimulants or bio-inhibitors and it changes the physiological processes of all the plants.

Agricultural sector is likely to be automated and mechanized as advancement in science improves chances of utilization of novel inputs. These novel inputs are expected to maximize yield of crops in the years to come. These factors are estimated to propel growth of the global plant growth regulators market. 

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Some of the names to reckon with in the global plant growth regulators market are TATA Chemicals, Valent Bioscience Corporation, Adama Agricultural Solutions Ltd, Redox Industries Limited, Arysta LifeScience Corporation, and Sumitomo Chemical Co. Ltd. 

Exhausting extensive methods of research, Transparency Market Research prophesizes that the global plant growth regulators market is anticipated to rise at a robust growth over the timeframe of forecast. 

Increased Awareness to Accelerate Market Growth in Asia Pacific

The global plant growth regulators market is likely to be divided into the key regions of North America, Middle East and Africa, Asia Pacific, Europe, and Latin America. These regional segments are anticipated to provide an in-depth analysis of the regional markets with both micro and macro economic factors at play. 

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Asia Pacific is likely to exert dominance in the global plant growth regulators market over the tenure of forecast. The region is likely to continue with its regional dominance in the years to come as well. Increased awareness about plant growth regulators coupled with government initiatives to encourage its use has helped in fostering growth of the plant growth regulators market. Several countries in Asia Pacific rely on agriculture, which is likely to offer lucrative opportunities of growth for the plant growth regulators market in the region. 

Region

·         North America

·         Europe

·         Middle East and Africa

·         Asia Pacific

·         Latin America 

Increased Demand for Organically Produced Goods Offers Lucrative Growth Opportunities 

The increasing demand for organically produced goods is likely to generate more demand for the chemical thereby driving the growth of the global plant growth regulators market in years to come. At present, several pharmaceutical companies are making huge amount of investment in research and development to come up with medicines made from plant extracts. These medicines are herbal medicines.

Biotechnology and medicine fields have witnessed tremendous technological progress in the last few years. Such technological progress is expected to assist in the development of disease specific plant growth regulators. With the emergence of edible vaccines, it is likely that the global plant growth regulators market will witness growth in years to come. As edible vaccines make foray into the market, it is expected that the growth of the global plant growth regulators market will witness further growth. 

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The global plant growth regulators market is segmented based on: 

Hormone Type

·         Auxin

·         Gibberellin

·         Cytokinin

·         Ethylene

·         Abscisic Acid

·         Others

Function

·         Promoters

·         Inhibitors 

Crop Type

·         Fruit & Vegetables

·         Cereals & Grains

·         Oilseed & Pulses

·         Turf & Ornamentals

Formulation

·         Solutions

·         Wettable Powder

·         Soluble Powder

·         Tablets

·         Water Dispersible

Plant Growth Regulators Sales Surge with Shifting Focus towards In-house Gardening

The use of plant growth regulators among landscape contractors and lawn care operators has been on the rise, as they become aware about the potential benefits including slow grass growth, improved health & stress tolerance of turf, and better root development, which help reduce the amount of clippings and frequency of mowing.

Emerging trends of in-house gardening and farming favoring growth of the plant growth regulators market growth, as more farmers shift towards the use of agrochemicals to enhance crop protection and provide nutrition-rich produce. Demand for natural plant growth regulators also continues to grow, with rapid adoption of organic farming that is influenced by the rising demand for organic and natural products worldwide.

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Plant Growth Regulators Sales Surge in Europe with Rising Adoption of Organic Farming Practices

The preference for organic farming is significant in Europe, representing nearly 7% of the total EU agricultural land in 2017, which has significantly influenced the demand for plant growth regulators. The onus on green and sustainable farming practices, along with the focus of consumers on decorative farming and roof gardening, has been paving lucrative avenues for manufacturers of plant growth regulators in Europe.

From the regulatory control perspective, plant growth regulators are identified as ‘pesticide’, and therefore Codex Alimentarius Commission and European Union (EU) have set the ‘Maximum Residue Limits (MRLs)’ for plant growth regulators. Such regulatory constraints along with minimal product innovations may hinder adoption of plant growth regulators in Europe.

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