Plant Growth Regulators Market by Type (Abscisic acid (ABA), Auxins, Cytokinins), Form (Solutions, Tablets, Water-dispersible Granules), Function, Crop Type - Global Forecast 2024-2030

Plant Growth Regulators Market by Type (Abscisic acid (ABA), Auxins, Cytokinins), Form (Solutions, Tablets, Water-dispersible Granules), Function, Crop Type - Global Forecast 2024-2030

The Plant Growth Regulators Market size was estimated at USD 3.34 billion in 2023 and expected to reach USD 3.56 billion in 2024, at a CAGR 7.13% to reach USD 5.41 billion by 2030.

Plant growth regulators (PGRs) are chemicals that influence the growth and developmental processes of plants and are essential in managing the physical and physiological reactions of plants, such as cell division, root and shoot growth, and flowering. Innovations in biotechnology and genetic engineering have enhanced the effectiveness and safety of PGRs. The rise in organic farming globally has spurred interest in natural and organic growth regulators. With the world population growing, there is a heightened need for enhanced crop yield and quality, which PGRs can facilitate, contributing to market growth. However, strict regulations regarding the usage of chemical regulators may limit market growth. Limited knowledge about the benefits and proper use of plant growth regulators creates challenges for the market growth. Moreover, the development of new compounds that are more efficient, cost-effective, and environmentally sustainable are expected to generate growth opportunities in the market space. Creating crop-specific growth regulators that can address particular needs and enhance yields also create opportunities for market expansion.

Regional Insights

In the United States and Canada, the adoption of plant growth regulators is driven by advanced agricultural practices and a strong institutional framework supporting agricultural innovation. Researchers and companies in the Americas region often lead in developing and commercializing new plant growth regulator formulations. In the European Union, regulations play a significant role in shaping the market based on ongoing research that often focuses on developing plant growth regulators complying with the EU’s stringent environmental standards. Middle Eastern countries, particularly those with large-scale agricultural projects such as in Saudi Arabia and the UAE, invest in technologies that can maximize yield within arid conditions. Africa’s interest in plant growth regulators is growing, driven by the need to improve food productivity and security. The Asia Pacific region emerges as a robust market for plant growth regulators, heavily driven by agricultural countries including China, Japan, and India. High population densities create strong pressure on efficient agricultural outputs, making the APAC region particularly reliant on advancements in agricultural technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Plant Growth Regulators Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing need for sustainable agriculture to reduces the environmental impact of farming
Government subsidies and incentives encouraging agriculture production
Rising focus on increase crop productivity

Market Restraints

Long approval period for new plant growth regulators

Market Opportunities

Emerging use of nanotechnology and nano fertilizers
Research activities for developing new and advanced plant growth regulators

Market Challenges

Lack of awareness among growers regarding benefits of plant growth regulators

Market Segmentation Analysis

Type: Exploring the role of plant growth regulators in development, stress response, and agricultural applications
Crop Type: Enhancing crop production using plant growth regulators in agriculture

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Plant Growth Regulators Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Plant Growth Regulators Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Strategic Expansion and Innovation Drive at GSP Crop Science

GSP Crop Science, an agricultural solutions provider, has announced its plan to expand its reach in the plant growth regulator market in India and abroad. The company's plant growth regulators line, including hormone-based products, has been highly effective in promoting plant growth and ensuring maximum yields. GSP Crop Science's efforts to expand in this market are expected to benefit farmers while contributing to agricultural sectors' sustainable development.

Corteva Enhances Its Footprint in the Biologicals Market Through Strategic Acquisitions

Corteva, Inc. acquired Symborg and Stoller. Symborg, located in Murcia, Spain, to leverage Symborg’s diverse portfolio and emerging biocontrol pipeline, along with Stoller’s proven commercial model and technical acumen, to meet the demands of the rapidly expanding biologicals sector. These strategic moves underscore Corteva’s commitment to advancing sustainable agricultural practices and enhancing farm productivity through innovative, environmentally friendly solutions.

Sumitomo Chemical's Acquisition of FBSciences, Strategic Expansion in the Biorationals Sector

Sumitomo Chemical Corp. acquired FBSciences Holdings, Inc. (FBS), a company specializing in the development, manufacturing, and marketing of biostimulants and biopesticides. The integration of FBS's proprietary technologies and product offerings is expected to drive further growth and innovation in the biorational market, aligning with global trends towards sustainable agriculture.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Plant Growth Regulators Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Plant Growth Regulators Market, highlighting leading vendors and their innovative profiles. These include ADAMA Agricultural Solutions Limited, Arysta LifeScience Corporation, Awiner Biotech, Barclay Chemicals Manufacturing Limited, BASF SE, Bayer AG, BioWorks Inc., Corteva Agriscience, Dhanuka Agritech Limited, Dharmaj Crop Guard Limited, DowDuPont Inc., Eastman Chemical Company, Excel Crop Care Ltd., Fine Americas Inc., FMC Corporation, Gold Biotechnology, Inc., Helena Chemicals Inc, Kalyani Industries Limited., Loveland Products Inc, Merck KGaA, Nippon Soda Co., Ltd., Nufarm Ltd., PBI-Gordon Corporation by PBI-Gordon Companies, Inc., Peptech Biosciences Ltd., PhytoTech Labs, Inc., Platform Specialty Products Corp (Albaugh LLC), PROXIMA BIO-TECH PVT LTD., Redox Industries Limited, SePRO Corporation, Sipcam Agro USA, Inc, Sumitomo Chemical Co., Ltd., Syngenta Crop Protection AG, Tata Chemicals Ltd., United Phosphorus Inc., UPL Europe Ltd., Valent Biosciences LLC, Volkschem Crop Science Pvt. Ltd., Wilbur-Ellis Company, WinField United. by Land O’Lakes, Inc., and Zagro.

Market Segmentation & Coverage

This research report categorizes the Plant Growth Regulators Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Abscisic acid (ABA)
Auxins
Cytokinins
Ethylene
Gibberellins
Form
Solutions
Tablets
Water-dispersible Granules
Wettable Powders
Function
Plant Growth Inhibitors
Plant Growth Promoters
Crop Type
Cereals & Grains
Corn
Rice
Wheat
Fruits & Vegetables
Oilseeds & Pulses
Cotton Seed
Soybean
Sunflower
Turf & Ornamentals
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year