Plant Growth Regulators Market Scope, Global Analysis 2020, Regional Trend, Industry Demand, Current and Future Plans by Forecast to 2023
Research Reports
Dec 29, 2020
Market Overview
As the global population is increasing, the demand for food and quality products is also growing. These regulators enhance the growth and isolation of organs, tissues, and cells of the plants. The rise in demand for organic foods has increased organic food production, directly helping the plant growth regulators market. Also, as the cultivable land is limited and to meet the increasing food demands, this practice is gaining prevalence from all regions. The developing areas are the major markets in the current era due to requirements for the latest farming techniques and expanding the agriculture industry. Plant growth regulators are also capable of enhancing the final products with reduced overall costs.
The emphasis on the conservation of food quality and demands for high nutrition-rich foods further boosts the market’s growth. This market is getting a considerable response from all regions due to increasing awareness and government initiatives emphasizing the adoption of the latest farming techniques to increase the revenue generations for farmers and increasing agricultural production. Also, these regulators are capable of generating better results than other fertilizers, which adds to the growth of this market.
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Key Players in the Plant Growth Regulators Market
- China National Chemical Agrochemical Corporation (China)
- Platform Specialty Products Corporation (US)
- BASF SE (Germany)
- Bayer AG (Germany)
- DowDuPont (US)
- NIPPON SODA CO., LTD. (Japan)
- Nufarm Limited (Australia)
- Sumitomo Chemical Co., Ltd. (Japan)
- FMC Corporation (US)
- Tata Chemicals Ltd. (India)
- Xiny(H.K.) Industrial Co., Ltd. (China)
Market Breakdown
Based on origin, this market is categorized into synthetic and natural sources.
Plant growth regulators are used for grains, cereals, fruits, vegetables, oilseeds, and other crops based on crop types.
Based on types of products, cytokinins, auxins, ethylene, abscisic acid, and other types of products are available.
Based on form, the global plant growth regulators are available in powder, liquid, and granule forms.
Regional Classification
Global Plant Growth Regulators Market have become an essential part of the farming practices globally and have helped them generate high revenues with less expenditure while meeting the growing food demands. North America, Asia Pacific, Europe, and the rest of the world are the major regions observed for the global plant growth regulators market. In the current era, the North American region is the current market leader and will maintain the lead due to demands for quality foods, demands for latest farming techniques, presence of key market leaders, and other factors. On the other hand, the Asia Pacific region is projected to file the highest growth rates during this period due to the vast population, increasing food demands, government emphasis, and other factors.
Industry News
The global plant growth regulators market has gained massive responses from around the globe and is expected to show more stable growth. However, the market is struggling against the introduction of rigid regulations in this direction. The rapidly developing regions will account for the significant increase in this market and show the maximum opportunities concerning the future.
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