Plant Growth Regulators Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Plant Growth Regulators Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The global plant growth regulators (PGR) market is set to expand from $2.96 billion in 2023 to $3.26 billion in 2024, achieving a compound annual growth rate (CAGR) of 9.9%. Despite challenges, the market is expected to grow significantly, reaching $4.63 billion by 2028 at a CAGR of 9.2%, driven by increased food production needs, farmer awareness and adoption, and government support.

Increasing Demand for Food Production Drives Market Growth
The growing need for enhanced food production is a major driver for the plant growth regulators market. With global food demands rising and a focus on improving crop quality and yield, PGRs play a crucial role in achieving these goals. Government initiatives and regulations further support the adoption of PGRs, reflecting their importance in modern agriculture.

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Major Players and Product Innovations
Leading companies in the plant growth regulators market include BASF SE, Bayer Crop Science, Corteva Agriscience, Sumitomo Chemical Co. Ltd., and Syngenta AG. These companies are heavily invested in product innovation to maintain market leadership. For instance, in May 2021, Rightline Equipment Inc. launched Prohex 27.5 WDG, a plant growth regulator designed to improve turf quality. This innovation reflects the industry’s push towards developing effective and user-friendly products.

Key Trends Shaping the Market
Several trends are expected to influence the market’s growth trajectory. Technological advancements in biotechnology and PGR production, along with increasing demand for organic products, are shaping the industry. The prevalence of crop diseases also drives market growth, as PGRs can enhance plant resistance and improve stress tolerance.

Market Segmentation
• By Type: Cytokinins, Auxins, Gibberellins, Ethylene, Other Types
• By Formulation: Water-Dispersible and Water-Soluble Granules, Wettable Powders, Solutions
• By Application Type: Fruits and Vegetables, Cereals and Grains, Oil Seeds and Pulses, Turf and Ornaments

Geographical Insights: Europe Leads the Market
Europe was the largest market for plant growth regulators in 2023 and continues to be a significant region due to its advanced agricultural practices and high adoption rates. The market in other regions is also expected to expand, driven by population growth and increasing agricultural investments.

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Plant Growth Regulators Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Plant Growth Regulators Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plant growth regulators market size, plant growth regulators market drivers and trends, plant growth regulators market major players, competitors' revenues, market positioning, and market growth across geographies. The plant growth regulators market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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