How Has the Plant Growth Regulators Market Evolved Historically and What is its Current Size?
The plant growth regulators market has seen considerable growth due to a variety of factors.
•In the past few years, the plant growth regulators market has seen considerable growth. The market size is expected to increase from $3.23 billion in 2024 to $3.54 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%.
Factors such as the rising demand for food production, farmers' increasing awareness and adoption, government initiatives and regulations, emphasis on crop quality and yield, as well as the expansion of the agricultural industry have contributed to the growth observed in the historic period.
What is the Forecasted Market Size and CAGR for the Plant Growth Regulators Market?
The plant growth regulators market is expected to maintain its strong growth trajectory in upcoming years.
• The market for plant growth regulators is anticipated to experience substantial growth in the ensuing years, with an expected growth to "$5.16 billion in 2029, indicating a compound annual growth rate (CAGR) of 9.9%.
The projected growth during this period is due to a number of factors such as continuous population increase, impact of climate change, emphasis on sustainable farming, expansion in developing countries, and multiple collaborations and partnerships. The key trends observed during this period include enhancements in biotechnology, technological advancements in agriculture and plant growth regulator production, rise in demand for organic goods, and broadening applications across different types of crops.
What Are The Key Drivers Fueling Growth In The Plant Growth Regulators Market?
The plant growth regulators market is poised for growth, fuelled by the escalating demand for organic farming. Organic farming involves the cultivation of crops, livestock, and other goods, devoid of synthetic chemical pesticides, antibiotics, Genetically Modified organisms, growth-boosting hormones, or any other chemicals. Plant growth regulators, which enhance crop quality and yield, amplify root growth, and increase the size and productivity of certain crops like grapes and strawberries, are extensively used in organic farming. This usage acts as a catalyst for the plant growth regulators market. For example, data from IFOAM Organics Europe, a non-profit organization based in Belgium, reveals that in 2022, organic production occupied 16.9 million hectares of farmland in the EU. This represents a growth of 10.8% in the group of organic producers compared to 2021, totaling 419,112. Hence, the burgeoning demand for organic farming acts as a primary driver for the expansion of the plant growth regulators market.
What Are The Principal Market Segments In The Global Plant Growth Regulators Industry?
The plant growth regulators market covered in this report is segmented –
1) By Type: Cytokinins, Auxins, Gibberellins, Ethylene, Other Types
2) By Formulation: Water-Dispersible And Water-Soluble Granules, Wettable Powders, Solutions
3) By Application Type: Fruits And Vegetables, Cereals And Grains, Oil Seeds And Pulses, Turf And Ornaments
Subsegments:
1) By Cytokinins: Zeatin, Kinetin, Benzyladenine (BA), Thidiazuron (TDZ)
2) By Auxins: Indole-3-Acetic Acid (IAA), Indole-3-Butyric Acid (IBA), Naphthalene Acetic Acid (NAA), 2,4-Dichlorophenoxyacetic Acid (2,4-D)
3) By Gibberellins: Gibberellic Acid (GA
3), GA4 And GA7 (Gibberellins A4 And A
7), Gibberellin Mixes
4) By Ethylene: Ethephon, Ethylene Gas Solutions, Ethylene Releasing Compounds
5) By Other Types: Abscisic Acid (ABA), Jasmonic Acid, Brassinosteroids, Salicylic Acid
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Which Emerging Market Trends Are Altering The Plant Growth Regulators Sector?
Key players in the plant growth regulators industry have shifted their focus towards the innovation of new products - particularly through the combination of plant growth regulators - to uphold their market standing. Mixing various growth hormones or man-made compounds is a technique used to improve and control plant development and growth more effectively. An example of this occurred in July 2024 when Zhejiang Sega Science and Technology Co.Ltd, a farming company located in China, unveiled their product A PANG. This plant growth regulator blends Choline chloride and S-Abscisic acid with the aim of boosting photosynthesis and enhancing crop endurance. This combination facilitates improved nutrient distribution, stimulates tuber growth, and enhances crop quality and output.
Who Are the Key Players in the Plant Growth Regulators Market?
Major companies operating in the plant growth regulators market include:
• BASF SE
• Bayer Crop Science
• Corteva Agriscience
• Sumitomo Chemica Co. Ltd
• Syngenta AG
• Valent BioSciences Corporation
• NuFarm Ltd.
• Food Machinery & Chemical Corporation
• ADAMA India Private Limited
• Nippon Soda Co. Ltd.
• Arysta LifeScience Corporation
• Tata Chemicals Limited
• Sichuan Guoguang Agrochemical Co. Ltd
• United Phosphorus Limited
• Redox Industries Ltd
• Xinyi (H.K.) Industrial Co. Ltd.
• WinField Solutions LLC
• Nissan Chemical Corporation
• Sikko Industries Ltd.
• Crop Care Australasia Pty Ltd.
• Biolchim S.p.A.
• Novozymes A/S
• Isagro S.p.A.
• Fine Americas Inc.
• Agro-K Corporation
• Plant Hormones Ltd.
• Albaugh LLC
• Westbridge Agricultural Products
• Loveland Products Inc.
What are the Regional Insights into the Plant Growth Regulators Market?
Europe was the largest region in the plant growth regulators market in 2024. The regions covered in the plant growth regulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
