Plant growth regulators have sought extensive adoption in the modification of plant physiological processes that include regulating the plant metabolism and inhibiting or stimulating enzyme systems. Plant growth regulators also seek robust demand for the regulation of cotton metabolism. Growth in the textile industry across countries such as Turkey, Germany, Bulgaria, India, and China, is anticipated to create high demand for cotton, thereby driving adoption of plant growth regulators.
Rising profitability concerns for farmers has forced farmers to adopt novel methods like organic farming & usage of agrochemicals to ensure crop protection and also to reduce costs which is the major driving factor of the Global plant growth regulators market. Growing concerns among farmers about the plant health and productivity, increase in the food exports and imports, long-term usage of fertilizers are the few other factors which are expected to contribute to the growth of the Global plant growth regulators market. However, strict regulatory framework, lack of awareness and high costs of the products are the factors which are hindering the growth of the plant growth regulators market. In a bid to ensure crop protection and curtail production costs, farmers are being compelled to opt new methods that include use of agrochemicals and organic farming, on account of increasing profitability concern. This will further create high demand for plant growth regulators, particularly in the agriculture-driven economies. However, robust foothold of fertilizers in the agriculture sector, which has endured for a long time, is likely to constrain demand for plant growth regulators to a certain extent. Stringent regulations pertaining to pesticides are also anticipated to restrain demand for plant growth regulators by shifting the farmers’ focus toward cost-effective, bio-based alternatives.
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Plant Growth Regulators Market: Regional Analysis
North America was the largest market for organic fruits & vegetables, valued at USD XX billion in 201X. According to a report by the Organic Trade Association, organic food sales were valued at over USD XX billion in the U.S. in 201X. It accounts for about X% of total food sales in the country. Increasing demand for organic food is expected to propel the demand for the product in the region. North America accounted for a revenue share of XX% in 201X.
Asia Pacific accounted for X% of the global plant growth regulators market in the same year. Agricultural land in India has been decreasing at a rate of 30,000 hectares per year. Continuous decline in agricultural land has become a cause of concern due to increasing population. The decline is mainly due to use of cultivable land for non-agricultural purposes. The decreasing area under cultivation land is anticipated to increase the demand for the product over the forecast period.
Precision Business Insights (PBI) in its report titled “Plant Growth Regulators Market”: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 20XX-20XX and Forecast 20XX-20XX” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast.
Scope of The Report: Plant Growth Regulators Market
On the basis of type, the plant growth regulators market has been segmented into:
On the basis of crop type, the plant growth regulators market has been segmented into:
• Fruits & vegetables
• Cereals & grains
• Oilseeds & pulses
• Turf & ornamentals
On the basis of function, the plant growth regulators market has been segmented into:
• Plant growth promoters
• Plant growth inhibitors
On the basis of formulation, the plant growth regulators market has been segmented into:
• Water-dispersible & water-soluble granules
• Wettable powders
On the basis of region, the plant growth regulators market has been segmented into:
• North America
• Asia Pacific
• RoW (South America and the Middle East & Africa.)
For more information: https://precisionbusinessinsights.com/market-reports/global-plant-growth-regulators-market/
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