Plant Growth Regulators Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Plant Growth Regulators Market is Segmented by Type (Cytokinins, Auxins, and Gibberellins), Application (Crop-based and Non-crop-based), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecast in terms of value (USD million) for all the above segments.

Market Snapshot

Plant Growth Regulators Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 8.5 %
Plant Growth Regulators Market Major Players

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Market Overview

The plant growth regulators market was valued at USD million in 2020. It is projected to register a CAGR of 8.5% during the forecast period (2022-2027). The impact of COVID-19 on the plant growth regulators market can be largely characterized by an unprecedented disruption in the functioning of both the market forces of demand and supply. A short-term shortage of migrant laborers amid distribution bottlenecks created a wide gap between the number of workers required for production and the ones available. Production of organic crops also faced some hindrances due to the unavailability of growers in large-scale plantations.

Plant growth regulators (PGRs) are chemicals that act like phytohormones and affect the plant's physiological processes. There has been an increasing demand for fruits, and the application of plant growth regulators (PGRs) on fruits is continuously increasing to enhance the crop yield. In Africa, plant growth regulators are highly used for vegetables, such as potatoes, tomatoes, and onions. Fruits are enhanced by the application of PGR, especially apples, pears, and peaches.

By type, the cytokinins segment is expected to witness the fastest growth rate during the forecast period due to the high production of fruits and commercial vegetables. Europe dominates the market. Increasing organic farming and the need for sustainable agriculture are driving the market. The market studied is anticipated to have a better growth rate in the future, as farmers are inclining toward the latest technology in the agricultural sector.

Scope of the Report

Plant growth regulators are chemical compounds other than nutrients that modify a plant’s physiological processes. The report presents an in-depth analysis of plant growth regulators, including market size, drivers, restraints, and competitive environment across the various regions in the world.

The plant growth regulators market is segmented by type (cytokinins, auxins, and gibberellins), application (crop-based and non-crop-based), and geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers market size and forecast in terms of value (USD million) for all the above segments.

Type
Cytokinins
Auxins
Gibberlins
Other Types
Application
Crop-based
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Turf and Ornamentals
Other Crops
Non-crop-based
Turf and Ornamental Grass
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
France
Germany
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Thailand
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa

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Key Market Trends

Increasing Demand for Sustainable Agricultural Practices

The application of plant growth regulators may help increase the blossom rate, stimulate plant growth, and delay the onset of sprouting of root crops. Such positive results alter the plant nutrition and aid the commercial agribusinesses in increasing the quality and quantity of the crop yield.

Plant growth regulators (PGR) are recognized for promoting growth and development under optimal and stress conditions. Reducing the crop loss under the impact of these climatic variations is a great challenge and requires substantial reforming of crop improvement programs and agronomical practices. In such conditions, plant growth regulators (PGRs) are useful tools to combat these stresses and climate variation for sustainable crop production.

Among all the growth regulators, cytokinins are widely consumed and account for around 35% of the market share. Cytokinins are expected to continue as the fastest-growing segment as they enhance stress tolerance and stimulate protein synthesis. Auxin is the second-largest segment, and it is expected to grow due to the increasing demand for medicinal plants and growth in turf and landscaping. Cereals and oilseeds are the major consumers of plant growth regulators, followed by fruits and vegetables, accounting for around 75% of the market share.

Plant Growth Regulators Market:  Area Under Cultivation in Million Hectares, Global, 2017-2020

Europe Dominates the Market

Europe is the largest market accounting for around 45% of the market share, followed by North America. The huge demand is due to the increasing growth of organic farming and increasing indoor farming units like greenhouses and glasshouses. Vegetables and fruits are increasingly becoming the main users of plant growth regulators, thus driving the market.

European countries promote sustainable agriculture, food security, and rural development. In the European Union, the European Commission has pledged itself to the Form to Fork Strategy, which is centered on organic farming. In this approach, 25% of the EU’s agricultural land will be used for organic farming by 2030. Therefore, enhancing the crop yield while achieving sustainability has become more crucial. Hence, the demand for plant growth regulators in Europe is considerably high due to the large-scale organic farming industry, where specific plant hormones such as cytokinin, auxins, and gibberellins are utilized in several farming methods.

To cater to this growing demand, companies are introducing new products into the market. For instance, in 2020, BASF launched Attraxor in the United Kingdom. Attraxor is a new plant growth regulator (PGR) that features the powerful active prohexadione-calcium.

Plant Growth Regulators Market: Market Size in %, Region, 2021

Competitive Landscape

The market is highly consolidated, with few players occupying the larger share globally. The market players are keen on launching new crop-targeted products, especially in the fruit and vegetable sectors. Investment in R&D of cheap, effective products is another strategy adopted by market leaders. Acquisitions and mergers are some of the main strategies adopted by the MNCs for effective penetration into the market. The major players in the market are BASF SE, Bayer Crop Science, Syngenta, UPL Ltd, Corteva Agriscience, and Nufarm Ltd.

Major Players

  1. BASF SE

  2. Bayer Crop Science

  3. Corteva Agriscience

  4. NuFarm Ltd

  5. UPL Limited

  6. Syngenta

Plant Growth Regulators Market Concentration

Recent Developments

In 2021, Sumitomo Chemical received the US regulatory approval for the registration of its new plant growth regulator (PGR) AccedeTM (active ingredient 1-aminocyclopropane-1-carboxylic acid (ACC)). Accede is a fruit thinner categorized as a PGR developed by Sumitomo Chemical as one of the bio rationals in its A2020 pipeline.

In April 2020, BASF introduced a plant growth regulator named Attraxor for turf and other types of grasses in the United Kingdom. It contains Prohexadion(10%w/w) as the main ingredient.

In 2020, Syngenta Canada registered Moddus, a new plant growth regulator that helps mitigate lodging risk in wheat, barley, and oats. Moddus contains trinexapac-ethyl, an active ingredient with years of proven use to manage lodging in cereal crops worldwide.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defintion

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Cytokinins

      2. 5.1.2 Auxins

      3. 5.1.3 Gibberlins

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Crop-based

        1. 5.2.1.1 Grains and Cereals

        2. 5.2.1.2 Pulses and Oilseeds

        3. 5.2.1.3 Fruits and Vegetables

        4. 5.2.1.4 Turf and Ornamentals

        5. 5.2.1.5 Other Crops

      2. 5.2.2 Non-crop-based

        1. 5.2.2.1 Turf and Ornamental Grass

        2. 5.2.2.2 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Spain

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Germany

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Thailand

        5. 5.3.3.5 Australia

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 BASF SE

      2. 6.3.2 Bayer Crop Science

      3. 6.3.3 Corteva Agriscience

      4. 6.3.4 Crop Care Australia Pty Ltd

      5. 6.3.5 Barclay Crop Protection

      6. 6.3.6 Sumitomo Chemical Australia Pty Ltd

      7. 6.3.7 NuFarm Ltd

      8. 6.3.8 Redox Industries Ltd

      9. 6.3.9 Xinyi (H.K.) Industrial Co. Ltd

      10. 6.3.10 Sichuan Guoguang Agrochemical Co. Ltd

      11. 6.3.11 Fine Americas Inc.

      12. 6.3.12 Chemtura AgroSolutions

      13. 6.3.13 Valent BioSciences Corporation

      14. 6.3.14 Hangzhou Tianlong Biotechnology Co. Ltd

      15. 6.3.15 Tri-DWARF Industrial Co. Ltd

      16. 6.3.16 WinField Solutions LLC

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. ASSESSMENT OF THE IMPACT OF COVID-19 ON THE MARKET

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Frequently Asked Questions

The Plant Growth Regulators Market market is studied from 2017 - 2027.

The Plant Growth Regulators Market is growing at a CAGR of 8.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

BASF SE, Bayer Crop Science, Corteva Agriscience, NuFarm Ltd, UPL Limited, Syngenta are the major companies operating in Plant Growth Regulators Market.

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