Market Size of North America Plant Growth Regulators Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.38 Billion |
| Market Size (2029) | USD 4.83 Billion |
| CAGR (2024 - 2029) | 7.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Plant Growth Regulators Market Analysis
The North America Plant Growth Regulators Market size is estimated at USD 3.38 billion in 2024, and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 7.40% during the forecast period (2024-2029).
- Plant growth regulators are substances that are produced naturally from higher plants and used to modify a crop by changing the rate of its response to the internal and external factors that govern development from germination through vegetative growth, reproductive development, maturity, and aging, as well as post-harvest preservation. Auxin, Cytokinin, Gibberellins, and abscisic acid are commonly used growth regulators in North America.
- Furthermore, since the demand for organic food in the region is increasing, the demand for growth regulators is also rising. The use of PGRs is quite common in greenhouse crop production. Greenhouse growers use plant growth regulators to control excessive plant growth and increase the productivity of the plant, and also PGRs are used in wide applications in the agriculture sector. These factors will fuel the market growth and tend to increase during the forecasting period.
- The organic food industry is witnessing healthy growth rates owing to sustainable farming practices. Thus these are the major driving factors for the increased demand for growth regulators. North America is the second-largest market and is expected to expand, with the increased supply of quality products from the key players. This will drive the market's growth during the forecast period.
