The global plant growth regulators market is projected to grow from USD 3.3 billion in 2024 to USD 4.6 billion by 2029, registering a CAGR of 7.2% during the forecast period. The increasing demand for high-value crops is driving the consumption of natural plant growth regulators in agriculture. Additionally, the shift towards sustainable farming practices and the rising adoption of organic farming are further fueling market expansion. Changing dietary preferences and a growing emphasis on sustainable agriculture are also contributing to the increased use of plant growth regulators. These trends underscore the rising significance and widespread adoption of plant growth regulators in modern agriculture.
Plant Growth Regulators Market Trends
The Plant Growth Regulators (PGR) Market is experiencing notable growth due to increasing demand for sustainable agriculture, advancements in biotechnology, and climate change concerns. Here are some of the latest trends shaping the market:
1. Rising Demand for Bio-Based PGRs
2. Precision Agriculture and Smart PGR Application
3. Increasing Use of Cytokinins in Horticulture
4. Growth in the Organic Farming Sector
5. Regulatory Changes Impacting Synthetic PGRs
6. Expansion in Asia-Pacific & Latin America
7. Integration with Biostimulants and Fertilizers
8. Innovations in Plant-Based Hormones
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Cytokinins Hold the Largest Market Share by Type
Among various plant growth regulators, cytokinins dominate the market, holding the largest share in the type of segment. Cytokinins play a crucial role in cell division, shoot growth, and overall plant development. They stimulate cell enlargement and differentiation, leading to improved crop yield and quality. These hormones are extensively used in fruit and vegetable production to enhance plant vigor, increase flower and fruit sets, and delay senescence. The growing demand for high-yield crops, coupled with advancements in biotechnology and research, has led to the development of innovative cytokinin formulations, further strengthening their market dominance.
Plant Growth Inhibitors to Register the Highest CAGR
In the function segment, the plant growth inhibitors category is expected to grow at the highest CAGR during the forecast period. Farmers and growers are increasingly recognizing the benefits of plant growth inhibitors in regulating plant growth and development. Compounds such as abscisic acid play a vital role in inducing dormancy and abscission, helping manage excessive growth while enhancing stress tolerance in plants. The growing prevalence of abiotic stressors such as drought, salinity, and extreme temperatures has accelerated the adoption of plant growth inhibitors to mitigate their negative impact on crop yield. Additionally, continuous R&D advancements have resulted in the development of more efficient and cost-effective inhibitors, further driving market expansion.
Asia-Pacific dominates the Plant Growth Regulators Market Share.
The Asia-Pacific region holds the largest market share in the plant growth regulators market, driven by several key factors. The region has a highly significant agricultural industry, accounting for a substantial share of global agricultural output. With rising food demand due to population growth and changing dietary preferences, countries in Asia-Pacific are increasingly adopting plant growth regulators to enhance productivity. Furthermore, rapid technological advancements and the adoption of modern agricultural practices—including precision farming—are further boosting market growth. Supportive government initiatives, agricultural investments, and favorable policies are also playing a crucial role in the expansion of the plant growth regulator market in this region.
Leading Plant Growth Regulators Companies:
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BASF SE (Germany)
BASF SE Group operates globally with 234 production sites, including six Verbund sites, and relies on approximately 112,000 employees worldwide. Its operations encompass diverse segments such as chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Offering a wide array of system solutions and services, BASF SE caters to industries ranging from chemicals, automotive, and building to agriculture, oil, plastics, electrical, electronics, furniture, and paper. Within its Agricultural Solutions division, BASF SE specializes in providing plant growth regulators. These products target the hormonal system of plants, adjusting the proportions of various plant hormones to facilitate advantageous growth. With a focus on enhancing crop health and yield, BASF SE’s plant growth regulators business segment is involved in researching, developing, manufacturing, and marketing these products.
Corteva Agriscience (US)
Originally part of DowDuPont, Corteva Agriscience emerged as an independent entity following its spinoff, drawing from the esteemed legacies of Dow, DuPont, and Pioneer. Established in 2019, Corteva operates globally, spanning over 140 countries across North America, Latin America, Europe, Australia, Africa, and Asia Pacific. With a core commitment to agriculture and food provision, Corteva specializes in two primary product segments: seeds and crop protection. Its Seed division focuses on developing and delivering advanced germplasm and traits to enhance farm yields, while the Crop Protection segment addresses agricultural challenges by offering weed, insect, pest, and disease control solutions. Among its crop protection offerings are plant growth regulators, herbicides, and insecticides. Additionally, Corteva provides digital service solutions to support farmers in optimizing their agricultural practices.
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