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Asia Pacific Plant Growth Regulators Market to escalated demand in crop productivity

Author : Ronak Bora | Published Date : 2019-04-11 

As per a recent industry report put forward by Global Market Insights Inc., Plant Growth Regulators Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 9.7 billion by 2025 with a projected CAGR of 8.5% over 2018-2025.

Global plant growth regulators market is anticipated to be majorly driven by the rapidly increasing product demand in Asia Pacific. This can be attributed to the growing awareness about PGR and increasing expenditure on product marketing by manufacturers in the region. Diet pattern of population in this region is gradually changing and the focus has been considerably shifted over food quality and quantity. This has escalated demand for enhanced crop productivity, in the region and thus propelling plant growth regulators demand in past few years. Moreover, farmers in Asia Pacific have begun using plant growth regulators for achieving quick and early yield to maximize market profits while protecting crop from cold and diseases at the same time.

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Strong foothold of fertilizers in the agriculture is likely to hamper the product demand over the forecast period. In addition, stringent regulations regarding the usage of pesticides is anticipated to restrict plant growth regulators demand to some extent.

Cytokinins will create a major chunk of demand in plant growth regulators market over the forecast timespan. Growing acceptance for genetically modified seeds and crops in nations including Brazil, India, Sri Lanka, Indonesia will be fueling the global cytokinins demand. Cytokinins are generally used in seed germination and plant cell division. Gibberlins is another major product segment which will experience a healthy CAGR in near future. This can be attributed to its applications in wide range of crops for stem elongation, dormancy breaking and other crucial plant growth processes.

Cereals & grains application segment will create a significant product demand over the next few years. Cereals and grains are major part of the human diet from thousand years. According to the world bank reports cereals production in 2000 was 2.053 billion metric tons and reached 2.849 billion metric tons in 2015. This exponential production and growth in cereals production is likely to boost the product demand in near future. Oil seeds and pulses shall create a major chunk of PGR market over the forecast period, due to rising demand for oil seeds and pulses in nations including India, China, Taiwan, Thailand and Indonesia.

Asia Pacific plant growth regulators market shall expand with highest CAGR over the forecast period. This can be attributed to the countries in Asia Pacific spending more than before on agriculture sector, which is due to growing food demand across the region. For instance, the Agricultural Development Bank of China sanctioned a loan of nearly USD 450 billion for the betterment and improvement of Chinese Agriculture industry by 2020. As a result, the farmers in the nation are willing to adopt crop production chemicals such as plant growth regulators to enhance the overall output of major farm products such as grains, cotton, tobacco, fruits, etc. in China. The burgeoning population of Asia Pacific is coercing with the demand for improved food crops at reduced price, which is likely to boost the plant growth regulators and bio-based stimulators demand in the region during the forecast timeframe.

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Many giant players are working in the PGR market. Some prominent players include Syngenta AG, BASF SE, DowDuPont, Nippon Soda Co., Bayer AG, Nufarm Limited, Ltd., Tata Chemicals Ltd, Valent Biosciences LLC, Adama Agricultural Solutions Ltd and Arysta Lifescince. Vendors operating in the plant growth regulators market are engaged in mergers & acquisitions for grabbing larger chunk of customer base. For instance, in June 2018, Bayer completed the acquisition of Monsanto shares in the U.S. This acquisition will increase Bayer's product and customer base in agriculture market in the country.

Plant growth regulators market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:

Plant Growth Regulators Market, product by application

  • Cytokinins
    • Fruits & vegetables
    • Cereals & grains
    • Oil seeds & pulses
    • Turf & ornaments
  • Auxins
    • Fruits & vegetables
    • Cereals & grains
    • Oil seeds & pulses
    • Turf & ornaments
  • Gibberlins
    • Fruits & vegetables
    • Cereals & grains
    • Oil seeds & pulses
    • Turf & ornaments
  • Ethylene
    • Fruits & vegetables
    • Cereals & grains
    • Oil seeds & pulses
    • Turf & ornaments
  • Other
    • Fruits & vegetables
    • Cereals & grains
    • Oil seeds & pulses
    • Turf & ornaments

Plant Growth Regulators Market by application

  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • APAC
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE

 

Browse key industry insights spread across 205 pages with 204 market data tables & 18 figures & charts from the report, “Plant Growth Regulators Market” in detail along with the table of contents:

www.gminsights.com/industry-analysis/plant-growth-regulators-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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