The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Dynamics

• Historic Growth:
  • The plant growth regulators (PGR) market has shown robust growth.
  • From $2.96 billion in 2023 to $3.26 billion in 2024 at a CAGR of 9.9%.
  • Drivers: increasing demand for food production, farmer adoption, government initiatives, crop quality focus, agriculture industry expansion.
• Future Projections:
  • Expected to reach $4.63 billion by 2028 at a CAGR of 9.2%.
  • Drivers: population growth, climate challenges, sustainable agriculture focus, expanding markets in developing countries, collaborations and partnerships.
  • Major trends: biotechnology advancements, technological innovations in agriculture and PGR production, organic product demand, diverse crop applications.

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https://www.thebusinessresearchcompany.com/report/plant-growth-regulators-global-market-report

Organic Farming Boosts Market Growth

• Impact of Organic Farming:
  • Growing demand for organic farming propels PGR market growth.
  • PGRs used to enhance crop quality, yield, and root growth without synthetic chemicals.
  • Example: Increase in UK’s organic farmland in 2022 contributing to market growth.
• Major Players:
  • BASF SE
  • Bayer Crop Science
  • Corteva Agriscience
  • Sumitomo Chemical Co. Ltd.
  • Syngenta AG
  • Valent BioSciences Corporation
  • NuFarm Ltd.
  • ADAMA India Private Limited
  • Nippon Soda Co. Ltd.
  • Arysta LifeScience Corporation

Innovations Driving Market Expansion

• Product Innovation:
  • Key trend among major market players.
  • Example: Rightline Equipment Inc.’s Prohex 27.5 WDG enhancing turf quality with gibberellin inhibitor technology.
  • Designed for improved turf aesthetics and performance across different seasons.
• Strategic Acquisitions:
  • Example: Adama Agricultural Solutions’ acquisition of Agrinova New Zealand Limited in 2022.
  • Strengthens market position and expands into biological market segments.

Market Segmentation Insights

• By Type:
  • Cytokinins, Auxins, Gibberellins, Ethylene, Other Types
• By Formulation:
  • Water-Dispersible And Water-Soluble Granules, Wettable Powders, Solutions
• By Application Type:
  • Fruits And Vegetables, Cereals And Grains, Oil Seeds And Pulses, Turf And Ornaments

Regional Leadership

• Leading Region:
  • Europe was the largest region in the plant growth regulators market in 2023.
  • Strong presence due to agricultural advancements and regulatory support.

Conclusion
The plant growth regulators market is experiencing significant growth driven by the increasing adoption of organic farming practices, technological innovations, and strategic expansions by key players. As the world focuses more on sustainable agriculture and higher crop yields, PGRs play a crucial role in enhancing productivity and maintaining crop quality. With ongoing advancements and diverse applications across different crop types, the future of the plant growth regulators market looks promising and pivotal for agricultural sustainability worldwide.

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The Plant Growth Regulators Global Market Report 2024  provides an overview of the plant growth regulators market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The plant growth regulators market forecast analyzes plant growth regulators market size, plant growth regulators market share, leading competitor and their market positions.

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