Market Overview:

The Global Plant Growth Regulators Market size was valued at USD 5.9 Billion in 2023 and is projected to grow from USD 6.61 Billion in 2024 to USD 16.48 Billion by 2032 at a CAGR of 12.1% during the 2024-2032 forecast period.

A crucial element in modern agriculture and horticulture is the strong growth of the PGRs market. The increasing need for better yields and quality crops has escalated the growth of the PGRs market enormously. PGRs, commonly known as plant hormones, have substances that affect their mode of action on developing plants through changes in physiological processes. These five compounds- axons, gibberellins, cytokines, ethylene, and abscise acid-take part in controlling various functions of plants that include cell division and elongation, induction of flowering and fruiting, and response to applied stress.

Growth in the PGRs market is driven by the rising need for sustainable agricultural practices and seeking improved productivity. With global demand for food increasing due to a rise in population and changed dietary habits, the farmers and growers are increasingly adopting newer technologies and solutions which can help them maximize output from crops and optimize the use of resources. PGRs therefore offer a clear solution of improved crop growth patterns, increased tolerance to environmental stresses, and allowing uniformity of growth that is likely to result in better yield quality and quantity.

PGRs are also used in the horticultural sector for improved ornamental plant production, increased flowering, and extended shelf life in cut flowers. Between large-scale farming and niche horticultural practices, PGRs are very diverse and hence influential to any level of growth, hence being customized to specify crops to an effect that they have become indispensable in these industries.

The same is occurring with plant growth regulators, which are being advanced through biotechnological and chemical enhancements. Innovations in new formulations of PGRs with higher action and lesser environmental impact are being currently under development by researchers and manufacturers. This encompasses the development of targeted delivery mechanisms, which would enable better applications with reduced wastage, bio-pesticides, and eco-friendly PGRs in concurrence with organic farming methods.

Furthermore, safety and environmental considerations are being developed as integral parts of regulatory frameworks and guidelines that proscribe the use of PGRs. The changing regulatory landscape will have bound effects on market dynamics as manufacturers reformulate ways to stay on the right side of regulations while at the same time working empty-handedly towards putting a viable and safe product on the market.

Market Dynamics - Market Drivers

Rise in Resistance Development in Certain Pest and Insect Species

• This has been reported as one of the most serious concerns of agriculture: the rising development of resistance in some pest and insect populations. The repeated exposure of pests/insects to the same pesticide or control measure can cause genetic mutations, due to which they begin to develop resistance over time through the processes of natural selection. This means that the now-resistant individuals begin to tolerate and reproduce in the presence of a chemical or control measure that was previously quite effective. In so doing, it reduces the effectiveness of these measures of pest control, thereby needing a larger dose or more frequent applications, which are time-consuming and environmentally hazardous.
• Resistance to pesticides can often be extremely rapid if these products are misused or overused. There is a constant selective pressure on the pest populations. A further consequence of such heavy reliance upon chemical controls is the potential loss of effectiveness of Integrated Pest Management programs combining several control methods. In addition, the highly diffuse nature of pesticide-resistant pest strains with extensive utilization of similar chemical classes in geographic agricultural areas close together.

Rising Need for Enhanced Crop Productivity Backed by Government Support

• The demand for more crop yield is impelled by dual pressure: growing global population on one side and the increased food requirement on the other. Such improvements in agriculture practices and technologies are, therefore, called for in an urgent manner. Countries across the world have woken up to this challenge and are offering strong support to agriculture productivity so as to be able to meet the challenge of food security. These could be in the form of subsidies for adopting innovative technologies, financing for R&D, and policies aimed at raising the productivity and sustainability of crops.
• Government efforts are usually aimed at encouraging resource-efficient technologies in farming, including precision farming, genetic engineering, and more efficient irrigation methods. Such technologies enhance productivity by optimizing resources, cutting down on wastages, and increasing crop resilience to pests and environmental stresses. Besides, most governments have done much in structural improvements, such as better storage facilities and transport networks, which reduce post-harvest losses and efficiently get crops to markets.

Market Opportunities

Increased Production and Yield of Crops

• Enhanced production and yield of crops are cardinal goals in modern agriculture. This is fostered by the growing need to meet the increasing global food demand, coupled with the necessity to produce sufficient food for humanity. Crop yields can be more easily increased by increasing the efficiency of the practices through various ways. Successes in seed technology mean that genetically engineered crops can now tolerate more attacks from pests and diseases and environmental stresses, hence high productivity. Improved farming practices the best example being precision agriculture together with well-designed irrigation systems, give farmers a better way of utilizing resources such as water and fertilizers, hence an increase in yield.
• Technological innovations in satellite imaging and data analytics put crop health in farmers' own hands: Interventions are hence administered in a much more focused way to where they are needed most, for maximum growth and minimum losses. These, coupled with the progress made in Soil Management Practices and Integrated Pest Management, make for more uniform and better yields.

Market Restraining Factors

Long Approval Period for New Products

• Probably the most significant challenge influencing the rate at which innovative solutions can be brought to the marketplace is the length of time involved in obtaining approval for new agricultural products, notably seeds, pesticides, and plant growth promoters. Among the leading causes of this extended period taken to achieve approval is the stringent regulatory processes that ensure new products are safe and effective, and will not harm the environment. These may include laboratory studies, field trials, and assessment of risks, which require that the detailed data and tests by parties seeking registration be forwarded to regulatory agencies for possible risks to human health, non-target species, and ecosystems.
• While measures of this stringency are necessary for public health and the environment, they nonetheless delay the application of technologies/solutions to solve real problems in agriculture. This lengthy time period puts off the time of market entry for a product that could be more productive for crops, better control pests, or work more sustainably.

Key Industry Developments

• In August 2023, AMVAC, a global agriculture technology solution providing company, expanded its product offerings by introducing a plant growth regulator – Mandolin, specially formulated for citrus fruits.
• In March 2023, Sumitomo Chemical India Ltd., a subsidiary company of Sumitomo Chemicals, launched a new plant growth regulator - Promalin® at Shimla, Himachal Pradesh. The product is available in 1 liter and 500 ml pack sizes across two states of North India - Himachal Pradesh and Jammu & Kashmir.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Plant Growth Regulators Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Market Players

• BASF SE
• Bayer AG
• Corteva, Inc.
• Syngenta AG
• Nufarm Ltd.
• Sumitomo Chemical Co. Ltd.
• UPL Limited
• FMC Corporation
• Tata Chemicals Ltd.
• Sichuan Guoguang Agrochemical Co., Ltd

Market Segmentation 

By Function

• Plant Growth Inhibitors
• Plant Growth Promoters

By Crop Type

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Turf & Ornamentals

By Formulation

• Water-dispersible & Water-Soluble Granules
• Wettable Powder
• Solutions

By Type

• Cytokinins
• Auxins
• Gibberellins
• Ethylene
• Other Types

Segmentation Analysis

The market scope is segmented because of by Function, by Crop Type, by Formulation, by Type.

By Function

Based on the Function of the market is segmented into Plant Growth Inhibitors, Plant Growth Promoters.

Among plant growth regulators, the plant growth promoter’s category has remained dominant. In this regard, they have played a very vital role in promoting plant development, crop yield, and overall agricultural productivity enhancement. Plant growth promoters are axons, gibberellins, and cytokines. They promote cell division, cell elongation, processes of flowering, fruit development, and other growth processes. Their use in agribusiness serves well to optimize plant growth, increase resistance to the environmental strains, and enhance the quality of crops, therefore they are readily wanted by farmers and growers exceptionally in demand.

Plant Growth Promoters find such a wide application nowadays for the simple reason that their effect directly enhances crop performance. An example is the involvement of axons in root development and the promotion of stem elongation; gibberellins are involved in seed germination and fruit development; while cytokines stimulate cell division and retard senescence of leaves. These benefits, in turn, reflect an increased yield of high-quality produce, which is of extreme relevance under the pressure of increasing global demand for foods.

By Crop Type

Based on the Crop Type of the market is segmented into Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf & Ornamentals.

Among the crop type segments, the cereals & grains segment has historically commanded the largest value share of the plant growth regulators market. This is particularly because of the vast scale on which cereals and grains are grown, constituting important staple crops—wheat, rice, maize, and barley in both developed and developing countries. These crops are pivotal for global food security and exert an immense impact on agricultural practices because of the magnitude of their production and economic contribution.

Some of the reasons behind the dominance of the Cereals & Grains segment include high demand for cereals and grains for feeding an ever-growing population around the world, which will keep on demanding increased yield and quality. Increased adoption by farmers and agricultural stakeholders, to enhance growth of the crop through improving resistance to diseases and pests and optimized resource utilization critical for maintaining and increasing large scale yields of cereals, is done so with the aid of the plant growth regulators.

Regional Snapshots

Among the regions in the plant growth regulators market, Asia-Pacific has always enjoyed a dominant position. This is largely due to the broad agricultural base in this region and its use as a major producer of staple crops, including rice, wheat, and maize. Asia-Pacific includes key agricultural countries like China and India, with huge areas of farmland and a massive focus on agricultural productivity to meet the large and growing populations. Increasing investments in innovation and technology related to agriculture, including plant growth regulators in this region, are based on their needs to enhance yields, reduce environmental stresses, and promote food security.

The dominance is further justified by the fact that the climate conditions in the region are also very conducive for the cultivation of a wide range of crops and are increasingly entering into the realm of advanced farming techniques. Governments and other stakeholders in this field in the region are also active in persuading farmers to adopt modern agricultural methods and technologies in the general framework, including the use of plant growth regulators for optimizing the performance as well as sustainability of crops.

Looking ahead, the plant growth regulator market is still expected to be the fastest in the Asia-Pacific region. Broadening of agricultural activities, driven by the increasing population and rising food demand, coupled with continued developments in agricultural technology, is likely to continue and also accelerate the growth rate. Other factors that shall contribute to the region's rapid growth include increasing investments in agricultural research and development, and supportive government policies for increasing crop productivity and sustainability.

Plant Growth Regulators Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Plant Growth Regulators Market valued?
• Which region has the largest share in 2024 for the global Plant Growth Regulators Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Plant Growth Regulators Market

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Plant Growth Regulators Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: