Global Plant Growth Regulator Market To Reach Around USD 6.4 Billion By 2020
Zion Research has published a new report titled “Plant Growth Regulators (Auxins, Cytokinins and Others) Market: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014 – 2020” According to the report, the global plant growth regulators market was valued at approximately USD 3.5 billion in 2014 and is expected to reach approximately USD 6.4 billion by 2020, growing at a CAGR of around 8.2% between 2015 and 2020.
Plant growth regulators, often called as plant exogenous hormone which regulates growth of plants and improve responses to stimuli. The plant regulators are natural or synthetic substances used as promoters and inhibitors. . Ethylene is one of the plant growth regulators used for improving flower production. Plant growth regulators are not harmful human health. Plant hormones used to enhance the natural plant growth processes and are important measures to ensure agricultural production.
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Key product segment of plant growth regulator market includes auxins, cytokinins and others (Mepiquate chloride and Gibberellins). Cytokinin was dominant product segment of plant growth regulator market. It accounted for over 40% of total market share in 2014. This segment is expected to witness fastest growth on account of increasing demand for cytokinin in herbal plants production. Auxin is another leading key product segment and it is mainly consumed in cotton production. Rising cotton production due to textile industry is anticipated to propel the demand of auxins in the years to come. Other plant growth regulators include mepiquat chloride and gibberellins. Gibberellin is expected to exhibit significant growth owing to strong demand of gibberellins for protein synthesis in plant body.
In 2014, Europe was the key regional market in global plant growth regulators market with over 30% market share. It was majorly due to rising organic farming in this region. Asia Pacific is another key region for plant growth regulators market and projected to witness significant growth over the forecast period. The growth in this region is mainly attributed to increasing cotton production in China and India. North America is expected to exhibit significant growth owing to strong demand for herbal medicines.
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Some of the key players in the global plant growth regulators market include Syngenta AG, BASF, Bayer CropScience, Tata Chemicals Limited, DuPont, NuFarm Limited, Redox Industries Ltd, Sichuan Guoguang Agrochemical Co. Ltd, Crop Care Limited and Valent BioSciences Corporation
This report segments the global plant growth regulators market as follows:
Global Plant Growth Regulators Market: Product Segment Analysis
- Others (Mepiquate Chloride and Gibberellins)
Global Plant Growth Regulators Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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