Plant Growth Regulators Market Outlook
According to the report by Expert Market Research (EMR), the global plant growth regulators market size reached a value of USD 3.58 billion in 2023. Aided by the increasing demand for agricultural productivity, expanding applications in horticulture and floriculture, and advancements in biotechnology, the market is projected to further grow at a CAGR of 10.4% between 2024 and 2032 to reach a value of USD 8.71 billion by 2032.
Plant growth regulators (PGRs), also known as plant hormones or phytohormones, are naturally occurring or synthetic chemicals that regulate various physiological processes in plants, such as growth, development, and stress responses. These compounds play a crucial role in modulating plant growth patterns, influencing cell division, elongation, differentiation, and flowering.
With a growing global population and shrinking arable land, there is a pressing need to enhance agricultural productivity and efficiency. Plant growth regulators offer a promising solution by optimising plant growth, increasing crop yields, and improving crop quality, which fuels the plant growth regulators market growth. Farmers are increasingly adopting PGRs to achieve higher yields, better crop uniformity, and improved stress tolerance in adverse environmental conditions.
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The horticulture and floriculture sectors are significant end-users of plant growth regulators, utilizing these compounds to manipulate plant growth, enhance flowering, and improve fruit set and quality. PGRs are extensively used in nurseries, greenhouses, and ornamental gardens to control plant height, promote branching, induce flowering, and extend the shelf life of cut flowers, ornamental plants, and fruits, propelling the plant growth regulators market expansion.
Advances in biotechnology and genetic engineering have enabled the development of novel plant growth regulators with enhanced efficacy, specificity, and environmental safety. Biotechnological approaches, such as genetic modification and genome editing, are being employed to engineer plants with improved resistance to pests, diseases, and environmental stresses, thereby reducing the reliance on chemical PGRs and pesticides.
As per the plant growth regulators market analysis, the growing consumer preference for organic and sustainably produced food has fuelled the demand for natural and eco-friendly plant growth regulators. Organic farmers and growers are turning to bio-based PGRs derived from natural sources such as seaweed extracts, microbial metabolites, and plant hormones to promote plant growth, enhance soil health, and minimise environmental impact.
As per the plant growth regulators market outlook, climate change-induced fluctuations in temperature, precipitation, and humidity pose significant challenges to crop production and food security. Plant growth regulators offer potential solutions for mitigating abiotic stresses such as drought, salinity, heat, and cold stress by regulating plant water relations, osmotic balance, and stress-responsive gene expression, thereby improving crop resilience and yield stability.
There is growing interest in biostimulants and microbial-based plant growth regulators as sustainable alternatives to traditional chemical PGRs, which also boost the plant growth regulators market share. Biostimulants derived from natural sources such as seaweed extracts, humic substances, and beneficial microorganisms promote plant growth, root development, and stress tolerance through mechanisms such as enhanced nutrient uptake, hormone modulation, and soil microbiome interactions.
The rise of vertical farming and CEA systems is driving demand for specialised plant growth regulators tailored for indoor and urban agriculture. PGRs are used to optimise plant growth, canopy architecture, and resource utilization in controlled environments such as hydroponic, aeroponic, and aquaponic systems, enabling year-round production of high-value crops in urban settings with limited space and resources.
The global plant growth regulators market is poised for significant growth and innovation, driven by technological advancements, changing agricultural practices, and evolving consumer preferences. Key trends such as biotechnological innovations, sustainable agriculture practices, and climate-smart solutions will shape the future landscape of the PGR market, offering opportunities for growth, diversification, and market expansion.
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Plant Growth Regulators Market Segmentation
The market can be divided based on type, crop type, application, and region.
Market Breakup by Type
- Auxins
- Ethylene
- Gibberellins
- Cytokinins
- Abscisic Acid
Market Breakup by Crop Type
- Fruits and Vegetables
- Cereals
- Oilseeds and Pulses
- Turf and Ornamentals
- Others
Market Breakup by Application
- Plant Growth Promoters
- Plant Growth Inhibitors
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plant growth regulators market. Some of the major players explored in the report by Expert Market Research are as follows:
- Sumitomo Chemical Co., Ltd
- BASF SE
- Syngenta Crop Protection, LLC
- Nufarm Ltd
- Bayer Crop Science AG
- Corteva, Inc.
- Tata Chemicals Limited
- United Phosphorus Ltd
- FMC Corporation
- WinField Solutions LLC
- Valent BioSciences Corporation
- Others
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