Plant Growth Regulators Market Projected to Reach $4.89 Billion by 2030
Author : rekha p | Published On : 22 Feb 2024
Meticulous Research® Sets New Growth Trajectory with "Plant Growth Regulators Market" Report
Meticulous Research®, a global leader in market research, proudly announces the release of its latest report titled, "Plant Growth Regulators Market by Type (Cytokinins, Auxins, Gibberellins, Ethylene, Abscisic Acid), Formulation (Wettable Powders, Solutions), Function (Promoters, Inhibitors), Crop Type (Cereals & Grains, Fruits & Vegetables) - Global Forecast to 2030."
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In this comprehensive publication, Meticulous Research® forecasts that the Plant Growth Regulators Market is set to reach a valuation of $4.89 billion by 2030, exhibiting a robust Compound Annual Growth Rate (CAGR) of 8.9% from 2023. The report delves into various market dynamics and factors propelling this growth, including the increasing demand for sustainable agricultural practices, the surge in adoption of organic farming methods, a growing preference for organic food products, heightened investments in the agriculture sector, and an escalating need for high-value crops. Notably, emerging countries with diverse agricultural landscapes and extensive arable land present substantial growth opportunities for industry players.
Challenges and Opportunities
Despite the positive trajectory, the report highlights hurdles in the form of regulatory and financial barriers for new entrants, coupled with limited awareness among farmers regarding plant growth regulators. Additionally, prolonged product registration and approval procedures pose significant challenges to market growth.
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On the flip side, the Plant Growth Regulators Market is poised for substantial growth driven by growing investments in healthcare infrastructure and an increasing preference among healthcare professionals for POC tests.
Key Players Cultivating Success
The report spotlights key players shaping the Plant Growth Regulators Market, including BASF SE (Germany), Corteva, Inc. (U.S.), Syngenta AG (A Part of China National Chemical Corporation/Chemchina) (Switzerland), FMC Corporation (U.S.), Nufarm Limited (Australia), Bayer AG (Germany), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Tata Chemicals Ltd. (India), Nippon Soda Co., Ltd. (Japan), Barclay Chemicals Manufacturing Limited (Ireland), Fine Americas Inc. (U.S.), Hangzhou Tianlong Biotechnology Co., Ltd. (China), Sichuan Guoguang Agrochemical Co., Ltd. (China), and Sikko Industries Limited (India).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plant-growth-regulators-market-5687
Insights into Market Dynamics
The report provides a detailed historical analysis of market data, estimated current data for 2023, and forecasts for 2030. The market is segmented based on type, formulation, function, crop type, and geography.
Among the various segments, the cytokinins segment is poised to dominate the Plant Growth Regulators Market in 2023, attributed to their pivotal role in enhancing plant development and growth. The report also delves into formulation preferences, with water-dispersible & water-soluble granules anticipated to hold the largest share in 2023 due to their numerous advantages, including ease of handling, rapid dissolution, and minimal dust generation.
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Function-wise, plant growth promoters are projected to account for a larger market share in 2023, driven by the increasing adoption of these promoters, particularly in organic farming. Additionally, the report analyzes crop types, with cereals & grains expected to lead the market in 2023, while the fruits & vegetables segment is projected to witness the highest growth rate during the forecast period.
Geographical Landscape
In 2023, Asia-Pacific is anticipated to dominate the Plant Growth Regulators Market, driven by factors such as rapid population growth, increasing disposable incomes, and the growing demand for high-quality agricultural products. Moreover, Asia-Pacific is forecasted to register the highest growth rate during the forecast period, underpinned by extensive areas dedicated to organic cultivation and supportive government policies.
For a comprehensive analysis and detailed insights, refer to the complete "Plant Growth Regulators Market by Meticulous Research® – Global Forecast to 2030" report.
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