(EMAILWIRE.COM, August 21, 2019 ) The Plant Growth Regulators Market was valued at USD 1.98 billion in 2016 and is projected to grow at a CAGR of 6.8% from 2017, to reach USD 2.93 billion by 2022. The global demand for plant growth regulators is increasing significantly due to the growing demand for organic food. The market is further driven by factors such as rise in the need for food security for the growing population, advancement in farming practices and technologies, and high opportunities in developing countries.

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The gibberellins segment is projected to grow at the highest CAGR during forecast period:
Based on type, the plant growth regulators market has been segmented into cytokinins, auxins, gibberellins, and ethylene, wherein the gibberellins segment is projected to grow at the highest CAGR during the forecast period. There is a total of 80 different gibberellin compounds which exist in plants; however, only gibberellic acid (GA3) and GA4+7 compounds are the most popularly used varieties. Gibberellins are available in around 126 forms, not only in plants but also in fungi and bacteria. The wider availability and efficiency to induce growth in smaller quantities makes it as the fastest-growing segment.

The water-dispersible & water-soluble granules, by formulation, accounted for a larger share of the plant growth regulators market in 2017:
The water-dispersible & water-soluble granules segment accounted for a larger share of the global plant growth regulators market in 2017. They are most popular forms of plant growth regulators in the agricultural industry. They provide advantages such as easy to handle, non-toxic, and are more stable during storage and transportation. Moreover, water-dispersible & water-soluble granules are gaining growth in the market due to ease of transportation as they can be transported and shipped in solid packets.

The plant growth promoters segment, by function, accounted for a larger share of the plant growth regulators market in 2017:
Plant growth regulators or phytohormones are segmented as plant growth promotors and plant growth inhibitors as per their functionality. The plant growth promoters segment accounted for a larger share of the global plant growth regulators market in 2017. Some of the most popular plant growth promoters include auxins, gibberellins, and cytokinins. They help in growth and development during flowering, fruiting, root initiation, and overall increase in yield. Plant growth promoters are used in various fruit & vegetables to enhance the flowering process. With the growing demand for high value crops such as fruits, the demand for plant growth promotors is also increasing.

The Asia Pacific region dominated the plant growth regulators market in 2017:
India and China being the most populated countries led to higher demand for food in the region resulting in adoption of practices such as use of plant growth regulators. In 2017, the Asia Pacific region accounted the higher share in the global market for plant growth regulators. According to MarketsandMarkets, factors such as rapid technical advancements, government encouragement for organic farming, and increase in crop production drives the plant growth regulators market in the Asia Pacific region. Plant growth regulators are receiving acceptance as they are expected to increase long-term agricultural productivity and help realize the goal of food self-sufficiency.

Companies such Syngenta (Switzerland), BASF (Germany), The Dow Chemical Company (US), Bayer CropScience (Germany), Nufarm (Australia), and ADAMA (Israel) together account for more than half of the total share of the plant growth regulators market. These companies have a strong presence in Europe and the Asia Pacific region. They also have manufacturing facilities across these regions and a strong distribution network. They are also focused on innovation and are geographically diversified. These market players are focusing on new product launches with existing and new materials to increase their efficiency. FMC Corporation (US) and Valent BioSciences Corporation (US) are some of the leading market players that adopted this strategy to develop their business.

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