Global Plant Growth Regulators Market Report and Forecast 2024-2032

Global Plant Growth Regulators Market Outlook

The global plant growth regulators market size reached approximately USD 3.58 billion in 2023. The market is further projected to grow at a CAGR of 10.4% between 2024 and 2032, reaching a value of USD 8.71 billion by 2032.

Key Trends in the Market

Plant growth regulators refer to chemicals used for modifying plant growth including suppressing shoot growth, removing access fruit, increasing branching, altering fruit maturity, and increasing return bloom. These substances that activate at low concentrations can reduce plant stress and improve the crop yield.

• Rising focus on improving crop yield to meet the growing demand for food is aiding the plant growth regulators market growth. Plant growth regulators enhance the internal physiology of developing fruits, resulting in reduced fruit drop and improved fruit set.

• The crucial role of plant growth inhibitors in maintaining the size and shape of the plants and in controlling fruit production is boosting their utilisation in farming and agricultural practices. These regulators are mostly used on ornamental plants, tress, and flowers, that cannot be easily genetically altered.

• Changing weather patterns and rising requirement for disease management are further boosting the utilisation of plant growth regulators as they increase the tolerance of plants against various types of stresses and boost plant immunity and growth.

Market Analysis

Based on type, the plant growth regulators market segmentation includes auxins, ethylene, gibberellins, cytokinins, and abscisic acid. On the basis of crop type, the market is classified into fruits and vegetables, cereals, oilseeds and pulses, and turf and ornamentals, among others.

Based on applications, the market is bifurcated into plant growth promoters and plant growth inhibitors. On the basis of region, the market is categorised into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global plant growth regulators market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Type

Cytokinin is expected to account for a significant plant growth regulators market share in the coming years as it stimulates protein synthesis and enhances the stress tolerance of the plants. It also increases cell expansion and promotes cell division during the expansion and proliferation stages of leaf cell development. During leaf senescence, cytokinin boosts chlorophyll synthesis, reduces sugar accumulation, and prolongs the photosynthetic period of the leaves. Cytokinin also influences several aspects of plant development and physiology and chloroplast differentiation.

Market Share by Region

As per the plant growth regulators market analysis, Europe is anticipated to account for a significant share of the market over the forecast period owing to the growing emphasis of various European countries on promoting rural development and ensuring food security. The high requirement for plant growth regulators can also be associated with the booming agricultural sector as auxin, cytokinin, and gibberellins are used in various farming practices. Additionally, the harsh weather conditions in various countries of the region coupled with the increasing population are also booting the plant growth regulators market demand for ensuring agricultural productivity.

Competitive Landscape

Sumitomo Chemical Co., Ltd is a chemical company that manufactures and markets crop protecting agents and plant nutrition and plant growth regulators and inhibitors, among others. The company was founded in 1913 and is headquartered in Tokyo, Japan.

BASF SE, headquartered in Ludwigshafen, Germany, is a chemical manufacturing company that was founded in 1865. Their portfolio comprises of segments including agricultural solutions, chemicals, surface technologies, materials, nutrition and care, and industrial solutions, among others.

Syngenta Crop Protection, LLC is a leading agriculture company that is known for producing innovative on-seed protection treatments that can protect crops from diseases and pests. The company is also known for developing herbicides, insecticides, and fungicides.

Other market players include Nufarm Ltd, Bayer Crop Science AG, Corteva, Inc., Tata Chemicals Limited, United Phosphorus Ltd, FMC Corporation, WinField Solutions LLC, and Valent BioSciences Corporation, among others.

Key Highlights of the Report