Plant Growth Regulators Market Size
and Growth Rate:
The Global
Plant Growth Regulators Market Size was valued at USD 5189.5 Million in 2018
and growing at a CAGR of 4.32%, Expected to reach USD 6411.56 million by 2023
during the forecast period 2018-2023.
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Regulators Market @ https://www.researchcosmos.com/reports/plant-growth-regulators-market/876867648
Plant Growth Regulators Market
Overview:
Growth
regulators for plants are chemical products which can improve the physiological
response of plants. The regulators of the growth of plants can travel to parts
of plants of low density. Encouraging and modifying the growth and development
of plants, such as height of stems, flowering and leaf formation and fruit
development. This plant growth regulator is widely used to meet the needs of
food supply.
Plant Growth Regulators Market Growth
Drivers and Restraints:
Growth
regulators of plants are used to modify the physiological processes. This
includes the stimulation or regulation of metabolic or enzymatic systems. Due
to the need to protect crops as global food demand increases, demand for
regulatory markets for plant growth around the world is increasing. The factors
that lead to the growth of plant growth regulators are the growth of the
textile industry, the increase in demand for cotton and the practice of organic
farming. To ensure the protection of crops and reduce production costs, farmers
must choose new methods that involve the use of pesticides and organic
agriculture as a concern for profitability. This will create even more demand
for regulators of plant growth, especially in the agricultural economy.
However,
the strong footprint of fertilizers in the agricultural sector of long duration
will probably limit to a certain extent the demand of growth regulators of the
plants. Also, the perception of farmers on agricultural chemicals is an
important limiting factor for plant growth regulators. It is expected that
strict regulations on pesticides limit the demand of these regulators by
turning farmers' focus into profitable biological alternatives. It is expected
that the application of advanced innovative products and ecological methods of
organic agriculture will generate many opportunities for the growth of plant
growth regulators.
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Plant Growth Regulators Market
Geographical Segmentation:
North
America was the largest fruit and vegetable market in 2016, worth $ 17.44
million. According to a report by the Organic Trade Association, 2016 sales of
organic foods in the United States exceeded $ 40 billion. 5.0% of total food
sales nationwide. It is expected that the increase in demand for organic food
will drive demand for products in the region. North America accounted for 23.9%
of revenue in 2014. The Asia-Pacific region accounted for 13.7% of the global
regulator market in the same year. Agricultural land in India is declining at a
rate of 30,000 hectares per year.
Keyplayers of the Plant
Growth Regulators Market:
The key
market players are BASF SE, FMC Corporation, Bayer Cropscience, Somitomo
Chemicals Company, Xinyi Industrial Co., Ltd, Syngenta AG, Nufarm Limited,
Valent Bioscience Corporation, Dow Chemical Company and WinField Solutions.
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