The Plant Growth Regulators Market was valued at USD 2.9 billion in 2022 and is projected to reach USD 4.5 billion by 2028, at a CAGR of 7.4% during the forecast period. Plant Growth Regulators are chemicals used to modify plant growth, such as increasing branching, suppressing shoot growth, increasing return bloom, removing excess fruit, or altering fruit maturity. Numerous factors affect PGR performance, including how well the plant absorbs the chemical, tree vigor and age, dose, timing, cultivar, and weather conditions before, during, and after application. Plant growth regulators can be grouped into six classes: compounds related to auxins, gibberellins, gibberellin biosynthesis inhibitors, cytokinins, abscisic acid, and compounds affecting the ethylene status.
Asia Pacific to grow at a CAGR of 8.2% during the forecast period.
The Asia Pacific plant growth regulators market accounted for a share of about 30.9% of the total market, in terms of value, in 2022. The region is an emerging market with investments from several multinational manufacturers, especially in countries such as China, New Zealand, and Japan. The Asia Pacific region contributes to more than 60% of the global population, with China and India being two of the most populous countries. This rising food demand from the region has led to the use of plant growth regulators. The primary occupation of the population in the Asia Pacific region is agriculture. The increasing agricultural practices and requirement for high-quality agricultural produce are expected to drive this region's plant growth regulators market. The major crops produced here are rice, sugar beet, fruits & vegetables, cereals, and grains. Cotton, sugarcane, fruits & vegetables, and cereals are the leading agricultural commodities exported from these countries.
The Asia Pacific region comprises developing countries with vast agricultural lands. The per capita income of the region depends on its agricultural activities. Advanced agricultural technologies are widely accepted and practiced in this region. According to recent figures from the World Bank, nearly 57.3% and 61.2% of the entire land area was accounted for as agricultural land in China and India, respectively, in 2021. According to the International Monetary Fund (IMF), in 2022, these two developing countries were the largest economies in the Asia Pacific, and thus, they provided significant market opportunities for global manufacturers. The key crops produced in this region include rice, sugarcane, sugar beet, fruits & vegetables, and other cereals & grains. India, China, Japan, and Australia are the key countries that play an important role in agriculture in this region. Cotton, sugar crops, fruits & vegetables, and cereals are the leading agricultural commodities exported from these countries.
The key players in this market include Sumitomo Chemicals Co., Ltd. (Japan), Xinyi Industrial Co., Ltd. (China), Sichuan Guoguang Agrochemical Co., Ltd. (China) Tata Chemicals Ltd. (India), and UPL (India).
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Region-wise Analysis Global Plant Growth Regulators Market covers:• North America • Europe • China • Japan • Southeast Asia • India The Report covers in-depth analysis as follows: • Chapter 1 Plant Growth Regulators Market Overview • Chapter 2 Global Economic Impact on Plant Growth Regulators Industry • Chapter 3 Global Plant Growth Regulators Market Competition by Manufacturers • Chapter 4 Global Plant Growth Regulators Production, Revenue (Value) by Region (2013-2018) • Chapter 5 Global Plant Growth Regulators Supply (Production), Consumption, Export, Import by Regions (2013-2018) • Chapter 6 Global Plant Growth Regulators Production, Revenue (Value), Price Trend by Type • Chapter 7 Global Plant Growth Regulators Market Analysis by Application • Chapter 8 Global Plant Growth Regulators Manufacturers Analysis • Chapter 9 Plant Growth Regulators Manufacturing Cost Analysis • Chapter 10 Industrial Chain, Sourcing Strategy and Downstream Buyers • Chapter 11 Marketing Strategy Analysis, Distributors/Traders • Chapter 12 Market Effect Factors Analysis • Chapter 13 Global Plant Growth Regulators Market Forecast (2018-2023) Gain Full Access of Plant Growth Regulators market industry analysis & forecast 2018-2023 along with complete TOC @ https://www.upmarketresearch.com/reports/plant-growth-regulators-market “Plant Growth Regulators Market Industry Analysis and Forecast 2018-2023” report helps the clients to take business decisions and to understand strategies of major players in the industry.
