The global plant growth regulators market was valued at $2.2 billion in 2021, and is projected to reach $7.4 billion by 2031, growing at a CAGR of 13.9% from 2022 to 2031. Synthetic chemicals called "plant growth regulators" imitate the hormones that plants naturally make. They control or modify a plant's physiological processes to achieve desired effects like improvement in yield and quality. Some common examples include auxins, cytokinins, and gibberellins.
Plant growth regulators in the form of bio-stimulants/bio-inhibitors are in high demand, particularly in agriculture-based economies. Scientific improvements have followed as agriculture has grown more industrialized, assuring the use of innovative inputs to promote crop yield, which has raised demand for plant growth regulators. Additionally, driving the plant growth regulators market include farmers' use of agrochemicals to improve crop protection and supply nutritious product, as well as the rising trend of in-house gardening and farming. These are the major factors anticipated to boost the plant growth regulators market share during the analysis timeframe.
Plant growth regulators are chemical substances that impact plant cell, organ, and tissue development and differentiation. Plant growth regulators can significantly increase crop productivity. It has been shown that a significant percentage of farmers are still unaware of the many types of plant growth regulators available, as well as their accurate and proper technique of application. Furthermore, many farmers are unaware of the cost benefits associated with growth regulators. Lack of awareness regarding benefits of plant growth regulators is expected to restrict the market growth.
Plant growth regulators are chemicals that are used to manage and enhance the natural plant development process. The growing worldwide population, increased consumer desire for organic food, and shrinking agricultural land are the primary factors driving the growth of the plant growth regulator industry. The growing consumer awareness of the importance of maintaining a healthy lifestyle is driving up demand for fruits and vegetables. This, in turn, is expected to drive market expansion throughout the forecast period. Growing demand for medical crops, flowers, and seeds will benefit the horticulture business. This is expected to provide the market with significant plant growth regulators market growth opportunities during the forecast period.
The key players profiled in this report include BASF SE, Bayer Crop Science, Corteva Agriscience, Crop Care Australasia Pty Ltd., Barclay Crop Protection, Sumitomo Chemical Australia Pty Ltd., NuFarm Ltd., Redox Industries Ltd., Xinyi (H.K.) Industrial Co. Ltd., and Sichuan Guoguang Agrochemical Co. Ltd.
The global plant growth regulators market is segmented on the basis of type, crop type, and region. As per type, the market is sub-segmented into auxins, gibberellins, cytokinins, absicisic acid, and ethylene. By crop type, the market is classified into cereals, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the auxins sub-segment dominated the market in 2021. Auxins are plant growth hormones that regulate cell division and vascular tissue production. They promote root initiation, shoot maturation, and apical dominance (the tendency for the main stem to grow tall without side branches), as well as fruit production. Auxins can be utilized as root stimulators or retarders, cut flower stimulators or retarders, leafing inhibitors or promoters, etc. These are predicted to be the major factors affecting the plant growth regulators market size during the forecast period too.
By crop type, the cereals sub-segment dominated the global plant growth regulators market share in 2021. Plant growth regulators are used in cereal to regulate the crop cycle, avoid lodging of crops, and improve grain size and quality. By delaying the ripening process, they assist to decrease post-harvest losses and allow harvesting intervals to be prolonged. Due to their capacity to boost plant vigor and production, auxins and cytokinins play a significant role in this application, resulting in higher yields of produce of superior quality.
By region, Europe dominated the global market in 2021. High demand for fruits and vegetables in the region, as well as harsh climatic circumstances in many countries, are projected to expand the use of plant growth regulators to boost agricultural productivity. Europe is one of the most key markets for plant growth regulators, owing to rising demand from nations such as Germany, the United Kingdom, France, and Italy, among others. This may be attributable to the region's expanding population, which is predicted to boost the regional market during the plant growth regulators market forecast years.
| Report Metric | Details |
| Report Name | Global Plant Growth Regulators Market |
| Base Year | 2021 |
| Forecasted years | 2022-2031 |
| By Company | BASF SE, UPL Limited, TATA chemicals limited, Arysta Life science, Sumitomo Chemical Australia, Bayer Crop Science AG, Syngenta AG, Corteva Agriscience, Nufarm, FMC Corporation |
| Segment by Type |
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| Segment by Crop Type |
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| Consumption by Region |
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| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
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