The global plant growth regulators market revenue is expected to register a moderate CAGR over the forecast period. The global plant growth regulators market report has been segmented on the type, crop type, function, and region. Increasing demand for organic food products is major factor expected to drive growth of the target market over the forecast period.
However, stringent government regulation for the approval of plant growth regulators is major factor expected limit the growth of market over the forecast period.
Based on type, the global plant growth regulators market is segmented based on cytokinins, auxins, gibberellins, ethylene, and abscisic acid. The cytokinins segment is expected to account major revenue share over the forecast period as it helps in the production of new leaves, lateral shoot growth, chloroplasts in leaves etc.
Based on function, the global plant growth regulators market is segmented based on plant growth promoters and plant growth inhibitors. The plant growth promoters are expected to contribute major revenue share as compared to that of other segments.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Market in Europe is expected to account major share in term of revenue as compared to that of other region. Asia Pacific region is expected to witness rapid growth rate over the forecast period. Increasing demand for plant growth regulators in the countries such as India and China owing to growing awareness regarding consumption of organic food is expected to drive the growth of the market in the region.
Some prominent players in the global plant growth regulators market are Nufarm Limited, The DOW Chemical Company, ADAMA Agricultural Solutions Ltd., Syngenta AG, Bayer Cropscience AG, BASF SE, FMC Corporation, Nippon Soda Co. Ltd., Valent Biosciences Corporation, and Arysta LifeScience Corporation.