Global Plant Growth Regulators Market 2017-2021

Overview of the plant growth regulators (PGRs) market

Extensive research carried out by the analysts at Technavio has shown that the global plant growth regulators (PGRs) market will witness fast-paced growth and will post a CAGR of close to 7% during the forecast period. A major surge in the growth of the organic industry is one of the major factors driving the growth of the plant growth regulators market. The increasing awareness about the health hazards associated with the use of chemicals in food and household products is impelling individuals to shift to organic food products, which will, in turn, propel the growth prospects for the PGRs market over the coming years.

One of the recent trends gaining traction in the market is the rapid growth in the pharmaceutical industry, which is primarily driven by changing lifestyles, aging population, unhealthy eating habits, and increased occurrence of chronic diseases across the globe. With the growing pharmaceutical market, the demand for herbal medicines is rising due to high-priced allopathy substitutes. The major pharma companies are investing in R&D expenditure for developing of plant-derived medicines to cope up with the rising demand for herbal medicines. This is expected to contribute to the market growth of PGRs during the forecast period.

Competitive landscape and key vendors

The global PGRs market is highly competitive and is dominated by a few key players in the market. The key vendors have vast geographical presences with massive production facilities located globally. Nonetheless, there are a sizeable number of small regional vendors with significant shares in the market. The major players compete in terms of innovations, price, and quality of the product.

 Key vendors in this market are -

• BASF
• DOW Chemical
• FMC
• Nufarm
• Syngenta

Other prominent vendors in the market are Bayer CropScience, Nippon Soda, Tata Chemicals, Valent BioSciences, and Xinyi (H.K.) Industrial.

Segmentation by type and analysis of the PGRs market

• Cytokinins
• Auxins
• Gibberellins

The cytokinins segment led the global PGRs market during 2016 and will continue to dominate the market until the end of 2021. Cytokinins are one of the key phytohormones that induce cell division in plant roots and shoots. Moreover, these plant hormones also affect dormancy, cell enlargement, flowering, and fruiting in plants. They are primarily used in the biomedicine, pharmaceutical, food, agriculture, and cosmetic industry. Furthermore, cytokinins are help in preventing the senescence of fruits, flowers, and leaves and therefore used in the agriculture industry to enhance the overall yield.

Geographical segmentation and analysis of the PGRs market

• APAC
• Europe
• North America
• ROW

In terms of geography, Europe was the highest revenue contributing region in the global PGRs market during 2016 and will continue to lead the market in the coming years. The growth of this market in the region is attributed to the fact that Europe has abundant availability of land for organic farming where bio-based alternatives of fertilizers such as PGRs are widely adopted. Moreover, European countries like Italy, Germany, France, Spain, and the UK have a thriving cotton textile industry, which will further contribute to this market’s growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global PGRs market?
• What are the key market trends impacting the growth of the global PGRs market?
• What are the challenges to market growth?
• Who are the key vendors in the global PGRs market?
• What are the market opportunities and threats faced by the vendors in the global PGRs market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global PGRs market?

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