Plant Growth Regulators Market - By Product (Cytokinins, Auxins, Gibberellins, Ethylene), By Application (Fruits & Vegetables, Cereals & Grains, Oil seeds & Pulses, Turf & Ornaments) & Forecast, 2024 – 2032

Plant Growth Regulators Market Size

Plant Growth Regulators Market was valued at around USD 8.23 billion in 2023 and is anticipated to register a CAGR of over 6.5% between 2024 and 2032. The market is driven by the increasing demand for higher crop yields to meet the food needs of a growing global population.
 

Advancements in agricultural technologies and the shift towards sustainable farming practices are boosting the adoption of PGRs. Additionally, the rising awareness about the benefits of using PGRs to enhance crop quality and reduce maturation time is propelling market growth. The expansion of organic farming and the need for eco-friendly agricultural inputs are further stimulating demand. Government initiatives and subsidies supporting modern agricultural practices also play a significant role in driving the plant growth regulators industry. Thus, the market is expected to attain a market value of over USD 14.83 billion by 2032.
 

Regulatory challenges and safety concerns are significant hurdles for the Plant Growth Regulators (PGR) market. Strict regulations govern the use and approval of PGRs, requiring extensive testing to ensure they do not pose risks to human health or the environment. Variations in regulatory standards across different regions complicate market entry and compliance for manufacturers. Additionally, concerns about the potential negative impacts of PGRs, such as toxicity or environmental harm, can lead to resistance from consumers and advocacy groups. These factors can slow down the adoption of PGRs and create obstacles for market growth.
 

Plant Growth Regulators Market Trends

The Plant Growth Regulators (PGR) market is experiencing notable trends driven by advancements in agricultural technology and a growing focus on sustainable farming. There is an increasing shift towards organic and eco-friendly PGRs, reflecting consumer demand for safer and more natural products. Precision agriculture and biostimulants integration are also gaining traction, enhancing the efficiency and effectiveness of PGR applications. Additionally, the rising global demand for high-quality crops is pushing farmers to adopt PGRs for improved yield and crop health. These trends are collectively shaping the future growth and development of the PGR market.
 

Plant Growth Regulators Market Analysis

Based on product, the market is divided into cytokinins, auxins, gibberellins, ethylene and others. Cytokinins held the dominant market share of 3.43 billion in 2023 and is expected to reach USD 6.26 billion by 2032. Cytokinins are a dominant product in the market due to their crucial role in promoting cell division and growth in plant roots and shoots, leading to increased crop yields and better plant health. They are widely used to delay leaf senescence, enhancing the shelf life and quality of fruits and vegetables, which is vital for both farmers and consumers. The ability of cytokinins to improve stress resistance and adaptability in plants makes them highly valuable in various agricultural applications. Additionally, the increasing focus on sustainable and efficient farming practices boosts the demand for cytokinins. These factors collectively contribute to the dominance of cytokinins in the market.
 

Based on application, the market is categorized into fruits & vegetables, cereals & grains, oil seeds & pulses and turf & ornaments. Fruits & vegetables accounted for 41% market share in 2023 and is projected to grow through 2032. Fruits and vegetables dominate the Polyhydroxyalkanoate (PHA) market due to the high demand for sustainable and biodegradable packaging in this sector. PHAs offer excellent barrier properties and biodegradability, making them ideal for extending the shelf life of fresh produce while reducing plastic waste. The increasing consumer preference for eco-friendly packaging solutions drives the adoption of PHAs in this application. Additionally, regulatory pressures to reduce single-use plastics in food packaging further bolster this trend. As a result, the fruits and vegetables segment leads the PHA market in terms of application.
 

Europe dominated the global plant growth regulators market in 2023. It generated a revenue of USD 4.17 billion in 2023 and is expected to reach USD 7.47 billion by 2032. Europe dominates the Plant Growth Regulators (PGR) market due to its advanced agricultural practices and strong regulatory support for sustainable farming. The region has a well-established agricultural sector with a high adoption rate of modern farming techniques, including the use of PGRs to enhance crop yield and quality. European farmers are increasingly focused on sustainable agriculture, driven by stringent environmental regulations and consumer demand for eco-friendly products. This focus on sustainability and innovation in farming practices significantly boosts the demand for PGRs in Europe.
 

Among the countries in Europe, Germany stands out as the dominant player in the PGR market. Germany's strong emphasis on research and development, coupled with its advanced agricultural infrastructure, facilitates the widespread use of PGRs. The country's regulatory framework supports the adoption of modern agricultural inputs, including PGRs, ensuring high standards of crop production and environmental safety. Additionally, Germany's large agricultural sector and its commitment to sustainable farming practices position it as a leader in the European PGR market, driving overall market growth in the region.
 

Plant Growth Regulators Market Share

The competitive landscape for plant growth regulators (PGRs) is marked by the presence of several key players, each leveraging their strengths to capture market share. Leading companies like BASF SE, Bayer AG, and Syngenta AG are at the forefront, driven by their extensive research and development capabilities, broad product portfolios, and strong global presence. These companies invest heavily in innovation to develop advanced PGR formulations that cater to the evolving needs of modern agriculture, such as improving crop yield, enhancing stress resistance, and promoting sustainable farming practices. Their ability to offer comprehensive solutions, coupled with robust distribution networks, positions them as dominant forces in the PGR market.
 

In addition to these industry giants, companies like Adama Agricultural Solutions Ltd, Arysta Lifescience, and Valent Biosciences LLC contribute to the dynamic competitive environment with their specialized expertise and targeted market strategies. These firms often focus on niche segments or specific geographic regions, providing tailored PGR products that address local agricultural challenges. Nufarm Limited and Nippon Soda Co Ltd also play significant roles, leveraging their unique product offerings and strong regional footholds to compete effectively. Meanwhile, DowDuPont and Tata Chemicals Ltd continue to expand their influence through strategic partnerships and innovations. This competitive interplay fosters a vibrant market landscape characterized by continuous advancements and diverse product options for farmers worldwide.
 

Plant Growth Regulators Market Companies

Major players operating in the industry include:

• Adama Agricultural Solutions Ltd
• Arysta Lifescience
• BASF SE
• Bayer AG
• Dow
• Nippon Soda Co Ltd
• Nufarm Limited
• Syngenta AG
• Tata Chemicals Ltd
• Valent Biosciences LLC
   

Plant Growth Regulators Industry News

• In December 2022, Corteva Agriscience announced a collaboration with NEVONEX, to explore the precision application of crop protection products using on-farm data, advanced analytics, and spray equipment. By merging data-driven crop protection applications with conventional machine spray technology, the collaboration aimed to add value for farmers, thereby helping the company retain clients.
   
• In March 2023, Corteva Agriscience strengthened its leadership in the rapidly expanding biologicals sector by acquiring Symborg, a specialist in microbiological technologies headquartered in Murcia, Spain, and Stoller, a leading independent biologicals firm based in Houston, Texas, U.S. These acquisitions enhance Corteva's portfolio with plant growth regulators, positioning the company to capture a significant market share.
   

The plant growth regulators market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Product

• Cytokinins
  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments
• Auxins
  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments
• Gibberellins
  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments
• Ethylene
  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments
• Others
  • Fruits & vegetables
  • Cereals & grains
  • Oil seeds & pulses
  • Turf & ornaments

Market, By Application

• Fruits & vegetables
• Cereals & grains
• Oil seeds & pulses
• Turf & ornaments

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA