MARKET OVERVIEW
Plant growth regulators basically control or regulate the growth processes of a plant, including the formation of leaves & flowers, elongation of stems, and development & ripening of fruits. Cytokinins are plant hormones that regulate several aspects of plant growth and further help in the development of cell division & differentiation, shoot & root growth, delay of senescence, also fruit & seed development. It also delays natural aging, which leads to the death of plants. Moreover, it is utilized to fix the wounded part of any plant. Auxins are utilized as rooting hormones mainly to regulate the growth of plant cells. Auxins are largely used in tissue culture as well as plant propagation.
MARKET SCOPE
The "Global Plant Growth Regulators Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the plant growth regulators market with detailed market segmentation by type, crop type, function, mode pf application and geography. The report provides key statistics on the market status of the leading plant growth regulators market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global plant growth regulators market is segmented into cytokinin, auxins, gibberellins, ethylene, and others
- Based on crop type, the global plant growth regulators market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others
- Based on function, the market is bifurcated into plant growth promoters and plant growth inhibitors
- Based on mode of application, the market is bifurcated into fertigation and foliar
MARKET DYNAMICS
Drivers
- Increased emphasis on sustainable farming
- Growing investment in agricultural activities in developing countries
- Rise in demand for organic food products and growth in organic food industry
Restraints
- Lack of knowledge regarding the benefit of plant growth regulators among some consumers may restrict the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The plant growth regulators market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the plant growth regulators market in these regions.
IMPACT OF COVID-19 ON PLANT GROWTH REGULATORS MARKET
As of June 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the plant growth regulators market. However, as the economies are planning to revive their operations, the demand for plant growth regulators is presumed to rise since consumers are buying food products through online retailers and increasing demand for more food products. Some of the safety measures followed by the food processing companies include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
MARKET PLAYERS
The report covers key developments in the plant growth regulators market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the plant growth regulators market are anticipated to lucrative growth opportunities in the future with the rising demand for plant growth regulators in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the plant growth regulators market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the key development in the past five years.
- ADAMA
- ARYSTA LIFESCIENCE
- BASF SE
- BAYER CROPSCIENCE
- Rainbow Treecare
- FMC CORPORATION
- NUFARM
- SYNGENTA AG
- Valent BioSciences Corporation
- Fine Americas, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.