Increasing global population
and decreasing cultivation area are anticipated to drive plant growth regulators market growth over the coming years.
Demand for the product is
likely to increase on account of decreasing area of productive land, growing
urbanization, and rising global population Declining agricultural yield due to
climatic changes coupled with increasing consumer preference for organic food
products is expected to positively affect the growth of the market.
Decreasing agricultural area
coupled with increasing demand for organic food is likely to be one of the key
trends stoking market growth.
Plant growth regulators are
valuable production tools that can enhance product quality and marketability
while reducing labor for pinching, pruning, and maintenance. Over the last few
decades, they have become an integral part of many horticulture and
agricultural production systems.
Product
Insights
Cytokinins are plant hormones
that regulate various aspects of plant growth and development such as shoot
& root growth, cell division & differentiation, delay of senescence,
and fruit & seed development. It delays the natural aging process that
leads to death in plants. Moreover, it is used to fix the wounded part of a
plant.
Cytokinins accounted for a
major revenue share of 40.2% in 2014 owning to high consumer awareness about
its positive effects on branching, nutrient remobilization, delaying of
senescence, and fast growth of flower & seeds.
Auxins are expected to
register moderate growth over the coming years. It is used as rooting hormones
to regulate growth process in plant cells. Auxins are majorly used in tissue
culture and plant propagation. In addition, it is most effective when combined
with cytokinins to elite their effects.
Other products include
gibberellins and mepiquate chloride. Gibberellin is used to increase sugarcane
yield, malting of barley, fruit production, and seed production. The brewing
industry has been witnessing significant growth worldwide on account of high
demand for beer. This trend is projected to keep the demand for gibberellin
high, thereby contributing to the growth of the other segment.
Access
Research Report of Plant
Growth Regulators Market@ https://www.grandviewresearch.com/industry-analysis/plant-growth-regulators-market
Further Key Findings
from the Report Suggest:
· The
cytokinins segment is expected to rise at a CAGR of 9.0% during the forecast
period owning to their ability to delay aging process of the plant
· Auxins
are projected to exhibit a CAGR of 8.8% over the same period due to increasing
use in cultivation of organic food to regulate the growth process
· The
others segment is anticipated to observe a CAGR of 8.2% from 2014 to 2020
owning to surging demand for gibberellin in the agriculture and brewing
industries.
· Asia
Pacific is likely to witness a CAGR of 9.3% during the same period due to
decreasing cultivation area and rising population in emerging economies such as
India and China
· Europe
accounted for a large share in the market in 2014 and it is estimated to
witness a CAGR of 8.5% over the forecast period owning to rising demand form
the U.K. and Germany to increase its agriculture production
· Market
players are engaged in developing application specific products in order to
increase their market scope. Manufacturers such as Xinyi (H.K.) Industrial Co.
Ltd. have their own research & development center.
Access Press Release of Plant Growth Regulators
Market@ https://www.grandviewresearch.com/press-release/global-plant-growth-regulators-market
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Grand View Research
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