The "Global Plant Growth Regulator Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global plant growth regulator market is projected to surge with a CAGR of 6.10%, increasing from a market size of USD3.449 billion in 2019 to a market size of USD4.921 billion by the end of 2025.
Plant growth regulators are defined as one of the classes of agrochemicals used for regulating the growth of plants. These find application in promoting or inhibiting the growth of several crops for enhancement in their productivity. With the growing global population, the demand for food has also significantly increased driving the demand for plant growth regulators in the forecast period. Hence, manufacturers are producing plant growth promoting products for the increase in plant yields.
Commercial greenhouses are being utilized extensively from big farms to small nurseries. The growing urbanization, in addition to less availability of agricultural land, is serving as the major driver driving the growth of the global commercial greenhouse market. Additionally, with the changing climatic conditions at the time of traditional mode of farming, this is further resulting in the adoption of commercial greenhouses which is further fueling the installation of commercial greenhouses, further propagating the market growth over the next five years.
Region-wise, North America and Europe are expected to hold a significant market share in the commercial greenhouse industry while the Asia-Pacific region is considered the fastest growing region. With rapid urbanization and the evolving lifestyle of individuals, the market for plant growth promoters with the increasing urban population is growing at a significant rate along with the surge in commercial greenhouse market growth to feed the increasing urban population.
In 2018, on a global level, more people live in urban areas than in rural areas, this comprises more than 50% of the world's population residing in urban areas. Around 30 percent of the world's population was urban in 1950, and by 2050, more than 60 percent of the world's population is projected to be urban. At present, the most urbanized regions include Northern America (where more than 80% of its population resides in the urban areas in 2018), more than 80% resides in Latin America and the Caribbean region, while over 70% is based in the European region and over 60% is living in the Oceania region. In the Asian region, the urbanization level is around 50%. On the other hand, the African region is mostly rural, where only over 40% of its population is living in urban areas (source: The United Nations).
The rapid urbanization has led to the major changes which include the changing lifestyle conditions hence leading to the change in their diets and demands as well. Also, the agricultural or arable land required for the cultivation of crops in order to feed the growing population is shrinking due to the maximum population shifting to the urban areas from the rural areas. This has eventually led to the increase in the demand for commercial greenhouses which under controlled conditions can be used for the production of a variety of crops irrespective of the season and changing climatic conditions. In the end, it is highly beneficial in the case of less land availability due to urbanization.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.5. Industry Value Chain Analysis
5. Global Plant Growth Regulator Market Analysis, by Type
5.5. Abscisic Acid
6. Global Plant Growth Regulator Market Analysis, by Crop Type
6.2. Fruits and Vegetables
6.3. Cereals and Grain
6.4. Oilseeds and Pulses
7. Global Plant Growth Regulator Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. BASF SE
9.3. Rallis India Limited (A TATA Enterprise)
9.4. Godrej Agrovet Limited
9.5. Bayer CropScience Ltd.
9.6. Dhanuka Agritech Ltd.
9.7. Sigma-Aldrich, Inc.
9.8. Fine Agrochemicals
9.9. WinField United
9.10. Valent BioSciences LLC
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