Crop Growth Regulator Market

Crop Growth Regulator Market Outlook (2024 to 2034)

Worldwide revenue from the sales of crop growth regulators is estimated to stand at US$ 3.68 billion in 2024 and is slated to increase at a CAGR of 6.7% to reach US$ 7.07 billion by the end of the forecast period in 2034.

The agricultural industry is undergoing significant changes worldwide. The demand for food is significantly influenced by the expansion of emerging markets. Meanwhile, new technologies are developing, consumers in developed economies are becoming more involved in determining what industry produces, and resource restrictions are placing pressure on the delicate supply-demand balance. The industrial structure is redefined through a fundamental transition.

PGR for trees, shrubs, groundcovers, and hedges reduces pruning and trimming labor by about 50%, according to several studies and figures. Plant growth regulators are intentionally created by humans to promote the growth and development of plants, in contrast to plant hormones, which are generated by plants.

The industry is projected to grow considerably over the next several years due to the growing demand for premium food grains. The Indian Council for Agricultural Research (ICAR) projects that by 2030, 345 million tons of food grains will be consumed in India. Asian PGR businesses are working very hard to expand regionally and build their brands by acquiring other companies.

The growing trade needs for industrial operations are likely to drive significant expansion in the global market. In addition, farming methods, technology developments, and customer preferences for organic foods will have a positive impact on market expansion. Urbanization, population increase, and the rise in the textile sector are some of the factors are positively influencing market development.

Reductions in the amount of land available for cultivation, a strong product portfolio for broad-acre crops, and rising investment in agricultural activities in potentially high growth countries are all projected to present lucrative growth possibilities for the plant growth regulator market growth.

Due to the lengthy regulatory processes for new products and the need for increased public knowledge of the advantages of plant growth regulators, market expansion is taking longer than expected. Furthermore, the market growth rate requires enhancement due to the substantial expenses linked with regulatory obligations and the discovery of plant growth regulators that control genic/multigenic expressions.

The necessity to boost agricultural output and quality as well as the expanding global population's demand for food are the two main market drivers. Plant development and growth are governed by plant growth regulators, which increase crop productivity, strengthen plant resilience to stress, and improve plant quality.

Report Attribute	Detail
Crop Growth Regulator Market Size (2024E)	US$ 3.68 Billion
Forecasted Market Value (2034F)	US$ 7.07 Billion
Global Market Growth Rate (2024 to 2034)	6.7% CAGR
East Asia Market Value (2034F)	US$ 1.63 Billion
North America Market Share (2034F)	24.3%
Auxins Segment Value (2034F)	US$ 1.58 Billion
Japan Market Value (2034F)	US$ 480 Million
Key Companies Profiled	Dhanuka Agritech Ltd.; BASF SE; PBI-Gordon Companies, Inc.; Corteva Agriscience; Syngenta Group; Biotechnology Co., Ltd; Sikko India; FMC Corporation; Hangzhou Tianlong; Nufarm; De Sangosse; Sichuan Guoguang Agrochemical Co., Ltd; Bayer AG; Tata Chemicals Ltd.; Zagro; UPL; Sumitomo Chemical Co., Ltd.; Barclay Chemicals; Nippon Soda Co., Ltd.; Barclay Chemicals; Sipcam Oxon Spa; Aristo Biotech.

Which Factors are Stimulating Demand Growth for Crop Regulators?

“More Suppliers Focusing on High Profit Regions Including Australia”

Reputable PGR businesses worldwide are projected to focus on important fruit-producing and -consuming countries, including Australia and Japan to increase their profit margins. In this regard, the demand for PGRs is projected to increase over the projected period due to the expansion of the avocado industry in Australia.

In 2022, the EU countries collected around 8.6 million tons of summer fruits, such as watermelon, muskmelon, strawberries, peaches, and nectarines, according to a study by Eurostat on summer-related foods. Almost half of the watermelons and 32% of the muskmelons produced in the EU are produced in Spain, making it one of the top producers of summer fruits. The application of PGRs in fruit production is generating remunerative opportunities for market players, according to historical worldwide fruit production and trade trends; this is becoming a major factor responsible for the increasing crop growth regulator market size.

“Increasing Requirements for Agricultural Yield Thrusting Demand”

Globally expanding consumption and the growing demand to increase agricultural yield are driving the expansion of the plant growth regulator market. Cereal output is rising globally as concerns about food security and safety grow. The world's top producers of cereals are China, Indonesia, India, Brazil, the United States, Argentina, Russia, and France. The Department of Agriculture and Farmers Welfare reports that India's food grain output increased by 14 MT between 2021 and 2022 to 330.05 MT from 2022 to 2023.

Demand for crops, especially grains, is rising due to changing consumer habits and growing populations globally. The availability of more high-productive cereal varieties and advancements taking place in crop production techniques are contributing to the increased cereal output in Asian countries, such as China, India, and others.

Given the growing demand and popularity of using PGRs in fruit plants, the expanding worldwide fruit commerce and production is supporting market expansion. One of the biggest exporters of fruits worldwide is the United States. Due to unfavorable weather and little rainfall, citrus fruit output in the United States decreased by approximately 12% from 2021-2022 to 4.9 million tons in 2022-2023, according to the U.S. Department of Agriculture's National Agricultural Statistics Services (USDA/NASS). PGRs assist producers in increasing crop output by mitigating the negative effects of abiotic stress.

What is Putting a Tremendous Pressure on Crop Growth Regulator Providers?

“Easy Availability of Alternatives Harming Growth Landscape”

The global need for PGRs is hampered by the growing popularity and availability of PGR alternatives, such as fertilizers. The FAO reports that the amount of fertilizer used globally per hectare of arable land is growing significantly. Even though the use of PGRs is growing globally, several farmers, especially in Asian markets, stick to traditional agricultural methods and practices and use conventional agricultural products, including fertilizers instead of focusing on innovative crop protection and regulation strategies.

Country-wise Analysis

The global population is rising every year and this large population requires a huge amount of food, which is leading to increasing demand for crop growth regulators worldwide. Some of the major countries contributing to this market include the United States, China, Canada, Mexico, and South Korea. The United States market is forecasted to hold a strong crop growth regulator market share.

What is Bringing New Sales for Suppliers in the United States?

“Enormous Food and Bakery Industry Requiring Crop Growth Regulators”

Attribute	United States
Market Value (2024E)	US$ 391.7 Million
Growth Rate (2024 to 2034)	7.2% CAGR
Projected Value (2034F)	US$ 783.2 Million

The surge in new sales of crop growth regulators for suppliers in the United States is attributed to the growing demand from the enormous food and bakery industry. Suppliers are seeing a significant uptick in the market for crop growth regulators with the increasing need for high-quality crops to support food and bakery production. This trend is driven by the industry's emphasis on ensuring optimal crop yields and quality to meet the needs of the expanding food and bakery sector, resulting in a positive impact on suppliers' sales and profitability.

Why are Suppliers in China Generating High Profit Margins?

“Country Exporting Huge Amount of Crops to Several Countries”

Attribute	China
Market Value (2024E)	US$ 403.4 Million
Growth Rate (2024 to 2034)	6.8% CAGR
Projected Value (2034F)	US$ 775.5 Million

Suppliers of crop growth regulators in China are experiencing substantial profits due to the country's significant exportation of crops to several countries. China's robust agricultural sector and large-scale crop production are positioning the country as a major exporter of crops, leading to a high demand for crop growth regulators to enhance crop quality and yield. As a result, suppliers in China are capitalizing on this export-driven demand, which is contributing to their significant profits and success in the market.

Category-wise Evaluation

Several product types are introduced by suppliers to cultivate and enlarge their market share. Some of the products prominently purchased and sold include cytokinins, auxins, and ethylene.

Which Product Type is the Reason Behind Huge Profits?

“Auxins Widely Getting Sold and Making Big Profits”

Attribute	Auxins
Segment Value (2024E)	US$ 817.7 Million
Growth Rate (2024 to 2034)	6.8% CAGR
Projected Value (2034F)	US$ 1.58 Billion

The reason behind huge profits is the widespread sale of auxins, which is been generating substantial revenue. The high demand and popularity of auxins among customers are making significant profits for the company. The efficient marketing and effectiveness of auxins are contributing to their widespread adoption and success in the market. All of these factors are positively influencing crop growth regulator market trends.

What Formulation Type is Significant Among Customers?

“Solutions are More Prominent Compared to Wettable Powders”

Attribute	Solutions
Segment Value (2024E)	US$ 2.01 Billion
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 3.9 Billion

In terms of formulation type, solutions are emerging as more prominent options among customers compared to wettable powders. More farmers are showing a clear preference for solutions over wettable powders, resulting in higher sales and market dominance for solution-based products. This preference is attributed to factors such as ease of use, convenience, and perceived effectiveness of solutions over wettable powders. As a result, companies should focus on developing and promoting solution-based formulations to cater to the preferences and demands of customers.

Market Competition

Key players in the crop growth regulator market are focusing on bringing new products including crop protection chemicals and ethylene acrylic acid.

• August 2023: AMVAC, a worldwide agriculture technology solution providing firm, boosted its product portfolio by launching a plant growth regulator - Mandolin, particularly developed for citrus fruits.
• In Shimla, Himachal Pradesh, in March 2023, Sumitomo Chemical India Ltd., a division of Sumitomo Chemicals, introduced Promalin®, a novel plant growth regulator. The product is offered in two North Indian states: Himachal Pradesh and Jammu & Kashmir, in pack sizes of one liter and 500 ml.
• June 2022: To increase its distribution network throughout Canada, the agricultural firm Valent Canada Inc. renewed its collaboration with the Australian company Nufarm Agriculture Inc.

Fact.MR provides detailed information about the price points of key suppliers in the crop growth regulator market positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Crop Growth Regulator Market Research

• By Product Type :

  • Cytokinins
  • Auxins
  • Gibberellins
  • Ethylene
  • Others

• By Formulation Type :

  • Wettable Powders
  • Solutions

• By Crop Type :

  • Fruits & Vegetables
  • Cereals & Grains
  • Oilseeds & Pulses
  • Turf & Ornamental

• By Function :

  • Promoters
  • Inhibitors

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa