Plant Growth Regulators are the chemicals capable of enhancing the physiological response of the plants. Plant Growth Regulators are capable of translocation to the low concentrations part of the plant. It helps in increasing the availability and supply of the primary nutrients to the plants; thus, promote and modify the development & growth of the plants such as elongation of stems, formation of flowers & leaves and development of fruits. These plant growth regulators are widely used to meet the requirement of the food supply.
The factors that are driving the growth of the plant growth regulators are growing textile industry, increasing demand of cotton, and rising practice of organic farming. However, increasing awareness of the farmers towards agro chemicals is the major limiting factor of plant growth regulators. Advanced innovative products of organic farming and rising practice of eco-friendly methods of farming are expected to create lot of opportunities for the growth of the plant growth regulators.
Plant Growth Regulators Product Market Analysis
Plant Growth Regulators Product Market is segmented into auxins, cytokinins and others (Gibberellins, Mepiquate chloride, etc). Cytokinin is the largest revenue generating segment due to high demand for herbal plants. Cytokinins possess half market share in the plant growth regulators market.
Plant Growth Regulators Geography Market Analysis
Geographically, Market is segmented into North America, Europe, Asia Pacific and RoW. Europe is the largest revenue-generating segment due to its increasing adoption of eco-friendly methods of farming and due to high demand for organic food.
The key strategies adopted by the companies to expand in the plant growth regulators market are product launches, mergers & acquisitions and agreements & collaborations. These strategies would provide efficient products and yield strong performing products that support the market regulations and finally, exhibit better customer satisfaction. The companies profiled in this report are Sichuan Guoguang Agrochemical Co. Ltd., Redox Industries Ltd., NuFarm Limited, DuPont, Crop Care Limited, Bayer CropScience, and BASF.
High level Analysis
The report presents detailed analysis of plant growth regulators market using Porter’s five forces model. Degree of bargaining power of consumers is expected to be high due to competition among industry leaders for innovative products. Degree of bargaining power of suppliers is expected to be moderate, due to good number of vendors present in the market. Threat of new entrants is high, as business needs moderately high capital investment.
KEY MARKET SEGMENTS
Plant Growth Regulators market Analysis is segmented on the basis of products and geographies.
Market by Product
Market by Geography