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Plant Growth Regulators market Research, 2031
Plant growth regulators market has witnessed significant growth due to increase in use of agrochemicals by farmers to protect crops and enhance productivity.
plant growth regulators market growth is driven by rising demand for sustainable farming practices and enhanced crop yields have brought significant advancements in bio stimulants in past few years” - Allied Market Research (AMR) WIN SIVERS DRIVE, OR, UNITED STATES, November 22, 2024 /EINPresswire / -- Allied Market Research recently released a comprehensive report on the global plant growth regulators market , highlighting key industry insights to help companies gain a thorough understanding of the sector. The report indicates that the market is projected to reach $7.4 billion by 2031, with a CAGR of 13.9% from 2022 to 2031. The industry accounted for $2.2 billion in 2021.
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Key questions covered in the report:
What are the growth drivers and market restraints in the plant growth regulators industry?
Which segment is expected to gather the highest revenue share in the market?
Which region is projected to have the largest market value?
What is the total revenue share of the landscape?
Prime determinants influencing the market's growth
The plant growth regulators industry has witnessed significant growth due to increase in use of agrochemicals by farmers to protect crops and enhance productivity. Moreover, the rise in trend of in-house gardening and farming is expected to increase the demand for these bio stimulants. Nowadays, consumers are more inclined toward maintaining a healthy lifestyle, which has increased the demand for fruits and vegetables. This is expected to create wide growth opportunities for the sector in the coming period. In addition, a surge in the need for medical crops, seeds, and flowers is expected to boost the use of plant growth regulators in horticulture businesses during the estimated timeframe. However, lack of awareness about numerous benefits of bio-inhibitors impedes market growth moderately.
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Latest developments in the landscape
Rise in demand for sustainable farming practices and enhanced crop yields have brought significant advancements in bio stimulants in the past few years. Furthermore, there is a rise in emphasis on the use of bio-inhibitors, which have become popular due to their ability to enhance plant growth and resilience. These natural substances improve nutrient uptake and stress tolerance, leading to healthier crop production.
Moreover, the increased use of auxins and gibberellins, which are known for promoting root development and fruit growth, has played a major role in enhancing stem elongation and flowering. Their effectiveness in increasing crop yield boosts the usage of these bio-stimulants in modern agriculture.
In addition, rise in integration of plant growth regulators with precision agriculture technologies, such as IoT and data analytics, has opened new possibilities in the agriculture industry. They prevent and control crop disease and promote sustainable development of crops, maximizing yield while minimizing environmental impact.
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Competitive analysis
The AMR report offers a detailed analysis of the competitive landscape within the industry, utilizing scientific analytical tools such as Porter's Five Forces. This study aims to provide companies with insights into the various strategies adopted by leading corporations.
The report profiles major companies in the market, such as:
Corteva Agriscience
FMC Corporation
Arysta Life science
Syngenta AG
TATA Chemicals Limited
UPL Limited
BASF SE
Nufarm
Sumitomo Chemical Australia
Bayer Crop Science AG
In conclusion, the AMR report delivers actionable insights and market intelligence on the plant growth regulators industry, enabling businesses to formulate strategies for enhancing their presence in the sector. In addition, the valuable information provided in the study assists companies in making informed investment decisions for long-term success.
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David Correa
Allied Market Research
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