Plant Growth Regulators Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Global Plant Growth Regulators Market Size accounted for USD 2.9 Billion in 2022 and is projected to achieve a market size of USD 6.1 Billion by 2032 growing at a CAGR of 7.9% from 2023 to 2032.

Plant Growth Regulators Market Highlights

• Global Plant Growth Regulators Market revenue is expected to increase by USD 6.1 Billion by 2032, with a 7.9% CAGR from 2023 to 2032
• According to the World of Organic Agriculture (FiBL), 1.6 percent of the world’s agricultural land was organic
• Europe region led with more than 34% of Plant Growth Regulators Market share in 2022
• Asia-Pacific Plant Growth Regulators Market growth will record a CAGR of around 8.5% from 2023 to 2032
• By type, the cytokinins segment contributed more than 43% of revenue share in 2022
• Increasing demand for high-quality crops and agricultural productivity, drives the Plant Growth Regulators Market value

Plant growth regulators (PGRs), also known as plant hormones or phytohormones, are naturally occurring or synthetic chemical substances that regulate various aspects of plant growth and development. These compounds play a crucial role in controlling processes such as seed germination, root and shoot growth, flowering, fruit ripening, and responses to environmental stimuli. There are several classes of plant growth regulators, including auxins, gibberellins, cytokinins, abscisic acid, and ethylene, each with specific functions in plant physiology.

The plant growth regulators market has been steadily growing in recent years due to the increasing demand for enhanced agricultural productivity and crop yield optimization. Farmers and growers use PGRs to manage plant growth, improve crop quality, increase yield, and mitigate the impact of adverse environmental conditions. Additionally, the adoption of PGRs in horticulture, floriculture, and turf management has further contributed to market growth. The global market for plant growth regulators is influenced by factors such as population growth, changing dietary preferences, and the need for sustainable agricultural practices. As a result, the market is expected to continue its growth trajectory, driven by the ever-increasing demand for food and the need to maximize agricultural efficiency while minimizing resource usage.

Global Plant Growth Regulators Market Trends

Market Drivers

• Increasing demand for high-quality crops and agricultural productivity
• Adoption of precision farming practices
• Growing awareness of sustainable agriculture
• Expanding horticulture and floriculture sectors
• Need to mitigate the impact of abiotic stress on crops
• Advancements in PGR formulation and application technologies

Market Restraints

• Environmental concerns and regulatory restrictions
• Limited awareness and knowledge among growers
• High development and registration costs

Market Opportunities

• Development of bio-based and eco-friendly PGRs
• Application of PGRs in non-agricultural sectors (turf management, forestry)
• Precision agriculture technologies integrating PGRs

Plant Growth Regulators Market Report Coverage

Plant Growth Regulators Market Dynamics

Plant Growth Regulators (PGRs), also known as plant hormones or phytohormones, are natural or synthetic chemical compounds that regulate various aspects of plant growth and development. These compounds play a crucial role in controlling processes such as seed germination, root and shoot growth, flowering, fruit ripening, and responses to environmental stimuli. There are several classes of plant growth regulators, each with distinct functions. For example, auxins promote cell elongation and are essential for root development, gibberellins stimulate stem elongation and seed germination, cytokinins influence cell division and promote lateral bud growth, abscisic acid regulates responses to environmental stress, and ethylene is involved in fruit ripening and senescence.

The applications of plant growth regulators in agriculture and horticulture are extensive. Farmers and growers use PGRs to manipulate plant growth and development for several purposes. They can enhance crop yield by stimulating flowering and fruiting, improve fruit size and quality, promote uniform ripening, and even control the height of ornamental plants. PGRs are also employed to mitigate the impact of adverse environmental conditions such as drought or extreme temperatures. Additionally, PGRs find applications in turf management, forestry, and landscaping, where they are used to control the growth of grasses, shrubs, and trees to achieve desired aesthetics and manage plant health.

The plant growth regulators (PGRs) market had been experiencing steady growth, driven by several key factors. One of the primary drivers was the increasing global population and the corresponding need to enhance agricultural productivity. PGRs were being increasingly adopted by farmers to optimize crop yields, improve crop quality, and mitigate the impact of adverse environmental conditions such as drought and salinity. Additionally, the growing awareness of sustainable agricultural practices and the demand for high-quality crops were spurring the use of PGRs. Furthermore, advancements in PGR formulation and application technologies were making it easier for growers to apply these regulators effectively, leading to increased adoption. The horticulture and floriculture sectors were also contributing to market growth, as PGRs played a vital role in shaping the quality and appearance of ornamental and specialty crops.

Plant Growth Regulators Market Segmentation

The global Plant Growth Regulators Market segmentation is based on type, crop type, and geography.

Plant Growth Regulators Market By Type

• Auxins
• Absicisic Acid
• Cytokinins
• Gibberellins
• Ethylene

In terms of types, the cytokinins segment accounted for the largest market share in 2022. Cytokinins are a class of plant hormones that play a crucial role in stimulating cell division and promoting shoot development. This particular segment was gaining traction due to its diverse applications in agriculture and horticulture. In agriculture, cytokinins were being increasingly utilized to boost crop yield and improve the quality of various crops, including cereals, oilseeds, and fruits. Their ability to enhance the development of lateral shoots and increase the number of tillers in cereal crops made them valuable in increasing overall plant productivity. Additionally, in horticulture, cytokinins were used to promote branching, increase flower formation, and improve the post-harvest life of cut flowers. These applications were driving the growth of the cytokinins segment in the PGRs market.

Plant Growth Regulators Market By Crop Type

• Cereals
• Turf and Ornamentals
• Fruits and Vegetables
• Oilseeds and Pulses
• Others

According to the plant growth regulators market forecast, the fruits and vegetables segment is expected to witness significant growth in the coming years. This growth was primarily driven by the increasing demand for high-quality and nutritionally rich produce, coupled with the need to optimize crop yields and improve overall crop health in the horticultural sector. Fruits and vegetables are highly perishable commodities, and growers face numerous challenges in ensuring their quality and marketability. PGRs play a pivotal role in addressing these challenges by enhancing fruit set, promoting uniform ripening, and extending the shelf life of harvested produce. For example, the use of PGRs like ethylene inhibitors can slow down the ripening process of certain fruits, allowing them to be transported over longer distances without spoilage. In addition, the application of PGRs can help increase fruit size and improve color development, making fruits and vegetables more appealing to consumers.

Plant Growth Regulators Market Regional Outlook