Various organizations are adopting multiple strategies in order to expand their operations in global plant growth regulator market. Some strategies include product launches, acquisition and mergers, and agreement and collaborations. These strategies aim to offer sufficient product information to end-users and yield in strong performance of the products. It supports the regulation set up for market standards resulting in better customer satisfaction.
In terms of revenue, the global plant regulators market is projected to show substantial growth in the forecast period of 2018 to 2026. The market is expected to touch the milestone of US$5.5 billion during this forecast period.
The segment that dominates the global plant growth regulator market is Cytokinins. This segment is predicted to show maximum growth amongst others. This can be the result of the vast application of the compound making it essential for cell division, delay in senescence, and dormancy breaking. It is also applicable as a growth stimulant for various plants. Moreover, majority of the plants can be treated with Cytokinins across the globe.
In terms of application, the fruits and vegetable segment is likely to dominate the global plant growth regulators market over the forecast period. Also, is expected to grow with remarkable CAGR from 2018 to 2026. This can be attributed to the fact that plant growth regulators are organic and are best suited for growing fruits and vegetable plants.
What are the Driving Factors for the Growth of the Global Plant Growth Regulator Market?
The hiked up demands of organically produced goods is projected to elevate the demand for plant growth regulators in the forecast period. This, as a result, shall impact positively on global plant growth regulators market. Presently, multiple pharmaceutical companies are investing a huge amount on research and development for medicines derived from plants in order to meet the growing requirement of herbal medicines. As technology advances in the field of medicines and biotechnology, producers are keen to develop disease-specific plant growth regulators. Introduction of edible vaccines in the forecast period shall influence the growth of the global plant growth regulators market.
What Hinders the Growth of Plant Growth Regulators Market?
No road to success is easy. This holds true even for global plant growth regulators market. Although, the market shows a remarkable growth in the forecast tenure, owing to stringent regulatory policies for approval for developing plant growth regulators is hampering the growth of global plant growth regulators market. However, with the advancements in technology, the researchers are working hard to come up with techniques to produce organic plant growth regulators. This shall help the global plant growth regulator market to overcome its biggest bottleneck and experience the projected growth.
The companies profiled in the study includes BASF SE, Syngenta AG, Dow Chemical Company, Bayer Cropscience, FMC Corporation, Nufarm Limited, Valent Bioscience Corporation, WinField Solutions, Xinyi Industrial Co., Ltd., TATA Chemicals, Adama Agricultural Solutions Ltd, Nippon Soda Co. Ltd, Sumitomo Chemical Co. Ltd, Arysta LifeScience Corporation, and Redox Industries Limited.
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