Market Scope
Market
Research Future (MRFR) projects strong growth prospects for the North
America Plant Growth Regulators Market Overview 2023 and 2032
(assessment period). We will provide COVID-19 impact analysis with the report,
along with all the extensive key developments in the market post the
coronavirus disease outbreak.
Competitors Analysis
Tata Chemicals Ltd.
(India),
FMC Corporation (US),
Bayer AG (Germany),
NIPPON SODA CO., LTD.
(Japan),
Nufarm Limited
(Australia),
Platform Specialty
Products Corporation (US),
China National
Chemical Agrochemical Corporation (China),
Xiny(H.K.) Industrial
Co., Ltd. (China),
Sumitomo Chemical Co.,
Ltd. (Japan),
BASF SE (Germany),
DowDuPont (US), are
some of the most renowned North America Plant Growth Regulators Market Players
Growth Boosters and Deterrents
The COVID-19
outbreak has led to disruptions in the manufacturing of agrochemicals, with
respect to availability of raw materials. The ongoing novel coronavirus
pandemic and the worldwide lockdown have had a domino effect on crop yields and
food productivity, especially in countries that are primarily agrarian.
However, with the rising cases of SARS-CoV-2, governments across the globe are
easing restrictions on the production of fertilizers to ensure continued
agricultural activities in a bid to bring down the concerns with regard to food
security. This has been particularly favorable for the North America Plant
Growth Regulators Market and can mean uninterrupted growth in the years
ahead.
In the past
few decades, plant growth regulators have emerged as a crucial aspect of
agricultural and horticulture production systems. The rising preference
for organic food and the reducing agricultural areas across the world has
bolstered the demand for these regulators. Spraying of growth regulators on
eggplant, tomatoes, cucumber, pepper, pumpkin and melon in varying
concentrations helps boost fruit growth as well as production. These regulators
also help foster sugarcane yield, since they boost the cell length along with
the rate of cell division, leading to higher sugar yield. These efficient
use-cases of plant growth regulators can result in an expanded application
scope in the agriculture industry during the appraisal period.
Segmental Analysis
The plant
growth regulators market has been segmented with respect to origin, crop type,
product type, form, function and mode of application.
·
Origin-wise,
the North
America Plant Growth Regulators Market Report caters to natural as well
as synthetic.
·
The primary crop types mentioned in the report are grains & cereals, pulses &
oilseeds, turf & ornaments, fruits & vegetables, and more.
·
Depending on product type, the global market can be considered for abscisic acid, gibberellins,
auxins, cytokinins, ethylene, and others.
·
The various forms of plant growth regulators include powder, liquid and granules.
·
In terms of function, the market has been dissected into plant growth promoters along with
plant growth inhibitors.
·
Applications outlined in the market study are foliar, fertigation, and others.
Regional Outlook
The plant
growth regulators industry can be regionally distributed into Europe, North America,
Asia Pacific/APAC, and RoW/the rest of the world.
APAC’s
growth in the coming years is expected to be at the fastest rate, since the
region is inundated with numerous vendors with rich expertise along with the
surge in agricultural exports. The continuous reduction in agricultural lands
has emerged as a key concern owing to the relentlessly expanding population and
the simultaneous rise in food demand. The rising uptake of advanced
technologies as well as methodologies in the agriculture sector, with the
growing support of the government, is also slated to work in the APAC market’s
favor over the following years.
Europe can
potentially take the lead in the global market, thanks to the mounting demand
for organic and natural food products among consumers. The increasing crop
production combined with the rise in government initiatives favoring the
region’s agriculture sector can also induce market growth in the next few
years. The substantial demand for vegetables and fruits in the region and the
unfavorable weather conditions across the region can bolster the use of plant
growth regulators, with the aim to enhance the agricultural yield.
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