According to a new report published by
Transparency Market Research "Plant Growth Regulators (Cytokinins, Auxins
and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2013 - 2019," the global demand for plant growth regulators was
valued at USD 3,360.0 million in 2012 and is expected to reach USD 5,936.2
million in 2019, growing at a CAGR of 8.5 % from 2013 to 2019.
Browse Global Plant Growth
RegulatorsMarket Report with Full TOC at
Factors such as increasing demand for plant growth
regulators for manufacturing cotton with the growth of the textile industry,
and increasing organic farming owing to augmenting demand for organic food is
expected to fuel the demand for the plant growth regulators over the forecast
period. Increasing globalization coupled with the demand for growing
profitability has in many aspects, forced the agrochemical industry into major
restructuring, where companies are focusing towards developing innovative and
less threatening crop protection products such as plant growth regulators.
Rising preference of farmers towards other agrochemicals such as fertilizers is
expected to hamper the growth of the market. Focus towards developing cost
effective and eco-friendly plant growth regulators is expected to provide new
opportunities for the market.
In 2012, cytokinins accounted for over 40% of the
market share. Cytokinins are also expected to witness the fastest growth over
the forecast period as demand for these plant hormones has been the highest due
to increasing demand for medicinal plants with the growth of the herbal
medicine industry. Auxins were the second largest product segment in the PGR
industry owing to their ability to enhance the growth characteristics and
productivity of many plants such as cotton. Demand for other plant hormones
such as mepiquat chloride and gibberellins in cotton are also expected to
increase noticeably with the growth of the textile industry.
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Demand for plant growth regulators was highest in
Europe due to the growing consumer demand for organic food and major shift of
agriculturists towards eco-friendly and cost effective agrochemical products.
Demand for plant growth regulators in Asia Pacific is expected to witness the
fastest growth, growing at a CAGR of 9.2% from 2013 to 2019. Emerging economies
in Asia Pacific such as China and India are anticipated to dominate the market
owing to the large demand for plant hormones in cotton production for its use
in textile industry.
The report gives a comprehensive view of the plant
growth regulator market in terms of revenue. In addition, the report includes
current demand analysis and forecast for each product in North America, Europe,
Asia Pacific and Rest of the World. The report comprises of the following
segment:
Plant
Growth Regulator Market: Product Segment Analysis
·
Cytokinins
·
Auxins
·
Others
(Mepiquate chloride, gibberellins, etc.)
Plant
Growth Regulator Market: Regional Analysis
·
North
America
·
Europe
·
Asia-Pacific
·
Rest
of the World (Latin America, Africa and Middle East)
Browse all Chemical
& Materials Market Research Reports @ http://www.transparencymarketresearch.com/chemical-market-reports-2.html
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