The global plant growth regulators market size is projected
to reach USD 6.52 billion by 2020, according to a new report by Grand View
Research, Inc., rising at a CAGR of 8.6% during the forecast period. Increasing
global population and decreasing cultivation area are anticipated to drive
market growth over the coming years.
Demand for the product is likely to increase
on account of decreasing area of productive land, growing urbanization, and
rising global population Declining agricultural yield due to climatic changes
coupled with increasing consumer preference for organic food products is
expected to positively affect the growth of the market.
The area of agricultural land available in
developed countries has been decreasing rapidly, which is likely to affect food
security in the long term. The main reasons behind loss of agricultural land
are the use of agricultural land for non-agricultural applications, abandonment
of agricultural activities, and use for other agro-forest activities.
High penetration of plant growth regulators in
the agriculture industry of various countries including U.S., China, India, and
Brazil is likely to augment the market. Flourishing organic vegetable &
fruit industry, increasing fruit & seed production, and rapid expansion of
the beer industry are anticipated to escalate the growth of the plant growth
regulators market.
For full research report on Plant
Growth Regulators Market visit here: https://www.grandviewresearch.com/industry-analysis/plant-growth-regulators-market
Further Key
Findings from the Report Suggest:
- The cytokinins segment is expected to rise at
a CAGR of 9.0% during the forecast period owning to their ability to delay
aging process of the plant
- Auxins are projected to exhibit a CAGR of 8.8%
over the same period due to increasing use in cultivation of organic food
to regulate the growth process
- The others segment is anticipated to observe a
CAGR of 8.2% from 2014 to 2020 owning to surging demand for gibberellin in
the agriculture and brewing industries.
- Asia Pacific is likely to witness a CAGR of
9.3% during the same period due to decreasing cultivation area and rising
population in emerging economies such as India and China
- Europe accounted for a large share in the
market in 2014 and it is estimated to witness a CAGR of 8.5% over the
forecast period owning to rising demand form the U.K. and Germany to
increase its agriculture production
- Market players are engaged in developing
application specific products in order to increase their market scope.
Manufacturers such as Xinyi (H.K.) Industrial Co. Ltd. have their own
research & development center.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/plant-growth-regulators-market/request/rs1
Grand
View Research has segmented the global plant growth regulators market report on
the basis of product and region:
Plant Growth
Regulators Product Outlook (Revenue, USD Million, 2012 - 2020)
- Cytokinins
- Auxins
- Others
Plant Growth
Regulators Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- Rest of The World
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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