Plant Hormones Market Share, Top Competitor, Regional Portfolio, and Forecast 2030
Plant Hormones Market Research Future Insights
The Global Plant Hormones Market is expected to grow at a
10.2% CAGR and is evaluated to be worth USD 4.97 Billion by the end of 2030.
Plant hormones are the chemicals applied to improve product
quality and marketability and help the farmers in various ways by reducing
labor work like pruning, pinching, and maintenance, and help in ripening, cell division,
elongation of root and shoot, and flowering. These plant hormones are highly
required in low concentrations which stimulate the propagation of plant
tissues. Auxins, Cytokinins, Ethylene, and Gibberellins are the most
commercially available plant hormones in the general market.
Rising demand for agricultural products like cereals and
pulses, fruits and vegetables, and other crops is a significant driving factor
in the plant
hormones market research. Growing demand for products related to crop
products leads to a rise in the demand for plant hormones.
The rising demand for cotton with the growth of the textile
industry growth and the rise of the organic farming industry is anticipated to
increase the growth of the market during the evaluation period. Ethylene is
used for enhancing flower production.
Spraying of the product on the flower of tomato, eggplant,
pepper, cucumber, melon, and pumpkin in varied concentrations promotes fruit
growth and increases production. Surging demand for organically produced goods is
braced to fuel the demand for plant growth regulators over the forthcoming
years.
Key Players
The Global Plant Hormones Market key players are BASF SE (Germany), Syngenta AG (Switzerland),
The Dow Chemical Company (U.S.), Nufarm Australia Ltd. (Israel), FMC
Corporation (U.S.), Bayer CropScience AG (Germany), Adama Agricultural
Solutions Ltd. (Israel), Tata Chemicals Ltd. (India), Shanghai Xinyi Industry
Co., Ltd. (China), Valent BioSciences Corporation (U.S.)
Market Segmentation
The global plant
hormones market research report is segmented based on the following;
By Type: Auxins, Cytokinins, Ethylene, Gibberellins, and
Others
By formulation: solutions, granules, wet powders, and
others.
by function: growth promoters and growth inhibitors
By Application: Fruits, Vegetables, Cereals, Pulses,
Oilseeds, Grains, and Others
Regional Analysis
The global plant hormones market is divided into five
regions: North America, Asia Pacific, Europe, Latin America, and the Middle
East and Africa.
Europe is holding the largest share of the market due to the
presence of emerging countries like the UK, Germany, and France, which include
a significant proportion of the cotton textile industry. In addition to that,
the promotion of demand for pulses, grains, and oilseeds in these regions is
predicted to accelerate the plant hormones market growth in this region during
the forecast period.
The high availability of cultivating land for organic
farming has increased the demand for plant hormones in Asia and the Pacific.
Also, the rising demand for fruits and vegetables with the rising population is
boosting the growth of the plant
hormones market share in this region. North America is also gripping the
largest market share in the year 2021 as valued at USD 17.44 billion for
organic fruits & vegetables. According to the Organic Trade Association
report, in 2021, in the US, organic food sales will be worth USD 40 billion and
account for 5% of total food sales.
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