Plant Growth Regulators Market Expected To Witness 8 Percent CAGR During The Forecast Phase

Plant growth regulators, also called plant hormones are certain chemicals. They are found in low quantities and enable the plant to grow. They do so by augmenting the accessibility or supply of principal nutrients to the plant. Different growth regulators of plants are used in specific pharmaceutical and farming applications. The worldwide plant growth regulators market is segmented on the basis of geographical regions and products. Europe, North America, Asia Pacific and rest of the world are the four regions of this worldwide market. Auxins, cytokinins and others are the various products on the basis of which the market is segmented.

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The worldwide demand for the plant growth regulators market was projected at about USD 3, 360 million in 2012. The market is predicted to rise through the forecast phase, at about 8 percent CAGR. The phase lasts from 2013 to 2019. The end of the phase is likely to see revenue worth about USD 5, 936 million. Boost in the requirement for plant growth regulators for making cotton is estimated to increase the demand for the plant growth regulators market. Also, growing organic cultivation due to increasing demand for organic food increases the demand for this market over the forecast phase. Increased inclination of farmers towards other chemicals used in agriculture is estimated to slow down the plant growth regulators market. Attempts at coming up with environment friendly and reasonably priced plant growth regulators are anticipated to offer new prospects to the market. Cytokinins made up for more than 40 percent of the share. They are predicted to experience most swift development through the forecast period. Auxins were the second biggest product in the plant growth regulators market. Europe dominated the worldwide market in terms of demand. The plant growth regulators market of Asia Pacific is estimated to undergo swift development during the forecast period. Plant Growth Regulators Market Source: Grand View Research