San
Francisco, 29 April , Plant Growth
Regulators (PGRs) Market Size, Share & Trends Analysis Report By Product
(Cytokinins, Auxins), By Region (North America, Europe, Asia Pacific, RoW),
Vendor Landscape, And Segment Forecasts, 2012 - 2020
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 market.
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Research Report On Plant Growth Regulators (PGRs) Market Analysis:
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.
Browse More Reports Of This
Category By Grand View Research At: https://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
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
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Press Release of this Report: https://www.grandviewresearch.com/press-release/global-plant-growth-regulators-market
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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