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Plant Growth Regulator Market Surpasses US$ 5.4 bn by 2026

The global plant growth regulator market size is poised to hit around USD 5.4 billion by 2026 and will grow at a CAGR above 4.2 % over the forecast time frame.

LOS ANGELES, June 06, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Plant Growth Regulators Market (By Hormone Type: Cytokinin, Auxin, Ethylene, Gibberellin, Abscisic Acid, Others; By Function: Promoters, Inhibitors; By Crop Type: Cereals & Grains, Fruit & Vegetables, Oilseed & Pulses, Turf & Ornamentals; By Formulation: Solutions, Soluble Powder, Wettable powder, Water Dispersible, Tablets) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.

Plant growth regulators are valuable tools for manufacturing which improve product quality and marketability while reducing picking, pruning and maintenance work. They have become an integral part of a large number of horticulture and agricultural production systems during the last few decades.

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The market's structure of the value chain is strongly influenced by economic and environmental factors, product nature, upstream supplies of raw materials and downstream structure. The final products are distributed online and physically throughout the world.

As a result of its ability to reduce cereal production, control shoots and stimulate latex flow in rubbers, demand for plant growth controls has increased. The demand has increased. These factors are the cause of growth of plants and make the process of production faster than conventional fertilizers, which will have a positive impact on the growth of markets over the next few years.

Diverse organisations in the global market for plant growth adopt multiple strategies to expand their operations, including product launching, procurement and fusion, and agreement and collaboration. These strategies aim to provide end users with adequate product information and achieve strong product performance. It endorses the regulation on market standards that leads to better satisfaction for customers.

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Cytokinins are the dominant segment of the world market of plant growth regulators. The forecast for this segment is maximum growth. This can be the result of the compound's vast application, which makes cell division, delaying senescence and breaking sleep essential. It also applies to various plants as a growth stimulant. In addition, Cytokinins can treat most plants worldwide.

In this forecast period, Asia Pacific is the dominant region in the global market of plant growth regulators. This is because Asia Pacific knows the agricultural policies for farmers and other farmers in the region and the agricultural policies of the government. As the agriculture-dependent economies of many Asia-Pacific countries are expected to increase the demand for plant growth to regulate the product in the near future.

Drivers

The increased demand for organically produced products in the forecast period is expected to raise demand for plant growth regulators. This will have a positive impact on the world market of regulators for plant growth. Today, many pharmaceutical companies are investing enormously in seed drug research and development to meet the growing needs of herbal medicines. Producers are interested in the development of disease-specific plant growth regulators as technology progresses in the field of medicines and biotechnology. Edible vaccines will influence the growth of the global plant growth regulator market in the forecast period.

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Restraints

There is no easy way to success. This also applies to the global market for plant growth regulators. However, due to strict regulatory approvals policies in place for the creation of regulators for plant growth, the market is showing a remarkable growth in the forecast tenure. However, with technological advances, researchers work hard to develop techniques for producing regulators for the growth of organic plants. This will contribute to overcoming the biggest bottleneck in the global plant growth control market and the growth projected.

Key Players & Strategies

CropScience Australasia Pty, BASF SE, Redox Industries Limited., DuPont, Sichuan Guoguang Agrochemical Co. Ltd, NuFarm Ltd., and Xinyi(H.K.) Ltd is some of the leading market companies.

These players operate their businesses via a global and manufacturing network mainly located in Europe and Asia-Pacific. The leading market actors for DuPont, BASF SE, and Bayer Ag are based on their global presence, revenue, and the number of employees.

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