The Plant Growth Regulators Market is projected to reach USD 22.52 Billion by 2032 at 10.0% CAGR during the forecast period 2023-2032. Plant growth regulators are chemical compounds that help in modifying physiological processes of plants. These growth regulators profoundly influence the growth and differentiation of plant cells, tissues, and organs. With the increasing growth of the agriculture industry, the demand for plant growth regulators has also been escalating. Plant growth regulators are applied to plants to produce the desired effect, identical to hormones.
There are five major groups of plant growth regulators, namely, Auxin or Indole Acetic Acid (IAA), Cytokinin, Gibberellin or Gibberellic Acid (GA), ethylene, and abscisic acid. In considering the type of plant growth regulator, Cytokinin accounts for the major market share which is further followed by the Gibberellins in the North American plant growth regulators market. The cytokinins are used to produce cell division and retard senescence in plants. The cytokinins in combination with auxin lead to the production of undifferentiated cell masses called calluses. The gibberellins are required for seed germination and sex expression.
Plant growth regulators are not designed only to foster faster growth. Some are designed to slow down the growth of plants and keep them young for easier transportation and transplantation.
This market is expected to have enormous opportunities in the upcoming years as new developments for effective farming is on the rise.
Notably, rising research funding in agriculture is the key factor driving the North American plant growth regulators market. It has been observed that the U.S. private sector funding in food and agricultural R&D has risen over the last decade, surpassing the public-sector funding. Whereas, falling public sector funding for agricultural R&D and greater spending by some other nations have diminished the U.S. share in public agricultural R&D worldwide. According to the United States Department of Agriculture, the U.S. was leading with 20 to 23% of the global total between 1990 and 2006, among major countries with substantial investments in R&D for agriculture. However, by 2013, this share had fallen to 13%, but the U.S. remains the top producer of R&D outputs by several measures. It is also reported that out of total expenditure, i.e., USD 16.3 billion, on food and agricultural R&D in 2013, funding from the federal government was around USD 2.8 billion, i.e., 17.2%. Whereas, the states accounted for USD 1.0 billion, i.e., 6.1%.
April 2024:
WinField United has created a programme it refers to the WinField United BioVerified designation.
"By emphasizing biological products we have carefully vetted based on four key criteria, the WinField United BioVerified designation helps retailers identify potential product recommendations," the firm claims. "This designation was developed to give you a clearer reference point when choosing and recommending biologicals."
Four elements are part of those requirements: Differentiation from other items available.
Considerations of agronomy include performance, positioning, and recognizable manner of action.
Operational compatibility with goods, inventories, and common application techniques.
For farmers and merchants, economic reward.
"By emphasizing biological products we have carefully vetted, the WinField United BioVerified designation helps simplify the biological category," Carr said. “This classification was made to provide you with a more precise point of reference when choosing biologicals.
"WinField United BioVerified is not limited to WinField United products," Carr adds. Indeed, we evaluate our own products, and a few of them—like Ascend2 plant growth regulator—make the list. The emphasis is not on showcasing our own goods, however. Looking across the market as a distributor, we want to be a reliable and open source.
According to the corporation, investment and innovation have expanded over a wide spectrum of biological categories throughout the whole agricultural supply chain. Retailers wishing to back up their biological suggestions to grower clients are intended for this category.
Products listed as United BioVerified are those that have been approved biologically. "Biologicals are chosen for review from the WinField United product list according to their potential within their sub-categories," the business states. To facilitate the identification of prompt, open suggestions, the best rated goods are designated as WinField United BioVerified.
The firm states that "any product we stand behind must have data to prove it works and brings value to the field." "This may imply that we have examined it in-house using our Answer Plot system or that we have used the same methodology and rigor to a large dataset from a third-party vendor as we do for our core research.
Various other push factors such as increasing awareness of plant growth regulators among consumers, technological advancement, rising practice of organic farming, growing demand for herbal medicine, increasing government assistance, and amendments in the regulatory framework, are continuously contributing to the growth of the North American plant growth regulators market.
Despite these drivers, there are some issues associated with the North American plant growth regulators market. Misuse of technology, stringent regulations pertaining to pesticides, and risk associated with products, may hamper the market growth.
Intended Audience
The North America plant growth regulators market is segmented on the basis of origin, crop type, type of plant growth regulator, formulation, and function.
On the basis of origin, the market is segmented into biological and synthetic.
On the basis of crop type, the market is classified into pulses and oilseeds, grains and cereals, fruits and vegetables, turf and ornamentals, and others.
On the basis of type of plant growth regulator, the market is classified as auxins, cytokinins, gibberellins, ethylene, and abscisic acid.
On the basis of formulation, the market is classified as water-dispersible and water-soluble granules, solutions, and wettable powders.
On the basis of function, the market is segmented into plant growth promoters and plant growth inhibitors.
On a regional basis, the North American plant growth regulators market is segmented into two major regions, namely, the U.S. and Canada. The U.S. holds a major share of the North American plant growth regulators market owing to the well-established healthcare system, increasing agriculture expenditure, and favoring funding and reimbursement policies. According to the statistics suggested by the United States Department of Agriculture, the farm production expenditures in the United States was USD 346.9 billion in 2016. It is also reported that the United States total farm expenditure average per farm was USD 169,035.
Key Players
Some of the key the players in the North American plant growth regulators market are
| Report Attribute/Metric | Details |
| Â Â Market Size | Â Â USD 22.52 Billion |
| Â Â CAGR | Â Â 10.0% (2023-2032) |
| Â Â Base Year | Â Â 2022 |
| Â Â Forecast Period | Â Â 2023-2032 |
| Â Â Historical Data | Â Â 2021 |
| Â Â Forecast Units | Â Â Value (USD Billion) |
| Â Â Report Coverage | Â Â Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Â Â origin, crop type, type of plant growth regulator, formulation, and function. |
| Â Â Geographies Covered | North America |
| Â Â Key Vendors | ADAMA (Israel), Arysta LifeScience (France), BASF (Germany), Bayer CropScience (Germany), Dow Chemical (US), Nippon Soda (Japan), Nufarm (Australia), Sumitomo Chemical (Japan), Syngenta (Switzerland), FMC Corporation (US), Tata Chemicals (India), Valent Biosciences (US), WinField Solutions (US), Xinyi Industrial (China), and others. |
| Â Â Key Market Opportunities | Increasing adoption of organic farming practices driving demand for bio-based plant growth regulators.Top of Form |
| Â Â Key Market Drivers | Rising adoption of sustainable agricultural practices to mitigate environmental impact. |
North America Plant Growth Regulators Market Highlights:
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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