Albany, New York, Nov. 28, 2018 (GLOBE NEWSWIRE) -- The plant growth regulators market is expected to exhibit a steady growth over the coming years, as reported by Transparency Market Research. The global market’s competitive ecosystem features a few handful of players that are currently dominating the industry. Nonetheless, the market vendors are exuding intense rivalry among themselves. The stiff competition is leading market players to focus on improving their product quality, cost efficiency, and manufacturing facilities, in order to satiate consumer demand. A key strategy adopted by players in the global plant growth regulators market is widening their geographical presence through efficient distribution channels. Vendors are also seen focusing on expanding their production capacities and shifting base to developing economies such as the Asia Pacific.
Some of the prominent players seen holding a sway over the global plant growth regulators market are WinField Solutions, BASF SE, Dow Chemical Company, Bayer Cropscience, and Valent Bioscience Corporation.
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According to TMR analysts, the global market for plant growth regulators is anticipated to generate a revenue of over US$3,000 mn over the forecast period of 2017 to 2026.
On the basis of the type of hormone, the segment of cytokinins is currently generating the highest revenue in the global plant growth regulators market. The popularity of this segment could be attributed to the surge in the utilization of phytohormones in plant cell division processes.
Geography-wise, the European market is expected to remain dominant, due to exhaustive land usage for organic farming across the region.
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High Demand for Eco-Friendly Agri Solutions to Propel Market
Plant growth regulators market is relied upon to develop consistently amid the gauge time frame because of rising tendency of ranchers towards agrochemicals to build edit security and give better product nourishment. Developing natural cultivating pattern driven by expanded demand for organic products over the globe is activating the global plant growth regulators market. In addition, expanding reception of biopesticides and rising inclination towards condition well-disposed plant growth regulators and better horticulture practices are foreseen to additionally support demand for plant growth regulators over the globe.
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Moreover, expanding accentuation on economical yet successful methodologies supporting focused on arrival of dynamic mixes into the plant species is foreseen to fuel growth in the global plant growth regulators market in the coming years. Higher benefit at lower cost is cultivating the appropriation of plant growth regulators by agriculturists at a more extensive scale is expected to fuel the global plant growth regulators market over the imminent years.
Improved Crop Yield to Enhance Growth Opportunities
The demand for plant growth regulators has been expanding because of its capacity to decrease holding up in concentrated oat creation, control the shoot statures, and animate latex stream in elastic plants. In addition, it is likewise used to improve sugarcane yield as it expands the cell length and also the rate of cell division, along these lines bringing about higher sugar yield. These elements trigger plant growth and make the production procedure quicker contrasted with conventional composts, which is predicted to have a positive effect on market growth over the coming years.
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Constrained awareness about the use of plant growth regulators among the majority could prevent the growth of the market to some degree. Appropriate direction to agriculturists in the field could significantly support opportunity in the plant growth regulator market in the coming years.
This review is based on TMR’s report titled, “Plant Growth Regulators Market (Hormone Type - Cytokinins, Auxins, Gibberellins, and Ethylene; Crop Type - Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, and Turf & Ornamentals; Formulation - Water-Dispersible & Water-Soluble Granules, Wettable Powders, and Solutions; Function - Plant Growth Promoters, and Plant Growth Inhibitors) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2026.”Top of Form
Global Plant Growth Regulator Market, by Hormone
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- Cytokinins
- Auxins
- Gibberellines
- Ethylene
- Others
Global Plant Growth Regulator Market, by Crop
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- Fruits and Vegetables
- Cereals and Grains
- Oilseeds and Pulses
- Turfs and Ornamentals
Global Plant Growth Regulator Market, by Region
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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