Plant Growth Regulators Market Size, Share & Trends Analysis Report By Type (Auxins, Cytokinins, Gibberellins, Ethylene, Others), By Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Others), By Function (Plant Growth Promoters, Plant Growth Inhibitors) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Plant Growth Regulators Market Size

The global plant growth regulators market size was valued at USD 3.19 billion in 2023. It is estimated to reach USD 5.76 billion by 2032, growing at a CAGR of 6.8% during the forecast period (2024–2032). The plant growth regulators (PGR) market is poised for significant growth, driven by a confluence of factors that cater to the evolving needs of modern agriculture and horticulture. As global agricultural practices shift towards sustainable and precision farming, the demand for PGRs is expected to rise sharply.

Plant Growth Regulators (PGRs) are natural or synthetic compounds that influence the growth and development of plants. They play a critical role in regulating various physiological processes such as cell division, elongation, flowering, fruiting, and senescence. PGRs are categorized into five main groups: auxins, gibberellins, cytokinins, ethylene, and abscisic acid. Each type has specific functions; for instance, auxins promote root growth, while gibberellins stimulate stem elongation.

PGRs are widely used in agriculture and horticulture to enhance crop yield, improve plant health, and control plant size. They are applied in small amounts, making them highly effective in achieving desired growth patterns and improving stress resistance. PGRs are essential tools for modern farming, contributing to increased productivity and sustainable agricultural practices.

Highlights 

• Cytokinins dominate the type segment

Plant Growth Regulators Market Trends

Shift Towards Sustainable and Organic Farming Practices

One of the most prominent market trends in the plant growth regulators market is the increasing shift towards sustainable and organic farming practices. With the surging awareness of environmental sustainability and the negative impacts of synthetic chemicals on both crops and soil, there has been a notable surge in the demand for natural and eco-friendly plant growth regulators. This shift is particularly evident in Europe and North America, where consumers are increasingly favoring organic produce.

As a result, farmers and agricultural companies are investing more in plant growth regulators that are derived from natural sources, like seaweed extracts and microbial fermentation processes. This market trend is expected to continue as regulatory bodies impose stricter guidelines on the use of synthetic chemicals, further boosting the market size of natural plant growth regulators. Moreover, the adoption of sustainable agriculture practices is anticipated to drive market growth, as it aligns with global efforts to promote environmentally friendly and health-conscious farming methods.

Plant Growth Regulators Market Growth Factors

Rising Demand for Food Production

One of the primary drivers of the global plant growth regulators market is the increasing demand for food production to cater to the growing global population. According to the United Nations, the world population is expected to reach 9.7 billion by 2050, necessitating a 70% increase in food production. This scenario has led to the adoption of advanced agricultural practices, including the use of plant growth regulators to enhance crop yield and quality.

These regulators play a crucial role in managing plant growth and development, ensuring optimal crop performance even under challenging environmental conditions. The market growth is further supported by government initiatives aimed at achieving food security, particularly in developing regions, where agriculture remains a key economic driver. As a result, the demand for plant growth regulators is expected to rise, contributing to the overall market size expansion.

Plant Growth Regulators Market Restraint

Regulatory Challenges

Despite the positive market growth outlook, the global plant growth regulators market face certain restraints, with stringent regulatory frameworks being a key challenge. Regulatory bodies in various regions, particularly in Europe and North America, have imposed strict guidelines on the use of synthetic plant growth regulators due to concerns over their environmental and health impacts.

These regulations often require extensive testing and approval processes, which can delay the introduction of new products into the market and increase compliance costs for manufacturers. Additionally, the growing preference for organic and natural products has led to a decline in the demand for synthetic plant growth regulators, further constraining the market size. Companies operating in this market must navigate these regulatory challenges while investing in research and development to create safer and more sustainable alternatives.

Plant Growth Regulators Market Opportunities

Technological Advancements in Agriculture

Technological advancements in agriculture, particularly in the development and application of plant growth regulators, are estimated to create opportunities for market growth. The integration of precision farming techniques, such as drone-based crop monitoring and automated irrigation systems, has enabled farmers to apply plant growth regulators more efficiently and accurately. This precision application reduces waste, lowers costs, and enhances crop productivity.

Moreover, advancements in biotechnology have led to the development of more effective and targeted plant growth regulators, which can be tailored to specific crops and environmental conditions. These innovations are expected to significantly contribute to the market size as farmers increasingly adopt these advanced products to improve their agricultural practices and achieve higher yields.

Plant Growth Regulators Market Regional Analysis

Based on region, the global plant growth regulators market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

The North American plant growth regulators market is a significant segment driven by the region's advanced agricultural practices, technological innovations, and the growing demand for organic produce. The region's agriculture industry is characterized by large-scale farming operations, high adoption rates of advanced farming technologies, and a strong focus on maximizing crop yield and quality. Moreover, the increasing awareness of sustainable farming practices and the rising consumer demand for organic products have propelled the adoption of plant growth regulators across the region. As a result, North America is expected to witness steady market growth over the forecast period.

The United States dominates the North American plant growth regulators market. The country's agricultural sector is highly developed, with a strong emphasis on enhancing crop productivity through the use of advanced technologies, including plant growth regulators. The U.S. Department of Agriculture (USDA) has been instrumental in promoting the use of such technologies to increase food production and ensure food security.

Additionally, the growing trend of organic farming in the U.S. has significantly boosted the demand for natural plant growth regulators. In 2022, the organic food market in the U.S. reached a value of USD 58.2 billion, reflecting a growing consumer preference for organic produce. This shift is expected to drive further growth in the plant growth regulators market as farmers increasingly adopt organic farming practices to meet consumer demands and comply with stringent regulatory standards.

The Asia-Pacific region is a significant contributor to the global plant growth regulators market, driven by its vast agricultural base, increasing population, and the adoption of advanced farming techniques. Countries like China, India, Japan, and Australia are leading the charge in the utilization of plant growth regulators to enhance crop yield and quality. Additionally, the region's agricultural sector is undergoing rapid transformation, with a growing emphasis on sustainable farming practices and food security. According to the World Bank, agriculture accounts for around 10% of the GDP in developing countries within the Asia-Pacific, highlighting the importance of this sector to the region's economy. Furthermore, the increasing focus on improving agricultural productivity to meet the rising food demand is fueling market growth in this region.

China, the Asia-Pacific region's largest agricultural producer, plays a crucial role in driving the demand for plant growth regulators. The country's agricultural sector contributes approximately 7% to its GDP, according to the National Bureau of Statistics of China. With a population exceeding 1.4 billion, China faces immense pressure to ensure food security, leading to the widespread adoption of advanced agricultural inputs, including plant growth regulators.

The Chinese government has implemented several initiatives to boost agricultural productivity, such as the "No. 1 Central Document," which focuses on modernizing agriculture through technological advancements. Additionally, the increasing shift towards organic farming in China, driven by rising consumer awareness of health and environmental sustainability, further propels the demand for natural plant growth regulators.

Plant Growth Regulators Market Segmental Analysis

The global plant growth regulators market is segmented by type, crop type, and function.

Based on type, the global plant growth regulators market is divided into auxins, cytokinins, gibberellins, ethylene, and others.

The cytokinins segment is estimated to own the market over the forecast period. The cytokinins segment in the global plant growth regulators market is poised for steady growth, driven by their critical role in promoting cell division, delaying leaf senescence, and enhancing nutrient mobilization in plants. Cytokinins are widely used in various crops, including cereals, grains, and fruits, to improve yield and quality.

Moreover, they are particularly effective in stimulating shoot growth and delaying aging in plants, making them essential for optimizing crop production. As the demand for high-yield and quality crops continues to rise, the use of cytokinins is expected to expand, particularly in regions focusing on advanced agricultural practices, contributing to the overall market growth.

Based on crop type, the global plant growth regulators market is divided into cereals & grains, fruits & vegetables, oilseeds & pulses, and others.

The cereals & grains segment holds a significant share in the global plant growth regulators market, driven by the high demand for staple crops such as wheat, rice, and maize. These crops are essential for global food security, particularly in developing regions with rapidly growing populations.

Plant growth regulators, including auxins, cytokinins, and gibberellins, are extensively used in cereals & grains to enhance yield, improve stress resistance, and ensure uniform crop growth. As agricultural practices become more advanced, the application of plant growth regulators in cereals & grains is expected to increase, contributing to the segment's expansion and supporting market growth.

Based on function, the global plant growth regulators market is bifurcated into plant growth promotors and plant growth inhibitors.

The plant growth inhibitors segment is a vital component of the global plant growth regulators market, focusing on substances that regulate and restrain plant growth processes. These inhibitors are commonly used in crops to prevent unwanted growth, manage plant size, and enhance the development of desirable plant parts, such as fruits and flowers.

Growth inhibitors like abscisic acid are particularly effective in stress management, helping crops to endure adverse environmental conditions such as drought. With the increasing focus on precision agriculture and the need to optimize crop production under varying climatic conditions, the demand for plant growth inhibitors is expected to rise, contributing to market growth.

Competitive Landscape

The key players in the global plant growth regulators market are Syngenta AG, BASF SE, Corteva Agriscience are focusing on expanding their product portfolios with innovative, eco-friendly solutions to meet the rising demand for sustainable agriculture. They are investing in research and development to create advanced natural plant growth regulators and are forming strategic partnerships to enhance their distribution networks globally. These companies are increasingly targeting the organic farming sector to capture a larger share of the growing market.

Emerging Companies in Plant Growth Regulators Market

BASF SE is one of the largest chemical companies in the world and a key player in the global plant growth regulators market. Headquartered in Ludwigshafen, Germany, BASF SE was founded in 1865 and has since grown into a global leader in the chemical industry, with a diverse portfolio that includes chemicals, performance products, agricultural solutions, and more. BASF SE's extensive global network, combined with its strong focus on sustainability and innovation, positions it as a key player in the plant growth regulators market.

Recent Developments at BASF SE

• BASF SE has focused on expanding its portfolio of plant growth regulators by introducing new products that cater to the growing demand for sustainable agriculture.
• To strengthen its market presence, BASF SE has engaged in strategic partnerships and collaborations with other agricultural companies, research institutions, and universities.
• The firm has also made significant strides in its sustainability initiatives, which are closely aligned with the market's shift towards environmentally friendly products.

• July 2024- The Indian Council of Agricultural Research (ICAR), Syngenta Founding India (SFI), and Syngenta India Pvt. Ltd. collaborated to tackle the urgent problem of climate change. They have done so by signing a Memorandum of Understanding (MoU) on the founding day of ICAR.
• July 2024- Syngenta Crop Protection, a prominent figure in agricultural advancement, and Ginkgo Bioworks (NYSE: DNA), a company focused on developing a cutting-edge platform for cell programming and biosecurity, launched a collaborative effort to expedite the introduction of a novel biological solution.

Analyst’s Perspective

As per our research analyst, the plant growth regulators market is on the cusp of significant expansion, propelled by the global push for sustainable agriculture, technological innovations, and rising demand in emerging markets. Companies that prioritize research and development, especially in bio-based PGRs, will gain a competitive edge.

As regulatory landscapes become more stringent, the ability to align with sustainability trends and meet compliance standards will be crucial. Overall, the market offers substantial opportunities for growth, especially for those who can innovate and adapt to the evolving agricultural landscape.