Global plant growth regulators
Market is expected to exceed USD 6 billion by 2020, according to a new study by
Grand View research, Inc. High allopathic medicine price is a key reason for
growing herbal medicines demand which is expected to positively impact plant
growth regulators market. Plant growth regulators are expected to witness
significant growth in demand owing to its use in cotton metabolism in light of
the growing cotton textile industry.
Cytokinins were the widest used
plant growth regulators with market revenue exceeding USD 1.25 billion in 2013
owing to extensive use in herbal medicines. Increasing concerns regarding
farmer profitability is expected to result in shift from conventional farming
to organic farming which will provide favorable market opportunities.
In depth research report on Plant Growth Regulators Market
Further key findings from the study suggest:
•
Auxins act as growth
stimulators in cotton metabolism which is expected to augment the product
segment market in cotton manufacturing. Auxins market revenue was close to USD
1.0 billion in 2013 with major demand from cotton textile industry in Asia
Pacific.
•
Europe was the largest regional
market in 2013 with revenue of USD 1.86 billion due to increased organic
farming activities in the region. Ample land available for organic farming is
expected to accelerate use of plant growth regulators in plant physiological
process modification.
•
Asia Pacific is expected to
witness fastest growth at an estimated CAGR of 9.3% from 2014 to 2020 owing to
improving cotton textile industry in the region. Large cotton industry in India
and China is expected to result in increased demand for growth regulators in
cotton metabolism. Indian government’s recent FDI policies have favored textile
industry in the country directly influencing plant growth regulators market.
•
Market has low consolidation
owing to presence of limited manufacturers globally. Key companies including
DuPont, BASF and Bayer CropScience cater to major markets of North America,
Europe and Asia Pacific. Concentrated market scenario in Europe and North
America indicate high demand, however it is expected that there would be a
shift in focus towards the emerging markets of Asia Pacific and Latin America
over the next six years.
Grand View Research has
segmented the global plant growth regulators market on the basis of product and
region:
Plant Growth Regulators Product Outlook (Revenue, USD
Million, 2012 - 2020)
•
Cytokinins
•
Auxins
•
Others (Gibberellins and
Mepiquat Chloride)
Plant Growth Regulators Regional Outlook (Revenue, USD
Million, 2012 - 2020)
•
North America
•
Europe
•
Asia Pacific
•
RoW
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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