According to the latest market research study by Technavio, the global PGRs market is expected to grow at a CAGR of close to 8% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global PGRs market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the type
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The top three revenue contributing type segments are discussed below:
Global cytokinins market: Cytokinin growth regulators are mainly used in the agriculture, biomedicine, food, pharmaceutical, and cosmetic industry. Cytokinins help in preventing the senescence of fruits, flowers, and leaves. They stop staining and yellowing of fruits and leaves. They are used in the agriculture industry to increase the yield and are profoundly used in the plant tissue culture for the mass production of plants.
“Rising demand for cytokinins in the textile, organic food, and agriculture industries is likely to drive the global cytokinins market during the forecast period. Further, the increasing use of herbal and natural products in the cosmetics and medicine industries is likely to fuel the market for cytokinin through 2021,” says Ajay Adikari, a lead analyst at Technavio for research on agrochemicals and fertilizers.
Global auxins market: Auxins are growth hormones for plants, which is mainly responsible for apical dominance and phototropism. These hormones also affect the abscission of fruits, leaves, and blooms. Auxins are commonly used in the tissue culture for plant propagation and control the growth of flowers, fruits, stem, and roots. They are widely used in plant tissue culture for the restoration of rare medicinal plants. Thus, the revival of the herbal medicine industry is expected to drive the global auxins market during the forecast period.
Global gibberellins market: Gibberellin is one of the key hormones for plants, which regulates the cell division and cell elongation in plants. Commercially gibberellins are used to enhance fruit production by delaying the senescence in fruits. These are mainly used to accelerate flower induction and plant growth. The increase in agricultural activities and rising demand for efficient crop production are likely to drive the market growth for gibberellins during the forecast period.
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The top vendors operating in the global PGRs market are:
- BASF
- DOW Chemical
- FMC
- Nufarm
- Syngenta
The other prominent vendors in the market include Bayer CropScience, Nippon Soda, Tata Chemicals, Valent BioSciences, and Xinyi (H.K.) Industrial.
A more detailed analysis is available in the Technavio market research report titled, ‘Global PGRs Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Grain and Cereal Crop Protection Market 2016-2020
- Global Agricultural Micronutrients Market 2016-2020
- Global Seed Treatment Market 2016-2020
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