Plant Growth Regulators Market

The plant growth regulators market is estimated at USD 3.3 billion in 2024 and is projected to reach USD 4.6 billion by 2029, at a CAGR of 7.2% from 2024 to 2029.

The plant growth regulators market is estimated at USD 3.3 billion in 2024 and is projected to reach USD 4.6 billion by 2029, at a CAGR of 7.2% from 2024 to 2029. The surge in demand for high-value crops is a primary catalyst behind the escalating need for plant growth regulators (PGRs) in agriculture. As the global population continues to rise, so does the pressure to produce more food on limited arable land. High-value crops like fruits, vegetables, and specialty crops require meticulous management to ensure optimal quality and yield. PGRs play a crucial role in regulating plant growth, enhancing fruit quality, and increasing yields, thereby becoming indispensable for modern agricultural practices. Moreover, advancements in precision agriculture technologies have facilitated the targeted application of PGRs, maximizing resource utilization and boosting crop productivity. For instance, in India, the demand for PGRs is fueled by the imperative to ensure food safety and security amidst the country's burgeoning population. Overall, the growing demand for high-value crops underscores the essential role of PGRs in meeting the challenges of sustainable food production in a resource-constrained world.

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BASF SE (Germany)

BASF SE Group operates globally with 234 production sites, including six Verbund sites, and relies on approximately 112,000 employees worldwide. Its operations encompass diverse segments such as Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. Offering a wide array of system solutions and services, BASF SE caters to industries ranging from chemicals, automotive, and building to agriculture, oil, plastics, electrical, electronics, furniture, and paper. Within its Agricultural Solutions division, BASF SE specializes in providing plant growth regulators. These products target the hormonal system of plants, adjusting the proportions of various plant hormones to facilitate advantageous growth. With a focus on enhancing crop health and yield, BASF SE's plant growth regulators business segment is involved in researching, developing, manufacturing, and marketing these products.

In August 2022, BASF SE launched a new production facility in Singapore, investing USD 38.04 million, aimed at providing farmers in the Asia Pacific region with cutting-edge crop protection solutions. This endeavor is expected to broaden BASF SE's consumer base for its agricultural offerings, including plant growth regulators, thereby facilitating business expansion in the region.

Corteva Agriscience (US)

Originally part of DowDuPont, Corteva Agriscience emerged as an independent entity following its spinoff, drawing from the esteemed legacies of Dow, DuPont, and Pioneer. Established in 2019, Corteva operates globally, spanning over 140 countries across North America, Latin America, Europe, Australia, Africa, and Asia Pacific. With a core commitment to agriculture and food provision, Corteva specializes in two primary product segments: seeds and crop protection. Its Seed division focuses on developing and delivering advanced germplasm and traits to enhance farm yields, while the Crop Protection segment addresses agricultural challenges by offering weed, insect, pest, and disease control solutions. Among its crop protection offerings are plant growth regulators, herbicides, and insecticides. Additionally, Corteva provides digital service solutions to support farmers in optimizing their agricultural practices.

In November 2022, Corteva Agriscience entered into a conclusive agreement to purchase Stoller, headquartered in Houston, a leading independent biologicals firm in the sector. This acquisition underscored Corteva's dedication to providing farmers with biological solutions that synergize with crop protection technologies, aiming to tackle worldwide issues such as food security and climate change. The strategic move positions Corteva to introduce pioneering crop protection products into the market.

Syngenta Group (Switzerland)

Syngenta Group, a leading player in the crop protection industry, operates globally with 150 subsidiaries and a rich legacy spanning over 250 years. With around 60,000 employees across 100 countries, the company is committed to advancing agriculture through science-driven innovations, aiming for increased productivity, food quality, and environmental sustainability. Embracing Regenerative Agriculture, Syngenta collaborates closely with farmers to enhance soil health, preserve natural resources, and promote biodiversity while enhancing farm profitability. Headquartered in Shanghai, China, with administrative offices in Switzerland, Syngenta Group comprises four main divisions: Syngenta Crop Protection, Syngenta Seeds, ADAMA, and Syngenta Group China. These divisions collectively offer state-of-the-art solutions to meet diverse customer needs worldwide. In its crop protection and ADAMA segments, Syngenta Group provides a range of plant growth regulators, including renowned brands such as MODDUS, BONZI, CULTAR, PALISADE, and TOPREX.

In December 2022, ADAMA, a subsidiary of Syngenta Group, revealed its acquisition of AgriNova New Zealand. AgriNova specialized in developing, producing, and marketing crop protection solutions, including plant growth regulators and other products, primarily targeting the horticultural sector. This strategic move aimed to enhance ADAMA's presence in New Zealand and facilitate its diversification into related areas such as biologicals, plant nutrition, and additional plant growth regulators.

Related Reports:

Plant Growth Regulators Market by Type (Auxins, Cytokinins, Gibberellins, And Ethylene), Function (Plant Growth Promoters, And Plant Growth Inhibitors), Crop Type (Cereals, Oilseeds Fruits, Turfs), Formulation and Region - Global Forecast to 2029

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