Crop Growth Regulators Market to hit USD 7.07 billion by 2034 with 6.7% annual growth

Enhanced Nutrient Uptake and Increased Crop Yield Making Crop Growth Regulators Vital for Agriculture: Fact.MR Report

As stated in the recently published report by Fact.MR, a market research and competitive intelligence provider, the global crop growth regulator market is projected to reach US$ 3.68 billion in 2024. The market is further forecasted to advance at a CAGR of 6.7% between 2024 and 2034.

Crop growth regulators (CGRs) are seeing a sharp increase in demand due to their wide range of uses and several advantages in contemporary agriculture. These man-made substances imitate or disrupt the hormones found in plants, giving growers unparalleled control over a range of plant growth and development processes. CGRs are becoming essential tools for farmers all over the world, helping with anything from controlling plant height and fruit ripening to increasing agricultural yields and stress tolerance. In an era of climate change and food security concerns, their capacity to maximize resource allocation within plants, boost overall crop quality, and prolong produce shelf life has made them particularly appealing.

Due to their adaptability, CGRs are important components in agricultural methods as agriculture encounters more difficulties, such as erratic weather patterns and the requirement for sustainable intensification. The CGR market is rising to new heights because of the growing acknowledgment of their potential, which is driving higher use across a variety of crop kinds and geographical areas.

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Key Takeaways from Market Study

• The global crop growth regulator market is forecasted to attain a valuation of US$ 7.07 billion by the end of 2034.
• The market in South Korea is analyzed to expand at a CAGR of 7.5% from 2024 to 2034.
• The East Asia market is projected to reach US$ 1.63 billion by 2034-end.
• Mexico is analyzed to account for a market share of 19.9% in the North American region by 2034.
• Based on the product type, cytokinins sales are projected to rise at a CAGR of 6.8% from 2024 to 2034.
• The North American market is forecasted to expand at a CAGR of 6.9% through 2034.

“Synchronized crop maturity and extended life of produce is stimulating the sales of crop growth regulators around the world,” says a Fact.MR analyst.

Development in Nanotechnology Helping Escalating Demand for Crop Growth Regulators

Thanks to developments in nanotechnology, CGR efficiency has increased and the environmental effect has decreased with the creation of nano-formulations. Because of their enhanced absorption and tailored administration, these formulations enable lower application rates without sacrificing effectiveness.

As bio-based CGRs produced from natural sources are introduced, biotechnology is playing an increasingly important role. These environment-friendly substitutes allay worries about synthetic chemical use and appeal to the expanding organic farming industry.

Smart CGR application methods combined with precision agricultural technology allow for site-specific treatments that maximize crop response and resource efficiency. Farm operations are also becoming more efficient with the introduction of multifunctional CGRs that combine growth regulation with pest management or nutrient absorption augmentation.

By solving environmental and regulatory issues and enhancing crop yields and quality, these developments are establishing CGRs as essential instruments in contemporary, sustainable agriculture.

Crop Growth Regulator Industry News:

Key players in the crop growth regulator market are focusing on introducing new products, including crop protection chemicals and ethylene acrylic acid. In August 2023, AMVAC, a global agricultural technology solutions provider, expanded its product portfolio with the launch of Mandolin, a plant growth regulator specifically designed for citrus fruits. Similarly, in March 2023, Sumitomo Chemical India Ltd., a subsidiary of Sumitomo Chemicals, introduced Promalin®, a novel plant growth regulator, in Shimla, Himachal Pradesh. The product is available in Himachal Pradesh and Jammu & Kashmir in one-liter and 500 ml pack sizes. Additionally, in June 2022, Valent Canada Inc. renewed its collaboration with Australian company Nufarm Agriculture Inc. to strengthen its distribution network across Canada.

Leading Players Driving Innovation in the Crop Growth Regulator Market:

Key industry participants like Dhanuka Agritech Ltd.; BASF SE; PBI-Gordon Companies, Inc.; Corteva Agriscience; Syngenta Group; Biotechnology Co., Ltd; Sikko India; FMC Corporation; Hangzhou Tianlong; Nufarm; De Sangosse; Sichuan Guoguang Agrochemical Co., Ltd; Bayer AG; Tata Chemicals Ltd.; Zagro; UPL; Sumitomo Chemical Co., Ltd.; Barclay Chemicals; Nippon Soda Co., Ltd.; Barclay Chemicals; Sipcam Oxon Spa; Aristo Biotech etc. are driving the crop growth regulator industry.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the crop growth regulator market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (cytokinins, auxin, gibberellins, ethylene, others), formulation type (wettable powders, solutions), crop type (fruits & vegetables, cereals & grains, oilseeds & pulses, turf & ornamental), and function (promoters, inhibitors), cross seaven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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