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Global Plant Growth Regulators Market is Expected to Reach USD 5,936.2 Million in 2019: Transparency Market Research
|By PR Newswire
|March 11, 2014 06:30 AM EDT
ALBANY, New York, March 11, 2014 /PRNewswire/ --
According to a new report published by Transparency Market Research "Plant Growth Regulators (Cytokinins, Auxins and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global demand for plant growth regulators was valued at USD 3,360.0 million in 2012 and is expected to reach USD 5,936.2 million in 2019, growing at a CAGR of 8.5 % from 2013 to 2019.
Browse Global Plant Growth RegulatorsMarket Report with Full TOC at http://www.transparencymarketresearch.com/plant-growth-regulators.html
Factors such as increasing demand for plant growth regulators for manufacturing cotton with the growth of the textile industry, and increasing organic farming owing to augmenting demand for organic food is expected to fuel the demand for the plant growth regulators over the forecast period. Increasing globalization coupled with the demand for growing profitability has in many aspects, forced the agrochemical industry into major restructuring, where companies are focusing towards developing innovative and less threatening crop protection products such as plant growth regulators. Rising preference of farmers towards other agrochemicals such as fertilizers is expected to hamper the growth of the market. Focus towards developing cost effective and eco-friendly plant growth regulators is expected to provide new opportunities for the market.
In 2012, cytokinins accounted for over 40% of the market share. Cytokinins are also expected to witness the fastest growth over the forecast period as demand for these plant hormones has been the highest due to increasing demand for medicinal plants with the growth of the herbal medicine industry. Auxins were the second largest product segment in the PGR industry owing to their ability to enhance the growth characteristics and productivity of many plants such as cotton. Demand for other plant hormones such as mepiquat chloride and gibberellins in cotton are also expected to increase noticeably with the growth of the textile industry.
Browse Plant Growth RegulatorsMarket at http://www.transparencymarketresearch.com/plant-growth-regulators.html
Demand for plant growth regulators was highest in Europe due to the growing consumer demand for organic food and major shift of agriculturists towards eco-friendly and cost effective agrochemical products. Demand for plant growth regulators in Asia Pacific is expected to witness the fastest growth, growing at a CAGR of 9.2% from 2013 to 2019. Emerging economies in Asia Pacific such as China and India are anticipated to dominate the market owing to the large demand for plant hormones in cotton production for its use in textile industry.
Related & Recently Published Reports by Transparency Market Research
The report gives a comprehensive view of the plant growth regulator market in terms of revenue. In addition, the report includes current demand analysis and forecast for each product in North America, Europe, Asia Pacific and Rest of the World. The report comprises of the following segment:
Plant Growth Regulator Market: Product Segment Analysis
Others (Mepiquate chloride, gibberellins, etc.)
Plant Growth Regulator Market: Regional Analysis
Rest of the World (Latin America, Africa and Middle East)
Browse all Chemical & Materials Market Research Reports @ http://www.transparencymarketresearch.com/chemical-market-reports-2.html
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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