Plant Growth Regulators Market by Type (Cytokinins, Auxins, Gibberellins, Ethylene, Abscisic Acid), Formulation (Wettable Powders, Solutions), Function (Promoters, Inhibitors), Crop Type (Cereals & Grains, Fruits & Vegetables) - Global Forecast to 2031

The Plant Growth Regulators Market was valued at $2.72 billion in 2023. This market is expected to reach $5.41 billion by 2031, from an estimated $2.96 billion in 2024, at a CAGR of 9% during the forecast period 2024-2031.

Plant Growth Regulators Market Size & Forecast

While in terms of volume, the market is expected to reach 126,145.1 tons by 2031, at a CAGR of 6.6% from 2024 to 2031. The growth of this market can be attributed to several factors, including the increasing need for sustainable agricultural practices, growth in organic farming & the rising demand for organic food, increased investments from leading market players, and the rising demand for high-value crops. Moreover, emerging countries with agricultural diversity and extensive arable lands are expected to offer growth opportunities for the players operating in this market.

Plant Growth Regulators Market: Competitive Analysis 

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the plant growth regulators market are BASF SE (Germany), Corteva, Inc. (U.S.), Syngenta AG (A Part of China National Chemical Corporation/ChemChina) (Switzerland), FMC Corporation (U.S.), Nufarm Limited (Australia), Bayer AG (Germany), UPL Limited (India), Sumitomo Chemical Co., Ltd. (Japan), Tata Chemicals Ltd. (India), Nippon Soda Co., Ltd. (Japan), Barclay Chemicals Manufacturing Limited (Ireland), Fine Americas Inc. (U.S.), Hangzhou Tianlong Biotechnology Co., Ltd. (China), Sichuan Guoguang Agrochemical Co., Ltd. (China), and Sikko Industries Limited (India).

Increasing Need for Sustainable Agricultural Practices Driving the Plant Growth Regulators Market

The agriculture sector has transformed significantly over the past 50 years. Advances in machinery have expanded the scale, speed, and productivity of farm equipment, leading to more efficient cultivation of more land. Seeds, irrigation methods, crop protection chemicals, and fertilizers have also vastly improved, helping farmers increase yields. The adoption of sustainable agricultural practices using crop protection chemicals has increased in recent years. These practices aim to improve crop yield, minimize the environmental impacts of farming, and ensure food safety.

Integrated Pest Management (IPM) combines various pest management strategies to reduce reliance on chemical pesticides. It involves the use of biological control agents, crop rotation, habitat manipulation, and the careful monitoring of pests. By integrating different methods, farmers can minimize the use of chemical pesticides while effectively managing pests. In addition, precision agriculture technologies, such as satellite imagery, remote sensing, and Global Positioning Systems (GPS), have enabled farmers to identify and treat specific areas of their fields. This has allowed for the targeted application of plant growth regulators, reducing overall usage and minimizing environmental impacts.

Moreover, natural plant growth regulators, such as gibberellic acid, abscisic acid, and naphthaleneacetic acid, are gaining popularity as safer alternatives to synthetic plant growth regulators. Natural plant growth regulators are considered environment-friendly and can reduce chemical inputs in crop protection.

Furthermore, climate change, coupled with depleting natural resources, is expected to significantly impact agriculture, affecting populations in low-income countries, particularly in Africa and South Asia. The adoption of sustainable agricultural practices can increase both agricultural productivity and incomes, enabling farmers to raise yields, manage inputs more efficiently, adopt new crops and production systems, improve the quality of their products, conserve natural resources, and adapt to climate challenges. Thus, the increasing need for sustainable agricultural practices is increasing the adoption of plant growth regulators, driving the growth of this market.

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Key Findings in the Plant Growth Regulators Market Study:

In 2024, the Cytokinins Segment to Dominate the Plant Growth Regulators Market

Based on type, in 2024, the cytokinins segment is expected to account for the largest share of the plant growth regulators market. The large market share of this segment can be attributed to the numerous advantages offered by cytokinins in enhancing and controlling various aspects of plant development and growth, including shoot and root growth, cell division, senescence, apical dominance, biotic stress response, differentiation, and fruit and seed development. The extensive application of cytokinins in mature plants to support growth and aid in the recovery of wounded plant parts contributes to its increased demand.

However, the gibberellins segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increasing demand for high-quality crops and the need for improved agricultural practices. Furthermore, farmers’ increasing preference for the usage of gibberellins, due to their potential to promote plant development under uncontrollable and unprecedented atmospheric conditions, is expected to boost the gibberellins market growth significantly in the next few years.

In 2024, the Water-dispersible & Water-soluble Granules Segment to Dominate the Plant Growth Regulators Market

Based on formulation, in 2024, the water-dispersible & water-soluble granules segment is expected to account for the largest share of the plant growth regulators market. The large market share can be attributed to the numerous advantages offered by water-dispersible & water-soluble granules, including ease of handling and mixing, rapid dissolution, minimal dust generation, improved stability, and longer shelf life when compared to certain liquid alternatives.

In 2024, the Plant Growth Promoters Segment to Dominate the Plant Growth Regulators Market

Based on function, in 2024, the plant growth promoters segment is expected to account for the larger share of the plant growth regulators market. The large market share of this segment can be attributed to the rising concerns about soil erosion and the growing practice of organic farming across the globe. Plant growth promoters enhance various aspects of plant growth, including cell division, cell enlargement, flowering, nutrient uptake improvement, and seed formation, all of which contribute to improved crop quality and productivity.

The Fruits & Vegetables Segment to Witness Highest Demand During the Forecast Period

Based on crop type, in 2024, the cereals & grains segment is expected to account for the largest share of the plant growth regulators market. The large market share of this segment can be attributed to the growing need to increase cereal & grain production, the need to minimize the risk of lodging in cereals & grains, and the rising production of cereals in Asian countries like India and China. These countries have witnessed significant advancements in crop production practices and have access to high-yield cereal varieties. Furthermore, governments worldwide actively support cereals & grains production due to the critical role these crops play in ensuring food security. Government policies and subsidies often promote the use of modern agricultural practices, including the application of plant growth regulators.

However, the fruits & vegetables segment is projected to witness the highest growth rate during the forecast period of 2024–2031. This growth is driven by the increase in fruit and vegetable production globally, the rising demand for chemical-free organic fruits and vegetables, and the increasing application of plant growth regulators in fruit and vegetable crops. Furthermore, plant growth regulators are used in the cultivation of fruits and vegetables to regulate ripening and extend post-harvest shelf life. They extend harvesting periods by delaying the natural ripening process, allowing for more productive harvesting cycles.

Asia-Pacific: Fastest-growing Regional Market

Based on geography, in 2024, Europe is expected to account for the largest share of the plant growth regulators market, followed by Asia-Pacific, North America, Latin America, and the Middle East & Africa. Europe's significant market share can be attributed to several key factors, including the region’s rising population, decreasing arable land, rising need for enhanced crop productivity, advances in farming practices and technology, and increasing government initiatives to boost organic farming.

Moreover, the market in Asia-Pacific is slated to register the highest growth rate during the forecast period. The growth of this regional market is attributed to the region’s top global ranking in terms of large agricultural lands, high population growth, rising need for high agricultural productivity and yields, and growing demand for high-quality agricultural products and organic produce. These factors are expected to increase the utilization of plant growth regulators in Asia-Pacific countries, particularly China and India.

Plant Growth Regulators Market Report Summary:

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