LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global plant growth regulators market is expected to grow at a CAGR of close to 7% during the forecast period.
This research report titled ‘Global Plant Growth Regulators Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global plant growth regulators market into four major segments based on the type of plant growth regulators. They are:
- Cytokinins
- Auxins
- Gibberellins
- Others
Global cytokinins market
Cytokinins are one of the key phytohormones, which induce the cell division in plant roots and shoots. Cytokinins help in preventing the senescence of fruits, flowers, and leaves. They stop staining and yellowing of fruits and leaves. Cytokinins are commonly used in the agriculture industry to increase the yield.
According to Mahitha Mallishetty, a lead analyst at Technavio for agrochemicals and fertilizers research, “Growing demand for cytokinins in the textile, organic food, and agriculture industries is likely to drive the market. Increasing use of herbal and natural products in the cosmetics and medicine industries will further boost the market for cytokinin during the forecast period.”
Global auxins market
Auxins are plant growth hormones. Auxins induce the rooting of the plant. Owing to this, auxins are widely used for initiating root formation in plant cuttings. These growth regulators are also used to promote cell enlargement and bud formation. Auxins control the growth of flowers, fruits, stem, and roots.
“Auxins are widely used in plant tissue culture for the restoration of rare medicinal plants. The revival of the herbal medicine industry and the consequent increase in demand for herbal medicines and bio-medicines is expected to drive the global auxins market,” says Mahitha.
Global gibberellins market
Gibberellin is one of the major plant hormones, 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 predominantly 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.
Global other PGRs market
The others segment includes ABA and ethylene. ABA is used to develop stress tolerance in plants. It helps support plant growth during drought and low-temperature stress. Despite its unique properties, ABA occupies a small market share in the global PGR market due to lack of awareness and less availability.
Ethylene is a gaseous hydrocarbon, which is considered as an aging hormone altering the growth processes such as ripening, senescence, and abscission; thereby, fastening the aging process throughout the life cycle of the plant and accelerating the development of roots and shoots of plants. Ethylene and ABA together accounted for close to 21% of the total global market share in 2016.
The top vendors highlighted by Technavio’s chemicals and materials market research analysts in this report are:
- BASF
- Dow Chemical
- FMC
- Nufarm
- Syngenta
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