Market Research Future (Food and Beverages) Plant Growth Regulators Market Research Report | Page 3

Plant Growth Regulators Market Research Report – Global Forecast till 2023
2 Market Overview
Plant growth regulators (PGRs) are chemicals of natural or synthetic origin that aid in the regulation of a plant’s
growth. They are applied through foliar spray, fertigation, or seed treatment to promote or inhibit plant growth. There
are five main types of plant growth regulators namely auxins, gibberellins, ethylene, cytokinins, and abscisic acid.
PGRs influence the growth and differentiation of cells, tissues, and organs by functioning as chemical messengers
during intracellular communication in plants.
The decreasing area under cultivation throughout the world is exerting tension on limited cultivable land to meet the
rising food demand. Thus, the sales of plant growth regulators are projected to surge to meet the rising demand for
agricultural produce as they help in regulating the growth of plants. Moreover, increasing investment in agriculture
industry, mainly in developing countries is expected to create profitable opportunities for the market players during
the forecast period.
Regional Analysis:
Asia-Pacific is expected to grow with the highest CAGR during the forecast period due to the presence of several
market players in the region and surging agricultural exports. Europe is expected to account for the largest revenue
share in the global plant growth regulators market. The regions dominance can be attributed to the rising preference
of consumers towards natural and organic food products. In addition, surge in crop production and increasing
government initiatives in Europe’s agriculture industry are also driving the region’s market growth.
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