Global Plant Growth Regulators Market is expected
to exceed USD 6 billion by 2020, according to a new study by Grand View
research, Inc. High allopathic medicine price is a key reason for growing
herbal medicines demand which is expected to positively impact plant growth regulators
market. Plant growth regulators are expected to witness significant growth in
demand owing to its use in cotton metabolism in light of the growing cotton
textile industry.
Cytokinins were the widest used plant growth
regulators with market revenue exceeding USD 1.25 billion in 2013 owing to
extensive use in herbal medicines. Increasing concerns regarding farmer
profitability is expected to result in shift from conventional farming to
organic farming which will provide favorable market opportunities.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/plant-growth-regulators-market
Global plant growth regulators market, by region, 2012 - 2020 (USD Million)
Further key findings from the study
suggest:
- Auxins act as growth stimulators in cotton metabolism which is expected to augment the product segment market in cotton manufacturing. Auxins market revenue was close to USD 1.0 billion in 2013 with major demand from cotton textile industry in Asia Pacific.
- Europe was the largest regional market in 2013 with revenue of USD 1.86 billion due to increased organic farming activities in the region. Ample land available for organic farming is expected to accelerate use of plant growth regulators in plant physiological process modification.
- Asia Pacific is expected to witness fastest growth at an estimated CAGR of 9.3% from 2014 to 2020 owing to improving cotton textile industry in the region. Large cotton industry in India and China is expected to result in increased demand for growth regulators in cotton metabolism. Indian government’s recent FDI policies have favored textile industry in the country directly influencing plant growth regulators market.
- Market has low consolidation owing to presence of limited manufacturers globally. Key companies including DuPont, BASF and Bayer CropScience cater to major markets of North America, Europe and Asia Pacific. Concentrated market scenario in Europe and North America indicate high demand, however it is expected that there would be a shift in focus towards the emerging markets of Asia Pacific and Latin America over the next six years.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
For the purpose of this study, Grand
View Research has segmented the global plant growth regulators market on the
basis of product and region:
Plant
Growth Regulators Product Outlook (Revenue, USD Million, 2012 - 2020)
• Cytokinins
• Auxins
• Others (Gibberellins and Mepiquat Chloride)
Plant
Growth Regulators Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
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Grand
View Research, Inc.
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Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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