Plant growth regulators (PGRs) or plant hormones are the crop protection chemicals that are produced in plants or synthesized and applied to the plants in order to regulate its growth. In agriculture, PGRs have been used since decades to serve a variety of functionalities such as elongating or shortening plant length (depending on the desired function), ripening of fruits and vegetables, producing seedless fruits, control lodging in cereals, defoliating and boll opening in cotton plants and so on in various crops in order to improve the quality and yield of the respective crops.
The global PGR market during the forecast period 2015-2020, is estimated to rise at 4.6% CAGR, according to IndustryARC.
Regional Analysis:
The global PGR market exhibits differential growths across various regions of the world. Europe held the largest market share in the global PGR market, while exhibiting slow growth due to market maturity. On the other hand, the Asia-Pacific region shows a higher growth rate owing to the increasing awareness of PGRs among the farmers in developing countries such as India and China.
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Segment Brief:
During the period of study, cytokinins were found to be the most widely used type of PGRs, followed by ethylene or ethylene releasers. The market for ethylene is projected to grow at a rapid pace due to the increasing applications of ethephon on crops to serve a variety of purposes ranging from ripening to lodging control and imparting drought resistance in plants. Usage of various plant protection products is an effective way to improve the crop quality and yields and plant growth regulators are the least harmful chemicals that serve this purpose. For instance, the global demand for cotton is rapidly growing, owing to the growth of textile industry worldwide. This requires the...