Market Size of North America Plant Growth Regulators Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 3.38 Billion |
Market Size (2029) | USD 4.83 Billion |
CAGR (2024 - 2029) | 7.40 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America Plant Growth Regulators Market Analysis
The North America Plant Growth Regulators Market size is estimated at USD 3.38 billion in 2024, and is expected to reach USD 4.83 billion by 2029, growing at a CAGR of 7.40% during the forecast period (2024-2029).
- Plant growth regulators are substances that are produced naturally from higher plants and used to modify a crop by changing the rate of its response to the internal and external factors that govern development from germination through vegetative growth, reproductive development, maturity, and aging, as well as post-harvest preservation. Auxin, Cytokinin, Gibberellins, and abscisic acid are commonly used growth regulators in North America.
- Furthermore, since the demand for organic food in the region is increasing, the demand for growth regulators is also rising. The use of PGRs is quite common in greenhouse crop production. Greenhouse growers use plant growth regulators to control excessive plant growth and increase the productivity of the plant, and also PGRs are used in wide applications in the agriculture sector. These factors will fuel the market growth and tend to increase during the forecasting period.
- The organic food industry is witnessing healthy growth rates owing to sustainable farming practices. Thus these are the major driving factors for the increased demand for growth regulators. North America is the second-largest market and is expected to expand, with the increased supply of quality products from the key players. This will drive the market's growth during the forecast period.
North America Plant Growth Regulators Industry Segmentation
Plant growth regulators are chemicals that boost plant growth, such as increasing branching, increasing return bloom, and removing excess fruit from the plant. The North American plant growth regulators market is segmented by type (cytokinins, auxins, gibberellins, and other types), application (crop-based (grains and cereals, oilseeds, and fruits and vegetables), non-crop-based (turf and ornamental grass and other non-crop-based types), and geography(United States, Canada, Mexico, and Rest of North America). The report offers market estimation and forecasts in value (USD million) for the above-mentioned segments.
Type | |
Cytokinins | |
Auxins | |
Gibberellins | |
Other Types (Mepiquate Chloride) |
Application | |
Crop-based | |
Non-crop-based |
Geography | ||||||
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North America Plant Growth Regulators Market Size Summary
The North America Plant Growth Regulators (PGR) market is poised for significant expansion, driven by the increasing demand for organic food and sustainable farming practices. PGRs, which include substances like Auxin, Cytokinin, Gibberellins, and abscisic acid, are essential in modifying crop growth by influencing various developmental stages from germination to post-harvest preservation. The market is experiencing a surge in adoption, particularly in greenhouse crop production, where these regulators help manage excessive growth and enhance productivity. The region's commitment to organic farming and government support for sustainable agriculture further bolster the market's growth trajectory.
The market landscape in North America is characterized by a high degree of fragmentation, with key players such as Bayer Crop Science, ADAMA Agricultural Solutions Ltd, Corteva Agriscience, Nufarm Ltd, and Syngenta AG actively engaging in new product developments and strategic acquisitions to expand their market presence. The ongoing research and development efforts aim to create cost-effective and efficient PGR solutions, catering to the rising demand for premium quality crops. As the organic food industry continues to grow, supported by government subsidies and initiatives, the PGR market is expected to witness robust growth, offering significant opportunities for industry participants.
North America Plant Growth Regulators Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porters Five Force's Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Cytokinins
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2.1.2 Auxins
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2.1.3 Gibberellins
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2.1.4 Other Types (Mepiquate Chloride)
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2.2 Application
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2.2.1 Crop-based
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2.2.2 Non-crop-based
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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North America Plant Growth Regulators Market Size FAQs
How big is the North America Plant Growth Regulators Market?
The North America Plant Growth Regulators Market size is expected to reach USD 3.38 billion in 2024 and grow at a CAGR of 7.40% to reach USD 4.83 billion by 2029.
What is the current North America Plant Growth Regulators Market size?
In 2024, the North America Plant Growth Regulators Market size is expected to reach USD 3.38 billion.