South America Plant Growth Regulators Market Outlook 2031
The South America plant growth regulators market size was valued USD XX Billion in 2022 and is likely to reach USD XX Billion in 2031, expanding at a CAGR of 5.6% during the forecast period, 2023-2031. The growth of the market is attributed to rising demand for sustainable agricultural practices.
Plant growth regulators are synthetic or natural chemicals that are in charge of controlling plant growth and development. Natural plant growth regulators are developed with minimal qualities in specific parts of plants and migrate to other parts, manipulating several physiological functions to regulate plant growth, such as promoting plant cell division and cell expansion, leaf expansion, retarding leaf senescence, ripening of fruits and vegetables, fruit & flower maturation, and seed germination.
Plant growth regulators aid in improvement of crop yields and better crop management. The use of plant growth regulators to remove excess of fruits from pear trees is a common practice in orchard management, and it must be done within 30 days of blooming. As a result, labor availability should be consistent with this practice.
Plant growth regulators reduces total biological yield while increasing the fruit size. Furthermore, it facilitates the use of mechanical harvesters, making harvesting easier and lowering the cost of human labor. This, in turn, has increased crop profitability. Thus, the use of plant growth regulators has resulted in significant success in plant development processes such as flowering and fruit development, as well as ripening, harvesting, and post-harvesting of fruits and vegetables.
South America Plant Growth Regulators Market Trends, Drivers, Restraints, and Opportunities
- Reduced arable land is driving the market growth.
- Growing agro-chemical industry may hinder the market growth.
- Increasing development of eco-friendly regulators can create immense opportunities for the market players in the projected timeline.
Scope of The South America Plant Growth Regulators Market Report
The report on the South America plant growth regulators market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Plant Growth Regulators Market - South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Cytokinin, Auxin, Gibberellin, and Other types), Applications (Crop-based (Grains and Cereals, Pulses and Oilseeds Fruits & Vegetables, Turf and Ornamentals and Other crops), Non-crop-based (Turf and Ornamental grass and Other applications)
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Geographical Scope
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Brazil, Argentina, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE, Bayer crop science AG, Microquimica Tradecorp and NuFarm Ltd
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South America Plant Growth Regulators Market Segment Insights:
Cytokinin segment to dominate the market growth
Based on types, the market is segregated into cytokinin, auxin, gibberellin and other types. The cytokinin segment is anticipated to account for a major market share during the forecast period. Cytokinin is a type of plant growth hormone that stimulates cell division or cytokinesis in plant roots and shoots.
It is primarily responsible for cell growth and differentiation, but this plant growth hormone also influences apical dominance, axillary bud growth, and leaf senescence. Auxin is a type of plant hormone that has properties similar to morphogen. Auxins are essential for plant body development and play a critical role in the coordination of growth and behavioral process in a plant life cycle.
Crop-based segment to account a significant market share
On the basis of applications, the South America plant growth regulators market is divided into crop-based and non-crop-based. The crop-based segment is sub-segmented into grains and cereals, pulses and oilseeds fruits & vegetables, turf & ornamentals and other crops. While the non-crop-based segment is classified as turf and ornamental grass and other applications. The crop-based segment is anticipated to account for a major market share owing to rising food demand and reduced arable land in the region.
Brazil is projected to hold a major market share
In terms of geography, the market is categorized as Brazil, Argentina and Rest of South America. Brazil is expected to hold a major market share owing to the increasing greater emphasis on sustainable agriculture. Cereals and oilseeds account for a majority of plant growth regulators in the country, followed by fruits and vegetables.
Segments
Segments Covered in the Report
The South America plant growth regulators market is segmented on the basis of
Types
- Cytokinin
- Auxin
- Gibberellin
- Other types
Applications
- Crop-based
- Grains and Cereals
- Pulses and Oilseeds
- Fruits & Vegetables
- Turf & ornamentals
- Other Crops
- Non-Crop-based
- Turf and Ornamental grass
- Other applications
Geography
- Brazil
- Argentina
- Rest of South America
Key Players
Competitive Landscape
The major players in South America plant growth regulators market include BASF SE, Bayer crop science AG, Microquimica.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share. In 2019, Nufarm Ltd. introduced a plant growth regulatory product, named Impulse, in Brazil. This product primarily inhibits flowering, accelerates ripening, and stimulates sugarcane sprouting and tillering.
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