South America Plant Growth Regulators Market - By Type, Application and Geography - Market Shares, Forecasts And Trends (2017 - 2022)
Plant Growth Regulators are chemical compounds, other than nutrients, that modify plant physiological processes. The South American plant growth regulators market is estimated to grow at the CAGR of 6.7% during the forecast period of 2016-2021; the market value is expected to reach $575.6 million by 2021 in South America.
The organic food industry which is growing at the healthy growth rate is the major driving force behind the growth of plant growth regulators industry. Increased emphasis on sustainable farming will also help for the market growth. Less awareness among the farmers about the use and application of PGR is restraining the growth of the market. Less popularity of PGR as compared to chemical fertilizers has stunted the growth.
Among all the growth regulators, Cytokinins are widely consumed and accounts for around 40% of the market share. Cytokinins are also the fastest growing segment during the forecast period as they enhance stress tolerance and stimulate protein synthesis. Auxin is the second largest segment and the consumption is expected to expand with demand for medicinal plants and growth in turf and landscaping. Cereals and oilseeds are the major consumers of plant growth regulators followed by fruits & Vegetables.
South America region is seen as an opportunity market for agrochmeicals demand including plant growth regulators.Brazil is the major market in South America and is also expected to grow at the fastest CAGR of 7.0% in the region.
Investment in research and development of cheap effective products is another strategy adopted by market leaders. The major players in the market are BASF SE, Bayer Crop Science, DuPont, Nufarm Ltd., FMC Corporation, Tata Chemicals Ltd etc. Product innovation is seen as a long term strategy for the industry.
In this report we offer,
Market analysis for the South America Plant Growth Regulators Market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the South America Plant Growth Regulators Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped