Plant Growth Promoters Market Ongoing Trends, Recent Developments & Forecast till 2031

Plant Growth Promoters: Introduction

Fertilizers which are natural\herbal based by formulation and facilitate the overall health growth and development of the plant are termed as plant growth promoters. Plant Growth Promoters help develop the cell division, cell enlargement, flowering, fruiting, and seed formation and are also effectual in improving the crop, quality and productivity.

The primary factors which affect the plant growth promoters are light, water, temperature and nutrients. The nutrients such as nitrogen, phosphorus, potassium, magnesium, sulphur and calcium are essential for the growth of plants. Plant growth promoters are effectual in improving the crop, quality and productivity. Plant growth promoters, alongside biostimulants, have been picking up significance as an integral part of organic farming practice. Plant growth promoters, particularly removed from kelp have been firmly upheld for their normal root.

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Plant Growth Promoters: Market Dynamic

With the escalating demand of agricultural produce to be catered in reduced lead time, efforts towards improved yield rate and preserving the natural resources have gained importance like never before. Due to increase development in farming practices & technology and utilization of organic fertilizers and agrochemicals, the agriculturists are more focused on towards the said technology. With no hazardous effects on the plant and the soil , the usage plant growth promoters has been gaining preference to high levels in the recent times which is expected to experience continued momentum in the market growth.

The rising price of the plant growth promoters however may prove to be a deterrent for the end users with resorting to conventional / synthetic based agrochemicals. This factor agriculture crop can be a restraint to the growth of market. The increase in research and development activities in plant growth promoters   for making new product is expected to generate profitable opportunities for the plant growth promoters market, in the coming years.

COVID-19 Impact on Plant Growth Promoters

In spite of the COVID-19 pandemic stunning the growth of several industry domains in the current year, the agriculture industry has been undeterred by the impact and is believed to grow at the average expected rate as perceived by the experts. The plant growth promoters market owing to the (Covid-19) crisis is understood to experience an initial plunge in growth owing to initial lockdown in production and supply of the product, followed by the gradual recovery to a decent rate in the forthcoming periods.

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Plant Growth Promoters: Segmentation

The plant growth promoters can be segmented on the basis of type, crop type and formulation.

Based on the Type, the plant growth promoters can be segmented into,

  • Cytokinins
  • Auxins
  • Gibberellins
  • Ethylene

Based on the crop type, the plant growth promoters can be segmented into,

  • Fruits &  vegetables
  • Cereals &  grains
  • Oilseeds &  pulses
  • Turf &  ornamentals

Based on the Formulation, the plant growth promoters can be segmented into,

  • Water-dispersible & water-soluble granules
  • Solution
  • Wettable powders

Plant Growth Promoters: Regional Outlook

Asia pacific and Europe are considered to be the dominant region in the plant growth promoters market. The major countries in Asia Pacific region being India, China, Australia & New Zealand have significantly contribute towards the growth of plant growth promoter markets. Due to the increase demand in organic food is further expected to boost the plant growth promoters market.

Strict regulatory frameworks with respect to maximum level in agricultural soil, in European region make plant growth promoters support product among farmer, as they are more important friendly. This has made the Europe has one of the major markets for plant growth promoters.

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