(Australia-NewsWire.Com, September 07, 2017 ) The North America Plant Growth Regulators Market was worth $1.30 billion in 2016 and estimated to be growing at a CAGR of 4.02%, to reach $1.58 billion by 2021. Plant growth regulators are the chemical substances that affect the growth of the plants in many complex ways. They regulate important activities such as cell division, shoot growth, and flowering.
Plant growth regulators are naturally occurring components that control the development and progress of plants. Some of them like cytokinins and auxins are man-made artificial growth regulators which are employed on plants to get a multitude of changes. Several of the plant growth regulators are prepared by the tissues of the plant.
The growth of the North America Plant Growth Regulators market Analysis is majorly due to factors such as increasing need for enhanced crop productivity, growing textile industry, and increasing demand for cotton. The initiatives taken by the government are another major factor driving the market in this region. However, factors such as less awareness among the farmers, few product innovations, and lower output of Plant growth regulators when compared to chemical fertilizers are restraining the growth of the market in this region.
The North America Plant Growth Regulators market is segmented based on Type and Crop Type. The market for Plant Growth Regulators, on the basis of Type, is classified Cytokinins, Auxins, Gibberellins, and Others. On the basis of type, Cytokinins lead the plant growth regulators market, accounting for over 40% of the market share, and are also projected to witness the highest growth during the forecast period. Demand for cytokinins has been on the rise due to their widespread use in increasing the capacity of plants to tolerate water deficiency, by guarding the nitrogen and carbon integration process during stress. On the basis of Crop Type, the Plant Growth Regulators market is segmented into Fruits & Vegetables, Grains & Cereals, Oil seeds, Turf & Ornamental Grass, and Others. Cereals & Oilseeds lead the market on the basis of Crop Type, followed by fruits & Vegetables.
The North America market has been geographically segmented into segmented into US and Canada. The demand for plant growth regulators has been extremely prevalent in North America owing to the swiftly developing organic farming industry combined with the massive cotton industry, especially in the United States.
The main policies implemented by the companies to increase their market share in the plant growth regulators market are new products, and mergers & acquisitions. The strategy of efficient and strong yielding products would lead to improved user gratification. The major companies dominating the Plant Growth Regulators market in this region are BASF SE, Bayer Crop Science, DuPont, FMC Corporation, Tata Chemicals Limited, and Xinyi Industrial Co Ltd.
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