Global Plant Growth Regulators Market to reach Revenue of US$3000 Mn by 2026
Albany, NY -- (SBWIRE) -- 10/23/2018 -- There are different types of hormones deployed in the global plant growth regulators market. Among those, cytokinins are leading with respect to revenue generation. This is because of their increasing usage as key phytohormones for bringing about cell division in the plant roots and shoots, alongside bettering dormancy, fruiting, cell enlargement, and flowering. Besides, cytokinins are much in demand in different industrial sectors such as cosmetics, pharmaceuticals, and biomedicines. Geographically, Europe is a key region in the global plant growth regulator market where large tracts of land are devoted to organic farming.
Plant growth regulators have sought extensive adoption in the modification of plant physiological processes that include regulating the plant metabolism and inhibiting or stimulating enzyme systems. Plant growth regulators also seek robust demand for the regulation of cotton metabolism. Growth in the textile industry across countries such as Turkey, Germany, Bulgaria, India, and China, is anticipated to create high demand for cotton, thereby driving adoption of plant growth regulators.
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Rising Need to Protect Crops Drives Uptake of Plant Growth Regulators
Plant growth regulators find application in modifying physiological processes in plants. Those include metabolism or stimulation or control of enzyme systems. The global plant growth regulator market is seeing rising demand because of the pressing need to protect crops in the face of rising demand for food worldwide. Elaborates the lead analyst of the TMR report, "In order to protect crops and also lessen production costs, farmers all over the world are increasingly adopting new methods involving the use of organic farming and agrochemicals. This is providing a good boost to the global plant growth regulators market which helps to increase the profitability in organic farming."
Transparency Market Research's report on the global plant growth regulators market finds that it would attain a value of US$ 3,000 Mn revenue by the end of 2026.
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Cotton Industry Major Demand Driver
The cotton industry is one of the major drivers of the global plant growth regulators market since the products find usage in regulating cotton metabolism. "A burgeoning textile industry in nations of Germany, Turkey, India, Bulgaria, and China is driving up demand for cotton, thereby benefitting the plant growth regulators market," adds our in-house expert.