China plant growth regulators market is expected to grow at a steady rate during the forecast period. The China plant growth regulators (PGRs) market is driven by the growing need for food safety for meeting the demand of its ever-increasing population. Additionally, these PGRs help in improving the ripening and propagation process thereby propelling the market growth through 2027.
Furthermore, decreasing arable lands for cultivation has drastically increased the demand for PGRs. Besides, a shift towards greener farming techniques and increased adoption of sustainable farming techniques are further expected to positively impact market growth. Moreover, supportive government agricultural policies are further expected to spur the market over the next few years. However, the high cost of PGRs can hamper the market growth during the forecast period. Additionally, the lack of awareness among the farmers pertaining to PGRs and their benefits further restricts the market growth.
Important elements of the China Plant Growth Regulators Market
The China plant growth regulators (PGRs) market is segmented based on type, crop type, function, formulation, company, and region. Based on type, the market can be categorized into auxin, gibberellin, cytokinin, and others. The cytokinin segment is expected to dominate the market during the forecast period since it increases the capacity of plants to tolerate water deficiency by guarding the nitrogen and carbon integration process during stressful conditions.
Additionally, cytokinin help in branching, and nutrient remobilization and facilitate the growth of flowers and seeds. While auxin segment is also expected to witness significant growth in the market owing to their increasing use in medicinal plants, tissue culture, and plant propagation. Based on function, the market can be fragmented into stimulators, promotors, inhibitors, and retardants.
The promoters segment is expected to dominate the market over the next few years on account of their increased use of fruits & vegetables to enhance the flowering process thereby increasing yield. Additionally, promoters help in the early stages of development thereby driving the growth of the segment.
The major players operating in the China plant growth regulators (PGRs) market are Xinyi Industrial, Sichuan Guoguang Agrochemical Co Ltd, China Biotech Agriculture CBA Co., Ltd., SinoHarvest, Jiangsu Longguang Chemical Co. Ltd., King Quenson Group, BASF (China) Co. Ltd., Dow Chemical China Co Ltd, Bayer China Ltd., FMC Corporation and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
The objective of the Study of the China Plant Growth Regulators Market
- To analyze and estimate the market size of the China plant growth regulators (PGRs) market from 2017 to 2020.
- To estimate and forecast the market size of the China plant growth regulators (PGRs) market from 2021 to 2027 and the growth rate until 2027.
- To classify and forecast the China plant growth regulators (PGRs) market based on type, crop type, function, formulation, company, and regional distribution.
- To identify the dominant region or segment in the China plant growth regulators (PGRs) market.
- To identify drivers and challenges for the China plant growth regulators (PGRs) market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the China plant growth regulators (PGRs) market.
- To conduct pricing analysis in the China plant growth regulators (PGRs) market.
- To identify and analyze the profile of leading players operating in the China plant growth regulators (PGRs) market.
- To identify key sustainable strategies adopted by market players in the China plant growth regulators (PGRs) market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors.
Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels, and presence of all major players across the globe.
TechSci Research calculated the market size of the China plant growth regulators (PGRs) market using a bottom-up approach, wherein data for various end-user segments were recorded and forecasted for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience for China Plant Growth Regulators Market
- Plant growth regulators (PGRs) manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to plant growth regulators (PGRs)
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.