Plant Growth Regulators Market to Grow at 6.72% CAGR by 2021 Says New Research Report at ReportsnReports.com
Global Plant Growth Regulators Market 2017-2021 is a new industry research report which profiles key players like BASF, Dow Chemical, FMC, Nufarm, and Syngenta.
Other Prominent Vendors in the market are: Bayer CropScience, Nippon Soda, Tata Chemicals, Valent BioSciences, and Xinyi (H.K.) Industrial.
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The plant growth regulators market report covers the present scenario and the growth prospects of the global plant growth regulators market for 2017-2021. Global Plant Growth Regulators Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the plant growth regulators market report, one of the major drivers for this market is growth in organic industry. The growth of the organic industry started in the 1970s, and it led to the formulation of Organic Food Protection Act of 1990 in the US Congress. Increasing awareness about health hazards associated with the use of chemicals in food and household products has driven the growth of the organic products market. Currently, organic products occupy a prime shelf in supermarkets.
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Commenting on the plant growth regulators market report, an analyst says the latest trend gaining momentum in the market is growth in pharmaceutical industry. The global pharmaceutical market is primarily driven by changing lifestyles, aging population, unhealthy eating habits, and increased occurrence of chronic diseases across the globe.
With the growing pharmaceutical market, the demand for herbal medicines is rising due to high-priced allopathy substitutes. The major pharmaceutical companies are investing in R&D expenditure for developing of plant-derived medicines to cope up with the rising demand for herbal medicines. This is expected to contribute to the market growth of PGRs, with a higher demand for cytokinins in the growth of medicinal plants for herbal medicine.
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Further, the plant growth regulators market report states that one of the major factors hindering the growth of this market is poor knowledge among growers. Organic farming being a complex process, requires its growers to have a very high level of knowledge and skills. Also, there is a limited exchange of organic farming techniques among the organic growers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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