Plant Hormones Market growth is driven by rising awareness of precision agriculture and technological advancements in farming, expected to continue through 2026-2030.
According to the TechSci Research report titled “Plant Hormones Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F,” the global Plant Hormones Market is projected to reach USD 2.97 billion by 2024, with a compound annual growth rate (CAGR) of 8.59% during the forecast period through 2030. Increased awareness about plant hormones among individuals has created favorable market conditions, driving the growth of the global Plant Hormones market. Various factors are contributing to the expansion of different plant hormone products.
Precision agriculture, which utilizes advanced technologies, data analytics, and information management, plays a key role in enhancing farming efficiency, including crop yield and resource optimization. Plant hormones are vital in precision agriculture as they help improve crop productivity, stress tolerance, and growth regulation. With farmers increasingly aware of the benefits of precision agriculture, the demand for plant hormones has risen. Farmers are adopting hormone-based solutions to optimize crop production, mitigate environmental stress, and improve overall sustainability.
The steady growth of the global population has heightened the demand for food, highlighting the critical role of plant hormones in increasing crop yield and quality. Plant hormones help induce flowering, regulate fruit ripening, and improve agricultural efficiency, making them essential in meeting growing food demands. Farmers are striving to optimize crop yields and enhance nutritional content to meet the needs of a rising population, further driving growth in the plant hormone market.
Advancements in agricultural technologies, such as biotechnology and genetic engineering, have led to the creation of plant varieties with enhanced traits like resistance to pests, diseases, and environmental stress. Plant hormones are crucial in shaping these genetically modified (GM) crops, influencing key physiological processes necessary for their development.
In today’s world, plant hormones like auxins, cytokinins, and gibberellins are used to regulate various physiological processes in plants, leading to increased crop yields. With the rising global demand for food, the ability of plant hormones to boost productivity is crucial for meeting global food needs. Environmental stresses, including those related to climate change, pose challenges to agricultural productivity. Plant hormones, such as abscisic acid, play a vital role in enhancing crop stress tolerance, helping plants adapt to unpredictable weather patterns and extreme conditions. This ensures a more resilient and consistent food supply. Efficient resource use, including water and nutrients, is essential for sustainable agriculture.
Plant hormones help optimize resource utilization by regulating processes such as water uptake and nutrient absorption. In a world with limited resources, maximizing crop output with minimal input is critical. Plant hormones promote faster crop growth and development by influencing cell division, elongation, and differentiation, leading to quicker maturation and shorter growth cycles. This ability to accelerate growth gives farmers a strategic advantage in a fast-paced world.
The growing global emphasis on sustainable agriculture, which focuses on environmental conservation, reduced chemical inputs, and improved soil fertility, is driving the demand for plant hormones. These hormones support sustainable farming by promoting natural growth processes, reducing reliance on synthetic chemicals, and enhancing crop resilience. As sustainable farming practices gain popularity among consumers and regulators, the plant hormone market is expected to experience growth.
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The global plant hormones market is segmented based on type, formulation, function, application, regional distribution, and company.
In terms of application, the Cereals & Pulses segment is expected to grow rapidly during the forecast period. This dominance is driven by the high demand for improved productivity and quality in cereals and pulses, which are staple food crops. Plant hormones play a critical role in enhancing the yield potential of these crops by influencing physiological processes like flowering, fruiting, and nutrient uptake. With the constant need to increase yields in staple crops, plant hormones are essential, which contributes to the dominance of this segment in the market.
Regarding formulation, the Granules segment has emerged as the leading choice in the market. Granules offer several advantages, including ease of application, minimal spillage, and precision, making them user-friendly for farmers. This ease of use, especially for those with limited resources or expertise, has led to the popularity of granules, solidifying their position as the market leader in plant hormone formulations.
Regionally, the Asia-Pacific market is expected to grow the fastest, offering significant growth opportunities for plant hormone players during the forecast period. The region is home to a large portion of the global population, leading to an increasing demand for food. As the demand for food rises, farmers in Asia-Pacific are adopting advanced agricultural technologies, including plant hormones, to improve crop productivity. The region’s shift toward modern farming practices, such as commercial farming, horticulture, and precision agriculture, is further driving the demand for plant hormones. As agricultural practices expand, the need for plant hormones increases, positioning Asia-Pacific as the fastest-growing market in the global plant hormone industry.
Major companies operating in Global Plant Hormones Market are:
BASF SE
Syngenta AG
The Dow Chemical Company
Nufarm Australia Ltd.
FMC Corporation
Bayer CropScience AG
Adama Agriculture Solutions Ltd.
Tata Chemicals Ltd.
Valent BioScience Corporation
Shanghai Xinyi Industry Co. Ltd
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“The technological advancements in agriculture and increasing awareness and adoption of precision agriculture are key drivers of the Plant Hormones market. In recent years, the growing world’s population and growing demand for food. Plant hormones are essential for enhancing crop yield and quality, making them a critical component in meeting the global demand for food. They are used to stimulate flowering, control fruit ripening, and improve the overall efficiency of agricultural practices.
Moreover, the growing consumer emphasis on preventative agricultural products has enhanced production and marketing efforts. To meet the demands of the market, manufacturers are increasingly incorporating cutting-edge technologies with high production efficiency. Rising consumer acceptance and continuous product innovation will further ensure the growth of the Plant Hormones market in the coming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.
“Plant Hormones Market – Global Industry Size, Share, Trends, Opportunity, & Forecast Segmented By Type (Auxins, Cytokinin, Ethylene, Gibberellins, Other), By Formulation (Solution, Granules, Wet Powders, Others), By Function (Growth Promoters, Growth Inhibitors), By Application (Fruits & Vegetables, Cereals & Pulses, Oilseeds & Grains, Other), By Region and Competition, 2020-2030F”, has evaluated the future growth potential of Global Plant Hormones Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Plant Hormones Market.
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