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Plant growth regulators (PGRs) are essential chemical messengers that facilitate cell-to-cell communication, significantly influencing the growth and functioning of plant cells, tissues, and organs. These compounds are naturally produced in small amounts by specific plants and distributed throughout the plant to regulate various physiological processes. Key functions include promoting cell division and growth, delaying leaf senescence, encouraging new leaf development, aiding seed germination, and facilitating fruit and flower ripening.
According to SPER Market Research, the Europe Plant Growth Regulators Market, segmented by Type, Formulation, Function, and Crop Type, is anticipated to reach USD 3,224.26 million by 2033, with a CAGR of 6.62%.
The rise in resistance among certain pest and insect species is expected to boost the demand for PGRs. Over-reliance on pesticides often accelerates pesticide resistance in weeds, insects, and diseases. Repeated applications of the same pesticides initially eliminate vulnerable populations. However, extensive yearly applications lead to the survival and reproduction of resistant individuals, resulting in resistant populations and "superweeds" that are resistant to multiple herbicides, posing a significant challenge for farmers. Today, many regions face growing issues with herbicide-resistant weeds, impacting effective weed control. Research indicates that resistant black grass alone can reduce cereal crop yields significantly.
The prolonged approval process for PGRs, especially synthetic ones, largely stems from stringent regulatory requirements that necessitate multi-location field trials and consideration of residual effects. These rigorous procedures mean it can take over ten years and considerable financial investment to bring a new PGR to market. While patent protection and exclusivity encourage ongoing investment in research and development, these rising development costs and regulatory delays drive up retail prices, subsequently reducing farmers' profit margins and hindering growth in the agrochemical market.
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The COVID-19 pandemic has significantly disrupted the PGR market, affecting availability, import-export activities, supply, and demand across end-use sectors. The main impact has been an unprecedented imbalance in supply and demand due to distribution restrictions and temporary labor shortages, creating a considerable gap between production needs and workforce availability.
In Europe, Spain leads in PGR consumption, particularly for Cytokinins, Auxins, and similar compounds, followed closely by Germany. Key players in this market include Barclay Crop Protection, BASF FE, Bayer Crop Science, Corteva Agriscience, Nufarm Ltd., Redox Industries Ltd., among others.
Europe Plant Growth Regulators Market Segmentation:
By Type: Based on the Type, Europe Plant Growth Regulators Market is segmented as; Cytokinins, Auxins, Gibberellins, Ethylene Abscisic Acid.
By Formulation: Based on the Formulation, Europe Plant Growth Regulators Market is segmented as; Wettable Powders, Solutions.
By Function: Based on the Function, Europe Plant Growth Regulators Market is segmented as; Promoters, Inhibitors.
By Crop Type: Based on the Crop Type, Europe Plant Growth Regulators Market is segmented as; Cereal and Grains, Fruits and Vegetables.
By Region: This research also includes data for Germany, France, Spain, United Kingdom, Nordic, Russia, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: -
Europe Plant Growth Regulators Market Outlook
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