North America Plant Growth Regulators Market was worth USD 1300.4 million in 2021 and estimated to be growing at a CAGR of 4.09%, to reach USD 1600.33 million by 2026. Plant growth regulators are chemical substances that affect the growth of plants in many complex ways. They regulate important activities such as cell division, shoot growth, and flowering.
Plant growth regulators are naturally occurring components that control the development and progress of plants. Some of them like cytokinins and auxins are man-made artificial growth regulators which are employed on plants to get a multitude of changes. Several of the plant growth regulators are prepared by the tissues of the plant.
Drivers and Restraints:
The growth of the North America Plant Growth Regulators market is majorly due to factors such as the increasing need for enhanced crop productivity, growing textile industry, and increasing demand for cotton. The initiatives taken by the government are another major factor driving the market in this region. However, factors such as less awareness among the farmers, few product innovations, and lower output of Plant growth regulators when compared to chemical fertilizers are restraining the growth of the market in this region.
The North America market has been geographically segmented into segmented into
The demand for plant growth regulators has been extremely prevalent in North America owing to the swiftly developing organic farming industry combined with the massive cotton industry, especially in the United States.
The main policies implemented by the companies to increase their market share in the plant growth regulators market are new products, and mergers & acquisitions. The strategy of efficient and strong yielding products would lead to improved user gratification. The major companies dominating the Plant Growth Regulators market in this region are BASF SE, Bayer Crop Science, DuPont, FMC Corporation, Tata Chemicals Limited, and Xinyi Industrial Co Ltd.
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