North America Plant Growth Regulators Market North America Plant Growth Regulators Market Total Crop Production (Million Metric Tons) 2020 2021
Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) — The “North America Plant Growth Regulators Market Size and Share Analysis – Growth Trends and Forecasts (2023-2028)” has been added to ResearchAndMarkets.com’s offering.
Implementation of sustainable agriculture. The plant growth regulators (PGR) market in North America is expected to grow significantly, with a compound annual growth rate (CAGR) of 7.40% expected from 2023 to 2028. Driven by growing consumer demand for organic food and advances in sustainable agriculture, the market size is expected to increase significantly from approximately US$3.15 billion in 2023 to US$4.5 billion in 2028.
Plant growth regulators such as auxins, cytokinins, gibberellins and abscisic acid play important roles in crop production and help improve the productivity of the North American agricultural sector. While the organic food industry is experiencing a significant growth trajectory and government support for organic farming practices, the plant genetic resources market is also experiencing synchronized growth.
Growth of Organic Farming: The growth of organic farming practices is driving the demand for plant growth regulators. The growing preference for organic farming methods has given a decisive impetus to the development of the plant growth regulator market in North America. With vast organic lands, the United States leads the way in the development of plant genetic resources, further enhanced by research and product improvement initiatives from renowned companies and academic scientists.
The growth of greenhouse cultivation. The use of plant growth regulators in greenhouse production to control plant growth and improve productivity illustrates the dynamic nature of the market, driving innovation and increased use.
Increasing crop yields. Thanks to government support, such as significant income stabilization subsidies for farmers in the United States, the economic landscape of agriculture is changing, expanding the scope of markets for plant genetic resources and impacting crop profitability.
Increasing the profitability of agricultural crops. The strategic application of chemical plant growth regulators targeting flowering, fruiting and post-harvest stages of plant development marks a step forward in North America’s quest to increase crop productivity and profitability.
Market dynamics. In this fragmented industry, key players are engaged in strategic product development and targeted research to develop cost-effective and efficient PGR solutions to expand their market share. North American market leader PGR is committed to driving technological breakthroughs and protecting the environment.
Market dynamics driven by policy, consumer preferences and scientific advances paint an optimistic picture of the future of the plant growth regulator market in North America. With continued research support and a constant commitment to sustainable development, the synergistic growth of the agricultural sector and the plant genetic resources market is a trend worth following.
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Post time: Apr-02-2024