“The Latin America Plant Growth Regulators Market was valued around US$ XX Mn by 2018 and growing at a prominent growth rate over the forecast years 2019-2025 owing to surge in agriculture production coupled with increase in awareness about the organic farming”
The Latin America plant growth regulators market was valued at US$ XX Mn in 2018 and increasing at a significant growth rate over the forecast years due to grow in the agriculture production and rise in consumer preference towards the adoption of healthy food products . Moreover, increase in investment in the agriculture sector in emerging countries, government support for increasing the crop yield, and launch of newer plant growth regulators are drive the Latin America plant growth regulators market over the forecast years. However, lack of awareness and proper guidance for the use of plant growth regulators in rural areas, customers shift towards the alternative products such as agrochemicals for the plant growth regulation, and stringent regulations towards the usage of chemicals are limit the growth of Latin America plant growth regulators market over the future years.
Latin America Plant Growth Regulators market segmented on the basis of product type, application, crop type, formulation, and country
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Homo-fermentative Plant Growth Regulators Dominate the Latin America Plant Growth Regulators Market
Based on the product type, Latin America plant growth regulators market segmented into Cytokinins, Gibberellins, Auxins, Ethylene, and Others. Cytokinins market growing at a significant CAGR owing to wide range of applications such as dormancy breaking, cell division, delay in the senescence, and act as a growth stimulator in majority of the crops. However, Ethylene recorded a prominent growth over the historical years owing to increase in the usage of Ethylene in fruit market for ripening purpose.
Brazil Leads the Latin America Plant Growth Regulators market
PBI’s Latin America plant growth regulators market report analyses the market in different regions such as Brazil, Mexico, Argentina, and Venezuela. According to country analysis, Brazil accounted for larger revenue share through 2014-2018 and expected to dominate over 2019-2025 owing to increase in the awareness about plant growth regulators coupled with rise in focus on the increase in crop yield by agriculture farmers. Moreover. Mexico plant growth regulators market projected to exhibit significant growth due to adoption of organic agriculture farming techniques, increase in the disposable income, and rise in agriculture investments are expected to bolster the market.
Launch of newer products, frequent product approvals, and strategic alliances are the key strategies adopted by market players
Latin America plant growth regulators market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In October 2014, Valent USA Corporation launched plant growth regulator ProGibb LV Plus, a liquid Giberellic Acid product.
Key player’s profiles in the report are BASF SE, Bayer Crop Science, DuPont, FMC Corporation, Tata Chemicals Limited, Xinyi Industrial Co Ltd.
Precision Business Insights (PBI) in its report titled “Latin America Plant Growth Regulators Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
Detailed Segmentation
By Product Type
o Cytokinins
o Gibberellins
o Auxins
o Ethylene
o Others
By Application
o Plant Growth Inhibitors
o Plant Growth Regulators
By Crop Type
o Oilseeds and Pulses
o Cereals and Grains
o Fruits and vegetables
o Others
By Formulation
o Wettable Powders
o Water Dispersible and Water Soluble Granules
o Solutions
Geography
o Latin America
• Brazil
• Mexico
• Argentina
• Venezuela
• Rest of Latin America
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