Growth in research and development activities is expected to drive the United Kingdom Plant Growth Regulators (PGRs) Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “United Kingdom Plant Growth Regulators (PGRs) Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the United Kingdom Plant Growth Regulators (PGRs) Market stood at USD283.74 million in 2022 and is anticipated to grow with a CAGR of 4.26% in the forecast period, 2023-2028. The initiatives taken by government based on plant growth regulators (PGRs) has led to favorable market conditions for the United Kingdom Plant Growth Regulators (PGRs) Market. Several factors contribute to the growth of various plant growth regulators (PGRs) market products.
One of these important initiatives is the “Plant Biosecurity Strategy for Great Britain (2023 to 2028)”. This strategy is a result of extensive collaboration between the UK government, the Scottish Government, and the Welsh Government, highlighting the collective commitment to safeguarding the country’s plant health. The strategy aims to protect against the introduction and spread of harmful pests and diseases, which pose a threat to the agricultural and horticultural sectors. By implementing effective measures, such as the use of PGRs, this strategy aims to ensure a resilient and sustainable plant biosecurity system.
Another significant initiative is the “Environmental Improvement Plan 2023”, which sets ambitious targets to address various pollution challenges in the air, waters, and on land. With a focus on improving the overall environmental quality, this plan emphasizes the need for sustainable agricultural practices. The use of PGRs aligns with this plan as they offer a valuable tool for enhancing crop yield and quality, while minimizing the environmental impact. By promoting the responsible and effective use of PGRs, this initiative aims to achieve a balance between agricultural productivity and environmental protection.
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Ongoing research and development (R&D) initiatives in the field of plant growth regulators (PGRs) are dedicated to the creation of highly effective and environmentally friendly products. These efforts have resulted in the introduction of innovative PGRs that possess the ability to regulate plant growth and development, stimulate plant metabolism, and fortify plants against a wide array of environmental stressors such as drought, temperature fluctuations, and pests. By harnessing the power of these advanced PGRs, the agricultural industry can optimize crop yield, improve resource efficiency, and contribute to sustainable farming practices.
The United Kingdom Plant Growth Regulators (PGRs) Market is segmented in type, crop type, formulation, regional distribution, and company.
Based on its crop type, the fruits & vegetables segment held the largest share in the market. In recent years, there has been a growing emphasis on sustainable farming practices, driven by the need to protect our environment and promote greener agricultural methods. As part of this global trend, the use of plant growth regulators (PGRs) in fruit and vegetable cultivation has gained significant attention. These PGRs offer farmers the opportunity to enhance crop yield and improve product quality, all while minimizing their impact on the environment. By utilizing these innovative solutions, farmers can strike a balance between productivity and sustainability, contributing to a more environmentally-friendly and efficient agricultural industry.
Based on region, London segment is expected to grow during the forecast period.
London’s dense population, coupled with the increasing demand for locally sourced and fresh produce, has led to the widespread use of Plant Growth Regulators (PGRs). In order to maximize yield within limited space, urban farming initiatives in the city heavily rely on PGRs. This strategic utilization of PGRs has played a pivotal role in establishing London’s dominance in the PGR market, solidifying its position as a thriving hub for sustainable urban agriculture.
Major companies operating in United Kingdom Plant Growth Regulators (PGRs) Market are:
- BASF UK Limited
- Bayer UK Limited
- Syngenta (UK) Limited
- Nufarm UK Limited
- Sumitomo Chemicals (UK) Plc.
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“Growing application of plant growth regulators (PGRs) in various end user industries are key drivers of the plant growth regulators (PGRs) market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of plant growth regulators (PGRs) with every passing year are anticipated to register an impressive growth to United Kingdom Plant Growth Regulators (PGRs) Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Plant Growth Regulators (PGRs) Market By Type (Auxin, Gibberellin, Cytokinin, Others), By Crop Type (Fruits & Vegetables, Cereals & Grains, Oilseeds & Pulses, Turf & Ornamentals), By Formulation (Water-Dispersible & Water-Soluble Granules, Solutions, Wettable Powders, Tablets), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of United Kingdom Plant Growth Regulators (PGRs) 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 United Kingdom Plant Growth Regulators (PGRs) Market.
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