United Kingdom Plant Growth Regulators (PGRs) Market to Grow with a CAGR of 4.26% through 2028
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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"United Kingdom Plant Growth Regulators (PGRs) Market”
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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