Brazil Plant Growth Regulators (PGRs) Market to Grow at CAGR of 6.85% through 2029
Technological advancements in farming practices
and increasing export of agricultural produce is expected to drive the Brazil
Plant Growth Regulators (PGRs) Market growth in the forecast period, 2025-2029
According to
TechSci Research report, “Brazil Plant Growth Regulators (PGRs) Market – By Region, Competition Forecast & Opportunities, 2019-2029F”,
the Brazil Plant Growth Regulators (PGRs) Market stood at USD 107.33
Million in
2023 and is anticipated to project steady growth in the forecast period with a
CAGR of 6.85%
through 2029. The
drivers of the Brazil Plant Growth Regulators (PGRs) market can be attributed
to a number of factors. The need for increased agricultural production due to
Brazil's growing population and global food demand is driving the demand for
PGRs. technological advancements in agriculture are fueling the adoption of
such regulators to enhance crop yield and quality.
The rising awareness among farmers about the benefits of PGRs and the
government's supportive policies for sustainable agricultural practices are
playing significant roles. The expanding organic farming sector in Brazil,
which requires eco-friendly and chemical-free farming methods, is also a key
driver for the PGRs market.
The Brazil Plant
Growth Regulators (PGRs) market is experiencing remarkable growth, primarily
driven by the surging demand for food propelled by the country's growing
population and the need for high agricultural productivity. As the demand for
agricultural produce continues to soar, PGRs play a pivotal role in Brazil's
agriculture industry. These substances exert their influence on the growth and
differentiation of plant cells, tissues, and organs, offering a multitude of
benefits such as increased crop yield, enhanced crop quality, and the potential
reduction of chemical pesticide use.
Brazil, renowned
as one of the leading agricultural economies, extensively employs PGRs to
escalate food production, positioning itself as a dominant player in the Latin
American PGRs market. The utilization of PGRs in Brazil spans across a wide
range of crops including grains, fruits, vegetables, and ornamental plants.
However, the market is witnessing a notable trend towards organic PGRs, driven
by an increased focus on environmentally friendly farming practices. This shift
is influenced by growing consumer awareness about the adverse effects of
synthetic PGRs on both health and the environment.
Despite the
immense potential for growth, the Brazil PGRs market encounters certain
challenges. Stringent regulatory norms on chemical use in agriculture pose a
hurdle, along with the high cost associated with the development and
registration of new PGRs. Another factor hindering market growth is the lack of
awareness among farmers regarding the proper application of PGRs. Despite these
obstacles, the market shows promise for further expansion, fueled by
advancements in biotechnology and the introduction of novel plant growth
regulators. Key market players are actively engaged in research and development
initiatives, aiming to innovate products and expand their portfolio, thus
fostering market expansion.
Government
initiatives promoting sustainable farming practices, coupled with increasing
investment in agricultural technology, create opportunities for the PGRs market
in Brazil. The rise in export-oriented agriculture driven by the
global demand for Brazilian agricultural products is expected to spur the
market's growth. In conclusion, the Brazil PGRs market is poised for consistent
growth, due to the country's robust agricultural sector, the rising demand
for food, the increasing adoption of sustainable farming practices, and the
advent of innovative agricultural technologies. However, to fully realize its
potential, it is crucial for the market to overcome existing challenges such as
regulatory constraints and the need for farmer education on the efficient use
of PGRs.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Brazil Plant Growth Regulators (PGRs) Market”
The Brazil Plant
Growth Regulators (PGRs) Market is segmented into type, crop type, function,
formulation, regional distribution, and company.
Based on Function, in the Brazil
Plant Growth Regulators (PGRs) Market, Stimulators hold a dominating position.
They are extensively used due to their effectiveness in promoting cell division
and growth, which results in improved crop yield and quality. This growth is
driven by the surging demand for high-quality agricultural products and a
growing awareness of sustainable farming practices within the country. The use of stimulators in the Brazil PGRs market has been supported by research
and development efforts focused on enhancing their efficacy and minimizing any
potential negative impacts on the environment. This has led to the introduction
of innovative formulations and application techniques, further solidifying the
position of stimulators as the preferred choice among farmers. Government initiatives promoting sustainable agriculture and the adoption of
advanced farming techniques have played a significant role in the increasing
adoption of stimulators in Brazil. These initiatives aim to address the
challenges posed by limited arable land, water scarcity, and the need to ensure
food security for the growing population. Overall, the dominance of stimulators
in the Brazil PGRs market is a result of their proven benefits in enhancing
crop productivity and quality. As the demand for high-quality agricultural
products continues to rise, the use of stimulators is expected to further
expand, contributing to the overall growth and development of the agricultural
sector in Brazil.
Major companies
operating in the Brazil Plant Growth Regulators (PGRs) Market are:
- Albaugh Brazil
- Sumitomo Chemical Brasil Indústria Química S.A.
- FMC Quimica do Brasil Ltda
- Bayer Cropscience do Brasil Ltda
- Nufarm do Brasil Ltda.
- BASF Brazil S.A.
- Syngenta Protecao de Cultivos Ltda.
- DuPont do Brasil S.A.
- Dow Brasil S.A.
- ADAMA Brazil
Download Free Sample Report
Customers can
also request 10% free customization on this report
“The future of
the Plant Growth Regulators (PGRs) market in Brazil looks promising, driven by
the growth in the agricultural sector and the increasing need for high-quality
crop yield. With the country's favorable conditions for extensive farming, the
use of PGRs is projected to rise. These regulators contribute to effective
plant growth management, leading to enhanced productivity. The
growing awareness among Brazilian farmers regarding the benefits of PGRs,
coupled with government initiatives promoting sustainable farming practices, is
anticipated to further propel the market.,” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“Brazil
Plant Growth Regulators (PGRs) Market
By Type (Auxin, Gibberellin, Cytokinin and Others), By Crop Type (Fruits &
Vegetables, Cereals & Grains, Oilseeds & Pulses and Turf &
Ornamentals), By Function (Stimulators, Promotors, Inhibitors, Retardants), By
Formulation (Water-Dispersible & Water-Soluble Granules, Solutions,
Wettable Powders, Tablets), By Region,
Competition, Forecast and Opportunities, 2019-2029F”,
has evaluated the future growth potential of Brazil 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 Brazil Plant Growth
Regulators (PGRs) Market.
Contact
TechSci
Research LLC
420
Lexington Avenue, Suite 300,
New York,
United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com