Plant activators are chemicals that can trigger the defense systems of plants during abiotic or biotic stress conditions. The global plant activators market report by Market Research Future (MRFR) provides a summary of the report with salient factors of drivers, restraints, segments, and regions analysis for the period between 2019 and 2024 (forecast period). Top and bottom approaches have been used to estimate and validate the various predictions for the global market.
The global plant activators market is projected to garner revenue amounting to USD 880 million by 2024. It can exhibit a CAGR of 6% during the forecast period. Significant loss of crops due to conditions of drought, heat, and bacterial & fungal diseases is expected to drive the market demand. The evolution of farming techniques and improvements in integrated pest management methods can drive the market growth.
The rise in farming expenditure combined with subsidies provided to farmers for healthy cultivation of crops across developed nations is predicted to spur the global plant activators market. Awareness of the benefits of plant activators and investments in the agriculture sector can be lucrative for global market growth. The protection provided by plant activators can influence its sales highly globally. Cultivation of special plants and the use of protective chemicals to ward off pests can fuel the plant activators market.
However, challenges in the form of unavailability of products and dependence of farmers on chemicals can be detrimental to market growth.
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The global plant activators market has been segmented based on source, form, mode of application, and crop type.
By source, the global plant activators market has been classified as biological and chemical. Biological plant activators can dominate the market till the end of the forecast period owing to benefits of enhanced growth, effective pest, and insect management improved nutrient concentration, and high crop efficiency. In addition, high yield of crops with minimum damage to the environment can bolster the segment growth till 2024.
The global plant activators market has also been segregated, based on form into powder, granules, and liquid.
Based on the mode of application, the market has been segregated into foliar, soil treatment, and others. The foliar segment can enjoy massive growth in the coming years due to its ease of application as well as high effectiveness.
By crop type, the global plant activators market has been classified as fruits & vegetables, pulses & oilseeds, cereals & grains, and others. Cereals & grains is expected to be the biggest segment during the forecast period owing to the consumption of wheat and rice globally. On the other hand, fruits & vegetables can account for the lion’s market share owing to health-consciousness among consumers and high consumption rate. The export of fruits to other countries for trading is one of the prime factors driving the segment growth.
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are major regions that are the point of discussion with respect to the global plant activators market.
Europe held the largest market share in 2017 and is predicted to expand at a massive growth rate during the forecast period. Optimization of arable land is projected to be the prime factor driving the market growth. The long-term production rate of crops can drive the demand for plant activators till the end of the forecast period.
Gowan Company, Arysta LifeScience Corporation, Nihon Nohyaku Co. Ltd, Certis USA LLC, NutriAg Inc., Plant Health Care, BASF SE, Meiji Holdings Co. Ltd, Syngenta, Isagro, Future Bioscience SA, and Eagle Plant Protect Private Limited are reputed companies currently operating in the global compression therapy market.
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