Rising Pressure to Improve the Yield is Driving PGR market.
Globally on average around 40% of the total crop produce has been lost due to infestations from pests, weeds and diseases. On the other hand, the demand for food crops is expected to increase in the future owing mainly to the rising global population and increase in per capita consumption. This increasing demand can be met either by increasing the yield of food crops or increasing the land under cultivation. However, the land resources are limited and the potential to increase area under cultivation is highly challenging as the arable land is decreasing. To overcome such problems crop protection chemicals are used to control the damage and enhance the productivity. These chemicals are applied on crops to protect them from pest, weeds and other parasites. There are various types of crop protection chemicals used by the farming community such as fungicides, herbicides, insecticides, plant growth regulators
, rodenticides and others.
Plant growth regulator also known as bio-stimulants or bio-inhibitors is an organic compound that controls the growth and development of plant through modification of various physiological attributes of the plant. Plant growth regulators were first used in early 1930’s in the U.S. With the increasing mechanization in agricultural techniques plant growth regulators are gaining significance as they play a vital role to enhance crop production during various stages from germination to harvest and also post-harvest preservation. The plant growth regulators are classified into five major types namely Cytokinins, Auxins, Ethylene, Gibberellins, Mepiquat chloride. PGR’s market was valued at $1.3 billion in 2014 and projected to grow at a healthy rate in coming years owing to the constant need to improve the quality and quantity of food to meet the needs of rapidly growing population.
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