Global Paclobutrazol Market - 2023-2030

Overview

Global Paclobutrazol Market reached US$ 3.18 billion in 2022 and is expected to reach US$ 4.99 billion by 2030, growing with a CAGR of 5.82% during the forecast period 2023-2030.

The global paclobutrazol market has witnessed significant growth and transformations over the years, farmers are highly adopting these as plant growth regulators as they help improve the concentration of photosynthetic pigments, minerals, and carbohydrates. Hence, such factors help in driving the global paclobutrazol market.

Furthermore, paclobutrazol is highly used in horticulture production, as the demand for horticulture is increasing. For instance, according to the Department of Agriculture & Farmers Welfare report, India is currently producing about 320.48 million tones of horticulture produce, due to the launch of the National Horticulture Mission has spurred the production and productivity of horticultural crops. Productivity of horticulture crops has increased by about 38.5% between 2004-05 and 2021-22. Hence, it can help in increasing the market growth.

The paclobutrazol 23%Sc segment accounts for over half of the market share. Similarly, the Asia-Pacific dominates the Paclobutrazol market, capturing the largest market share. India remains the largest consumer and producer of paclobutrazol as the demand for horticulture is increasing in this region.

Dynamics

Increased Demand for High-Quality Crops

The demand for high-quality crops is increasing. For instance, according to the National Horticulture Database published by the National Horticulture Board, during 2021-22, India produced 107.24 million metric tonnes of fruits and 204.84 million metric tonnes of vegetables. The area under cultivation of fruits stood at 7.05 million hectares while vegetables were cultivated at 11.35 million hectares.

Furthermore, as the demand for high-quality crops is increasing, many farmers are adopting these as plant growth regulators as they help optimize crop yields and enhance the quality of agricultural and horticultural products. Hence, such factors can help in increasing the market growth.

Raising Demand for Effective Crop Management

The demand for crop management is increasing among the farmers which increases the demand for paclobutrazol, as they act as plant growth regulators which help in managing the plant height and overall size, making it easier for farmers to achieve the desired crop structure. Hence, such factors help in increasing the market growth.

Furthermore, as the demand is increasing many manufacturing companies are focusing on producing high-quality innovative products. For instance, Zagro company produces Paclobutrazol, which acts as a plant growth regulator taken up into the xylem through the leaves, stems, or roots, and translocated to growing sub-apical meristems. Hence, such products can help in increasing the market growth.

Adverse Health Effects

Adverse health effects can restrain the global paclobutrazol market growth, according to a National Institutes of Health report, these plant growth regulators can cause toxic effects on the embryonic development of digestive organs and retinal photoreceptor cells and can cause thyroid endocrine disorder. Hence, such adverse effects can hamper the market growth.

Segment Analysis

The global paclobutrazol market is segmented based on type, distribution channel, application and region.

Increase in Demand for effective Plant Nutrition

The paclobutrazol 23%SC segment holds the maximum share in the global paclobutrazol market. Farmers are highly adopting these plant growth regulators as they help promote flowering and fruit sets, this also helps in improving the quality of crops and increasing in producing higher yields. Hence, such factors can help in increasing the market growth.

Furthermore, as the demand is increasing among farmers many manufacturing companies are investing more in high-quality paclobutrazol products. For instance, Katyayani Organics company produces paclobutrazol 23% Sc which acts as a plant growth regulator, which helps in the development of fruits and increases yield maturation. Hence, such factors help in increasing the market growth.

Geographical Penetration

High Production in Asia-Pacific

Asia-Pacific has been a dominant force in the global paclobutrazol market and its significance has only grown in the post-2020 era. Farmers in this region are highly adopting these plant growth regulators as they help promote the growth of flowering and fruit set and improves the quality of crops. Hence, such factors can help in increasing the market growth in this region.

Furthermore, the demand for horticulture is increasing in this region. For instance, according to the Ministry of Agriculture & Farmers Welfare, Total Horticulture production in 2021-22 is estimated to be 341.63 million tons, an increase of about 7.03 million tons over 2020-21. Hence, such factors can help in increasing the market in this region.

Additionally, as the demand is increasing in this region many manufacturing companies such as Katyayani Organics, are highly focused on producing innovative high-quality products in order to attract larger consumer bases and increase the availability of products in the market, which helps in increasing the market growth in this region.

Competitive Landscape

The major global players in the market include Katyayani Organics, Zagro, Peptech Biosciences Ltd., Star Chemicals, HPM Chemicals & Fertilizers Ltd., Parijat Industries Pvt. Ltd, Shree Organics, Eagle Plant Protect Private Limited, Canary agro chemicals private limited, and R.V. Agri corporation.

COVID-19 Impact Analysis

The pandemic has brought unprecedented challenges for industries worldwide, including the global paclobutrazol market, many manufacturing companies have shut down due to government lockdown restrictions, which have led to reduced availability of products in the market, this has led to a decrease in the market growth.

By Type

• Paclobutrazol 95% TC
• Paclobutrazol 98% TC
• Paclobutrazol 23%SC
• Others

By Distribution Channel

• E-Commerce
• Hypermarkets/Supermarkets
• Specialty Stores
• Others

By Application

• Cash Crops
• Decorative Plants
• Fruits and Vegetables
• Grains and Cereals
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In September 2022, Nouryon acquired ADOM Fertilizers, a leading supplier of chelated micronutrients, foliars, and other specialty fertilizers. The acquisition will enable Nouryon to expand its product portfolio and broaden its offerings for customers in the crop nutrition market.
• In January 2021, Sumitomo Chemical had acquire FBSciences Holdings, Inc. ("FBS"), a U.S. company, a group of naturally-derived agricultural materials, and a class of biorationals to grow their fertilizers business. The acquisition is due to be completed subject to the prescribed procedures.
• In November 2023, Azelis, a leading global innovation service provider in the specialty chemicals and food ingredients industry, announced an acquisition 100% of the shares of Agspec Australia Pty Ltd ('Agspec'), a leading distributor of crop nutrition, crop protection and specialty agricultural products in Australia.

Why Purchase the Report?

• To visualize the global paclobutrazol market segmentation based on type, distribution channel, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of paclobutrazol market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global paclobutrazol market report would provide approximately 61 tables, 61 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies