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Saudi Arabia Plant Growth Regulators Market

Saudi Arabia Plant Growth Regulators Market, By Product Type (Cytokinins, Auxins, Gibberellins, Ethylene, Abscisic acid, Vitamins, and Others); By Crop Type (Fruits and vegetables, Turf and ornamentals, Cereals & grains [Wheat, Rice, Corn, and Others], Oilseeds & Pulses [Cotton seed, Soya bean, Sunflower, and Others], and Others); By Formulations (Water-Dispersible & Water Soluble, Wettable Powders, and Solutions); By Function (Plant Growth Promoters and Plant Growth Inhibitors) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: November 2021
  • Report ID: BWC21184
  • Available Format: PDF
  • Page: 104

Report Overview

Chemical substances that control all aspects of plant growth and development are called plant growth regulators. Saudi Arabia plant growth regulators' market is driven by factors such as increased fruit and vegetable production and demand for organic plant growth methods. Another indirect factor expected to foster market expansion over the forecast period is an increased focus on enhancing crop output to achieve self-sufficiency.

Saudi Arabia Plant Growth Regulators Market- Industry Trends & Forecast Report 2027

The Saudi Arabia plant growth regulators market is estimated to grow at a CAGR of 7.0% during the forecast period (2021-2027). Factors such as rising demand for organic plant growth methods and increased fruit and vegetable production propel the plant growth regulators' market forward. Additionally, the growing demand from the brewery industry has a direct and beneficial impact on the market's growth rate. Another indirect factor expected to foster market expansion over the forecast period is an increased focus on enhancing crop output to achieve self-sufficiency.

Saudi Arabia Plant Growth Regulators Market Overview

Plant Growth Regulators (PGRs), also known as phytohormones (auxins, cytokinins, gibberellins, abscisic acid, ethylene, salicylic acid, jasmonates, and brassinosteroids), are a diverse group of chemicals that control plant growth and development as well as stress responses at very low concentrations. For instance, endogenous phytohormones facilitate adaptation to a variety of environments by activating signal transduction pathways that activate stress-related genes, proteins, and metabolites.

PGRs (plant growth regulators) are synthetic phytohormones that have been utilized in agriculture for decades. In the upcoming years, the PGRs market is likely to be fueled by a shift toward sustainable management techniques and expanding trends toward organic farming, backyard gardening, and indoor farming.

Saudi Arabia Plant Growth Regulators Market Trend

Growth Drivers

Investment and Support from the Government is Driving the Market

Saudi Arabia imports a significant amount of cereals, meat, dairy products, fruits, and vegetables. As the country's food demand grows, agricultural production is becoming more important. The Saudi government is looking to promote the integration and development of new technologies to move towards self-sufficiency. The government is also promoting the R&D of new seeds to develop drought-resistant trees to battle the lack of rain in the area. For instance, in 2015 a team of Saudi Arabia’s Riyadh Development Authority and scientists from Kings Park, Australia, conducted a trial where they treated acacia plants seedings with the plant hormone salicylic acid. The plant from the treated seeds defended them against a harmful form of oxygen and cut water loss from leaves. The project was developed to tackle the desertification of Saudi Arabia.

Additionally, the investment in plant growth regulators has also supported the growth of organic farming in Saudi Arabia. According to the Director of the Organic Production Department at the Ministry of Environment, Water and Agriculture, Saudi Arabia’s organic farming increased by 27.7% in 2020. Plant growth regulators are allowing Saudi farmers to grow crops with less water and enhanced protection against a harmful form of oxygen. The government has a USD 200 million plan in place to promote organic farming in the country and it is expected to create a growing demand for plant growth regulators in the country and drive the growth of the market during the forecast period.

Restraints

Long Approval Process for New Products is Restricting the Market Growth

The market approval process is time-consuming and lengthy due to residual effects and field experiments. Long regulatory approval processes hinder the market's expansion. Patent and exclusivity protection are also necessary to attract future investments and recoup research and development expenses. The increasing cost of production leads to an increase in the product's price. Thereby hampering the market’s growth. Moreover, decreased profit margins and restricting the growth of the market.

Impact of COVID-19 on Saudi Arabia Plant Growth Regulators Market

The COVID-19 pandemic has had a moderate impact on the Saudi Arabia agriculture industry. By utilizing capital-intensive processing techniques for staple crops, labor shortages have been avoided and production efficiency has been maintained. A global leader in wheat and flour storage, Saudi Arabia has a storage capacity of more than 3.3 million tons and a supply chain that ensures consumers' daily needs are met, which has helped mitigate problems related to COVID-19. Saudi Arabia witnessed a growth in organic farming in 2020 which led to an increased demand for plant growth regulators (PGRs) in the country. As per the Director of the Organic Production Department at the Ministry of Environment, Water, and Agriculture, Saudi Arabia’s organic farming area increased from 24,517.89 hectares in 2019 to 26,632.48 hectares in 2020. Additionally, the Ministry of Environment, Water, and Agriculture announced in March 2020 that the country has achieved a self-sufficiency rate of around 60% vegetable production with fruits and citrus self-sufficiency increasing from 15% in 2016 to 35%. Nevertheless, the pandemic created disruptions across the entire supply chain and the slow vaccination rate has led to a slow recovery of the market. Analysts predict that it may take some time for the market to return to pre-pandemic levels.

Saudi Arabia Plant Growth Regulators Market: By Crop Type

Based on crop types, the Saudi Arabia plant growth regulators market is segmented into fruits & vegetables, turf & ornamentals, cereals & grains, oilseeds & pulses, and others. Among these, the fruits & vegetables segment accounted for the largest market share in 2020 and is likely to dominate the segment during the forecast period. The growth of this segment is attributable to variables, such as increasing consumer health consciousness and rising income levels. Additionally, fruit and vegetable demand is growing in Saudi Arabia as customers seek out healthier, more nutritious eating options.

Saudi Arabia Biodegradable Plastics Market

Source: BlueWeave Consulting

Saudi Arabia Plant Growth Regulators Market: By Function

Based on functions, the Saudi Arabia plant growth regulators market is segmented into plant growth promoters, and plant growth inhibitors. The plant growth promoters segment accounted for the largest market share in 2020 and is likely to dominate the segment during the forecast period as well. Plant growth promoters promote cell division, cell enlargement, flowering, fruiting, and seed formation in plants. One type of plant growth promoter is Rhizobacteria (PGPR). It helps a plant absorb water and nutrients, improve root development, and increase enzymatic activity. It further promotes other microorganisms in a synergistic way, enhancing their effects on plants, such as promoting plant growth or suppressing pathogens. Therefore, the growing use of plant growth regulators due to their advantages is fuelling the demand for the market during the forecast period.

Competitive Landscape

The plant growth regulators market is highly fragmented due to the presence of limited domestic and international players. Additionally, the emergence of new players has resulted in healthier competition among long-established service providers in the industry. Some key players in the Saudi Arabia plant growth regulators market are Evogene, Kaiima, Hazera Genetics, BioBee, Agro-Shelef, Rootility, and other prominent players.

 

Recent Development

  • In August 2021, Red Sea Farms, a Saudi AgTech start-up, raised USD 16 million in an oversubscribed investment round. The funding will further help the company expand its operations in Saudi Arabia and stimulate its growth plans in the Middle East and North America. Red Sea Farm's unique technology, which allows commercial farming to use salt water and solar energy, has proven popular in desert regions where fresh water is scarce, but sunlight is abundant.

 

  • In March 2021, Salic and United Farms Investment Company group chief executive Sulaiman AlRumaih stated that Salic, which owns a 29% controlling interest in LT Foods subsidiary Daawat Foods, would increase investments in the Indian agricultural landscape. Salic, which is wholly owned by Public Investment Fund, plans to invest in agrarian operations and livestock creation by partnering with governments in "various geographic zones," according to the organization.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Product/Service Segmentation

By Product Type, By Crop Type, By Formulations, and By Function

Key Players

Key Players for the market are Evogene, Kaiima, Hazera Genetics, BioBee, Agro-Shelef, Rootility, and other prominent players.

 

  • By Product Type
        • Cytokinins
        • Auxins
        • Gibberellins
        • Ethylene
        • Abscisic acid
        • Vitamins
        • Others
  • By Crop Type
        • Fruits and vegetables
        • Turf and ornamentals
        • Cereals & grains
          • Wheat
          • Rice
          • Corn
          • Others
        • Oilseeds & Pulses
          • Cotton seed
          • Soya bean
          • Sunflower
          • Others
        • Others
  • By Formulations
        • Water-Dispersible & Water Soluble
        • Wettable Powders
        • Solutions
  • By Function
        • Plant Growth Promoters
        • Plant Growth Inhibitors
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Application
      2. Secondary Research
      3. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Saudi Arabia Plant Growth Regulators Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Recent Development
    4. Technological Advancements
    5. Regulatory Framework
    6. Porter’s Five Forces Analysis
      1. Bargaining Application of Suppliers
      2. Bargaining Application of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Saudi Arabia Plant Growth Regulators Market Overview
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
    2. Market Share & Forecast
      1. By Product Type
        1. Cytokinins
        2. Auxins
        3. Gibberellins
        4. Ethylene
        5. Abscisic acid
        6. Vitamins
        7. Others
      2. By Crop Type
        1. Fruits and vegetables
        2. Turf and ornamentals
        3. Cereals & grains
          1. Wheat
          2. Rice
          3. Corn
          4. Others
        4. Oilseeds & Pulses
          1. Cotton seed
          2. Soya bean
          3. Sunflower
          4. Others
        5. Others
      3. By Formulations
        1. Water-Dispersible & Water Soluble
        2. Wettable Powders
        3. Solutions
      4. By Function
        1. Plant Growth Promoters
        2. Plant Growth Inhibitors
  6. Competitive Landscape
    1. Company Market Share Analysis, 2020
    2. Competitive Benchmarking, By Product Offerings
    3. List of Key Players and their Offerings
  7. Impact of COVID-19 across Industry
  8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Evogene
    2. Kaiima
    3. Hazera Genetics
    4. BioBee
    5. Agro-Shelef
    6. Rootility
    7. Other Prominent Players
  9. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable.

 

List of Figures

 

Fig 1: Saudi Arabia Plant Growth Regulators Segmentation

Fig 2: Saudi Arabia Plant Growth Regulators Market Value Chain Analysis

Fig 3: Company Market Share Analysis, 2020

Fig 3: Saudi Arabia Plant Growth Regulators Market Size, By Value (USD Billion), 2017-2027

Fig 4: Saudi Arabia Plant Growth Regulators Market Share, By Product Type, By Value, 2017-2027

Fig 5: Saudi Arabia Plant Growth Regulators Market Share, By Crop Type, By Value, 2017-2027

Fig 6: Saudi Arabia Plant Growth Regulators Market Share, By Formulations, By Value, 2017-2027

Fig 7: Saudi Arabia Plant Growth Regulators Market Share, By Function, By Value, 2017-2027

 

List of Tables

 

Table 1: Saudi Arabia Plant Growth Regulators Size, By Form, By Value, 2017-2027

Table 2: Saudi Arabia Plant Growth Regulators Market Size, By Type, By Value, 2017-2027

Table 3: Saudi Arabia Plant Growth Regulators Market Size, By Crop Type, By Value, 2017-2027

Table 4: Saudi Arabia Plant Growth Regulators Market Size, By Formulations, By Value, 2017-2027

Table 5: Saudi Arabia Plant Growth Regulators Market Size, By Function, By Value, 2017-2027

Table 6: Evogene Business Overview

Table 7: Evogene Financial Analysis

Table 8: Kaiima Business Overview

Table 9: Kaiima Financial Analysis

Table 10: Hazera Genetics Business Overview

Table 11: Hazera Genetics Financial Analysis

Table 12: BioBee Business Overview

Table 13: BioBee Financial Analysis

Table 14: Agro-Shelef Business Overview

Table 15: Agro-Shelef Financial Analysis

Table 16: Rootility Business Overview

Table 17: Rootility Financial Analysis

 

Market Segmentation

  • By Product Type
        • Cytokinins
        • Auxins
        • Gibberellins
        • Ethylene
        • Abscisic acid
        • Vitamins
        • Others
  • By Crop Type
        • Fruits and vegetables
        • Turf and ornamentals
        • Cereals & grains
          • Wheat
          • Rice
          • Corn
          • Others
        • Oilseeds & Pulses
          • Cotton seed
          • Soya bean
          • Sunflower
          • Others
        • Others
  • By Formulations
        • Water-Dispersible & Water Soluble
        • Wettable Powders
        • Solutions
  • By Function
        • Plant Growth Promoters
        • Plant Growth Inhibitors
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Frequently Asked Questions:

Ans: Saudi Arabia plant growth regulators market is estimated to grow at a CAGR of 7.0% during the forecast period (2021-2027).
Ans: The market for plant growth regulators is driven by factors such as the growing demand for organic plant growth methods and increased fruit and vegetable production. Another indirect factor expected to foster market growth over the forecast period is an increased focus on enhancing crop output to achieve self-sufficiency.
Ans: The key players in the Saudi Arabia plant growth regulators market are Evogene, Kaiima, Hazera Genetics, BioBee, Agro-Shelef, Rootility, and other prominent players.
Ans: Based on formulations, the water-dispersible & water-soluble granules segment accounted for the highest CAGR during the forecast period in the Saudi Arabia plant growth regulators market.
Ans: Based on product type, the cytokinins segment accounted for the largest share in the Saudi Arabia plant growth regulators market.