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

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, also known as phytohormones, are a diverse group of hormones, such as auxins, cytokinins, gibberellins, abscisic acid, ethylene, salicylic acid, jasmonates, and brassinosteroids that control plant growth as well as stress responses at very low concentrations. Saudi Arabia’s agribusiness has been utilizing plant growth regulators for decades. The country’s plant growth regulators market is likely to be bolstered by the growing trend toward organic farming, backyard gardening, and indoor farming in the coming years.

Saudi Arabia Plant Growth Regulators Market Trend

Growth Drivers

Investment and Support From the Government is Driving the Market

Saudi Arabia's Riyadh Development Authority team and scientists from Kings Park, Australia, conducted a trial in 2015 where they treated acacia plant seedlings with the plant hormone salicylic acid. It defended the seeds from harmful oxygen and reduced water loss from the leaves. The project was developed to tackle the desertification of Saudi Arabia. The advantages of DMC over solvents in paints and coatings include no environmental impact, no release of volatile organic compounds, and no toxicity concerns.

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. 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, which in turn hinders 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 are also restricting the growth of the market.

Impact of COVID-19

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. Saudi Arabia witnessed a growth in organic farming in 2020 which led to an increased demand for plant growth regulators in the country. It also witnessed a growth in organic farming in 2020 which led to an increased demand for plant growth regulators 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 has created disruptions across the entire supply chain. 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.

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. Rhizobacteria (PGPR) is one type of plant growth promoter, helping plants absorb water and nutrients, improve root development, and increase enzyme production. 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 likely to strengthen 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