Auxins Market - By Type (Natural, Synthesis) By Function (Fruit Development, Tissue Culture, Weed Control, Fruit Thinning, Phototropism and Gravitropism, Senescence Delay) By Application (Agriculture, Scientific Research, Others) & Forecast, 2024 - 2032

Auxins market size is set to observe over 4.3% CAGR between 2024 and 2032, driven by the rising demand for enhanced agricultural productivity and the necessity for sustainable farming practices. As a class of plant hormones, auxins help in the regulation of plant growth and development, including cell expansion, root development, and fruit development. They are widely used in agriculture to improve rooting of crop cuttings, stimulate seed germination, and promote uniform flowering and seed production, which in combination contribute to higher crop yields. For instance, in April 2024, Bayer launched its first bioinsecticide product for arable crops.

Rapid advancements in plant biotechnology and agricultural research will further drive the market growth. Ongoing research efforts are focused on understanding the specific mechanisms of auxin action and the development of new, more efficient, and targeted compounds. The incorporation of auxin into other plant growth regulators and biostimulants is also gaining ground growth for offering complementary benefits that promote overall plant health and resilience to environmental stress.

The auxins industry is segmented into type, function, application and region.

Based on function, the market share from the tissue culture segment will record significant growth rate between 2024 and 2032, due to adoption in micropropagation and plant tissue culture techniques. Auxins are required for cell division, proliferation, and differentiation, which are essential components of efficient tissue culture expansion. Initial rooting and shoot growth from the explants are also facilitated, resulting in excellent plant proliferation. As tissue engineering techniques are increasingly used for disease-free, genetically identical plants, the demand for high-quality auxins will continue to grow, especially in horticulture, agriculture, and forestry.

Auxins industry from the scientific research application segment will witness a strong growth rate throughout 2024-2032, favored by strong need for studying their role in plant physiology and development for agricultural advancements. Researchers are using auxin to explore fundamental processes, such as cell division, differentiation, and the generation of biological products, which are critical to the advancement of agricultural biotechnology. Scientific research is also driving innovations in synthetic auxins with specific properties designed for different agricultural products. Continuous advancements and discoveries in plant biology facilitated by auxin research are contributing to the segment growth.

Asia Pacific auxins industry size will witness rapid expansion during the forecast period, attributed to rapid agricultural development, and increasing focus on high-value crops. China and India are experiencing significant expansion in horticulture and floriculture, where auxin is increasingly used to improve plant propagation and crop quality. Higher demand for food security due to growing population demands is also helping to maximize agricultural productivity. To that end, government policies supporting modern agricultural practices and investments in biotechnology research to support the development and application of new auxin compounds are stimulating the regional market growth.