Ethylene Releasing Compounds Market

The Ethylene Releasing Compounds Market size is estimated to reach US$170 million by 2027, after growing at a CAGR of 5.6% during the forecast period 2022-2027. The growth of the ethylene releasing compounds market will be highly influenced by surging demand from the agriculture industry. Ethylene Releasing Compounds are plant growth regulators, which are widely utilized as agrochemicals for releasing ethylene gas to speed up the ripening and plant growth regulation. In addition, the flourished base for various ethylene compounds in the agricultural sector is rising due to the rising cereals production and organic farming trends. For instance, according to the India Brand Equity Foundation (IBEF), the agriculture sector in India is expected to reach US$24 billion by 2025. The growing agriculture industry owing to rising production of fruits & vegetables, cereals and others along with an emphasis on organic farming is fueling the growth scope for the ethylene releasing compounds industry. 

Ethylene Releasing Compounds Market: Leading Segment is the Fruits & Vegetables Sector

Based on the end-use industry, the ethylene releasing compounds market can be segmented into fruits & vegetables, turf & ornamental, cereal grains, oilseed & pulses & and others. The leading segment in the ethylene releasing compounds industry has been evaluated to be the fruits & vegetable industry. During the forecast period 2022-2027, the fruits & vegetable sector is projected to grow with a CAGR of 5.8%. This can be attributed to growth factors such as a significant upsurge in demand for smart home electrical appliances, growth in production and industrialization.

For instance, the Department of Agriculture Cooperation and Farmers Welfare allocated US$15.48 billion in 2021-22 to boost agricultural activities in India. Thus, the ethylene releasing compounds industry will grow significantly as a result of emerging applications of ethylene releasing compounds in the fruits & vegetables sector over the forecast period.

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Ethylene Releasing Compounds Market: Leading Region is Europe

Based on geography, the Ethylene Releasing Compounds market can be segmented into North America, South America, Europe, APAC and ROW. According to IndustryARC's analysis, Europe has emerged as the most prosperous region. In 2021, Europe held a 41.3% share of the total revenues earned by the market globally. The Europe region is estimated to grow rapidly due to the established production base for agriculture, favorable policies supporting agriculture and surging trade activities. The agriculture sector is lucratively growing in Europe due to organic farming trends and supportive policies favoring agricultural production.

For instance, according to the United States Department of Agriculture (USDA), wheat production in European Union was estimated at 136.1 million metric tons in 2022, marking an increase of 3% over the five-year average of 132.7 million metric tons. With robust growth scope for ethylene releasing compounds in the agriculture sector for cereals, fruits & vegetables, oilseeds and others across APAC countries, the ethylene releasing compounds industry will emerge significantly in over the forecast period. The ethylene-releasing compounds market will also gain demand from the North American and APAC region. The U.S, Canada, China, India and others are emerging countries in the ethylene releasing compounds industry.

Ethylene Releasing Compounds Market: Competitive Landscape

Key companies holding major shares in the Ethylene Releasing Compounds market are Dow Agro Sciences LLC, Canary Agro Chemicals Private Limited, E.l. DuPont de Nemours, ADAMA Agricultural Solutions Ltd., Monsanto Company, FMC Corporation, Nufarm, BASF, Bayer Crop Science Limited and Sumitomo Chemicals.