India plant growth regulators market is expected to grow at a steady rate during the forecast period. The Indian plant growth regulators (PGRs) market is driven by the growing need for food safety & security for meeting the demand of its ever-increasing population. This has increased the need to increase crop yield and prevent the product from any kind of damage caused by pests or other agents.
The Important Elements of the Indian Plant Growth Regulators Market
This in turn is expected to positively influence the market growth through 2025. Additionally, increasing incidences of a flood and draughts coupled with decreasing arable lands for cultivation has drastically increased the demand for PGRs. Moreover, advancements in farming techniques coupled with new product launches by the major player operating in the market are expected to create lucrative opportunities for market growth.
However, the high cost of PGRs can hamper the market growth during the forecast period. Additionally, the lack of awareness among the farmers pertaining to PGRs and their benefits further restricts the market growth. Furthermore, the sudden outbreak of the pandemic COVID-19 has led to lockdowns across the country shutting down the manufacturing of agrochemicals. This shall have a cascading effect on food production and crop yield. However, the government has eased the restrictions on manufacturing fertilizers and PGRs in order to maintain seasonal agricultural activities.
The Indian plant growth regulators (PGRs) market is segmented based on type, crop type, function, formulation, company, and region. Based on type, the market can be categorized into auxin, gibberellin, cytokinin, and others. The cytokinin segment is expected to dominate the market during the forecast period since it increases the capacity of plants to tolerate water deficiency by guarding the nitrogen and carbon integration process during stressful conditions. Additionally, cytokinin help in branching, and nutrient remobilization and facilitate the growth of flowers and seeds. Based on crop type, the market can be grouped into fruits & vegetables, cereals & grains, oilseeds & pulses, and turf & ornamentals.
The fruit & vegetables segment is expected to dominate the market owing to the increasing health awareness among the population and a shift towards organic food. Based on function, the market can be fragmented into stimulators, promotors, inhibitors, and retardants. The promoters segment is expected to dominate the market over the next few years on account of their increased use of fruits & vegetables to enhance the flowering process thereby increasing yield. Additionally, promoters help in the early stages of development thereby driving the growth of the segment.
The major players operating in the Indian plant growth regulators (PGRs) market
- BASF India Ltd.
- Dow Chemical Company
- Bayer India
- FMC India Pvt. Ltd.
- Dhanuka Agritech Ltd.
- Godrej Agrovet Limited
- Krishi Rasayan Exports Pvt. Ltd.
- Growtech Agri Science and Research Private Limited
- Bharat Rasayan Limited
- Aristo Biotech And Life Science Pvt. Ltd. and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report of India Plant Growth Regulators Market
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
The objective of the Study for the India Plant Growth Regulators Market
- To analyze and estimate the market size of India’s plant growth regulators (PGRs) market from 2015 to 2018.
- To estimate and forecast the market size of the India plant growth regulators (PGRs) market from 2019 to 2025 and the growth rate until 2025.
- To classify and forecast the Indian plant growth regulators (PGRs) market based on type, crop type, function, formulation, company, and regional distribution.
- To identify the dominant region or segment in the Indian plant growth regulators (PGRs) market.
- To identify drivers and challenges for the India plant growth regulators (PGRs) market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Indian plant growth regulators (PGRs) market.
- To conduct pricing analysis in the Indian plant growth regulators (PGRs) market.
- To identify and analyze the profile of leading players operating in the Indian plant growth regulators (PGRs) market.
- To identify key sustainable strategies adopted by market players in the Indian plant growth regulators (PGRs) market.
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TechSci Research performed both primary and exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels, and presence of all major players across the globe.
TechSci Research calculated the market size of the Indian plant growth regulators (PGRs) market using a bottom-up approach, wherein data for various end-user segments were recorded and forecast for the future years.
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TechSci Research sourced these values from industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience for India Plant Growth Regulators Market
- Plant growth regulators (PGRs) manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policymakers
- Organizations, forums, and alliances related to plant growth regulators (PGRs)
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, the Indian plant growth regulators (PGRs) market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- India Plant Growth Regulators (PGRs) Market, By Type:
- Auxin
- Gibberellin
- Cytokinin
- Others
- India Plant Growth Regulators (PGRs) Market, By Crop Type:
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Turf & Ornamentals
- India Plant Growth Regulators (PGRs) Market, By Function:
- Stimulators
- Promotors
- Inhibitors
- Retardants
- India Plant Growth Regulators (PGRs) Market, By Formulation:
- Water-Dispersible & Water-Soluble Granules
- Solutions
- Wettable Powders
- Tablets
- India Plant Growth Regulators (PGRs) Market, By Region:
- North
- South
- East
- West
