Growing Agriculture and Horticulture Sectors to Drive Plant Growth Regulators in India

Rising concerns towards health, rapid growth of horticulture industry and increasing investments in agriculture sector to drive India plant growth regulators market through 2023  

According to TechSci Research report, “India Plant Growth Regulators Market By Type, By Crop Type, By Chemical Formulation, Competition Forecast & Opportunities, 2013-2023’’, India plant growth regulators market is forecast to surpass $ 6.8 million by 2023, on the back of increasing demand for fruits and vegetables due to rising health concerns among people and booming horticulture sector in India. Moreover, various initiatives by the government like establishment of National Bank for Agriculture and Rural Development (NABARD) and ‘Niti Ayog Yojna’ to strengthen growth in agriculture sector is further likely to positively influence India plant growth regulators market. Additionally, rise in the production of cotton along with increasing inclination towards organic farming would further drive demand for plant growth regulators in the country in the coming years.

On the basis of type, plant growth regulators market is majorly segmented into Cytokinin, Gibberellins, Auxins, Ethylene and Others. Cytokinin garnered a dominant share in India plant growth regulators market in 2017 and is anticipated to maintain its dominance in the coming years as well on account of high demand for them in agriculture and horticulture due to their high efficiency and rising need for food security and weed supervision. South region accounted for the largest share in India plant growth regulators market owing to the presence of large number of agriculture and horticulture sector development facilities in the region.

“Rising population along with growing urbanization is increasing the consumption of agriculture products, which is pushing end use industries to increase their capacities, thereby accelerating growth in India plant growth regulators market in India. Moreover, rising government investments and initiatives to strengthen the country’s agriculture sector, coupled with rising focus on product innovations and technology advancements by plant growth regulator manufacturers would further steer growth in India plant growth regulators market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Plant Growth Regulators Market By Type, By Crop Type, By Chemical Formulation, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of plant growth regulators market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India plant growth regulators market.

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