Plant Growth Regulators Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Russia, China, Japan, India, Thailand, Indonesia, Malaysia, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1962
Plant Growth Regulators Market size is anticipated to observe a surge in demand due to its efficient functioning as a messenger for intercellular communication. They are used to regulate development of crops and plays vital role in ensuring agricultural productivity. They do not cause any harm to humans as they are used in accordance with good agricultural activities. This technology is viewed as a business opportunity to enhance product quality and associated safety purposes.
Rise in agriculture investments will drive plant growth regulators market size. The technology is used to understand crop development and productivity. It has several advantages over fertilizers that include increased yield, simple application and reduced labor cost. The procedure is easy and cost effective for boosting crop output under farmer’s field condition. Technology helps farmers by making work easier and more productive.
Increasing consumer awareness towards health and fitness has accelerated demand for fruits and vegetables. Technology helps to reduce fruit drop, crop stress protection and root formation. This in turn will uplift plant growth regulators market size over the forecasted period.
Horticulture industry is growing at a very fast pace. This branch of agricultural deals with science, technology and business of growing crops. Increasing demand for medicated crops, seeds, sprouts, mushroom and flowers has fueled horticulture industry and has positively influenced plant growth regulators market.
Trend for gardens and farming in houses has tremendously increased in past few years and is further anticipating upsurge in the forecast time period. People are highly developing gardens with various varieties of plants and trees for gardening purpose and decorations. With growing interest of people towards gardening and decorative farming, plant growth regulators market will even witness surge.
Misuse of the technology can lead to excessively fast crop development that could result into ripening on the fruit surface with core remaining raw and will degrade quality of fruits and vegetables. Its disadvantages to crops comprising of erratic crop response, increased weed pressure and permanent exploitation of crop development may hinder demand of plant growth regulators market.
Plant regulator growth market is segmented on the basis of product into ethylene, gibberellins, auxins, cytokinins and abscisic acid. End user of these goods majorly includes agriculture industry. On the basis of application into pulses, crops, grains, fruits and vegetables.
Asia Pacific, led by India will witness substantial upsurge in plant growth regulators market in next five years. Agriculture plays an important role in the development of Indian economy. Over 50 % of the rural households depends on agriculture. The technology is used in crops for productivity and longevity in the agricultural fields. Several government initiatives comprising of establishment of National Bank for Agriculture and Rural Development (NABRAD) and Niti Ayog will drive the industry. The sector is further expecting growth that will positively affect industry demand.
Kenya is the fastest growing economy for horticulture. It is ranked 3rd in terms of foreign exchange earnings from exports. Cut flowers production, fruits and vegetables are main aspects for progress of horticulture industry in the country. Regulatory framework in the country that includes horticulture crop development authority is encouraging development in the country is positively influencing demand in Africa for plant growth regulators market.
United Kingdom will witness surge in plant growth regulators market in forecast period. The country consists of maximum number houses with large and well maintained garden. It has number of castles, palaces and manor homes. Technology is extensively used in gardens for plantations of high quality flowers and decoration. Growing interest of people towards gardening in the country will boost plant growth regulators market size over the forecasted period.
Prominent players in plant growth regulators market are Orbit Chemical Industries, Dow Chemical Company, Redox Industries limited, Anyang, Agroenzymas, Atlas Agrobi, Privat Company Arsis, Blue Green Group Company Limited, Olimpum and Shanghai Mingdou Chemical. East Africa based Catalyst Principle Partners has announced its investment in Orbit Chemical Industries, aiming to increase its existing manufacturing line and product range. It was support strong development of existing as well as new customers across Africa and beyond. The investment will lead to high quality product, low manufacturing cost and higher standard of compliance. It is an ambitious plan for strong development and regional expansion for future progress and revenue maximization.
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