Report Overview

India Plant Growth RegulatorsMarket- Industry Trends & Forecast Report 2027

The India plant growth regulators market is estimated to grow at a CAGR of 8.7 % during the forecast period (2021-2027). The primary factors driving market expansion include rapid population growth and rising demand for food production. Plant growth regulators witness increased demand as people become more interested in organic food and farming. Plant growth regulators are in high demand in India due to increased investment in agricultural activities and the availability of rich resources for agriculture output.

Cytokinins, gibberellins, and auxins are the three main plant growth hormones used in Indian agriculture and farming. Auxin and cytokinin are essential regulators of plant growth and development. For crop protection, Indian farmers are more likely to use agrochemicals and bio-pesticides. In India, the increasing use of environmentally friendly plant growth regulators for better agricultural practices is fueling market expansion.

India Plant Growth Regulators Market Overview

Plant growth regulators essentially manage or regulate plants’ growth processes, such as the creation of leaves and flowers, stem elongation, and fruit development and ripening. Cytokinins are plant hormones that govern several aspects of plant growth, including cell division and differentiation, shoot and root growth, senescence delay, and fruit and seed production. It also slows down natural aging, which causes plants to die. Furthermore, it is used to repair the injured portion of any plant. Auxins are primarily used as rooting hormones to control plant cell growth. Auxins are widely utilized in plant propagation and tissue culture.

India Plant Growth Regulators Market Trend

Growth Drivers

Growing Investment in Agricultural Activities is Pushing Market Growth

Agriculture is the backbone of the Indian economy, and it is the primary source of income for a majority of Indians. According to the Indian Brand Equity Foundation, agriculture cultivation employs around 58% of the Indian population. During the 2019-2020 crop year, food grain output hit a new high of 296.65 million tonnes. India is also one of the top 15 agricultural exporters in the world, according to the foundation. In 2019, agricultural exports from India generated USD 38.54 billion, with USD 35.09 billion expected in 2020.

The Department of Agriculture, Cooperation, and Farmers’ Welfare has been allocated INR 1,23,018 crore in 2021-22 by the Indian government. The Indian government also allocated INR 8,514 crore to the Agricultural Research and Education Department during the 2021-2022 budget. Therefore, favorable government initiatives are likely to fuel the demand for plant growth regulators during the forecast period.

Restraints

The Lack of Awareness among Farmers Regarding Plant Growth Regulators is Restricting the Market Growth

Chemicals that control the growth of plant cells, tissues, and organs are known as plant growth regulators. Plant growth regulators are beneficial in increasing agricultural yield. The majority of Indian farmers are uninformed and unaware of the various types of plant growth regulators available in the market. Moreover, farmers are also unaware of the financial benefits of using growth regulators.

Pesticides and fertilizers are traditionally used by farmers in their farming techniques for crop production. Moreover, the majority of agriculture occurs in rural areas, where farmers are unaware of new technologies and goods. Thus, the market's expansion is being hampered by the lack of awareness among farmers regarding plant growth regulators.

Impact of COVID-19

The country's economic activity has come to a halt as a result of the lockdown imposed by the Indian government. Despite this, the country’s agriculture sector grew by 3% in 2020-21, according to the NITI Aayog. Thus, the Indian agricultural sector is set to undergo a significant transformation despite the ongoing pandemic. With the new government policies, farmers can now sell their products anywhere and to anyone. The government's ambitious farm liberalization programme, which is presently enacted in legislation in the form of three measures, might pave a new way of engaging food producers and purchasers. These measures would minimize inefficiencies by making beneficial investments and allowing farmers and purchasers to trade freely. This new policy would also provide a necessary forum for buyers to obtain the proper compensation for selling commodities. Therefore, with government support, the market is likely to witness an upward trend in the post-COVID-19 era.

India Plant Growth Regulators Market: By Product Type

Based on product types, the India plant growth regulators market is segmented into  cytokinins, auxins, gibberellins, ethylene, abscisic acid, vitamins, and others. The cytokinin segment held the largest market share in 2020 and is expected to increase at the fastest rate during the forecast period. Cytokinins help plants cope with environmental stress and promote protein synthesis. Additionally, they offer several advantages, including delaying plant aging and preventing leaf senescence. They are commonly used in mature plants to help them develop faster. Moreover, cytokinins are utilized to repair the injured parts of plants and are used depending on the crop and soil type.

Source: BlueWeave Consulting

India Plant Growth Regulators Market: By Function

Based on functions, the India plant growth regulators market is segmented into plant growth promoters, and plant growth inhibitors. The plant growth promoter segment held the largest market share in 2020 and is likely to dominate the market during the forecast period. Plant growth promoters have a significant impact on plants at different phases of their development. The growing need for plant growth promoters in various fruits and vegetables to improve the flowering process for greater yield has contributed to the segment's rise.

Competitive Landscape

The plant growth regulators market is highly fragmented due to the presence of limited domestic and international players. Additionally, the emergence of new players has resulted in healthier competition among long-established service providers in the industry. Some key players in the India plant growth regulators market are Tulsi Agro Industries, Aryan Crop Protection Pvt Ltd, R M Biotech, Volkschem Crop Science Pvt Ltd, Manish Bio Chem Products Private Limited, Yug Agro Chem, Agri India Biotech, TATA Chemicals Limited, Godrej Agrovet Limited, Bayer Crop Science Limited, Krishi Rasayan Pvt. Ltd., Dhanuka Agritech Limited, Growtech Agri Science and Research Private Limited, Sadguru Chemicals & Fertilizers, Varsha Bioscience and Technology India Pvt. Ltd., Aristo Biotech And Life Science Pvt. Ltd., Bharat Rasayan Limited and Other Prominent Players.

Recent Developments

• In July 2021, the government of India launched a digital platform called 'Kisan Saarathi,' available in Hindi and other regional languages, allowing farmers to interact with scientists from Krishi Vigyan Kendra (KVKs). These nodal centers ensure farmers benefit from research and technology and receive personalized advice on agriculture and related topics.

• In September 2020, the government of India introduced three agri-reform bills: the Farmers' Produce Trade and Commerce (Promotion and Facilitation), the Farmers' (Empowerment and Protection) Price Assurance and Farm Services Agreement, and the Essential Commodities (Amendment) Act, all aimed at increasing farmers' incomes in the coming years.

Scope of the Report

• By Product Type
  • • • Cytokinins
      • Auxins
      • Gibberellins
      • Ethylene
      • Abscisic acid
      • Vitamins
      • Others
• By Crop Type
  • • • Fruits and vegetables
      • Turf and ornamentals
      • Cereals & grains
        • Wheat
        • Rice
        • Corn
        • Others
      • Oilseeds & Pulses
        • Cotton seed
        • Soya bean
        • Sunflower
        • Others
      • Others
• By Formulations
  • • • Water-Dispersible & Water Soluble
      • Wettable Powders
      • Solutions
• By Function
  • • • Plant Growth Promoters
      • Plant Growth Inhibitors

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Application
      2. Secondary Research
      3. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. India Plant Growth Regulators Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Recent Development
   4. Technological Advancements
   5. Regulatory Framework
   6. Porter’s Five Forces Analysis
      1. Bargaining Application of Suppliers
      2. Bargaining Application of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. India Plant Growth Regulators Market Overview
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
   2. Market Share & Forecast
      1. By Product Type
         1. Cytokinins
         2. Auxins
         3. Gibberellins
         4. Ethylene
         5. Abscisic acid
         6. Vitamins
         7. Others
      2. By Crop Type
         1. Fruits and vegetables
         2. Turf and ornamentals
         3. Cereals & grains
            1. Wheat
            2. Rice
            3. Corn
            4. Others
         4. Oilseeds & Pulses
            1. Cotton seed
            2. Soya bean
            3. Sunflower
            4. Others
         5. Others
      3. By Formulations
         1. Water-Dispersible & Water Soluble
         2. Wettable Powders
         3. Solutions
      4. By Function
         1. Plant Growth Promoters
         2. Plant Growth Inhibitors
6. Competitive Landscape
   1. Company Market Share Analysis, 2020
   2. Competitive Benchmarking, By Product Offerings
   3. List of Key Players and their Offerings
7. Impact of COVID-19 across Industry
8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. Tulsi Agro Industries
   2. Aryan Crop Protection Pvt Ltd
   3. R M Biotech
   4. Volkschem Crop Science Pvt Ltd
   5. Manish Bio Chem Products Private Limited
   6. Yug Agro Chem,
   7. Agri India Biotech
   8. TATA Chemicals Limited
   9. Godrej Agrovet Limited
   10. Bayer Crop Science Limited
   11. Krishi Rasayan Pvt. Ltd.
   12. Dhanuka Agritech Limited
   13. Growtech Agri Science and Research Private Limited
   14. Sadguru Chemicals & Fertilizers
   15. Varsha Bioscience and Technology India Pvt. Ltd.
   16. Aristo Biotech and Life Science Pvt. Ltd.
   17. Bharat Rasayan Limited
   18. Other Prominent Players
9. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable.

List of Figures

Fig 1: India Plant Growth Regulators Segmentation

Fig 2: India Plant Growth Regulators Market Value Chain Analysis

Fig 3: Company Market Share Analysis, 2020

Fig 3: India Plant Growth Regulators Market Size, By Value (USD Billion), 2017-2027

Fig 4: India Plant Growth Regulators Market Share, By Product Type, By Value, 2017-2027

Fig 5: India Plant Growth Regulators Market Share, By Crop Type, By Value, 2017-2027

Fig 6: India Plant Growth Regulators Market Share, By Formulations, By Value, 2017-2027

Fig 7: India Plant Growth Regulators Market Share, By Function, By Value, 2017-2027

List of Tables

Table 1: India Plant Growth Regulators Size, By Form, By Value, 2017-2027

Table 2: India Plant Growth Regulators Market Size, By Type, By Value, 2017-2027

Table 3: India Plant Growth Regulators Market Size, By Crop Type, By Value, 2017-2027

Table 4: India Plant Growth Regulators Market Size, By Formulations, By Value, 2017-2027

Table 5: India Plant Growth Regulators Market Size, By Function, By Value, 2017-2027

Table 6: Tulsi Agro Industries Business Overview

Table 7: Tulsi Agro Industries Financial Analysis

Table 8: Aryan Crop Protection Pvt Ltd Business Overview

Table 9: Aryan Crop Protection Pvt Ltd Financial Analysis

Table 10: R M Biotech Business Overview

Table 11: R M Biotech Financial Analysis

Table 12: Volkschem Crop Science Pvt Ltd Business Overview

Table 13: Volkschem Crop Science Pvt Ltd Financial Analysis

Table 14: Manish Bio Chem Products Private Limited Business Overview

Table 15: Manish Bio Chem Products Private Limited Financial Analysis

Table 16: Yug Agro Chem, Business Overview

Table 17: Yug Agro Chem, Financial Analysis

Table 18: Agri India Biotech Business Overview

Table 19: Agri India Biotech Financial Analysis

Table 20: TATA Chemicals Limited Business Overview

Table 21: TATA Chemicals Limited Financial Analysis

Table 22: Godrej Agrovet Limited Business Overview

Table 23: Godrej Agrovet Limited Financial Analysis

Table 24: Bayer Crop Science Limited Business Overview

Table 25: Bayer Crop Science Limited Financial Analysis

Table 26: Krishi Rasayan Pvt. Ltd. Business Overview

Table 27: Krishi Rasayan Pvt. Ltd. Financial Analysis

Table 28: Dhanuka Agritech Limited Business Overview

Table 29: Dhanuka Agritech Limited Financial Analysis

Table 30: Growtech Agri Science and Research Private Limited Business Overview

Table 31: Growtech Agri Science and Research Private Limited Financial Analysis

Table 32: Sadguru Chemicals & Fertilizers Business Overview

Table 33: Sadguru Chemicals & Fertilizers Financial Analysis

Table 34: Varsha Bioscience and Technology India Pvt. Ltd. Business Overview

Table 35: Varsha Bioscience and Technology India Pvt. Ltd. Financial Analysis

Table 36: Aristo Biotech and Life Science Pvt. Ltd. Business Overview

Table 37: Aristo Biotech and Life Science Pvt. Ltd. Financial Analysis

Table 38: Bharat Rasayan Limited Business Overview

Table 39: Bharat Rasayan Limited Financial Analysis