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Plant Growth Regulators Market Size Hits $6 Billion By 2020: Grand View Research, Inc

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Global plant growth regulators market is expected to exceed USD 6 billion by 2020, according to a new study by Grand View research, Inc. High allopathic medicine price is a key reason for growing herbal medicines demand which is expected to positively impact plant growth regulators market. Plant growth regulators are expected to witness significant growth in demand owing to its use in cotton metabolism in light of the growing cotton textile industry.

Cytokinins were the widest used plant growth regulators with market revenue exceeding USD 1.25 billion in 2013 owing to extensive use in herbal medicines. Increasing concerns regarding farmer profitability is expected to result in shift from conventional farming to `organic farming which will provide favorable market opportunities.

For More Information visit - http://www.grandviewresearch.com/industry-analysis/plant-growth-regulators-market

Further key findings from the study suggest:

Auxins act as growth stimulators in cotton metabolism which is expected to augment the product segment market in cotton manufacturing. Auxins market revenue was close to USD 1.0 billion in 2013 with major demand from cotton textile industry in Asia Pacific.

Europe was the largest regional market in 2013 with revenue of USD 1.86 billion due to increased organic farming activities in the region. Ample land available for organic farming is expected to accelerate use of plant growth regulators in plant physiological process modification.

Asia Pacific is expected to witness fastest growth at an estimated CAGR of 9.3% from 2014 to 2020 owing to improving cotton textile industry in the region. Large cotton industry in India and China is expected to result in increased demand for growth regulators in cotton metabolism. Indian government’s recent FDI policies have favored textile industry in the country directly influencing plant growth regulators market.

Market has low consolidation owing to presence of limited manufacturers globally. Key companies including DuPont, BASF and Bayer CropScience cater to major markets of North America, Europe and Asia Pacific. Concentrated market scenario in Europe and North America indicate high demand, however it is expected that there would be a shift in focus towards the emerging markets of Asia Pacific and Latin America over the next six years.

About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.

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Grand View Research, Inc
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Web Site: Grand View Research
 

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