9th September 2019 – The global Gibberellins
Market size is expected to value at USD1,167.8 million by 2025. The
market is subject to witness a substantial growth due to the increasing
population across the globe and rising demand for quality agricultural goods.
Gibberellins is responsible for cell elongation, growth of a plant, augment
overall life span, and stimulate fruit producing abilities in plants. Such
factors are expected to boost the growth of the market over the forecast
period.
Other critical factors responsible for
spurring the demand in gibberellins industry include superior quality of
vegetables and fruits, and increasing demands of ever-growing population.
Furthermore, growing preference towards adoption of the gibberellins by farmers
because of its ability to foster growth of the plants under uncontainable and
unprecedented atmospheric conditions, are boosting growth of the market in
recent years. Gibberellins are widely utilized for the production of apples and
grapes. Globally, the gibberellins market is predicted to grow at CAGR of 8.8%
in forecast period, providing numerous opportunities for market players to
invest in research and development in the market.
Globally, gibberellins industry is
propelled by the increasing need for high agricultural yield, superior quality
of agricultural goods, and growing beer industry. Also, the rise in number of
craft distilleries due to the growing popularity of craft spirits among
consumers are directly contributing to the growth of the industry in coming
years. Subsequently, increase in the demand for the new malt flavors in craft
distilleries to achieve distinct taste are spurring growth of the market.
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Rising import and export of fruit and
vegetable all around the globe are creating the need for high quality of
agricultural goods and longer life span, thus fostering growth of the
gibberellins market over the forecast period. Increasing focus on organic
farming and improvements in overall crop yield to meet demands of ever-growing
population by developing economies in order to achieve self-sufficiency, are
heavily contributing for increased production of gibberellins. With substantial
demand by end user market for organic food is directly attributed to the
expansion of the market. Increasing preference towards organic food products by
consumers due to rise in the health awareness among individuals, environment
impact, and animal welfare are escalating the demand for gibberellins industry
in the forecast period. Though, rising competition limits the market potential
to lead further.
Moreover, increasing advantages of
cytokinins and auxins over gibberellins such as lower cost and numerous health
benefits are hampering growth of the market. Yet, rising adoption of the
gibberellins at commercial level for a various of fruits and vegetables to
achieve breakage of dormancy, stimulation for plant growth, incitement for
lateral branching, and improvement in the fruit size and shape, are
accelerating demand of gibberellins market in coming years.
Gibberellins (GAs) are commonly known as
vegetable hormones that are capable of regulating different plant developmental
processes, such as stem elongation, sprouting, latency, and flowering.
Gibberellins are widely popular as an essential plant hormone since last couple
of decades. Commonly, most of the gibberellins are derived from diterpenoid
acids. The production of gibberellins involve synthesis of terpenoid pathway in
plastids, followed by modification involving the endoplasmic reticulum and
cytosol till it becomes biologically active. Two widely popular processes
implemented during production of gibberellins are ent-gibberellane skeleton
andent-kaurene.
The market is divided into regional
market segment such as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in the adoption of latest product and increase in health consciousness among
individual. Asia-Pacific region is predicted to hold major market share in the
gibberellins industry with massive growth in forecast period. Countries such as
India, Indonesia, and Malaysia are leading the Asia-Pacific market with reduced
production cost, improved yield and superior quality. The key players in the
market are Valent Co., Nufarm Limited, Sichuan Guoguang Agrochemical
Corporations, Ltd., and Fine Americas Incorporations.
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