GIBBERELLINS MARKET ANALYSIS
Gibberellins are growth promoting hormones found in plants. It stimulates cell elongation and help plants to grow taller. Gibberellins have other functions in plant growth such as germination, flowering, stem elongation, and fruit ripening.
Market Dynamics:-
Gibberellins market is driven by increasing R&D activities by research organizations across the globe. For instance, in 2017, a research study was published on ‘The role of gibberellin signaling in plant responses to abiotic stress’, which exhibited that the suppression of gibberellin (GA) signaling is a general response to abiotic stress, with transcriptional upregulation of GA2ox genes, encoding GA-inactivating enzymes, and in A. thaliana, of the DELLA gene RGL3, which encodes a growth suppressor. Also, in 2019, a research study was published on ‘Effect of Gibberellic Acid on Growth, Yield, and Quality of Leaf Lettuce and Rocket Grown in a Floating System’, which showed that growth and biomass accumulation of leaf lettuce and rocket plants were influenced by GA3 level in the nutrient solution of a hydroponic floating system.
However, high cost and low awareness about gibberellins are expected to hinder the market growth in terms of value during the forecast period.
Market Outlook:-
On the basis of application, the market is segmented into malting of barley, sugarcane yield, seed production, fruit production and others. Fruit production segment is expected to exhibit significant market growth during the forecast period. Gibberellins are utilized in the producing seedless fruit such as seedless grapes. These seedless fruits are sprayed with gibberellin which lead to rise the size of each grape and increases fruit yield.
Among region, North America is expected to generate substantial market share during the forecast period. Growing beer industry is a key growth factor for this region, as malted barley is utilized for brewing. According to the Brewers Association, in 2016, the U.S. breweries increased by 16.6% to reach 5,301, owing to rising demand for craft beer in the country.
Key Players:-
Key players in the global gibberellins market include Zhejiang Qianjiang Biochemical Co., Ltd., SePRO Corporation, Shanghai Fuang Agrochemical Co. Ltd., Nufarm Ltd, Sichuan Guoguang Agrochemical Co. Ltd, Fine Americas, Inc., Xinyi (H.K.) Industrial Co., Ltd., Biosynth AG, Jiangsu Fengyuan Bioengineering Co., Ltd., Valent U.S.A. Corporation, and others.
Key players in the global gibberellins market are focusing on various strategies such as mergers & acquisitions, partnerships & collaborations, and product launches to attain strong foothold in the global gibberellins market. For instance, in 2016, Fine Agrochemicals launched two products namely Kudos and Configure SC. The product Kudos is a plant growth regulator. This product has been added to the Fine Agrochemical’s fruit portfolio of exilis and novagib.
Market Taxonomy:-
On the basis of product type, the global gibberellins market is segmented into:
On the basis of form, the global gibberellins market is segmented into:
On the basis of application, the global gibberellins market is segmented into:
On the basis of region, the global gibberellins market is segmented into:
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