The increasing demand for fruits and vegetables is a key factor expected to propel healthy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Gibberellins Market Size, Share & Industry Analysis, By Form (Liquid, Powder, Granules), By Application (Fruit Production, Malting of Barley, Increasing Sugarcane Yield, Seed Production, Others) Others and Regional Forecast, 2019-2026” the surge in agricultural activities is predicted to accelerate the gibberellins market growth in the forthcoming years.
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Thriving Brewery Industry to Augment Growth
The increasing demand for craft beers and custom brewed beers is predicted to foster healthy growth of the market in the forthcoming years. For instance, the utilization of gibberellin in brewing as it regulates the enzymatic activity involved in the conversion of starch to sugar and barley. The surge in the brewery industry owing to the advent of entrepreneurs and new business can be a pivotal factor likely to enable speedy growth of the market in the foreseeable future. Furthermore, the introduction of innovative products by leading players is likely to spur opportunities for the market in the forthcoming years. For instance, in April 2018, Baicao Biotech Co., Ltd, a joint venture of Beijing Multigrass Formulation Co. Ltd., announced that it has unveiled a range of high purity gibberellic acid products in China. The product can be used for the application in fruits and vegetable crops directly. Additionally, the ever-increasing demand for fruits and vegetables is likely to promote the growth of the market. The surge in farming and agricultural activities have led to the high consumption of gibberellins, which is predicted to augur well for the market. The increasing utilization of gibberellins in numerous agricultural applications is predicted to back the growth of the market.
However, the growing popularity of organic food is likely to dampen the growth of the market. Similarly, the expensive price of gibberellin compared to other plant regulating hormones such as cytokines and auxins is predicted to restrict the growth of the market.
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Implementation of Innovative Technologies to Boost Growth in North America
North America is expected to hold the largest share in the global market owing to the integration of ground-breaking technologies to boom the agricultural industry. Europe is expected to grow rapidly during the forecast period owing to the rising import and export activities for fruits and other premium-quality vegetables. Asia Pacific is predicted to witness a high demand in the forthcoming years owing to the rising demand for basic food. The growing population and surge in agricultural activities in the emerging nation such as India and China is likely to uplift the gibberellins market share in the foreseeable future. The growing employment of gibberellins for the healthy germination of seeds, and thus, cultivation in the future. The growing focus of farmers to increase crop yield is likely to spur new opportunities for the market in Asia Pacific.
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May 2015: Helena Chemical Company, a leader and distributor of agricultural and specialty formulators announced the launch of Receptor, in the USA. The Receptor is an integration of three plant growth regulators, indole-3-butyric acid(IBA), gibberellic acid and kinetin
The Report Lists the Key Companies in the Gibberellins Market:
- Shanghai Tongrui Biotech Co., Ltd.
- Valent U.S.A. Fine Americas, Inc.
- Nufarm Ltd.
- Jiangsu Fengyuan Bioengineering Co., Ltd.
- Shanghai Fuang Agrochemical Co. Ltd.
- Sichuan Guoguang Agrochemical Co. Ltd., Xinyi (H.K.)
- Industrial Co., Ltd.,
- Zhejiang Qianjiang Biochemical Co., Ltd.,
- SePRO Corporation.
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