Reports And Data

An increase in demand for gibberellins in agriculture and growing consumption of fruit worldwide are the significant factors influencing the market growth.

NEW YORK CITY, NEW YORK, UNITED STATES, August 12, 2022 /EINPresswire.com/ -- The global gibberellins market is expected to reach USD 1.42 Billion by 2027, according to a new report by Reports and Data. Gibberellin, a kind of phytohormone, is beneficial in regulating plant growth and development. Gibberellins aids in promoting flowering by increasing the rate of growth of flowers, which, in turn, has a substantial effect on the growth rate of fruits. Gibberellins find usage in producing seedless fruit, including seedless grapes, which are usually sprayed with gibberellin to improve the size of each grape. According to a study, in 2017, China was the largest consumer of fruit with 54,770 kilo tons trailed by India and Indonesia, on the basis of a comparison of 154 nations. Besides, in 2017, the overall global consumption of fruits reached 193,395 kilo tons, which is over 1.56% as compared to 2016 and over 21.2 % as compared to 10 years ago. Thus, growing fruit consumption is causative in driving market demand.

Significant hormonal functions of gibberellin in higher plants are the induction of hydrolytic enzymes in germinating seeds, the promotion of longitudinal growth, and the promotion of fruit setting and development, among others. Therefore, the use of gibberellin in the production of crops is a common practice. At present, the worldwide population is growing at a rate of approximately 1.05% per year, and the average population increase is projected at 81 million individuals per year. The growing global population trend indicates an increasing demand for food, which is likely to increase in the range of 59.0% to 98.0% by 2050, and in turn, would drive the market demand.

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Further key findings from the report suggest

By the method, Methylerythritol Phosphate (MEP) Pathway held a significant market share in 2019. Gibberellins are commonly synthesized from the MEP pathway in higher plants. In tis pathway, three kinds of enzymes, such as cytochrome P450 monooxygenases (P450s), terpene synthases (TPSs), and 2-oxoglutarate–dependent dioxygenases (2ODDs), are deployed for production from GDP.
By distribution channel, the online distribution channel is projected to grow at a faster rate of 10.7% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
By application, malting of barley is projected to witness the fastest growth rate of 9.5% in the forecast period. Gibberellins find application to produce an increased amount of alpha-amylase in sprouting barley, which has its usage in the production of malt for brewing purposes.
The market in the Asia Pacific region is likely to witness the fastest growth rate of 10.0% in the period 2020-2027. The high growth rate of the APAC region is attributed to swift growth in population and the insufficiency of quality food in the emerging economies, including India and China.
Key participants include Nufarm Ltd. Valent USA Corporation, Sichuan Guoguang Agrochemical Co. Ltd., Jiangsu Fengyuan Bioengineering Co. Ltd., Fine Americas Inc., SePRO Corporation, Shanghai Fuang Agrochemical Co. Ltd., Xinyi (HK) Industrial Co. Ltd., Zhejiang Qianjiang Biochemical Co. Ltd., and Zhuhaishi Shuangbojie Technology Co. Ltd., among others.
In August 2017, Sumitomo Chemical entered into an agreement with Kyowa Hakko Bio Co., Ltd. for the acquisition of plant growth regulator business of Kyowa Hakko Bio. Kyowa Hakko Bio Co., Ltd. was involved in the selling of the gibberellin product "Gibberellin Kyowa," among other products, which are used in increasing the size of pears and producing seedless grapes.

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For the purpose of this report Reports and Data has segmented global Gibberellins market on the basis of type, application, and region:

Method Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Methylerythritol Phosphate (MEP) Pathway
Trans-Geranylgeranyl Diphosphate (GGDP) Pathway

Type Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

19-Carbon Gibberellins
20-Carbon Gibberellins

Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Online
Offline

Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)

Fruit Production
Malting of Barley
Sugarcane Yield
Seed production

Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)

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Key Questions answered by the Report:

What is the expected year-on-year growth of the Gibberellinsduring the forecast period?
What key trends are expected influence revenue growth of the market going ahead?
Which region is expected to account for largest revenue share over the forecast period?
Which key companies are profiled in the report?

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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