Newark, June 18, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 0.91 billion gibberellins market will reach USD 2.00 billion by 2033. Gibberlins are substances widely used to increase yield and grow healthy crops. These substances encourage cell division and elongation in fruit tissues. These are widely used in commercial agriculture, where larger fruits are more desirable to consumers and fetch greater prices. Gibberellins can also improve fruit quality and enhance features such as colour, texture, and flavour. This increases the demand and sale of fruits. Furthermore, they can also help in the growth of flowering plants and enhance flower growth, colour, and scent. This is especially crucial in commercial horticulture, where optimising crop output requires regular and timely flowering. Gibberellin misuse, however, can have unfavourable outcomes such as aberrant growth patterns, decreased viability of seeds, or even plant mortality. To reap the maximum benefits of gibberellins without endangering plants, it is imperative to adhere to recommended application recommendations and apply them sparingly.
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Asia Pacific will account for the largest market size during the forecast period.
Throughout the forecast period, the region's production of fruits and vegetables, barley malt, and novel products is anticipated to have a favourable impact on demand due to their high acceptance rate. Furthermore, growth is driven by the need for sustainable agriculture techniques and premium crops in certain parts of North America.
The seed treatment segment dominated the market with the most significant revenue of USD 0.30 billion.
The seed treatment segment dominated the market, with the most significant revenue of USD 0.30 billion. Large crop yields depend on early seedling growth and germination, which gibberellins effectively promote. Because the seed treatment process ensures that gibberellins are distributed uniformly throughout the seedbed, it guarantees improved development and yield.
Market Dynamics:
Drivers: Increasing awareness about health benefits
Gibberlins have several benefits as they can help reduce the pests and diseases related issues form the crops and plants. The potential in gibberlins has been recognised by the manufacturers and consumers, so the production and consumption of these substances have increased drastically. Farmers use gibberlins to increase crop quality and productivity. This growing awareness of gibberlins will help in the market’s growth.
Restraint: Potential health risks
The use of gibberellin poses a risk to the health of humans and animals, particularly if consumed directly or in direct contact with skin. Stringent rules and regulations have been imposed for applying and handling gibberellins in the horticulture and agriculture sectors. The gibberellin market may expand more slowly because of these stringent regulations that could harm one's health.
Report Scope
| Base Year | 2023 |
| Forecast period | 2024-2033 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
| Market Size(unit) | USD 2.00 Billion |
| Data Warehousing Market CAGR | 8.2% |
| Segments Covered | Application |
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Some of the major players operating in the gibberellins market are:
● BASF SE
● DowDuPont Inc.
● Nufarm Limited
● Jiangsu Fengyuan Bioengineering Co., Ltd.
● Crop Care Australasia Pty Ltd.
● Zhejiang Qianjiang Biochemical Co., Ltd.
● Jilin Province Huayang Agriculture Technology Co., Ltd.
● Xinyi Industrial Co., Ltd.
● Taizhou Overseas Int'l Ltd.
● Hangzhou Tianlong Biotechnology Co., Ltd.
● Syngenta AG
● Bayer AG
● FMC Corporation
● Sichuan Guoguang Agrochemical Co., Ltd.
● NutriAg Ltd.
● Sichuan Tongsheng Amino Acid Co., Ltd.
● Shanghai Fuang Agrochemical Co., Ltd.
Key Segments cover in the market:
By Application:
● Soil Treatment
● Foliar Spray
● Seed Treatment
● Others
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About the report:
The global gibberellins market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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