Industry Insights
The growing demand for fine quality vegetables & fruits has increased the utilization of gibberellin in the agriculture industry. Farmers prefer this product as it fosters the growth of plants under uncontrollable and unpredictable environments. Gibberellins are majorly used for the production of apples and grapes.
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The U.S. market is driven by the growing demand for high agricultural yield, good quality fruits & vegetables, and the growing beer industry. According to the Brewers Association, the number of breweries in the U.S. increased by 16.6% to reach 5,301 in 2016 on account of the rapidly rising demand for craft beer. This has led to high demand for new malt flavors in order to maintain product differentiation.
Numerous economies across the world depend on imports to meet their fruit and vegetable demand. The emerging economies are increasingly focusing on enhancing their crop production yield in order to achieve self-sufficiency. This is likely to augment the demand for gibberellins over the coming years.
Consumer demand for organically produced goods continues to grow significantly. Organic products account for over 4.0% of the total food sales in the U.S. Increasing consumer awareness regarding health, environment, and animal welfare is likely to increase the use of organic products, thereby augmenting the use of gibberellins over the next eight years.
Application Insights
Fruit production application segment dominated the global market in 2016, signifying a CAGR of 9.1% from 2017 to 2025. The product is used on a commercial scale for a variety of fruits and vegetables for breakage of dormancy, stimulation of bud break, increasing lateral branching, stimulation & reduction of fruit set, and increasing the fruit size & quality.
Sugarcane is generally considered as a tropical plant and is grown in areas with a warm climate and adequate rainfall. Favorable climatic conditions ensure high sugar content in the plant. The prevalence of cold climatic conditions in North America and Europe is likely to augment gibberellin demand for sugarcane production in these regions.
Regional Insights
Europe accounted for 24.7% share in 2016 and the region is expected to witness considerable growth over the coming years on account of high awareness regarding the benefits of plant growth regulators. Europe exports large quantities of fruits and vegetables within the region as well as to other economies, which is likely to augment the utilization of this product over the next eight years.
Asia Pacific has numerous tropical countries including India, Indonesia, Malaysia, Myanmar, Singapore, Philippines, and Thailand. The crop production in tropical areas is generally small scale and labor intensive. Gibberellins will create a huge opportunity for these regions in terms of reduction in production cost and increase in yield & quality.
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Report Scope & Attributes
Details
Base year for estimation
2016
Actual estimates/Historical data
2014-2016
Forecast period
2017-2025
Market representation
Revenue in USD Million, Volume in Tons, and CAGR from 2017 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Country scope
U.S., Germany, UK, China, India, Brazil
Report coverage
Revenue forecast, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analyst working days)
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization