Gibberellins Market to Grow with a CAGR of 6.47% through 2028
Rising sustainable agriculture practices are expected
to drive the North America Gibberellins Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Gibberellins
Market – North America Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the North America Gibberellins Market stood at USD
237.22 Million in 2022 and is anticipated to grow with a CAGR of 6.47% in the
forecast period, 2024-2028. Gibberellins, a group of plant hormones, play a
crucial role in stimulating plant growth and development. In recent years,
their use has expanded as farmers and researchers recognize their potential in
enhancing crop yield and quality.
One
of the most compelling drivers behind the growth of the North America
Gibberellins market is the ever-increasing global demand for food. With the
world's population expected to overpopulate, the agriculture sector faces the
formidable challenge of producing more food with limited arable land.
Gibberellins have emerged as a valuable tool in meeting this challenge by
promoting the growth of various crops. Gibberellins are particularly effective
in cereals like rice, wheat, and barley, where they enhance stem elongation and
increase grain yield. In addition, they stimulate fruit development in
fruit-bearing plants, such as apples, grapes, and tomatoes. As a result,
farmers in North America are increasingly turning to gibberellin-based products
to boost crop productivity and ensure food security for their populations.
The North America Gibberellins market is benefiting
from an expanding range of crops that can benefit from gibberellin
applications. While traditional crops like cereals and fruits have been the focus
of gibberellin use, there is growing interest in applying gibberellins to
specialty crops and horticultural plants. The growing awareness of the
environmental impact of traditional agricultural practices has led to a shift
towards more sustainable farming methods. Gibberellins offer a sustainable
solution by reducing the need for chemical fertilizers and pesticides. By
promoting healthy plant growth, gibberellins can help crops resist pests and
diseases naturally.
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Furthermore, gibberellins can enhance the efficiency
of nutrient uptake by plants, leading to reduced fertilizer requirements and
minimized nutrient runoff, which can harm aquatic ecosystems. This aligns with
the broader trend of sustainable agriculture that emphasizes responsible
resource management and environmental stewardship.
The North America Gibberellins Market is segmented
into Product Type, Application,
Source,
Form, Regional
Distribution, And Company.
Based on the Product Type, 9-Carbon
Gibberellins emerged as the dominant segment in the North America market for
North America Gibberellins Market in 2022. This prevalence is primarily because
19-Carbon Gibberellins, such as Gibberellic Acid (GA3), are the most
extensively studied and widely used gibberellin compounds in agriculture. They
have been proven effective in promoting plant growth, increasing crop yields,
and enhancing fruit development in various plant species, which aligns with the
key drivers of the Gibberellins market, such as the need for increased food
production and sustainable agriculture practices. Additionally, Gibberellic
Acid is readily available in commercial formulations, making it more accessible
to farmers and further contributing to its dominance in the market. 19-Carbon
Gibberellins are naturally occurring in many plant species, making them readily
available for extraction and formulation. This natural abundance reduces
production costs, making 19-Carbon Gibberellins a more economical choice for
manufacturers and farmers. 19-Carbon Gibberellins have been extensively studied
and proven to be effective in promoting plant growth and development. Their
efficacy in stimulating processes like seed germination, stem elongation, and
flowering makes them a preferred choice for farmers looking to improve crop
yield and quality.
Based on the Application, the Fruit Production segment
emerged as the dominant player in the North America market for North America
Gibberellins Market in 2022. gibberellins
are particularly effective in stimulating fruit development and increasing
fruit yields in various fruit-bearing plants such as apples, grapes, and
tomatoes. North America has a significant fruit production industry, and
growers are consistently seeking ways to enhance the quality and quantity of
their fruit harvests. Gibberellins play a crucial role in achieving these
objectives by promoting healthy fruit growth, reducing fruit drop, and
improving overall crop productivity. As the demand for high-quality fruits
remains steady and the need to maximize fruit production per acre becomes
increasingly important, the use of gibberellins in fruit production is expected
to drive significant demand in the North America Gibberellins Market. This
application aligns well with the region's focus on sustainable and efficient
agricultural practices, making it a prevalent and high-demand segment within
the market.
Based on the Form, the Liquid segment emerged as the
dominant player in the North America market for North America Gibberellins
Market in 2022. Liquid formulations of gibberellins are highly convenient and
easy to apply. They can be mixed with water and sprayed directly onto crops,
allowing for efficient and uniform distribution. This simplicity in application
appeals to farmers, as it minimizes the complexity and labor involved in the
application process. Liquids enable precise dosing and application, ensuring
that gibberellins are administered in the right quantity and at the right time.
This precision is crucial for maximizing the effectiveness of gibberellins in
promoting plant growth and development.
United States emerged as the dominant player in the
North America Gibberellins Market in 2022, holding the largest market share. The United States has a strong culture of embracing
agricultural technologies and practices that enhance productivity and
sustainability. Farmers in the U.S. are more likely to adopt innovative
solutions like gibberellins to optimize their crop yields and remain
competitive in the global market. The United States is one of the world's
leading agricultural powerhouses. Its vast and diverse agricultural landscape
encompasses a wide range of crops, from cereals like wheat and corn to
high-value fruits and vegetables. Given the widespread adoption of gibberellins
to enhance crop growth and yield, the sheer size of the U.S. agricultural
sector naturally contributes to its dominant market position. the
U.S. boasts a robust research and development
infrastructure, with numerous universities, research institutions, and private
companies dedicated to agriculture and biotechnology. This fosters innovation
and advancements in the field of plant growth regulators like gibberellins.
Given its surplus agricultural production, the United States also serves as a
significant exporter of agricultural products. Farmers and exporters often use
gibberellins to improve the quality and quantity of their produce, making it
more appealing to international markets. The U.S. agricultural community is
well-informed about the benefits of gibberellins and other modern farming
practices. Extension services, agricultural colleges, and industry associations
actively promote the responsible use of gibberellins, further enhancing their
adoption.
Major companies operating in North America
Gibberellins Market are:
- Valent U.S.A. Corporation
- Jiangsu Fengyuan Bioengineering Co.,
Ltd
- Nufarm Ltd.
- Sichuan Guoguang Agrochemical Co. Ltd.
- Xinyi (H.K.) Industrial Co., Ltd.
- Fine Americas, Inc.
- SePRO Corporation
- Zhejiang Qianjiang Biochemical Co.,
Ltd.
- Shanghai Fuang Agrochemical Co. Ltd.
- Shanghai Tongrui Biotech Co. Ltd
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“The North
America Gibberellins Market is poised for substantial growth in the coming
years. Anticipated factors driving this expansion include the increasing demand
for food production to feed a growing population and the need for sustainable
agricultural practices. As farmers seek ways to enhance crop yields while
minimizing environmental impact, the role of gibberellins, plant growth
regulators, becomes increasingly crucial. Advancements in research and
development, particularly in optimizing gibberellin formulations and their
application techniques, are expected to further boost market growth.
Additionally, the diversification of gibberellin applications to a wider range
of crops, including specialty and horticultural varieties, will open up new
market opportunities.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“North America Gibberellins Market Segmented Product
Type (19- Carbon Gibberellins, 20-Carbon Gibberellins), By Form (Powder, Granules, Liquid), By
Application (Malting of Barley, Sugarcane Yield, Fruit Production, Seed
Production, Others) Region and Competition, Opportunity, and Forecast,
2018-2028”, has evaluated the future growth potential of North America
Gibberellins Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in North America Gibberellins
Market.
Contact
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Techsci Research LLC
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10170
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