The global gibberellins market revenue is expected to register a moderate CAGR over the forecast period. Increasing demand for gibberellins from brewing industry is expected to fuel growth of the target market over the forecast period. Increasing production for fruit and vegetable, owing to its high demand is another factor expected to drive growth of the global gibberellins market over the forecast period. Increasing demand for organic methods to grow plants as well as decreasing area under agricultural cultivation is expected to boost the growth of the market.
However, availability of substitute plant growth regulator in the market is expected to hamper the growth of the global gibberellins market over the forecast period.
The global gibberellins market report has been segmented on the application and region.
Based on application, the global gibberellins market is segmented based on malting of barley, increasing sugarcane yield, fruit production, and seed production. Fruit production segment is expected to account major revenue share as compared to that of other segment. Whereas, malting of barley holds second- highest revenue share in the market.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Market in North America is expected to contribute major revenue as compared to that of other region. Increasing demand for vegetable and fruits coupled with extensive R&D initiatives undertaken for exploring new gibberellins by players operating in the region is in turn expected to drive growth of market in the region over the forecast period.
Prominent players in the global gibberellins market are Valent U.S.A. Corporation, Jiangsu Fengyuan Bioengineering Co., Ltd., Sichuan Guoguang Agrochemical Co. Ltd., Nufarm Ltd., Xinyi (H.K.) Industrial Co., Ltd., Fine Americas, Inc., SePRO Corporation, Zhejiang Qianjiang Biochemical Co., Ltd., Jiangsu Fengyuan Bioengineering Co., Ltd., and Shanghai Fuang Agrochemical Co. Ltd.