Global Methyl Jasmonate Market: Overview
Methyl Jasmonate (MeJa) is a methyl ester of jasmonic acid. Plants produce jasmonic acid and MeJa in response to many biotic and abiotic stresses (particularly herbivory and wounding), which build up in the damaged parts of the plant. MeJa is known to bolster plant defense against extreme temperature changes and attacks by insects, fungi, and bacteria. Jasmonates act as signaling compounds for the production of phytoalexins, a substance that is produced by plant tissues in response to contact with a parasite. It specifically inhibits the growth of the parasite. Phytoalexins are broad spectrum inhibitors and are chemically diverse with different types of characteristics of a particular plant species. MeJa is used to stimulate traumatic resin duct production in pine trees. This can be used as a type of vaccine for defense against various insect attacks. It has a non-toxic mode of action and is present in most fruits, with especially high concentrations in apples and strawberries. It is already a part of the human diet.
Global Methyl Jasmonate Market: Drivers and Restrains
Increase in investment in research in various applications of MeJa is expected to drive the methyl jasmonate market in the near future. MeJa is anticipated to be widely used in fertilizers and insecticides. It also exhibits significant growth opportunities in the food sector. However, regulatory approvals in various regions is crucial for wide scale application of MeJa. This is the primary restraint of the methyl jasmonate market.
In terms of application, the methyl jasmonate market can be classified into crop protection, flavors & fragrance, food preservation, horticulture and others. Crop protection and food preservation are the leading segments of the methyl jasmonate market. Promising use of MeJa lies in prolonging the shelf-life of fresh fruit. Various research conducted on MeJa suggests that it reduces chilling injury as well as prevents the growth of mold on strawberries and grapes. It also stops bananas from turning brown.
In terms of geography, the methyl jasmonate market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for the major share of the global methyl jasmonate market in 2017 owing to the presence of a strong regulatory system in the region. The methyl jasmonate market in Europe is also expanding significantly. The market in Asia Pacific is projected to expand at a fast pace during the forecast period due to the growth in end-use industries such as food & agriculture. Latin America and Middle East & Africa (MEA) are also promising regions of the methyl jasmonate market.
Global Methyl Jasmonate Market: Key Players
Key players in methyl jasmonate market are Zeon Corporation, BASF SE, Cayman Chemical, Sigma-Aldrich, Parchem Fine & Specialty Chemicals, Tokyo Chemical Industry Co., Ltd., Penta Manufacturing Company, and Hangzhou Dayangchem Co. Ltd. Several multinational companies are investing in research and development activities in terms of application of MeJa considering the lucrative opportunities available in the market.
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