Glyphosate Market: Introduction
The rise in demand for GM crops and conventional crops across the globe is expected to boost the global glyphosate market. The agriculture sector is witnessing rapid growth in Asia Pacific and Latin America, thus fueling the demand for glyphosate in these regions. However, unfavorable factors such as emergence of glyphosate resistant weeds and stringent environmental regulations over use of agrochemicals, especially in Europe, are expected to hinder market growth. In addition, the development of innovative integrated weed management systems is expected to rise in the near future, owing to their eco-friendly characteristics.
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The glyphosate report gives a detailed description of the global glyphosate market based on volume share (kilo tons) and revenue (US$ Bn) for the period of 2021 to 2031. The glyphosate report includes only agricultural applications of glyphosate. All the volume data of glyphosate given in the report describes the tons or kilo tons of active ingredients, and does not include weight of carrier. The market numbers given in the report describe demand for glyphosate active ingredient and not production or sales.
The report highlights the factors contributing toward the growth of the market and restraints that impede the market. Detailed forecasts for the years 2021-2031 for glyphosate have been given separately for better understanding of the market scenario. The glyphosate market is described with respect to various segments, along with opportunities that are expected during the forecast period.
Glyphosate Market: Dynamics
The global glyphosate market has been expanding significantly mainly due high preference for utilization of glyphosate in the form of an herbicide. This can be ascribed to the substance being highly effective against weeds and other forms of invasive growth that can hamper the growth of desired crops and plants in an area. The surge in use of glyphosate for developing genetically modified crops is also driving the global glyphosate market. In addition, the progress witnessed by the agricultural industry since past few decades has made agriculturists use highly modified products such as glyphosate-based herbicides.
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Glyphosate Market: Prominent Regions
Based on region, the global glyphosate market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Of these, the market depicts maximum presence in Europe and North America. This is mainly due to the presence of a strong agricultural infrastructure, wherein glyphosate herbicides are used on a large-scale basis in these regions. However, adequate and necessary systems and equipment to manufacture herbicides are not available in remote and underdeveloped regions. This is making farmers and agriculturists rely on traditional methods, thus posing a prime obstacle to the market. The market is also being restrained due to a shortage of trained staff and required manpower for setting up manufacturing of glyphosate herbicides systems in several underdeveloped regions, which are largely situated in Asia Pacific, Africa, and Latin America. However, many companies are striving to introduce cost-effective solutions of glyphosate products. This is expected to offset the restraint to a certain extent.
Glyphosate Market: Key Players
Prominent players operating in the global glyphosate market are Monsanto Company, Nufarm Ltd, Syngenta AG, Dow AgroSciences LLC, E. I. du Pont de Nemours and Company, Zhejiang Xinan Chemical Industrial Group Company, Ltd, Jiangsu Good Harvest-Weien Agrochemical Co., Ltd, Nantong Jiangshan Agrochemical & Chemicals Co., Ltd., Anhui Huaxing Chemical Industry Company, BASF SE, and Bayer CropScience.
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Global Glyphosate Market: Segmentation
Glyphosate Market, by Application
- Genetically Modified (GM) Crops
- Conventional Crops
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