Glyphosate is chemical formulation for controlling weeds. It is a compound with a molecular weight of 169g that is low in toxicity. It is a glycine amino acid derivative. They work well to keep weeds under control in crops including cereals, legumes, vegetables, grains, fruits, etc. It eliminates weeds like barnyard grass, chickweed, and dandelion, among others. The surge in cultivation of fruits and vegetables across the globe has boosted the market got glyphosate globally, owing to the high susceptibility of fungal diseases.
The Glyphosate Market is expected to grow at a steady rate of around 6% owing to surge in cultivation of fruits and vegetables across the globe. Major key players are working towards the glyphosate industry developments to retain the growth of the market. For instance, In March 2019, Bayer AG introduced glyphosate-free residual herbicide in Ireland. The new product launch will help the company to expand its product offerings.
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According to UnivDatos Market Insights (UMI)’ research report “Global Glyphosate Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to surge in high-value crops, growing popularity of genetically modified crops, and increase in demand of glyphosate herbicide in agriculture sector are also having a positive impact on the market during the forecast period.
Based on crop type, the market is segmented into genetically modified crops and conventional crops. The conventional crops held major share in the global market in 2020. This is due to the requirement for weed management and for avoiding tillage. Glyphosate is used as a herbicide on plantations growing wheat, sunflower, sorghum, soybeans, cotton, maize, tea, and other crops. The promising role of glyphosate is propelling the segmental growth.
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Based on the form, the market is bifurcated into dry and liquid. The liquid segment is predicted to hold the most significant CAGR in the forecasted period as it offers cost-efficiency, longer shelf life, and easy foliar application to the end-users.Moreover, companies are rapidly introducing new concentrated product in the market, which is also driving the segmental growth during the forecast period. For instance in 2022, Bayer in Argentina launched the most concentrated glyphosate herbicide on the market, Roundup Top, which is achieving very good performance among those who have already accessed this new product.
Based on the application, the glyphosate market is segmented into agriculture and non-agriculture. The agriculture category is expected to hold major share in the market in 2020. With millions of acres planted, large field crops, such as soybeans, corn, cotton, and sugar beets, have the highest total area treated and pounds applied with glyphosate. On average, 84% of glyphosate, in terms of volume, is applied to soybeans, corn, or cotton per year. These three field crops have glyphosate-resistant (GR) varieties that have been widely adopted. The average single application rate for field crops ranges from 0.72 to 1.00 lbs. a.e./acre. Thus, glyphosate remains a useful herbicide for users in agricultural settings because of its nature of broad-spectrum application, is simple to use, and is often cost-effective.
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APAC to witness extensive growth
For a better understanding of the market adoption of the Glyphosate industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia-Pacific region is estimated to witness high growth in the market during the forthcoming years. The region has the highest arable land in the world with the highest crop diversity. Increased adoption of advanced agricultural practices such as zero-tillage is expected to deliver growth to the glyphosate market in the region. Although China has provided approval to grow herbicide-tolerant hybrids, the constraint remains with respect to India, which is yet to provide approvals for any genetically modified hybrid in food crops. Bt cotton is the only GM crop that is allowed in India. In 2020, the government allowed a Maharashtra-based company to conduct field trials for Bt brinjal in eight states, including Madhya Pradesh and Karnataka. The varieties to be tested were a proprietary product of the government-run Indian Agricultural Research Institute (IARI).
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Glyphosate market are Monsanto Company; Nufarm Ltd; Syngenta AG; Dow AgroSciences LLC; DuPont de Nemours Inc; Zhejiang Xinan Chemical Industrial Group Co Ltd; Jiangsu Good Harvest-Weien Agrochemical Co Ltd; Nantong Jiangshan Agrochemical Chemicals Co Ltd.; Anhui Huaxing Chemical Industry Co Ltd; and BASF SE.
“Global Glyphosate Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Crop Type (Conventional Crops and Genetically Modified Crops)
- By From(Dry and Liquid)
- By Application (Agriculture, and Non-Agriculture)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Monsanto Company; Nufarm Ltd; Syngenta AG; Dow AgroSciences LLC; DuPont de Nemours Inc; Zhejiang Xinan Chemical Industrial Group Co Ltd; Jiangsu Good Harvest-Weien Agrochemical Co Ltd; Nantong Jiangshan Agrochemical Chemicals Co Ltd.; Anhui Huaxing Chemical Industry Co Ltd; and BASF SE.
Key questions answered in the study:
- What are the current and future trends of the global glyphosate industry?
- How the industry has been evolving in terms of type, drive type, and application?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global glyphosate industry?
- What is the customer orientation, purchase behavior, and expectations from the global glyphosate suppliers across various region and countries?
