Glyphosate Market Size is valued at USD 10.66 Bn in 2022 and is predicted to reach USD 19.68 Bn by the year 2031 at a 7.2% CAGR during the forecast period for 2023-2031.
Glyphosate is a class of herbicide effective against grasses, weeds, and fungi/spore diseases. It is effective at eliminating seasonal plant weeds and grasses that pose a threat to agricultural yields. Over the forecast period, the global glyphosate market is expected to expand due to rising glyphosate use in agricultural and non-agricultural settings, rising demand for high-value crops, and rising acceptance and popularity of genetically modified crops like cotton and soybean.
In addition, farmers' increasing approval of herbicide-tolerance technology for conventionally grown produce and the rising adoption of glyphosate are anticipated to fuel market expansion further. In addition, the cheap economic cost and low environmental degradation are expected to have favourable effects on the glyphosate market in the next years. However, due to the negative impact glyphosate has on human health and the environment, the government has placed severe regulations on its use.
However, with the development of glyphosate-resistant strains in the coming years, weeds are predicted to slow the expansion of the glyphosate business. The widespread application of chemical pesticides has prompted new worries about their effects on the natural world. In addition, the demand for glyphosate was high before the spread of COVID-19. Due to a shortage of workers, mass production shutdowns, and supply chain disruptions, many manufacturers halted operations, leading to a corresponding increase in demand for glyphosate products and the rising need for eco-friendly strategies.
Competitive Landscape
Some Major Key Players In The Glyphosate Market:
- Adama Agricultural Solutions Ltd
- American Vanguard Corporation
- Anhui Huaxing Chemical Industry Company
- BASF SE
- Bayer Cropscience AG
- Corteva Agriscience
- Dow AgroSciences Australia Ltd.
- E.I. Du Pont De Nemours & Company
- Excel Crop Care Limited
- HPM Chemicals & Fertilizers Ltd.
- Indofil Industries Ltd.
- Jiangsu Good Harvest-Weien Agrochemical Co., Ltd
- King Quenson Industry Group
- Monsanto Company
- Nantong Jiangshan Agrochemical & Chemical, Inc.
- Nufarm Ltd.
- Sikko Industries Ltd
- Sinochem Corporation
- SinoHarvest
- Syngenta AG
- UPL Limited
- Zhejiang Xinan Chemical Industrial Group Company, Ltd
Market Segmentation:
The glyphosate market is segmented based on crop type, application, and function. According to crop type, the market is segmented into genetically modified crops and conventional crops. The application segment includes agriculture, household, industrial and others. By function, the market is segmented into weed management solutions, improved soil health, improved planting efficiency, and others.
As Per The Crop Type Segment, The Genetically Modified Crop Glyphosate Market Segment Is Accounted As A Major Contributor To The Glyphosate Market.
The genetically modified crop glyphosate category is expected to record a major global market share in 2022. Crops bred to be resistant to herbicides like glyphosate provide farmers additional options for when to spray for weeds and make weed control easier overall. Beets, maize, soybeans, sugar canola, cotton, and wheat are only some examples of genetically modified crop varieties that are resistant to glyphosate.
Weed Management Solution Segment To Witness Growth At A Rapid Rate.
The weed management solution segment is projected to grow rapidly in the global Glyphosate market. Preventing annual weeds from going to seed is an effective way to keep the soil's seed bank from being restocked with new weeds. Preemergence and postemergence pesticide applications during crop growth can reduce weeds and prevent weed seed formation, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The Asia Pacific Glyphosate Market Holds A Significant Revenue Share.
The Asia Pacific glyphosate market activity is anticipated to record the largest market share in revenue in the near future. It can be attributed to enhanced crop protection technology adoption and increased public knowledge about the herbicide glyphosate. The market's growth is expected to continue during the projected period because of the increased spending on glyphosate chemical pesticide initiatives. In addition, Europe is estimated to grow rapidly in the global glyphosate market due to the increasing popularity of herbicide-tolerant hybrids and the widespread use of GM crops like pumpkin, potato, sugar beet, and papaya in this region.
Recent Developments:
- In March 2022, BASF and Corteva Agriscience agreed to cross-license soybean traits and develop complementary herbicide technologies (including glyphosate tolerance) to enable both companies to offer novel soybean weed management solutions to farmers around the world.
Glyphosate Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 10.66 Bn |
|
Revenue Forecast In 2031 |
USD 19.68 Bn |
|
Growth Rate CAGR |
CAGR of 7.2 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn, Volume (KT) and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Crop Type, Application, Function |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
HPM Chemicals & Fertilizers Ltd., Indofil Industries Ltd., Monsanto Australia Ltd., Nufarm Ltd., Dow AgroSciences Australia Ltd., BASF SE, Corteva Agriscience, Syngenta AG, Adama Agricultural Solutions Ltd, Sikko Industries Ltd, SinoHarvest, DuPont, Nantong Jiangshan Agrochemical & Chemicals Co., Ltd., Zhejiang Xinan Chemical Industrial Group Company, Ltd, Jiangsu Good Harvest-Weien Agrochemical Co., Ltd, Anhui Huaxing Chemical Industry Company, Bayer CropScience, Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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