Glyphosate Market Opportunities, Business Forecast To 2029

The global glyphosate market size was valued at USD 10,873.2 million in 2022 and is expected to grow at a 6.1% CAGR from 2023 to 2029. The primary drivers of the expansion of the global glyphosate market include the increasing demand for glyphosate in agriculture and growing preference of glyphosate to protect fertility, water quality and soil erosion. In addition, growing modern agriculture practices is expected to boost the growth of glyphosate market over the forecast period.

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Genetically Modified Crops Segment is expected to Dominate the Glyphosate Market:
Based on the crop type, the global Glyphosate market is segmented into genetically modified crops and conventional crops. The genetically modified crops segment is expected to account for a larger revenue share in the global glyphosate market. The genetically modified crops are resistant to potent herbicides which helps the farmers in controlling the weed growth more efficiently. Increase in production of genetically modified crops like corn, cotton, soybean in countries like US, Australia, India is expected to boost the growth of Glyphosate market in this segment. In addition, evolving agricultural techniques are anticipated to trigger the growth of glyphosate market over the forecast period.

Asia Pacific Glyphosate Market:
The Asia Pacific glyphosate market is expected to increase over the forecast period due to availability of large arable land and highest crop diversity in this region. in addition, increase in adoption of advanced agricultural practices, increasing approval of herbicide resistant plants in countries like China and increasing demand for genetically modified crops in this region is expected to boost the growth of glyphosate market at a significant rate over the forecast period. Whereas, strict government regulations and restrictions on the use of glyphosate due to its harmful carcinogenic effects on human health is expected to hold the growth of glyphosate market in regions like India, China. Thus restrains the growth of market in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Glyphosate market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In March 2019, Bayer AG, launched glyphosate free residual herbicide to expand company's product offerings.

The Global Glyphosate market is segmented based on crop type, application, function, and geography.

Based on the crop type, the market is segmented into the following:
• Genetically Modified Crop
• Conventional Crop

Based on the application, the market is segmented into the following:
• Agriculture
• Household
• Industrial
• Others

Based on the function, the market is segmented into the following:
• Weed Management Solution
• Improve Soil Health
• Improved Planting Efficiency
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players profiles in the Glyphosate market report are 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.

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This release was published on openPR.