Press release
Glyphosate Market Report 2024-2033: Size, Growth, Trends, Analysis, Demand, Key Players
Glyphosate Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $15.48 billion In 2028 At A CAGR Of 8.9% :
The glyphosate market size has grown strongly in recent years. It will grow from $10.06 billion in 2023 to $10.99 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to introduction of genetically modified (GM) crops, increased agricultural productivity, rise in no-till farming practices, global expansion of agriculture, cost-effectiveness and versatility.
The glyphosate market size is expected to see strong growth in the next few years. It will grow to $15.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of alternative weed control methods, stringent regulations and environmental concerns, increased adoption of precision agriculture, shift towards sustainable agriculture, public awareness and consumer preferences. Major trends in the forecast period include technological advancements in herbicides, shift towards sustainable agriculture, resistance management strategies, increasing adoption of genetically modified (GM) crops, regulatory scrutiny and bans.
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Glyphosate Market Major Segments
The glyphosate market covered in this report is segmented -
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Form: Liquid, Dry
3) By Application: Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, Other Applications
Key Driver - Rising Fertilizer Demand Driving Glyphosate Market Growth
The increase in demand for fertilizers will propel the growth of the glyphosate market. The growing world population will be demanding more food, water, and agricultural products, so to meet this demand, farmers are using modern agricultural methods to grow plants and crops to earn maximum profits. Farmers are using maximum quantities of fertilizers to protect and grow crops faster. For instance, according to the Food and Agriculture Organization, the global demand for fertilizer nutrients was estimated to be 185,063 tons in 2016, and it is expected to reach 200,919 tons by the end of 2022. Thus, an increase in demand for fertilizers will drive the glyphosate market.
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Prominent Trend - Transformative Collaboration In Glyphosate Market
Major companies operating in the glyphosate market are adopting a strategic partnerships approach to invest in innovative solutions and expand market options for farmers. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2022, Corteva Agriscience, a US-based global agriculture company providing solutions to agricultural challenges, partnered with BASF SE, a German-based multinational chemical company that offers chemicals and crop protection products. This collaboration aims to develop future herbicide-tolerant soybeans and complementary herbicides for farmers in North America and beyond. This package encompasses traits conferring tolerance to BASF's Liberty and PPO inhibiting herbicides, as well as Corteva's Enlist herbicides, glyphosate, and a novel herbicide mode of action currently in development at BASF.
Glyphosate Market Players
Major companies operating in the glyphosate market report are Sinochem Corporation Limited, BASF SE, Dow AgroSciences LLC, Syngenta Group AG, Bayer CropScience AG, Corteva Agriscience LLC, United Phosphorous Limited, UPL Limited, Food Machinery and Chemical Corporation, Adama Agricultural Solutions Ltd., Luxi Chemical Group Co. Ltd., Nufarm Limited, Zhejiang XinAn Chemical Industrial Group Co. Ltd., Wynca Group Limited, King Quenson Industry Co. Ltd., Hubei Sanjiang Fine Chemical Co. Ltd., Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Anhui Huaxing Chemical Industry Co. Ltd., Fuhua Group Co. Ltd., American Vanguard Corporation, Jiangsu Good Harvest-Weien Agrochemical Co. Ltd., Excel Crop Care Limited, Willowood Industries Limited, Jiangsu Xinyu Agrochemical Co. Ltd., Anhui Zhongnong Chemical Co. Ltd., Monsanto India Limited, Sinoharvest Corporation, Shandong Lvye Chemical Co. Ltd., Shandong Lianfeng Pesticide Co. Ltd., Henan Yuxing Agrochemical Co. Ltd., Jiangsu Huaxing Chemical Co. Ltd., Shandong Shuangfeng Chemical Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the glyphosate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the glyphosate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Glyphosate Market Report Structure
3. Glyphosate Market Trends And Strategies
4. Glyphosate Market - Macro Economic Scenario
5. Glyphosate Market Size And Growth
…..
27. Glyphosate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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