Glyphosate Market Analysis by Product Types & Applications; Industry Top Players, Regions & Market Overview

The global glyphosate market remains a complex and dynamic landscape in 2024. Glyphosate, the active ingredient in popular herbicides like Roundup, is widely used for weed control in agriculture, but faces ongoing scrutiny regarding its potential health and environmental impacts. This press release explores the current state of the glyphosate market, analyzing trends, drivers, restraints, and future growth opportunities.

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Market Overview and Trends

The glyphosate market is projected to reach USD 13.31 billion by 2027, according to a report by Reports and Data. Growth is driven by factors such as:

Cost-effectiveness: Glyphosate remains a preferred herbicide due to its affordability and broad-spectrum weed control.

Soil improvement: Glyphosate use can help preserve soil fertility and water quality by reducing the need for mechanical tillage.

Rising agricultural demand: Increasing global population necessitates efficient weed control for maximized crop yields.

However, the market also faces significant challenges:

Regulatory concerns: Ongoing lawsuits and potential regulatory restrictions due to health and environmental worries might impact glyphosate usage.

Weed resistance: Overreliance on glyphosate has led to the emergence of herbicide-resistant weeds, prompting the need for alternative solutions.

Public perception: Consumer concerns regarding the safety of glyphosate can influence purchasing decisions and impact market growth.

SWOT Analysis

Strengths:

Proven effectiveness in weed control

Cost-competitive advantage

Established presence in global agriculture

Weaknesses:

Potential health and environmental risks

Growing weed resistance

Negative public perception

Opportunities:

Development of new, safer glyphosate formulations

Innovation in alternative weed control technologies

Expansion into emerging agricultural markets

Threats:

Stricter regulations and potential bans

Increased competition from alternative herbicides

Consumer backlash against glyphosate use

Strategic Developments and M&A Activity

The glyphosate market has seen significant mergers and acquisitions (M&A) activity in recent years. For example, Bayer's acquisition of Monsanto in 2018 positioned them as a major glyphosate player. However, Bayer has also faced billions in settlements from lawsuits related to glyphosate use . This highlights the ongoing legal and reputational risks associated with the herbicide.

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Key Market Insights

The glyphosate industry is very offline-intensive and witnesses transparency. The offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs, along with considerable knowledge of the market on the seller side.

The increasing need for better crop yield and the reduction of arable land has prompted an increase in the demand for herbicides, which is the primary driving factor of the glyphosate market. Herbicides also decrease the need for manual and mechanical weeding. This is boosting its demand, particularly in developing economies. A rising focus on food security has facilitated the adoption of herbicides for the efficient cultivation of mixed crops and to enhance crop yield.

North American region may be primarily attributed to the surging demand for herbicide application for the production of high-value crops. Glyphosate is the most commonly used herbicide to control invasive species in the US. Besides arable lands, glyphosate is essential for invasive and noxious weed control in forestry, pastures/rangelands, aquatic systems, public lands, and rights-of-way applications.

Companies considered and profiled in this market study

Nufarm Limited, Bayer AG, The Dow Chemical Company, Zhejiang Xinan Chemical Industrial Group Company Limited, United Phosphorous Limited, E.I. Du Pont De Nemours and Company, Nantong Jiangshan Agrochemical & Chemical, Inc., Syngenta AG, ADAMA Agricultural Solutions Limited, and Monsanto Company, has been profiled in the report.

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This release was published on openPR.