Glyphosate Market Study Analysis with Forecast to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Glyphosate Market- (By Crop Type (Genetically Modified Crop, Conventional Crop), By Application (Agriculture, Household, Industrial, Others), By Function (Weed Management Solution, Improve Soil Health, Improved Planting Efficiency, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Glyphosate Market is valued at US$ 10.66 Bn in 2022, and it is expected to reach US$ 19.68 Bn by 2031, with a CAGR of 7.2% during a forecast period of 2023-2031.

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Glyphosate, an herbicide, is widely utilized in food crop production for its weed-controlling effects. The chemical composition of glyphosate allows for efficient weed management to be accomplished with minimal danger. The leaves are sprayed with chemicals, and the plants use them as a source of nutrition.

The increasing use of cutting-edge farming techniques also contributes to the glyphosate Market's expansion. The rising number of people on Earth has resulted in a higher need for food, energy, water, and agricultural products. This factor is contributing to price increases for agricultural goods. Farmers use new farming equipment to produce plants and crops for maximum profit. Farmers widely use glyphosate as a weed and grass killer. In order to maximize crop yields, farmers in some regions apply the maximum safe dosage of glyphosate. The glyphosate market is heating up for these reasons.

However, the development of glyphosate-resistant weeds and the prohibition of genetically modified crops in some areas are factors that are anticipated to slow market expansion. Throughout the projected timeline, the glyphosate Market is predicted to face resistance from worries about glyphosate's damaging effects on humans and the environment.

List of Prominent 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 Dynamics:
Drivers-
The growing demand for glyphosate is fueled by glyphosate's rising popularity as a soil improver and is expected to be a key driver of the market's expansion. The increased use of glyphosate as a means to preserve soil fertility and water quality and prevent soil erosion is largely responsible for the development.

Glyphosate's advantages over mechanical tillage, such as reduced soil and environmental degradation and low cost, will further contribute to the growth of the product's market. Additionally, during the predicted period, the market will be driven by the increasing demand for glyphosate in the agricultural industry due to its application in reducing the spread of undesirable broadleaf weeds and increasing agricultural output. As a result, the need for glyphosate products is expected to increase in the coming years.

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Challenges:
The prime challenge is high cost, strict regulations, and dynamic and ever-changing developing markets because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the glyphosate market. However, in animal studies, glyphosate overdose has been linked to birth abnormalities, liver illness, and reproductive disorders. In addition, the widespread controversy surrounding genetically engineered crops is expected to slow the market.

Regional Trends:
The Asia Pacific glyphosate market is anticipated to register a major market share in revenue. It is projected to grow at a high CAGR in the near future because of the increasing frequency of weeds in the region, genetically modified crops being used extensively, and the growing popularity of contemporary agricultural practices. More people are becoming aware of the risks of chemical pesticides and the advantages of utilizing glyphosate, driving up the demand for sustainable glyphosate -techniques.

Besides, Europe had a considerable share in the market because of the growing number of government programs that encourage the use of glyphosate chemicals in tree care, the increasing importance of agriculture in the region and the consequent demand for glyphosate to improve soil quality. Moreover, the existance of key market players and the growing cooperation between major players for market penetration in the area enables an opportunity to grow the global glyphosate market.

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.
• In Aug 2021, Jiangshan earned the position of the second-largest global supplier of glyphosate subsequent to its acquisition of Fuhua Tongda. Following the conclusion of the acquisition, Jiangshan acquired full ownership of Fuhua Tongda.

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Segmentation of Glyphosate Market-
By Crop Type -
• Genetically Modified Crop
• Conventional Crop
By Application -
• Agriculture
• Household
• Industrial
• Others
By Function -
• Weed Management Solution
• Improve Soil Health
• Improved Planting Efficiency
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.