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Glufosinate Market to Surpass $3.97 Billion by 2029 | Key Trends & Insights
Glufosinate Market Size
How Will the Glufosinate Market Grow by 2025 in Terms of Size and Growth?
There has been a significant growth in the size of the glufosinate market over the past few years. It is projected to escalate from $2.53 billion in 2024 to $2.75 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this growth during the historical period include the increased adoption of genetically modified (gm) crops, advancements in agricultural productivity, overall global expansion in agriculture, implementation of resistance management strategies, and a supportive regulatory framework.
What Are the Estimated Growth Rates for the Glufosinate Industry Through 2029?
In the coming years, the glufosinate market is predicted to experience substantial growth, escalating to $3.97 billion by 2029 with a compound annual growth rate (CAGR) of 9.6%. The projected growth during this period could be due to sustained issues with weed resistance, expansion into developing markets, increasing global population, and changes in crop production methods. Key trends during the forecast period are expected to be genetically modified (GM) crops, organic farming and bioherbicides, innovations in herbicide technologies, improvements in formulations, and the rise of sustainable farming practices.
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What Are the Strategic Drivers Boosting Glufosinate Market Performance?
The glufosinate market's growth is projected to be propelled by the expansion of the agriculture sector. This sector, often referred to as agribusiness, involves all farming-related activities, such as crop cultivation, livestock rearing, and food and raw material production. The growth of the agriculture sector is fueled by several factors, including a growing global population that drives higher food demands, favorable government policies that offer key subsidies and incentives, along with advancements in climate-resilient agricultural practices that aid farmers in adjusting to changing environmental conditions. Glufosinate plays a crucial role in this context by effectively managing various types of weeds, even those resistant to glyphosate. This helps crops flourish by minimizing competition for essential resources such as nutrients, sunlight, and water. For example, the Department for Environment, Food, and Rural Affairs, a UK government department, reported in February 2024 that agriculture added £13.9 billion ($17.4 billion) to the UK's GDP at basic prices in 2022, representing 0.6% of the total GDP, with an increase of £1.8 billion ($2.25 billion) in Gross Value Added (GVA) compared to 2021. Therefore, the expanding agriculture sector is fuelling the growth of the glufosinate market.
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What Are the Segments in the Glufosinate Market?
The glufosinate market covered in this report is segmented -
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Formulation: Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, Other Formulations
3) By Application: Non-Agricultural, Agricultural, Oilseeds And Pulses, Grains And Cereals, Fruits And Vegetables, Other Applications
Subsegments:
1) By Genetically Modified Crops: Soybeans, Corn, Canola, Cotton, Other genetically modified crops
2) By Conventional Crops: Wheat, Rice, Barley, Sugar beet, Other conventional crops
What Are the Key Adoption Trends in the Glufosinate Market?
Leading businesses in the glufosinate market are directing their efforts towards innovating progressive herbicides like non-selective herbicides, to ensure improved comprehensiveness of weed control and support enduring agriculture. Non-selective herbicides are engineered to manage or eradicate a broad spectrum of plant species, devoid of any specific focus on certain plant types. For example, in January 2022, BASF, a chemical corporation based in Germany, introduced the L-Glufosinate 10% SL, a non-selective herbicide, to the Chinese agricultural community. The L-Glufosinate from BASF demonstrates superior efficiency as it changes inactive D-glufosinate ammonium into its active state. This amplified efficiency empowers farmers to accomplish similar levels of weed control as with existing products but decreases the necessity for crop protection application by up to 50%. A strong patent fortification enables BASF to augment its competitive edge and foster environmentally-friendly practices in the delivery and utilization of this new herbicide.
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Which Companies Lead the Competitive Landscape of the Glufosinate Industry?
Major companies operating in the glufosinate market include Bayer AG, YongNong BioSciences Co. Ltd., United Phosphorus Ltd., DuPont de Nemours Inc., Hebei Veyong Biochemical Co. Ltd., Jiangsu Huangma Agrochemicals Co. Ltd., Nufarm Ltd., Limin Chemical Co. Ltd., Lier Chemical Company Ltd., Shenzhen Sino-Harvest Industry Co. Ltd., BASF SE, Jiangsu Seven Continents Green Chemical Co. Ltd., Inner Mongolia Jiaruimi Fine Chemical Co. Ltd., Simonis BV, UPL Limited, Dow Inc., Zhejiang Yongnong Chem. Ind. Co. Ltd., Shandong Weifang Rainbow Chemical Co. Ltd., Hubei Sanonda Co. Ltd., Jiangsu Changqing Agrochemical Co. Ltd., Jiangsu Yangnong Chemical Group Co. Ltd., Zhejiang Heben Pesticide & Chemicals Co. Ltd., Jiangsu Flag Chemical Industry Co. Ltd., Jiangsu Fengshan Group Co. Ltd., Jiangsu Good Harvest-Weien Agrochemical Co. Ltd., Jiangsu Huaihe Chemicals Co. Ltd., Jiangsu Redsun Group Co. Ltd., Jiangsu Sinorgchem Technology Co. Ltd., Shandong Luba Chemical Co. Ltd., Shandong Qiaochang Chemical Co. Ltd., Zhejiang Xinnong Chemical Co. Ltd.
Where Are the Key Glufosinate Market Opportunities by Region?
North America was the largest region in the gulfosinate market in 2024. The regions covered in the glufosinate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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