Press release
Glyphosate Industry to Achieve $16.75 Billion Growth by 2029
Glyphosate Market
How Will the Glyphosate Market Grow by 2025 in Terms of Size and Growth?
The glyphosate market has seen significant growth in the past few years. It's projected to increase from a value of $10.92 billion in 2024 to $11.8 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%. This growth during the historical period is largely due to the initiation of genetically modified (GM) crops, enhancements in agricultural productivity, the emergence of no-till farming practices, the worldwide expansion of agriculture, and the cost-efficiency and flexibility of the product.
What Are the Estimated Growth Rates for the Glyphosate Industry Through 2029?
In the coming years, the glyphosate market is projected to experience robust expansion, reaching $16.75 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 9.2%. The likely growth during the forecast period is due to factors such as the development of alternative ways to control weeds, stricter regulations and environmental worries, the escalating use of precision agriculture, a transition to more sustainable farming practices, and shifts in public awareness and consumer preferences. Key trends during this period are expected to be technological advancements in herbicides, movement towards sustainable farming, strategies for dealing with resistance, an increase in the adoption of Genetically Modified (GM) crops, as well as regulatory oversight and prohibitions.
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What Are the Strategic Drivers Boosting Glyphosate Market Performance?
The glyphosate market is expected to flourish due to the increasing requirement for fertilizers. The escalating global populace necessitates increased food, water, and agricultural supplies. Farmers are adapting to contemporary farming methods in order to heighten crop yield and optimize revenue. Farmers are also maximizing the utilization of fertilizers to accelerate crop growth and provide protection. For instance, the International Fertilizer Association, based in Paris, predicted a global fertilizer consumption resurgence of 4% in 2023, amounting to 192.5 million metric tons (mmt). This surge in fertilizer requirements is anticipated to stimulate the glyphosate market.
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What Are the Segments in the Glyphosate Market?
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
Subsegments:
1) By Genetically Modified Crops: Herbicide-Tolerant Soybeans, Herbicide-Tolerant Corn, Herbicide-Tolerant Cotton
2) By Conventional Crops: Wheat, Barley, Fruits and Vegetables
What Are the Key Adoption Trends in the Glyphosate Market?
Major firms in the glyphosate market are actively engaging in strategic partnerships with the aim of investing in innovative technologies and broadening the range of options available to farmers. This approach entails companies drawing on each other's assets and capabilities to reap mutual advantages and attain success. As an illustration, in August 2022, Corteva Agriscience, a worldwide agronomy firm based in the US addressing agro-based issues, entered into a collaboration with BASF SE. BASF SE is a multinational chemical corporation based in Germany, supplying chemicals and crop protection products. The aim of this partnership is the development of herbicide-resistant soybeans and corresponding herbicides for North American farmers and beyond. The partnership includes traits enabling tolerance to BASF's Liberty and PPO blocking herbicides, as well as Corteva's Enlist herbicides, glyphosate, and a new herbicide mechanism currently in BASF's research pipeline.
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Which Companies Lead the Competitive Landscape of the Glyphosate Industry?
Major companies operating in the glyphosate market include Sinochem Corporation Limited, BASF SE, Dow AgroSciences LLC, Syngenta Group AG, Bayer CropScience AG, Corteva Agriscience LLC, 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., 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.
Where Are the Key Glyphosate Market Opportunities by Region?
Asia-Pacific was the largest region in the glyphosate market in 2024. 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.
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