Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Jan 16, 2020 5:57 AM ET

Glyphosate Market is Growing at CAGR of 7% During 2020-2025

Glyphosate Market is Growing at CAGR of 7% During 2020-2025

iCrowd Newswire - Jan 16, 2020

Glyphosate Market is forecast to reach $23 billion by 2025, after growing at a CAGR of 7% during 2020-2025. With the region growing under herbicide-tolerant crops and more and more countries accepting plant herbicide-tolerance technologies, the market is expected to expand inorganically with accelerated farmer acceptance. Concerns about the environmental hazards persist in developed markets, however due to the lack of development of effective substitutes to glyphosate the demand is not predicted to drop. 
Key Takeaways
  • In 2018, organic crops led the global market volume; glyphosate is used two or three weeks before crops like maize, sorghum, sunflower, etc. are sown. It tends to significantly reduce tillage along with successful weed control. Over the forecast period, GM crops are expected to experience high growth, primarily as a result of increasing adoption in Latin America, China and India.
  • Participants in the major industry are Monsanto, Syngenta, Nufarm, Dow AgroSciences and DuPont. Other companies include, for the most part, BASF, Bayer and a large number of Chinese producers.Key players have supported the design of weed management systems that help minimize adverse impact on the environment and monitor weeds across different modes compared to traditional glyphosate applications.
By Crop Type- Segment Analysis
The use of GM crops is expected to experience the highest growth by 2024. Increasing consumer awareness of the effects of genetically-modified crops and the minimal impact of the seed on the plant would raise the demand for the product.A large proportion of genetically engineered crops were designed to be glyphosate-resistant herbicide in order to use herbicide to destroy the weeds around the plant. According to the Canadian Biotechnology Action Network (CBAN), about 88 percent of the world’s GM crops are resistant of rising herbicides on about 400 million acres of land.Conventional crops led the global market for glyphosate, with a production of over 50 percent in 2015. The need to increase agricultural output has increased the use of glyphosate in crops such as citrus, grains of cereals, orchards, vegetables of legumes and crops of oilseed. According to the FAO, the global population is expected to cross 9.1 billion people by 2050, requiring an overall food production growth of 70 percent between 2007 and 2050. It is further anticipated that high cost effectiveness along with increased awareness of the product’s varied functionalities to promote yield growth for conventional crops will have a significant long-term effects.
By Application – Segment Analysis
In 2019, heavy use as an effective herbicide agent in the agricultural sector is expected to fuel the development of the glyphosate industry over the forecast period. It is used to prevent unwanted widespread weed from growing, thereby increasing agricultural production. It also tends to promote the growth of plants & encourages the maturation of certain crops such as cotton, canola, soybean, berry crops and maize.The product is highly effective in the management of harmful and invasive weeds. Additional functionalities & applications generate new growth avenues for industry participants in integrated pest management. In addition, the product adoption will be driven by the availability and use of glyphosate in various formulations such as ready-to-use liquid, liquid concentrate, and solid form.
Geography- Segment Analysis
For companies operating in the glyphosate herbicide market, the Asia-Pacific region and the North American region present equally attractive opportunities. The North American area is expected to remain one of the fastest-growing regions due to the rising penetration rates of herbicide-tolerant hybrids. It is estimated that about 56 percent of U.S. use of glyphosate was projected for herbicide-tolerant plants.Business growth is expected to be more natural in the Asia-Pacific region. The area has the world’s highest arable land with the largest variety of crops. It is expected that increased adoption of advanced agricultural practices such as zero-tillage will bring growth to the region’s herbicide glyphosate market.While China has granted permission to grow herbicide-tolerant hybrids, the constraint remains with respect to India, which still has to approve any genetically modified hybrids in food crops.
Drivers –Glyphosate Market
  • Approvals for herbicide-tolerant crop hybrids essential leads the market growth.
Herbicide tolerant crop hybrids are genetically engineered hybrids where crops tolerate non-selective herbicides like glyphosate. Because glyphosate is the most effective herbicide that aims to fully control plants, regardless of species and biology, many research and development efforts are based on tolerance to glyphosate. Bayer Cropscience, which completed Monsanto Company’s acquisition in 2018, holds a patent for RoundUp-Ready hybrids in crops such as corn,soybean, and cotton, with Roundup-Ready Soybeans holding a large share of the land in the United States, Argentina and Brazil.Farmer-level adoption of herbicide tolerance technology is expected to be rapid, but the long-term backlog of approval with government agencies in India and European Union countries is slowing down the growth spurt that could help inorganic growth on the global glyphosate market.
Challenges – Glyphosate Market
  • Lacks of standards and specifications is constraining the market growth.
Problems arise when standards conflict with specifications and product performance, or lack of standards. There may be a paradox when over-expectation and mis-specification outweigh the capacity of material performance and the struggle to save the resources of the planet.Inspection and consulting work is required due to over-expectation of the product, low-quality workmanship and misconception of the characteristics of product performance. We have entered an exciting, yet challenging, and sometimes frustrating, time with recent technological advances.Materials are becoming stronger, more chemically resistant, more biodegradable, and more recyclable due to new technologies and sustainability. But these positive changes come with unintended consequences and conditions created by complacency with the status quo, naivety, and, unfortunately, ignorance of the subject matter.
Market Landscape
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the Glyphosate market. In 2019, the market of Glyphosatehas been consolidated by the top five players accounting for xx% of the share. Major players in the Glyphosate Market areAnhui Huaxing Chemical Industry Company Ltd., BASF Corporation, Bayer Cropscience Ltd., DuPont, Dow AgroSciences, FMC Corporation, Monsanto Company, Jiangsu Good Harvest-Weien Agrochemical Co. Ltd., Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Nufarm Limited, SinoHarvest Corporation, Syngenta, and Zhejiang Xinan Chemical Industrial Group Co. Ltd.,among others.

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Contact Information:

Media Contact:
Mr. Venkat Reddy
Sales Director
Email: [email protected]
Contact Sales: +1970-236-3677

Keywords:    Glyphosate Market, Glyphosate Market Size, Glyphosate Market Share, Glyphosate Market Analysis, Glyphosate Market Revenue, Glyphosate Market Trends, Glyphosate Market Growth, Glyphosate Market Research, Glyphosate Market Outlook, Glyphosate Market Forecast

Tags:    Extended Distribution, Research Newswire, English