Glyphosate Market is estimated to be US$ 16.00 Billion in 2030 at a CAGR 6.1% during the forecast period
Glyphosate Market accounted for US$ 9.36 billion in 2020 and is estimated to be US$ 16.00 billion by 2030 and is anticipated to register a CAGR of 6.1%. Glyphosate is a broad-spectrum systemic herbicide and crop desiccant. It’s an organophosphorus compound, specifically a phosphonate, which acts by inhibiting the plant enzyme 5-enolpyruvylshikimate-3-phosphate synthase. Farmers quickly adopted glyphosate for agricultural weed control, especially after introduction of glyphosate-resistant Roundup Ready crops, enabling farmers to kill weeds without killing their crops. Glyphosate is an herbicide which is applied to the leaves of crops to kill unwanted weeds and grasses grown with plants. It prevents the crops from producing certain type of protein which is responsible for plant growth. Glyphosate comes in various forms such as acid and several salts which can be solid or an amber coloured liquid. Glyphosate is widely used in agriculture and forestry, lawns and garden, and weeds in industrial areas.
The report " Global Glyphosate Market, By Crop Type (Genetically Modified Crops and Conventional Crops), By Form (Liquid and Dry), By Application (Agricultural and Non-Agricultural), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
- In October 2020, Bayer launched a product named Roundup PowerMAX 3 herbicide, with the highest concentration of glyphosate in the US market.
Analyst View:
Increasing technological advancements in the production process of glyphosate is anticipated to fuel growth of the target market in the near future. Increasing demand for genetically engineered crops has in turn created demand for glyphosate which is a major factor driving growth of the global glyphosate market. Rapid growth in modern agricultural developments across the globe is boosting demand for glyphosate and supporting growth of the global glyphosate market.
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Key Market Insights from the report:
The Global Glyphosate Market accounted for US$ 9.36 billion in 2020 and is estimated to be US$ 16.00 billion by 2030 and is anticipated to register a CAGR of 6.1%. The Global Glyphosate Market has been segmented on the basis of crop type, application and region.
- By Crop Type, the market is segmented into Genetically Modified Crops and Conventional Crops.
- By Application, the market is segmented into Agricultural and Non-Agricultural.
- By Region, the Global Glyphosate Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The Key players in the global glyphosate market include Nantong Jiangshan Agrochemical and Chemicals Co., Ltd., Syngenta AG., Dow AgroSciences LLC., Monsanto Company, E. I. du Pont de Nemours and Company, and Nufarm Ltd., Adama Agricultural Solutions Ltd., UPL Limited, and Zhejiang Xinan Chemical Industrial Group Co., Ltd.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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