The global glyphosate herbicide market is expected to register a substantial CAGR during the forecast period, between 2021 and 2028. Glyphosate is a low-toxicity derivative of the amino acid glycine. Glyphosates are insecticides that are used to control and inhibit spore and fungus disease growth. Glyphosate is a widely used herbicide. These glyphosates may be selective for specific infections or may be effective against a variety of fungal diseases. It is an organ phosphorus harvest desiccant and chemical with little herbicidal action in soil that is utilized for foliar spray and crop production applications. It is characterized as a non-selective, post-emergent, systemic herbicide capable of destroying weeds with green foliage. Furthermore, glyphosate promotes plant growth and the growth of specific crops such as maize, berry, soybean, cotton, canola, and others.
Market Trends, Drivers, Restraints, and Opportunities:
- The need for sustainable farming and improving agricultural production by eliminating undesired weeds and herbs in plantations is projected to fuel the market.
- Growing instances of fungal assaults on crops, and also the low cost of using fungicides in comparison to alternative means of control, have increased demand for glyphosate.
- Increasing adoption and implementation of agriculture practices and modern farming techniques boost the market.
- Factors such as growing farm expenditures and food consumption, increasing disposable income are projected to fuel the market.
- High cost as well as strict regulations regulating the use of pesticides and herbicides hinder the market expansion.
- The evolution and emergence of glyphosate-resistant weeds, and health risks induced by glyphosate overuse, are hampering the market growth.
- Organic farming and precision farming are creating lucrative opportunities for the market players.
Scope of the report:
The report on glyphosate herbicide market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
| Attributes | Details |
| Report Title | Glyphosate Herbicide Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Crop Types (Conventional Crops and Genetically Modified Crops), Forms (Dry and Liquid), Applications (Agricultural [Fruits & Vegetables, Grains & Cereals, Oilseeds & Pulses, and Others] and Non-agricultural) |
| Regional Scope | Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
| Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
| Key Players Covered | BASF Corporation; UPL Limited; Bayer CropScience Ltd; ADAMA Agricultural Solutions Ltd.; Corteva Agriscience; Nufarm Limited; and Excel Crop Care Ltd. |
Glyphosate Herbicide Market Segment Insights:
The genetically modified crops segment is projected to hold significant market share
Based on crop types, the glyphosate herbicide market can be bifurcated into conventional crops and genetically modified crops. The genetically modified crops segment is projected to hold significant market share, due to the increased output of genetically altered crops like cotton, soybeans, and corn. Increasing consumer awareness of the benefits of genetically modified crops, along with a negligible effect of the product on plants, drive the segment. A large proportion of genetically modified crops are designed to be herbicide resistant to glyphosate, allowing the herbicide to be used to kill just weeds surrounding the crop.
The liquid segment is anticipated to account for a substantial share
On the basis of forms, the market can be divided into dry and liquid. The liquid segment is anticipated to account for a substantial share. The availability of glyphosate in a variety of formulations, including liquid concentrate, solid form, and ready-to-use liquid, increases the product adoption. The rising implementation and adoption of modern farming techniques and agriculture practices boost the segment.
The agricultural segment is projected to expand at a substantial rate during the projected period
In terms of applications, the glyphosate herbicide market can be split into agricultural and non-agricultural. The agricultural segment can be further segregated into fruits & vegetables, grains & cereals, oilseeds & pulses, and others. The agricultural segment is projected to expand at a substantial rate during the projected period. It is used to avoid the growth of undesired weeds, hence enhancing agricultural yield. It also promotes plant development and the maturation of specific crops such as berry crops, canola, cotton, soybean, and maize. The development of glyphosate-tolerant crops, transgenic, such as roundup ready crops, has resulted in increased glyphosate use.
North America is expected to dominate the market
In terms of regions, the market can be classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to dominate the market. Strong agricultural assistance programs by various organizations to address growing consumer perception and concerns about the health effects of glyphosates are expected to boost the market during the forecast period. Asia Pacific is projected to hold significant market share. India and China are two of the world's major agricultural nations, with a sizable part of the regional glyphosate market. The South Korean government has launched a nationwide effort to create biotech crops. Furthermore, significant population growth, fueled by economic development, has increased demand for beverage and food items, necessitating the improvement of regional agricultural output.
Segments
By Crop Types
- Conventional crops
- Genetically modified crops
By Forms
By Applications
- Agricultural
- Fruits & Vegetables
- Grains & Cereals
- Oilseeds & Pulses
- Others
- Non-agricultural
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
Competitive Landscape
Key players in the glyphosate herbicide market include BASF Corporation; UPL Limited; Bayer CropScience Ltd; ADAMA Agricultural Solutions Ltd.; Corteva Agriscience; Nufarm Limited; and Excel Crop Care Ltd. These players have constantly engaged in various market development strategies such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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