Glyphosate Market Research Report – Forecast to 2023
Glyphosate is used in a wide range of applications such as grains & cereals, oilseeds & pulses, fruits & vegetables, and weed removal among others. The growing depletion of arable land across the globe has augmented the use of pesticides and herbicides for higher yield thereby positively impacting the growth of the Global Glyphosate Market. Moreover, the growing demand for Glyphosate for the removal of weed is another factor surging the market growth.
The Global Glyphosate Market is segmented into Crop Type, From Application, and Region. On the basis of the crop type, the Global Glyphosate Market is segmented into genetically modified crops, conventional crops. On the basis of the form, the market is segregated into liquid form and dry form. On the basis of the application, the market is further segmented into grains & cereals, oilseeds & pulses, fruits & vegetables, weed removal, and others. On the basis of the region, the Global Glyphosate Triglycerides Market is bifurcated into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
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Some of the prominent players in the Global Glyphosate Market are Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow chemical company (U.S.), Nufarm Limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd (China).
Among the various applications of the Glyphosate, the grains and cereals was the dominant segment in 2016 and is expected to show the same trend during the given period 2017-2023. The growing production of grains and cereals such as rice, corn, and wheat among others is contributing to the growth of the segment. On the basis of the crop type, the conventional crop segment is the largest segment. Whereas, the genetically modified crop is expected to grow at the highest CAGR during the forecast period. The changing farming practices in the dominant agricultural economies is anticipated to boost the segment growth.
The Global Glyphosate Market is spanned across five key regions: Europe, Asia Pacific, North America Latin America, and the Middle East & Africa. Among these, Asia Pacific is the fastest growing market during the forecast period. The presence of the major agriculture-dependent countries has augmented the use of Glyphosate in the agricultural farms. Moreover, the growing population has increased the need for agricultural produced in turn fuelling the demand for glyphosate. European Glyphosate Market is anticipated to show steady growth during the forecast years. The growing use of glyphosate as an effective and efficient weed removal product is driving the growth in the region.
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