Global Glyphosate Market Outlook, Industry Analysis and Prospect 2023
The glyphosate is widely used in cereals & grains, weed removal, oilseed & pulses, fruits & vegetables among others. The global glyphosate market is spanned across five regions of the world namely, Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa. Asia Pacific market is projected to grow at a rapid pace. The growing demand for agricultural produce along with the increasing use of glyphosate for removal of weed is expected to boost the market in this region. Moreover, the changing farming practices in the region is also
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expected to affect the market growth
positively. South America is anticipated to be one of the largest markets of
glyphosate mainly driven by Brazil and Argentina. The growing production of
genetically modified crops in the region is expected to drive the growth of the
market. Among the various crop type, genetically modified soya bean is
anticipated to be the largest type during the review period. Europe is expected
to show a steady growth during the forecast period. The growing application in
removal of weed coupled with approval of European Union for the use of
glyphosate is expected to augment the market growth further.
Segmentation
The global glyphosate market is
segmented into crop type, from application and region. On the basis of the crop
type, the global market of glyphosate can be 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 segmented into Asia Pacific,
North America, Latin America, Europe, and the Middle East & Africa.
Regional Market Summary
Asia-Pacific is expected to dominate
the market for glyphosate during the forecast period. The high adoption of
modern agriculture practices, high prevalence of weed growth, and adoption of
genetically modified crops in the region have contributed to the growth of the
market. The region is projected to register the highest CAGR during the
forecast period. China, India, and Japan contribute significantly to the
increasing demand in Asia-Pacific. North America is the second-largest market
for glyphosate.
Key Players
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)
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