Rockville , Dec. 21, 2023 (GLOBE NEWSWIRE) -- The global glyphosate market is projected to reach US$ 9,784.2 million by 2034, with a CAGR of 4.8% until 2034, driven by its increasing applications in agriculture and non-agricultural sectors. As of 2024, the estimated value of the worldwide glyphosate market is US$ 6,123.4 million.
The glyphosate market is expected to grow due to its increasing use in soil improvement, protection against soil erosion, water quality, fertility, and its advantages over mechanical tillage, such as less environmental and soil damage and affordability.
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The weed killer glyphosate is becoming increasingly well-liked since it is less expensive and has advantages over mechanical tillage methods for the soil and environment. Herbicide-tolerance technology is taking its position in the agricultural sector, propelling market expansion since inorganic crop growth occurs naturally. The market gains from the development of the farm sector, the growing demand for organic food, and more excellent crop quality.
A low-toxicity pesticide called glyphosate is used in agriculture to control weeds in crops such as cereals, grains, legumes, fruits, vegetables, and tubers. Plants directly absorb it as nutrients once it is sprayed on their leaves. Glyphosates are used in two different types of crops: conventional crops and genetically modified crops. Companies that sell genetically modified crops for weed management are part of the market for these crops.
The increasing demand for genetically modified crops in emerging nations is driving up sales of glyphosate products. Modern farming methods, growing agricultural land, and shifting harvesting patterns are the main drivers of this expansion. Farmers are choosing GMO plantations to increase output and profit margins.
| Report Attribute | Details |
| Value Projection (2034) | US$ 9,784.2 million |
| Growth Rate (2024-2034) | 4.8% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 240 Figures |
“The increasing demand for high-value crops drives the glyphosate market, prompting companies to expedite product development and expand their service offerings. However, the global growth of the glyphosate industry is hindered by the emergence of herbicide-resistant weeds, which impedes the industry's ability to meet the growing demand.," says a Fact.MR analyst.
Key Companies Profiled in This Report
- Kalyani Industries Ltd
- Crop Chemicals India Ltd.
- ECOGAURD
- Bharat Group
- Crystal Crop Protection Limited
- Aristo Biotech
- HPM Chemicals & Fertilizers Ltd
- Wynca Group
- ADAMA Ltd
- Albaugh LLC
- GOOD HARVEST
- ENVIRO BioChem
- Drexel Chemical
- DowDuPont
- Nufarm
- BASF.SE
- UPL Ltd
- HELM AG
- Bayer
- Rolfes Agri
Key Takeaways from the Market Study
- The global glyphosate market is projected to expand at a CAGR of 4.8% through 2034.
- The North America glyphosate market is expected to develop a CAGR of 5.8% through 2034.
- The East Asia glyphosate industry is expected to rise at a CAGR of 5.5% through 2034.
- The glyphosate industry in the United States holds a dominant share of 75.2% in 2024.
- The glyphosate industry in China is expected to acquire a market share of 70.3% by 2024.
Growing Demands for Non-Selective Herbicides Command the Global Glyphosate Industry
Global agricultural development, sophisticated farming techniques, evolving harvesting patterns, and the rising need for genetically modified crops have all increased the market for glyphosate products. The commercialization of herbicide-tolerant plants is creating lucrative prospects for industry players, and this growth is boosting the glyphosate market.
The production of pharmaceuticals, agricultural goods, and components for food depends upon major herbicide market participants. To completely utilize glyphosate's economic potential, market participants should articulate their products' value proposition and distinctive qualities. The quality and utility of products can be raised by funding research and development. Forming strategic partnerships with non-selective herbicide industry players can help create distribution networks and a steady customer base.
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The glyphosate market is impacted by the growing demand for organic food, improved crop quality requirements, and the expansion of the agriculture sector, says Fact.MR in its new market research report.
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Country-wise Insights:
By 2034, the glyphosate market in North America is expected to have grown by 5.8%. The main factor driving the expansion is the rising demand for broad-spectrum herbicides in important nations like the United States and Canada. By 2024, crop herbicide solutions are predicted to hold a 75.2% market share in the US. In the meantime, it is anticipated that the non-selective herbicides market in East Asia would grow quickly, with a 5.5% CAGR by 2034. In the East Asian crop protection chemicals sector, China has emerged as a dominant force, holding a substantial 70.3% market share by 2024.
Why is the United States Dominating the Global Glyphosate Market?
“Agricultural Chemical Solutions Drives the United States Herbicide Industry”
According to a recent market assessment, glyphosate sales in the US are expected to reach an astounding US$ 976.3 million by 2024. Furthermore, during the course of the projection period, a steady growth rate of 5.5% is projected for the market. The growing demand in the American agriculture industry for glyphosate, a highly effective weed control method, is one of the main factors propelling this market's expansion.
The price of glyphosate, a crucial herbicide, is rising in the US agriculture industry due to the country's growing population and rising demand for food, energy, water, and agricultural products. Farmers are now using innovative methods to increase agricultural yields and earnings as a result of this.
Farmers in the US frequently apply the herbicide glyphosate to shield crops from undesirable grass and weeds. Its increased yields and effectiveness have made it well-known, and the growing market for agricultural products has made it even more important for farmers.
Glyphosate is being used by American farmers more and more to increase productivity. The market has expanded as a result of this tendency, and it is now an essential component of contemporary agricultural methods.
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