The global Glyphosate Market was valued at around USD 5 billion in 2012. It is likely
to reach USD 9 billion over the forecast period (2016-2024). Increasing
population and the rise in demand for genetically modified (GM) crops are
expected to driver of the glyphosate market.
Increase in crop consumption for biofuels and animal feed can propel
market growth in the coming years. Moreover, development in the field of
genetically modified crops promoting weed resistance is likely to boost market
growth. This product helps farmers in reducing the degree of tillage, further
positively affect the market.
Glyphosate is used extensively in gardens and home landscaping. It
effectively kills annual and perennial grasses along with dandelions, broadleaf
weeds, shrubs, poison ivy, kudzu, and other weeds.
Using this product in a large quantity can lead to an increase in
immunity in the weeds. Additionally, it can increase the toxicity related risks
can also challenge the growth of the glyphosate industry. The market is
bifurcated into applications and regions.
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Applications comprise of conventional crops and genetically modified. The
conventional crops segment dominated the demand accounting to over 52% of the
total consumption in 2014. However, the genetically modified crop based
application can exhibit the highest gain over the forecast period.
Regions are divided into North America, Europe, Asia Pacific, and the RoW
(Rest of the World). Asia Pacific held the largest market in 2013. It is
expected to continue doing so, over the forecast period, owing to the rapid
adoption of the product in countries like India and China.
North America can exhibit substantial growth over the eight years. The
growth can be attributed to the awareness of the increase in agricultural
yield. However, European glyphosate industry held around 15% of market share in
terms of total volume, in 2014. However, it is likely to show less demand due
to the unfavorable regulations of the region.
Zhejiang Xinan Chemical Industrial Group Company Limited,
Monsanto, BASF SE, and SinoHarvest Corporation are some of the major
competitors of the global glyphosate market. Monsanto is leading the worldwide
market, owing to the role in the introduction and adoption of crops that are
glyphosate-tolerant. The players engage in mergers and acquisitions as a part
of their strategic activities.
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