The Glyphosate Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Glyphosate Global Market Report 2024, The glyphosate market size has grown strongly in recent years. It will grow from $10.06 billion in 2023 to $10.99 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to introduction of genetically modified (GM) crops, increased agricultural productivity, rise in no-till farming practices, global expansion of agriculture, cost-effectiveness and versatility.
The glyphosate market size is expected to see strong growth in the next few years. It will grow to $15.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to emergence of alternative weed control methods, stringent regulations and environmental concerns, increased adoption of precision agriculture, shift towards sustainable agriculture, public awareness and consumer preferences. Major trends in the forecast period include technological advancements in herbicides, shift towards sustainable agriculture, resistance management strategies, increasing adoption of genetically modified (GM) crops, regulatory scrutiny and bans.
The increase in demand for fertilizers will propel the growth of the glyphosate market. The growing world population will be demanding more food, water, and agricultural products, so to meet this demand, farmers are using modern agricultural methods to grow plants and crops to earn maximum profits. Farmers are using maximum quantities of fertilizers to protect and grow crops faster. For instance, according to the Food and Agriculture Organization, the global demand for fertilizer nutrients was estimated to be 185,063 tons in 2016, and it is expected to reach 200,919 tons by the end of 2022. Thus, an increase in demand for fertilizers will drive the glyphosate market.
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The glyphosate market covered in this report is segmented –
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Form: Liquid, Dry
3) By Application: Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, Other Applications
Major companies operating in the glyphosate market are focusing on product innovation, such as advanced herbicide-tolerant glyphosate trait technology designed to deliver enhanced weed control and a wider window compared to first-generation glyphosate trait technology. Herbicide-tolerant glyphosate trait technology refers to a genetic trait incorporated into crops that imparts resistance or tolerance to the herbicide glyphosate. For instance, in February 2023, Corteva Agriscience, a US-based global agriculture company, launched Optimum GLY canola, an advanced herbicide-tolerant trait technology for canola. This launch boasts proprietary glyphosate traits, ensuring enhanced weed control, a wider application window, and increased flexibility for farmers. This advanced product contributes to the glyphosate market by providing farmers with innovative solutions for effective and responsible weed management, reinforcing Corteva Agriscience’s commitment to delivering cutting-edge technologies to the agricultural sector.
The glyphosate market report table of contents includes:
1. Executive Summary
2. Glyphosate Market Characteristics
3. Glyphosate Market Trends And Strategies
4. Glyphosate Market – Macro Economic Scenario
5. Global Glyphosate Market Size and Growth
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26. South America Glyphosate Market
27. Brazil Glyphosate Market
28. Middle East Glyphosate Market
29. Africa Glyphosate Market
30. Glyphosate Market Competitive Landscape And Company Profiles
Top Major Players:
- Sinochem Corporation Limited
- BASF SE
- Dow AgroSciences LLC
- Syngenta Group AG
- Bayer CropScience AG
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