Global Glyphosate Herbicide Market - Growth, Trends and Forecasts (2017 - 2022)
The global glyphosate herbicide market is projected to reach USD 10.3 billion by 2020, at a CAGR of 6.8% during the forecast period from 2016 to 2021. Glyphosate is termed as a broad-spectrum systemic herbicide and an organophosphorus compound, specifically a phosphonate. With its inception in 1974 by Monsanto under the trade name Roundup, the usage of the active ingredient has significantly increased in the field of agriculture.
As a major herbicide, glyphosate is applied to the leaves of plants to kill both broadleaf plants and grasses. These are used in crops as well as non-crop plants like turfs and ornamentals. It controls the weed growth by interfering with the enzymatic production of certain amino acids that are essential for the growth of broad spectrum of weeds and their entire root system.
Globally the market for herbicide is driven by the need to increase crop yield and efficiency by way of controlling weed infestation. The worldâ€™s population is growing, but the farmlands have been decreasing pushing farmers to increase their yields. Hence, growing demand for food security along with increasing adoption of GM crops are identified as the major drivers for increased demand of glyphosate. Genetically modified (GM) plants have helped farmers increase their yields coupled with the reduction of use in some pesticides. Cultivation of GM crops like soybean, rapeseed, maize, and cotton in developing regions of Asia-Pacific and South America will provide future potential for the sector. However, the ban on glyphosate in European countries and regulatory constraint over GM crops are the possible challenges faced by the industry.
The global glyphosate market is segmented on the basis of crop type, application and geography. On the basis of crop type, the market has been segmented into GM crops and conventional crops wherein GM crops account for more than 45% of the overall usage. Glyphosate is used for weed control in both crops and non-crops. Application is more in crop based application led by cereals and grains.
Geographically the market is segmented into North America, Europe, Asia-pacific, South America and Africa. Asia-Pacific has the largest consumer base in the world; the market demand is led by major agricultural countries like China and India. North America and Europe followed the list. The rising disposable income levels, rising population and food security have made Asia-pacific, the region with maximum potential for growth. Reportedly, more than 300 glyphosate herbicides from more than 40 different companies are currently registered for sale in Europe. The low affordability and explicit cost cutting measures of farmers hinder the real potential of the market.
Pesticides help to increase farm yields and still have a large scope to improve the overall agricultural production of the world. The major companies producing glyphosate formulations are Syngenta, Bayer, BASF, DuPont, Dow Agrosciences, Monsanto, Syngenta, Nufarm, Nantong Jiangshan Agrochemical & Chemicals Co. Ltd. etc. The current trend to survive in the market is the research and innovation route. All major companies are investing profoundly in new product development to keep up with competition and gain market share. Pesticides were prominent for increased agricultural yields and will remain so in the coming years.
In this report we offer,
Market analysis for the Global Glyphosate Herbicide cides Market, with region specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Glyphosate Herbicide Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.