WorldWide Glyphosate Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Glyphosate Market

Industry / Sector Trends

Glyphosate Market size valued at USD 3 billion in 2015 and is anticipated to witness over 6.5% CAGR from 2016 to 2024.

 

Europe
Market Segmentation, Outlook & Regional Insights: Glyphosate Market

 Glyphosate Market, By Application, 2015 & 2024 (USD Million)

 

Strong application in the agriculture sector as an active herbicide agent is likely to propel the glyphosate market growth over the projected timeframe. It is used to prevent the growth of unwanted broadleaf weed, thus augmenting the agricultural production. Further, it aids in stimulating plant growth & supports ripening of certain crops such as cotton, canola, soybean, berry crops, and corn. The product is highly effective in managing of noxious and invasive weeds. Additional functionalities & applications in integrated pest management is generating new growth avenues for industry participants. Moreover, glyphosate availability and usage in various formulation such as ready-to-use liquid, liquid concentrate, and solid form will drive the product adoption.
 

Increasing product usage in soil enhancement activity is likely to fuel the product demand over the projected timeline. Growing preference for glyphosate for protecting soil erosion, fertility, and water quality will support the industry expansion. Product advantages over mechanical tillage system such as low cost, less soil & environment degradation, thereby supporting the glyphosate market expansion. Also, cost effectiveness of the product accompanied by expanding distribution network will positively influence the business advancement.   
 

Growing global food demand along with reducing per arable land area has enhanced the need for developing innovative farming practices that will aid in increasing yield per hector. Application of glyphosate in facilitating yield growth is further expected to propel overall industry share. Further, strong development in the global herbicide industry supported by favorable trade policies will support the industry growth up to 2024. Favorable policies pertaining to the use of herbicides in agricultural practices by various agencies including EPA and FAO will further accentuate overall market growth.
 

Several concerns and perception regarding carcinogenic nature of crops treated with glyphosate is likely to create hindrance for market growth. However, recent studies by the U.S. Environmental Protection Agency (EPA) found that glyphosate is a safe herbicide for agriculture use if used within the permissible limit. Also, in August 2016, New Zealand EPA published a report stating glyphosate is unlikely to be carcinogenic.
 

 By Application

GM crop application is anticipated to witness significant gains over 7.5% by 2024. Increasing consumer awareness relating to advantages of genetically modified crops accompanied by negligible effect of the product on plant will escalate the product demand. Large share of genetically engineered crops is developed to be herbicide resistant to glyphosate so that herbicide is used to kill only weeds around the crop. According to the Canadian Biotechnology Action Network (CBAN), around 88% of the global GM crops are tolerant to herbicide growing at around 400 million acres of land.
 

North America Glyphosate Market, By Application 2015 (USD Million)
 

Conventional crop application dominated the global glyphosate market, accounting for over 50% share in 2015. Necessity to increase the agricultural output has augmented the use of glyphosate for crops such as citrus, cereal grains, orchards, legume vegetable and oilseed crops. As per FAO, the global population is projected to cross 9.1 billion people by 2050, requiring 70% growth in overall food production between 2007 and 2050. High cost effectiveness along with rising awareness on varied functionalities of the product to support yield growth for conventional crops is further expected to create long-term positive impact.
 

By Region

North America is expected to witness growth of more than 6.5% by 2024. Strong agricultural support programs by various agencies including FAO, and EPA to address growing concerns and consumer perception on environment and health effects of glyphosates is anticipated to fuel market growth for the projected timeframe. Also, presence of large multinational players involved in production of genetically modified crops will further aid in market expansion. The U.S. holds around 40% of the global biotech crops production area in 2017 and is anticipated to dominate the global production owing to high regional spending on research & development.
 

Asia Pacific Glyphosate Industry, By Application, 2015 (Tons)

 

Asia Pacific accounted for over 35% market share by volume in 2015. China and India are among the leading agricultural nations and hold a substantial share in the regional glyphosate market. Robust growth in the regional GM crops production supported by government policies will drive the regional share over the forecast timeframe. For instance, India’s agricultural area for biotech crops increased from 10.8 million hectares in 2016 to 11.4 million hectares in 2017. Also, South Korea government has introduced national program for developing biotech crops. Moreover, considerable population growth supported by economic development has fuelled the demand for food & beverage products, creating a necessity to improve the regional agricultural productivity.
 

Key Players, Recent Developments & Sector Viewpoints: Glyphosate Market


Global glyphosate industry is consolidated due to presence of few dominating players. Key market players include BASF Corporation, DuPont, Bayer Cropscience Ltd, Anhui Huaxing Chemical Industry Company Ltd, Dow AgroSciences, Monsanto Company FMC Corporation, and Jiangsu Good Harvest-Weien Agrochemical Co., Ltd. The key strategies adopted by industry participants include mergers & acquisitions, strategic collaborations, and supply chain agreements. For instance, in June 2018, Bayer AG announced that it has completed acquisition of US-based biotech major Monsanto in deal reported to be of USD 63 billion. This acquisition will help Bayer to support its vison of becoming leading agricultural company.
 

 Industry Viewpoint

The global herbicide market is projected to grow at over 5% annually up to 2024. Reducing arable land area coupled with necessity to improve the economic viability of agricultural fields is fuelling the adoption of herbicides. Glyphosate holds a substantial share in the global herbicides industry owing to high production rates and usage in various crop protection products. The market is driven by growing demand from agriculture sector. Favourable government policies and growing investment by private sector will support the industry expansion. Increasing necessity to increase yield per hector to tackle growing food demand generated due to rising population will further support market advancement for coming year

Key Insights Covered: Exhaustive Glyphosate Market
1.  Market size (sales, revenue and growth rate) of Glyphosate industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Glyphosate industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Glyphosate industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Glyphosate industry.

Research Methodology: Glyphosate Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.