Global Glyphosate Market Overview

Glyphosate is an organophosphorus compound used as a crop desiccant and systemic herbicide. Glyphosate is also used to remove weeds and grasses that hinder plant growth. Herbicides made with glyphosate significantly help in the conservation of the soil quality & resources, restoration of water quality and the reduction of carbon dioxide emissions. These herbicides are also considered as the most effective method to control weed growth across several agricultural and non-agricultural grounds. Extensive usage of glyphosate is also seen for olive groves, forestry, gardens, vineyards, rivers, lakes, fruit orchards, and green pastures. The burgeoning use of genetically modified crops is anticipated to boost the demand for glyphosate during the assessment period.

According to the latest MRFR report, the global glyphosate market is projected to grow at a lucrative CAGR of 5.5% by the end of 2023. Furthermore, growing inclination towards minimum tillage systems is estimated to augment the glyphosate market forecast period further. The rapid penetration of industrialization and growing globalization have reduced the amount of arable land to a great extent. This is upscaling the demand for productive soil supplements, further causing the ascension of the glyphosate market during the forecast period.

Market Segmentation

The global glyphosate market is segmented by Market Research Future (MRFR) based on crop type, form, application, and region. Based on crop type, the global glyphosate market is segmented into genetically modified crops and conventional crops. Based on form, the glyphosate market includes the segments of liquid form and dry form. Based on application, the global glyphosate market is oilseeds & pulses, fruits & vegetables, grains & cereals, and weed removal.

Key Players

The activities of many market giants majorly influence the global glyphosate market. Some of the prominent players in the glyphosate market including Nufarm Limited (Australia), UPL Limited (India), Syngenta AG (Switzerland), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), Monsanto Company (U.S.), E.I. Du Pont De Nemours & Company (U.S.), Bayer AG (Germany), The Dow chemical company (U.S.), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), and Adama Agricultural Solutions Ltd (Israel) are profiled in the latest MRFR glyphosate market report.

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Regional Analysis

The global glyphosate market has been studied for the geographical segments of Latin America, North America, Europe, Asia Pacific (APAC), and the Middle East & Africa. Asia Pacific is estimated to project rapid ascension and is showcased to garner the largest glyphosate market share during the forecast period. Asia Pacific is also likely to grow at the fastest rate for glyphosate by the end of 2023. Burgeoning population growth in the region is generating demand for higher agricultural production which has resulted in the cultivation of crops using advanced farming methods. Insecticides and pesticides are observed to be used extensively in the APAC. This is due to significant involvement of the same in cotton production, cereals, fruits, and vegetables which have a higher incidence of insect attacks, hence, generating higher demand for glyphosate in the region. Additionally, the growing scarcity of cultivable land in developing countries such as India and China has upscaled the demand for glyphosate in the region.

Europe’s glyphosate market is expected to grow at a steady rate during the forecast period. The European Union lifted the ban on glyphosate for five years, in November 2017, which is projected to contribute positively to the market growth for glyphosate. The country-specific market for glyphosate in Europe has many prime dominators including Germany, the UK, and Italy.

North America is anticipated to garner substantial growth during the forecast period owing to the region’s employment of different advanced farming methods to yield a massive volume of produce. The US, Mexico, and Canada are witnessed to be important country-specific glyphosate markets in the region during the forecast period. On the contrary, Latin America is anticipated to garner limited growth owing to a laggard adoption of latest agricultural technologies. Argentina, Brazil, and Uruguay are estimated to dominate the country-specific glyphosate market in the region.

Industry News

April 2019: The U.S. Environmental Protection Agency reaffirmed that glyphosate does not pose a cancer risk to its users.