Glyphosate Market Trends & Forecast 2024
Glyphosate Market By Crop Type (GM Crops And Conventional Crops), By Application (Crop Based Which Includes Grains & Cereals, Oil Seeds And Fruits & Vegetables And Non-Crop Based Which Includes Turf & Ornamental Grass And Others), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2019-2024)
Glyphosate Market was worth USD 9.85 billion in 2019 and estimated to be growing at a CAGR of 6.4%, to reach USD 13.43 billion by 2024.
Glyphosate is a broad-spectrum herbicide brought into the market in 1974 by Monsanto under the trade name Roundup. The technical name for it is (N-phosphomethyl) glycine and it is an organophosphorus compound. It is used for killing weeds and grasses that compete with commercial crops.
Glyphosate works by inhibiting the production of amino acids in the target plants by affecting the EPSPS enzyme. EPSPS enzyme is produced exclusively by plants and microbes since the gene coding for it is not in the mammalian genome. This prevents adverse effects of the herbicide on human life. This type of herbicides is only effective against actively growing plants. Additionally, some crops have been genetically modified to be resistant against roundup so that its use does not unintentionally harm the growth of the cultivated crop.
The major driver of the global Glyphosate market is increasing the human population. As the human population increases the demand for land as well for food increases drastically. There is bound to be an inevitable collision between humans and wildlife as humans encroach upon more areas to live in. The increased demand for food means that the global production is just enough to cover the entire human population, so any loss of crop can collapse the entire demand and supply chain. So, there is a constant strain to increase the crop yield and efficiency by controlling the weed infestation. As for the restraints of the industry, the major one is the implementation of stringent government safety regulations to limit the levels of toxicity to reduce the impact of hazardous herbicides on public health and the environment. The constraints imposed on GM crops and the indifferent attitude of NGO’s towards the use of GM crops are also restraint to the market growth.
The Global Glyphosate market is broadly classified as GM Crops and Conventional Crops based on crop type. Based on Application they are classified as Crop based which includes Grains & Cereals, Oil Seeds and Fruits & Vegetables and Non-Crop based which includes Turf & Ornamental Grass and Others. Based on geography, the global market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. The Glyphosate market is dominated by Asia-Pacific in 2016 with the region accounting for 38% of the overall market share. North America was next in line followed by Europe. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another region where the market is expected to thrive is Latin America. In spite of the small current market share, countries such as Brazil and Argentina are one of the largest producers of genetically-modified herbicide-tolerant crops and as such is a region where the industry is expected to boom.
Key Players :
The key players that are present in the glyphosate industry include Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow Chemical Company (U.S.), Nufarm Limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 Crop Type
5.1.1 Introduction
5.1.2 GM Crops
5.1.3 Conventional Crops
5.1.4 Y-o-Y Growth Analysis, By Crop Type
5.1.5 Market Attractiveness Analysis, By Crop Type
5.1.6 Market Share Analysis, By Crop Type
5.2 Application
5.2.1 Introduction
5.2.2 Crop Based
5.2.3 Non-Crop Based
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Crop Type
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Crop Type
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Crop Type
6.1.5.3 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five Analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Monsanto
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Syngenta AG
8.3 Bayer AG
8.4 Du Pont De Nemours & Company
8.5 The Dow Chemical Company
8.6 Nufarm Limited
8.7 Nantong Jiangshan Agrochemical
8.8 Adama Agricultural Solutions
8.9 UPL Limited
8.10 Zhejiang Xinan Chemical Industrial Group
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
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