The North America Glyphosate Market was worth USD 2.56 billion in 2021 and estimated to be growing at a CAGR of 5.51%, to reach USD 3.35 billion by 2026. Since the beginning of agriculture, farmers have been battling a common enemy, weeds. Weeds steal water, sunlight and nutrients from the cultivated crops and lead to reduction in the output of the land. Glyphosate has been a breakthrough in this respect, discovered in 1970 and made commercially available in 1974, it has taken the industry by storm, being the preferred herbicide all over.
Glyphosate is broad-spectrum and non-selective meaning it will affect most plants unless they have been engineered to be resistant. It is an organophosphorus compound and is biodegradable. It is supposedly non-toxic to humans, although excessive exposure can cause discomforts. The herbicide works on the basis of enzyme inhibitions that is not likely to have a major impact on mammals. It is also highly adsorbed on most soils and is expected to have minimal impact on ground water resources.
North America Glyphosate Market Drivers:
The major driver of the North America Glyphosate market is driven by population growth which in turn leads to a call for increased efficiency of production from farms. Cultivation of GM crops in the region also provides future potential for the market in the region. The growing demands for food security along with the increased demand for glyphosate in non-agricultural industries is expected to further boost the market. Glyphosate also finds applications in the ‘concrete jungle’, where it is applied on pavements and sidewalks to kill off the weeds that may break through and cause damage. Inspite of the various factors for the growth of the market, the industry still gets hampered by facts such as the strict regulations put in place to minimize the ecological effect. Regulations are also put in place regarding the use of GM crops, which people are still unsure about, as they are the prime demand market of glyphosate.
North America Glyphosate Market – By Crop Type:
North America Glyphosate Market – By Application:
North America Glyphosate Market – By Non Crop:
Based on geography, the North America market is analysed under USA and Canada. The North American market has the second highest market share worldwide, albeit with the lowest growth rate. The low growth rate can be attributed to the fact that the region is almost fully developed and the scope for expansion is minimal.
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).
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