Glyphosate Market Trends and Growth, 2024

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Glyphosate Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2024 | Hexa Research
The global glyphosate market was valued at around USD 5 billion in 2012. It is likely to
reach USD 9 billion over the forecast period (2016-2024). Increasing population and the
rise in demand for genetically modified (GM) crops are expected to driver of the
glyphosate market.
Increase in crop consumption for biofuels and animal feed can propel market growth in the
coming years. Moreover, development in the field of genetically modified crops promoting
weed resistance is likely to boost market growth. This product helps farmers in reducing
the degree of tillage, further positively affect the market.
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Glyphosate is used extensively in gardens and home landscaping. It effectively kills annual
and perennial grasses along with dandelions, broadleaf weeds, shrubs, poison ivy, kudzu,
and other weeds.
Using this product in a large quantity can lead to an increase in immunity in the weeds.
Additionally, it can increase the toxicity related risks can also challenge the growth of the
glyphosate industry. The market is bifurcated into applications and regions.
Applications comprise of conventional crops and genetically modified. The conventional
crops segment dominated the demand accounting to over 52% of the total consumption in
2014. However, the genetically modified crop based application can exhibit the highest
gain over the forecast period.
Regions are divided into North America, Europe, Asia Pacific, and the RoW (Rest of the
World). Asia Pacific held the largest market in 2013. It is expected to continue doing so,
over the forecast period, owing to the rapid adoption of the product in countries like I ndia
and China.
North America can exhibit substantial growth over the eight years. The growth can be
attributed to the awareness of the increase in agricultural yield. However, European
glyphosate industry held around 15% of market share in terms of total volume, in 2014.
However, it is likely to show less demand due to the unfavorable regulations of the region.
Zhejiang Xinan Chemical Industrial Group Company Limited, Monsanto, BASF SE, and
SinoHarvest Corporation are some of the major competitors of the global glyphosate
market. Monsanto is leading the worldwide market, owing to the role in the introduction
and adoption of crops that are glyphosate-tolerant. The players engage in mergers and
acquisitions as a part of their strategic activities.
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The global glyphosate market is expected to be valued at USD 9 billion over the forecast period of 2016-2024. Surging demand for (GM) genetically modified crops is expected to remain a key driver for the market.

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