Glyphosate Market Worth 10,675.9 Million USD By 2022
The Global Glyphosate Market will
grow at a CAGR of 6.0% from 2017 to 2022 to reach USD 10,675.9 million by 2022,
according to the latest publication from Meticulous Research®.The
global glyphosate market is primarily driven by growing need to increase crop
yield and quality, reduction of arable land, emergence of advanced agricultural
practices and technologies, and increasing crop yield losses due to weeds.
However, environmental and human hazards with the use of glyphosate herbicides,
growing organic farming and demand for organic food, and the stringent
government laws and regulations hampers the growth of the market to some
extent.
The global glyphosate
market is mainly segmented by formulation (liquid form and solid form), by
application (spraying, dusting, soil treatment, and others), by crop type
(cereals & grains, oilseeds & pulses, fruits & vegetables, turf
& ornamentals, and others), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
The cereals & grains
commanded the largest share in the global glyphosate market in 2016, owing to
the large production of cereal & grains across the globe and increasing
adoption by farmers to control the yield losses due to weeds.
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Geographically, Latin
America accounted for the major share in the global glyphosate market in 2016,
followed by Asia Pacific and Europe region. The major share of the Latin
American region is mainly attributed to the large arable land, increasing
demand for crop yield & efficiency, adoption of new farming practices, and
increasing crop yield losses due to weeds. However, Asian countries are slated
to register the fastest growth during the forecast period, primarily due to
large area under agriculture cultivation, and rising need to ensure the food
safety for its continuously growing population.
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The leading companies
have employed various strategies to expand their product and application
offerings, global footprint, and augment their market shares. The key players
in the global glyphosate market are Bayer CropScience AG, BASF SE, Syngenta
(Subsidiary of ChemChina), FMC corporation, Monsanto Company (Part of Bayer),
E.I. du Pont de Nemours & Company, Nufarm Limited, Drexel Chemical Company,
ArystaLifeScience Corporation (Platform Specialty Products), ADAMA Agricultural
Solutions Ltd (Part of ChemChina), UPL Limited, and Heranba Industries Ltd.
About Meticulous Research®
MeticulousResearch® is founded in 2010 and incorporated
as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company
under the Companies Act, 1956. Since its incorporation, the company has become
the leading provider of premium market intelligence in North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa.
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Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Tel: +1-646-781-8004
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