Glyphosate Market in conventional crops dominate the industry and accounted for more than 55% of the market demand owing to the absence of more technologically advanced farming techniques. The country is majorly led by conventional farming techniques. High GMO seeds prices is another reason to support conventional farming growth.
Glyphosate industry was more than 850 kilo tons in 2015 and is slated to grow at a CAGR of 5.3% by 2024. Most players operating in this market have been striving to improve the quality of the product to enhance plant growth without negatively affecting the plant. Key participants operating in this industry include Monsanto Company, DuPont, BASF, Nantong Jiangshan Agrochemical & Chemicals, Syngenta, Nufarm Limited, Dow AgroSciences LLC, Bayer CropScience, and SinoHarvest Corporation. This market is characterized by frequent mergers and acquisitions to improve productivity and enhance business growth.
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The world has been finding alternative ways to cope up with the ever-rising demand for food. Subject to this factor, Glyphosate Market is forecast to witness the rise of potential growth avenues over the next seven years. The necessity to increase the crop yield and quality coupled with the awareness among the farmers regarding the enhancement of plant growth is likely to fuel glyphosate market share. Glyphosate, containing isopropyl amine, is essentially a crop desiccant and an organophosphate herbicide that is used by farmers and landowners to produce genetically modified crops such as sorghum, maize, tea plantations, soybean, wheat, sunflower, and cotton. It is also used to control the growth of numerous crops in forests, gardens, public spaces, fields, and farmlands, thereby fueling glyphosate market
Glyphosate finds applications in conventional crops and genetically modified (GM) crops. Conventional crops held more than 55% of glyphosate market in 2015, primarily due to the absence of advanced farming techniques. Glyphosate market size from conventional crops is anticipated to grow significantly over the years ahead, subject to the chemical’s usage in the production of wheat, sorghum, and rice. It is sprayed on the field a week before sowing the seeds.
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Europe held more than 15% of global glyphosate industry in 2015 and will grow moderately over the next few years, subject to strict government regulations regarding the applications of agrochemicals. Due to technological innovations and increased cultivable land, Russia glyphosate market will grow at a rate of 2.5% over 2016-2024.
The Asia Pacific belt has a vast amount of cultivable land and natural resources owing to which APAC held more than 35% of the global glyphosate industry share in 2015. China is solely responsible for more than 25% of the global soy consumption. India and China accounted for more than 25% of worldwide cereal consumption in 2015. Thus, with China and India as prime revenue contributors, Asia Pacific glyphosate market will generate remarkable revenue by 2024.
Browse key industry insights spread across 150 pages with 93 market data tables & 10 figures & charts from the report, “Glyphosate Market Forecast, 2016 – 2024” in detail along with the table of contents:
Global glyphosate market share is quite consolidated, with four of the key players holding more than 50% of the overall share. Monsanto Company, for the longest time, has been the leading glyphosate market player owing to the fact that the company adopted glyphosate tolerant crops rather early. In addition, the launch of the renowned Roundup herbicide has also catapulted the company to the dominant position. Other companies have also been following suit, thereby propelling global industry share.
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- Humic Acid Market Forecast, 2017 – 2024
Humic Acid Market size was recorded at over USD 400 million in 2016 and will witness growth at a CAGR above 12%. Rapidly growing global population and their nutritional demand decreased the arable land ratio to less than 0.2 hectares for a single person by 2013. As per a WHO report, world agricultural yield must be increased by at least 50% per hectare to meet the growing demand for food.
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