How Has The Glufosinate Market Size Evolved In Recent Years?
The glufosinate market has seen considerable growth due to a variety of factors.
•In recent times, the size of the glufosinate market has seen robust growth. There's a projection for it to increase from $2.53 billion in 2024 to $2.78 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%.
The growth observed in the historical period can be tied to factors such as the broad acceptance of GM crops, an increase in agricultural productivity, global advancement in agriculture, effective resistance management strategies and a conducive regulatory environment.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Glufosinate Market?
The glufosinate market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the glufosinate market is anticipated to experience robust growth in the upcoming years, expanding to "$4.07 billion by 2029 at a compound annual growth rate (CAGR) of 9.9%.
The projected growth in the forecast period can be credited to recurring issues with weed resistance, entrance into developing markets, an increase in the worldwide population, and alterations in crop cultivation methodologies. Key trends projected during this period include the use of genetically modified (GM) crops, the use of bioherbicides and organic farming methods, technological innovation in herbicides, improvements in formulation, and sustainable farming practices.
Which Key Drivers Are Propelling The Glufosinate Market's Growth?
The anticipated rise in the agriculture sector is predicted to propel the glufosinate market's expansion. The agricultural sector, also recognized as agribusiness, covers everything from cultivating land, crop raising, to animal rearing, for the production of food, raw commodities, and other farm products. Factors pushing the growth of the agriculture sector include a rising population leading to elevated food demand, government policies offering vital subsidies and incentives, and the emergence of climate-resilient farming practices which aid farmers in adapting to fluctuating environmental circumstances. Glufosinate effectively fights off a wide range of weeds, comprising the ones resistant to glyphosate, thereby facilitating healthy crop growth by minimizing competition for nutrients, sunlight, and water. To illustrate, data from the Department for Environment, Food, and Rural Affairs, a UK governmental department in February 2024, suggests that in 2022, the agricultural sector contributed a gross value added of £13.9 billion ($17.4 billion) to the UK economy, making up 0.6% of the GDP. This is a significant increase of £1.8 billion ($2.25 billion) in GVA compared to the previous year. Hence, the booming agricultural sector is spurring the surge of the glufosinate market.
What Are The Key Segments Within The Global Glufosinate Market?
The glufosinate market covered in this report is segmented –
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Formulation: Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, Other Formulations
3) By Application: Non-Agricultural, Agricultural, Oilseeds And Pulses, Grains And Cereals, Fruits And Vegetables, Other Applications
Subsegments:
1) By Genetically Modified Crops: Soybeans, Corn, Canola, Cotton, Other genetically modified crops
2) By Conventional Crops: Wheat, Rice, Barley, Sugar beet, Other conventional crops
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How Are New Trends Impacting The Size Of The Glufosinate Market?
Major firms involved in the glufosinate market are concentrating on the creation of innovative herbicides, specifically non-selective types, aimed at improving weed management and promoting sustainable farming. Unlike selective herbicides that target specific plant types, non-selective herbicides are engineered to tackle a broad spectrum of plant species. For example, BASF, a chemical corporation based in Germany, introduced a non-selective herbicide called the L-Glufosinate 10% SL to Chinese farmers in January 2022. BASF’s L-Glufosinate has an advantage in effectiveness as it transforms inactive D-glufosinate ammonium into an active state. This improved effectiveness permits farmers to achieve comparable weed management with current products while reducing necessary crop protection procedures by up to a half. Possessing solid patent protection, BASF is determined to bolster competitiveness and advocate for environmental responsibility in the dispersal and utilization of this new herbicide.
Who Are the Key Players in the Glufosinate Market?
Major companies operating in the glufosinate market include:
• Bayer AG
• YongNong BioSciences Co. Ltd.
• United Phosphorus Ltd.
• DuPont de Nemours Inc.
• Hebei Veyong Biochemical Co. Ltd.
• Jiangsu Huangma Agrochemicals Co. Ltd.
• Nufarm Ltd.
• Limin Chemical Co. Ltd.
• Lier Chemical Company Ltd.
• Shenzhen Sino-Harvest Industry Co. Ltd.
• BASF SE
• Jiangsu Seven Continents Green Chemical Co. Ltd.
• Inner Mongolia Jiaruimi Fine Chemical Co. Ltd.
• Simonis BV
• UPL Limited
• Dow Inc.
• Zhejiang Yongnong Chem. Ind. Co. Ltd.
• Shandong Weifang Rainbow Chemical Co. Ltd.
• Hubei Sanonda Co. Ltd.
• Jiangsu Changqing Agrochemical Co. Ltd.
• Jiangsu Yangnong Chemical Group Co. Ltd.
• Zhejiang Heben Pesticide & Chemicals Co. Ltd.
• Jiangsu Flag Chemical Industry Co. Ltd.
• Jiangsu Fengshan Group Co. Ltd.
• Jiangsu Good Harvest-Weien Agrochemical Co. Ltd.
• Jiangsu Huaihe Chemicals Co. Ltd.
• Jiangsu Redsun Group Co. Ltd.
• Jiangsu Sinorgchem Technology Co. Ltd.
• Shandong Luba Chemical Co. Ltd.
• Shandong Qiaochang Chemical Co. Ltd.
• Zhejiang Xinnong Chemical Co. Ltd.
What are the Regional Insights into the Glufosinate Market?
North America was the largest region in the gulfosinate market in 2024. The regions covered in the glufosinate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
