What Has Been The Historical And Current Growth Of The Glyphosate Market?
The glyphosate market has seen considerable growth due to a variety of factors.
• The glyphosate market has significantly expanded in recent years. The market is projected to increase from a value of $10.92 billion in 2024 to a higher value of $11.89 billion in 2025, representing a compound annual growth rate (CAGR) of 8.9%.
The notable growth in the past was due to factors such as the introduction of genetically modified (GM) crops, enhanced agricultural productivity, the adoption of no-till farming techniques, global agricultural expansion, cost-effectiveness, and versatility.
What Is the Forecasted Market Size and Growth Rate for The Glyphosate Market?
The glyphosate market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the glyphosate market is anticipated to experience substantial expansion in the coming years, projected to reach $17.11 billion by 2029, with a compound annual growth rate (CAGR) of 9.5%.
The anticipated growth within this period can be credited to the introduction of novel weed management practices, rigorous regulatory mandates, environmental apprehensions, wider acceptance of precision farming, transition to sustainable farming, public consciousness, and consumer inclinations. Predominant trends projected for this period include advancement in herbicide technology, transition to eco-friendly farming, strategies for handling resistance, expanded use of genetically modified (GM) crops and regulatory inspections and prohibitions.
What Are The Leading Drivers Of Growth In The Glyphosate Market?
Growth in the glyphosate market is set to be driven by a rising demand for fertilizers. This can be attributed to an increase in world population leading to higher necessities for food, water, and other agricultural products. Modern farming techniques have been adopted by farmers in order to enhance crop growth and optimize profits, which often involve utilizing a substantial amount of fertilizers. The International Fertilizer Association, located in Paris, projected that by 2023, there would be a 4% resurgence in global fertilizer consumption, amounting to 192.5 million metric tons (mmt). Consequently, escalating requests for fertilizers are likely to stimulate the market for glyphosate.
What Key Areas Define The Segmentation Of The Global Glyphosate Market?
The glyphosate market covered in this report is segmented –
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Form: Liquid, Dry
3) By Application: Grains And Cereals, Pulses And Oilseeds, Fruits And Vegetables, Commercial Crops, Other Applications
Subsegments:
1) By Genetically Modified Crops: Herbicide-Tolerant Soybeans, Herbicide-Tolerant Corn, Herbicide-Tolerant Cotton
2) By Conventional Crops: Wheat, Barley, Fruits and Vegetables
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How Are Emerging Trends Reshaping The Dynamics Of The Glyphosate Market?
Leading firms in the glyphosate market are employing a strategic partnership model to invest in innovative solutions and broaden the range of choices for farmers. This strategy involves companies capitalizing on each other's strengths and resources to obtain mutual advantages and achieve success. For example, in August 2022, US-based global agriculture firm Corteva Agriscience, known for its agricultural solutions, formed a partnership with German multinational chemical company BASF SE which provides chemicals and crop protection products. Their joint venture is focused on designing future herbicide-resistant soybeans and creating corresponding herbicides for North American farmers and those in other regions. The joint initiative includes traits that give tolerance to BASF's Liberty and PPO inhibiting herbicides, as well as Corteva's Enlist herbicides, glyphosate, and an innovative herbicide action mechanism currently being developed at BASF.
Who Are the Key Players in the Glyphosate Market?
Major companies operating in the glyphosate market include:
• Sinochem Corporation Limited
• BASF SE
• Dow AgroSciences LLC
• Syngenta Group AG
• Bayer CropScience AG
• Corteva Agriscience LLC
• UPL Limited
• Food Machinery and Chemical Corporation
• Adama Agricultural Solutions Ltd.
• Luxi Chemical Group Co. Ltd.
• Nufarm Limited
• Zhejiang XinAn Chemical Industrial Group Co. Ltd.
• Wynca Group Limited
• King Quenson Industry Co. Ltd.
• Hubei Sanjiang Fine Chemical Co. Ltd.
• Nantong Jiangshan Agrochemical & Chemicals Co. Ltd.
• Anhui Huaxing Chemical Industry Co. Ltd.
• Fuhua Group Co. Ltd.
• American Vanguard Corporation
• Jiangsu Good Harvest-Weien Agrochemical Co. Ltd.
• Excel Crop Care Limited
• Willowood Industries Limited
• Jiangsu Xinyu Agrochemical Co. Ltd.
• Anhui Zhongnong Chemical Co. Ltd.
• Sinoharvest Corporation
• Shandong Lvye Chemical Co. Ltd.
• Shandong Lianfeng Pesticide Co. Ltd.
• Henan Yuxing Agrochemical Co. Ltd.
• Jiangsu Huaxing Chemical Co. Ltd.
• Shandong Shuangfeng Chemical Co. Ltd.
What Is The Most Dominant Region In The Glyphosate Market?
Asia-Pacific was the largest region in the glyphosate market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the glyphosate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
