Global Glyphosate Market: Introduction
Glyphosate is a herbicide which is used to kill weeds in agricultural as well as in nonagricultural landscapes. Most of products that are manufactured by using glyphosate are used with surfactants and chemicals that helps glyphosate to penetrate the plant cells. It is applied on the leaves of plants for reduction of both broadleaf plants as well as grasses. Moreover, the sodium salt form of glyphosate is used for regulating plants growth and ripen fruit. Glyphosate are available in market in many forms, including an acids and several salts. These can be either be in amber-colored liquid form or in solid form. The products containing glyphosate are acutely toxic to humans as well as animals. Its symptoms includes skin and eye irritation, nausea, headache, elevated blood pressure, numbness, and heart palpitations. Additionally, the growing awareness among farmers related to plant growth development along with agricultural upliftment will boost the glyphosate market growth in the forecast period. Moreover, plant growth regulation coupled with weed growth control are some of the prominent features improving the product demand.
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Global Glyphosate Market: Dynamics
Rising production of genetically modified crops along with the increasing food consumption and increasing demand from cattle feed is expected to drive the glyphosate market in the near future. Technological advancements in glyphosate-tolerant genetically modified crops have improved its resistance to weed. Glyphosate reduces farmer’s efforts for spadework. Technological developments that enable no tillage and less tillage farming systems will fuel product demand.
Necessity to upsurge yield per hectare along with rise in global food demand are some of the factors fueling the glyphosate demand. Genetically modified crops will witness a significant growth owing to rising awareness among consumers.
Global Glyphosate Market: Market Participants
Asia Pacific is anticipated to hold significant market share in the global market and it is expected to continue through the forecast period. This is mainly because of increasing adoption of generally modified crops and also due to availability of arable land in China and India. Additionally with the growing demand, many Chinese companies are also entering in the glyphosate market, leading to increase in production activities in this region. Glyphosate-tolerant crops are readily adopted in the U.S. and Latin America, mainly after the launch of Monsanto’s Roundup Ready. Owing to which Latin America is estimated to account for the largest market share for glyphosate market in the near future, mainly due to the increasing demand for glyphosate in countries such as Argentina and Brazil. However, Asia-Pacific is projected to be the fastest-growing market during the forecast period, due to the high adoption of the upgraded crop protection technologies. Due to awareness related to the efficient use of glyphosate, Indian farmers are also adopting glyphosate as a crop protection tool.
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Global Glyphosate Market: Market Participants
Names of some of the manufacturers involved in the manufacturing of glyphosate are:
- The DOW Chemical Company
- Bayer AG
- Monsanto Company
- I. Du Pont De Nemours and Company
- Syngenta AG
- Nufarm Limited
- Nantong Jiangshan Agrochemical & Chemical, Inc.
- Zhejiang Xinan Chemical Industrial Group Co.,Ltd
- ADAMA Agricultural Solutions Ltd.
- United Phosphorus Limited (UPL)
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