Glyphosate Market Outlook
The glyphosate market is anticipated to witness substantial growth, reaching an estimated size of USD 17.5 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period from 2022 to 2030. Glyphosate, widely utilized in various applications such as cereals & grains, weed removal, oilseed & pulses, and fruits & vegetables, among others, plays a crucial role in the global agricultural sector. The market spans across five regions: Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
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The Asia Pacific market is poised for rapid growth, driven by an increasing demand for agricultural produce and the rising use of glyphosate for weed removal. The evolving farming practices in the region are expected to positively influence market growth. South America, particularly driven by Brazil and Argentina, is anticipated to be one of the largest markets for glyphosate. The substantial production of genetically modified crops in this region is a key factor propelling market growth, with genetically modified soybeans expected to be the largest crop type during the review period. Europe, displaying steady growth, benefits from the expanding application of glyphosate for weed removal and the approval of its use by the European Union.
The global glyphosate market share is segmented based on crop type, form, application, and region. Crop type segmentation includes genetically modified crops and conventional crops. The form of glyphosate is divided into liquid and dry forms. Furthermore, the application segment encompasses grains & cereals, oilseeds & pulses, fruits & vegetables, weed removal, and others. Geographically, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Key players in the global glyphosate market include Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow Chemical Company (U.S.), Nufarm Limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd (China). These prominent companies are crucial drivers of innovation and development in the glyphosate market, contributing to the sustainable growth of the industry.
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