Glyphosate Market Set to Reach USD 16 Billion by 2030 with Steady Growth Driven by Agriculture and GMO Demand

Glyphosate Market Set to Reach USD 16 Billion by 2030 with Steady Growth Driven by Agriculture and GMO Demand

According to Next Move Strategy Consulting, the global Glyphosate Market, is projected to grow at a compound annual growth rate (CAGR) of 1%, reaching USD 16 billion by 2030. Glyphosate, a non-selective herbicide widely used in agriculture, is expected to see sustained demand driven by modern farming practices, rising food production needs, and the increasing popularity of genetically modified organisms (GMOs) in crop production.

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Market Insights

Glyphosate, chemically known as N-(phosphonomethyl) glycine, is a broad-spectrum herbicide used to control weeds, improve crop yields, and safeguard against diseases. Its widespread use in both crop desiccation and weed management has become crucial to modern agriculture. The increasing global demand for food grains, enhanced agricultural practices such as organic and sustainable farming, and the expansion of GMO crops are key drivers of glyphosate adoption.

Moreover, the rising demand for glyphosate to maintain genetically modified grasses in areas such as lawns, sports fields, and turf environments is further contributing to market growth. As the commercialization of genetically engineered herbicide-tolerant crops expands, glyphosate's role in agricultural and non-agricultural applications is gaining importance, particularly for residential gardening and landscaping.

Challenges and Opportunities

While the market outlook remains strong, challenges such as public health concerns regarding the potential side effects of glyphosate, including cancer and asthma, along with low awareness about its production, may hinder its growth. However, continued advancements in agricultural technologies such as tissue culture and the development of genetically engineered crops are expected to offer ample growth opportunities for the glyphosate market.

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Market Segmentation

The glyphosate market is segmented by process, crop type, form, type, application, and geography. Key market segments include:

  • Process: IDA process, Glycine process
  • Crop Type: Genetically Modified, Conventional, Cereal and Grains, Oilseeds and Pulses, Fruits and Vegetables, Turf and Ornamentals, and others
  • Form: Liquid and Dry
  • Type: Soluble Liquid (SL), Soluble Powders (SP), and Soluble Granules (SG)
  • Application: Spraying, Dusting, Soil Treatment, and others

Geographical Outlook

North America currently dominates the glyphosate market, with significant growth expected to continue through 2030. This is largely due to the increasing adoption of soil treatment practices, high demand for liquid herbicides, and the presence of key herbicide manufacturers. For example, Corteva Agriscience's launch of Milestone herbicide in the U.S. in 2021 is driving the demand for effective weed control solutions.

Asia-Pacific is also anticipated to see steady growth in glyphosate use, driven by the region's growing population and agricultural needs. The increased occurrence of crop disasters such as locusts and plagues has led to an increased reliance on herbicides to protect crops, further boosting market demand.

Competitive Landscape

Leading players in the glyphosate market include Bayer AG, BASF SE, Syngenta, Wynca USA, Zhejiang Jinfanda Biochemical, NUFARM Limited, UPL Limited, Adama Agricultural Solutions, and Aristo Bio-tech and Lifescience Ltd. These companies are focusing on new product launches and regional expansions to maintain market dominance. Notable recent innovations include Syngenta’s launch of the Kesuda glyphosate product in 2021 and Bayer’s introduction of the Vynyty Citrus biological crop protection product in 2021.

Key Benefits of This Report

  • Provides a quantitative analysis of the current glyphosate market and future trends from 2021 to 2030.
  • Offers a detailed overview of key drivers, restraints, and opportunities influencing market growth.
  • Features competitive analysis and strategic insights into the market players.
  • Includes SWOT analysis and Porter's Five Forces model to assess competitive dynamics.
  • Provides a comprehensive breakdown of the market by segment and geography, enabling stakeholders to capitalize on key investment opportunities.

Conclusion

The global glyphosate market is poised for substantial growth, driven by increased agricultural practices, the demand for genetically modified crops, and rising awareness of herbicide benefits in crop protection. While challenges persist, the market’s outlook remains positive, with considerable opportunities arising from ongoing innovations and advancements in herbicide formulations.

 

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