Glyphosate Market – Segments, Forecast, and Analysis by Technavio

September 28, 2017

LONDON–(BUSINESS WIRE)–#Research–The global
glyphosate market is expected to grow at a CAGR of around 7%
during the forecast period, according to Technavio’s latest report.

In this report, Technavio
covers the market outlook and growth prospects of the global glyphosate
market for 2017-2021. The market is segmented based on application
(oilseeds and pulses, cereals and grains, fruits and vegetables) and
types (conventional crops and GM crops).

The advances in the field of agriculture are growing at a faster pace
with recent developments in R&D activities to create new glyphosate
products to achieve high yield. These are expected to replace the
existing conventional methods employed in agriculture more efficiently.
Owing to such research and new products, the global glyphosate market is
expected to grow. This can be attributed to the demand for glyphosate
from the GM crop growers. The production of new innovative and green
glyphosate will lessen its harmful environmental impact. This will
further drive the adoption of glyphosate and subsequently foster the
growth in global glyphosate market during the forecast period.

Technavio’s chemicals
and materials research analysts categorize the global glyphosate
market into the following segments by regions:

South Americas
APAC
North America
Europe
MEA

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South Americas: largest glyphosate market

South America will dominate the glyphosate market during the forecast
period. This can be attributed to the advances in the latest crop
protection technology and increased adoption of GM seeds and crops.
Also, the agricultural sector is dependent on GM crops that are
resistant to weedicides, which is also fostering the market growth.

“In South America, the significant demand for glyphosate will arise
in Brazil and Argentina mainly because of the availability of arable
land in these regions. In South America, soybean crops are regularly
sprayed with glyphosate as they are glyphosate resistant and it becomes
easier to eliminate weeds. Thus, the adoption glyphosate in this region
is high,” says Mohd Shakeel Iqbal, a lead analyst at Technavio for
research on specialty
chemicals.

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Glyphosate market in APAC

The glyphosate market in this region is growing at a faster rate owing
to the increase in the demand for food from the expanding population in
this region. Also, the demand for food has increased due to GDP growth
and increased disposable income of individuals. To meet the growing food
demand, GM crops and sustainable practices are adopted to achieve high
yield. GM crops are designed to add nutritional value and lower the cost
of production.

“In APAC, countries such as China, India, Bangladesh, Malaysia, and
South Korea are adopting GM crops. The growth in the glyphosate market
is directly proportional to the growth in the GM market. Also, China is
the leading producer of glyphosate in the world. The country alone has
contributed to more than 30% of the world’s total glyphosate production
in 2016,” adds Shakeel.

Glyphosate market in North America

North America is one of the most agriculturally advanced regions. In
this region, the adoption rate of GM crops and seeds to achieve high
yield is significant. The GM crops facilitate high yield in a limited
area of the land. Also, the nutritional value of yields is much higher
than the crops grown using conventional seeds. The implementation of
glyphosate is higher in regions where GM seeds and crops are grown. With
increasing adoption of the GM seeds, the growth in the adoption of
glyphosate is expected to grow during the forecast period.

However, the extensive use of glyphosate has influenced the spread of
tolerant and resistant weeds in the US. Also, herbicide-tolerant crops
negatively affect the market. However, with the increase in genetically
engineered seeds and crops will influence the global glyphosate
market during the forecast period.

The top vendors in the global glyphosate market highlighted in
the report are:

Bayer
BASF
The Dow Chemical Company
Monsanto Company
Syngenta

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