Glyphosate Market Worth 9.91 Billion USD by 2022
PUNE, India, February 17, 2017 /PRNewswire/ --
The report "Glyphosate Market by Crop Type (Genetically Modified, Conventional), Form (Liquid, Dry), Application (Agricultural (Grains & Cereals, Oilseeds & Pulses, Fruits & Vegetables), Non Agricultural), and Region - Global Forecast to 2022", published by Markets and Market, the market is projected to reach a value of USD 9.91 Billion by 2022, at a CAGR of 6.32% from 2016 to 2022.
Browse 73 market data Tables and 55 Figures spread through 141 Pages and in-depth TOC on "Glyphosate Market"
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The market is driven by factors such as commercialization of GM crops, increased application in agricultural and non-agricultural activities. The latter drives the need for modification in glyphosate products, to be used in the non-agricultural activities such as forests and woodlots, industrial oil seed crops and fiber crops, terrestrial feed crops, terrestrial food crops, and industrial and domestic vegetation control non-food sites.
The genetically modified crops segment is projected to be the fastest-growing market during the period 2016-2022
Adoption of this new GM-HT (genetically modified, herbicide tolerant) technology has increased the use of glyphosate, rapidly. GE crops require less amount of pesticides than the conventional crops, and the yield of crops are also being found to be increased. For maize, cotton, and soybean in the U.S., the adoption rate for biotech varieties is very high.
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The dry form segment is projected to be the fastest-growing market during the period 2016-2022
Glyphosate is available in liquid and dry forms. Glyphosate products in liquid form help in product effectiveness & efficiency, application to the crops, and equipment requirement for the user. It is largely used in liquid form as sprays and formulations owing to easy handling, storage, and transportation; usage of dry form of glyphosate is gradually increasing and making it a preferable alternative amongst the cultivators.
The grains & cereals segment, by agricultural application, accounted for the largest share in the Glyphosate Market in 2015
On the basis of application, the market is segmented into agricultural and non-agricultural segments. The grains & cereals subsegment under the agricultural applications accounted for the largest share in the Glyphosate Market in 2015. This is due to the high production of grains & cereals such as wheat, rice, and corn.
South America dominated the Glyphosate Market in 2015
The South American region was the largest market for glyphosate in 2015. This can be attributed to the increase in demand for various glyphosate products in countries such as Brazil and Argentina. Brazil is one of the largest producers of genetically modified-herbicide tolerant crops such as soybean, cotton, and sugarcane, this has led to the increased use of glyphosate in this region.
The Glyphosate Market report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as 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).
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