Glyphosate Remains the Most Important Herbicide in Global Agriculture Supported by Robust Adoption of Genetically Modified Herbicide Tolerant Crops

Growing adoption of genetically modified herbicide tolerant crops among small and large scale farmers and the resulting increased use of the herbicide in a wide range of crops hitherto sensitive to glyphosate is poised to drive the global market for Glyphosate to exceed 1.2 million metric tons by 2022.

Glyphosate represents one of the widely used herbicidal active ingredients globally. A non-selective, translocated, foliar-acting herbicide, glyphosate exterminates any plant that it comes into contact with, by entering into the plant’s internal system and by blocking certain enzymes needed for protein and amino acid synthesis. Glyphosate originally came to fore in 1970s following the commercial launch of Roundup by Monsanto in 1974, and made rapid progress subsequent to the expiry of Monsanto’s license for the herbicide in 2000. The foray of a slew of Chinese manufacturers in early- to mid-2000s catapulted the production and supply of the glyphosate-based herbicides in the global market in the previous decade.

Currently, glyphosate market growth is being driven by several factors favoring the wider uptake of the herbicide such as ever persistent need for controlling weeds in agricultural lands, rising focus on enhancing agricultural output amid growing demand for food products, and high uptake of genetically modified (GM), herbicide tolerant (HT) crops such as Canola, Cotton, Maize and Soybean in several parts of the world. Proven benefits of glyphosate use such as broad-spectrum, full-fledged control of weeds in a cost effective manner, higher crop yield and high quality produce are consistently creating additional scope for glyphosate. Further, market is also benefiting from soaring use in non-agricultural applications such as gardens, lawns, parks, railway facilities, industrial units, and playgrounds etc.

On the negative side, glyphosate market continues to witness evolving strength of certain growth impeding issues. Continued debate over possible role of the herbicide in causing cancer, and kidney and liver diseases; rising prevalence of glyphosate resistant weeds; and emergence of high-performance selective herbicides and alternative herbicides are curtailing the market momentum. Despite EU renewing the herbicide’s marketing license for another five years in November 2017, the list of countries seeking ban on glyphosate sales is growing in Europe and worldwide, thus putting a big question mark on the future of this broad-spectrum herbicide.

As stated by the new market research report on Glyphosate, Asia-Pacific represents the largest market worldwide, followed by the United States. Asia-Pacific, spearheaded by China, also represents the fastest growing market registering a CAGR of 6.6% over the analysis period. Key factors responsible for the unprecedented rise of China as the global glyphosate powerhouse include high promotion of China-made glyphosate in foreign markets, new pesticide administrative policies brought forward by the Chinese government and new collaborative deals by Chinese manufacturers with global glyphosate majors.

Key players in the market include  Anhui Huaxing Chemical Industry, BASF SE, Bayer AG, China National Chemical Corporation (ChemChina), ADAMA Agricultural Solutions, Syngenta AG, DowDuPont, FMC Corporation, Fuhua Tongda Agro-chemical Technology, Jiangsu Good Harvest-Weien Agrochemical, JingMa Group, Nufarm Limited, Shandong Weifang Rainbow Chemical, Sinochem Group, Nantong Jiangshan Agrochemical & Chemical, Jiangsu Yangnong Chemical Group, UPL Limited, Wynca Group, and Zhejiang Jinfanda Biochemical, among others.

The research report titled “Glyphosate - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, and strategic activities of global companies. The report provides market estimates and projections in volume (Metric Tons) for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America, and Rest of World.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

For cutting edge analyst reviews on top industries
Follow us on Twitter; Connect with us on LinkedIn; Follow us on Medium

Comments

Post a Comment

Popular posts from this blog

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more
Image
The global market for Material Handling Equipment is projected to reach US$190.3 billion by 2025, driven by the strong emphasis shed on production and operational efficiency and worker safety. The concept of “last mile” is widely popularized in supply chain management and transportation planning for its ability to increase customer satisfaction and profitability. Automation, optimization and delivery route planning are therefore vital strategies adopted by companies to improve their last mile performance. Of equal importance are the “first mile” operations involving indoor material handling on the plant floor. Raw material being the primary and most importance element in manufacturing needs to move through multiple stages of production and final packaging in a smooth and seamless manner to prevent logistical bottlenecks in production. Timely handling of materials is important to ensure that right materials in right quantities are delivered to the right locations at the right ti
Read more