Glyphosate Market

Glyphosate Market Outlook (2024 to 2034)

The global glyphosate market size is anticipated to be worth US$ 6,123.4 million in 2024. According to projections, the economy is likely to evolve at a CAGR of 4.8% until 2034. The market is expected to expand to an astounding size of US$ 9,784.2 million by 2034. Glyphosate market growth is primarily driven by its increasing global applications in agriculture and non-agricultural sectors.

Glyphosate is a pesticide with selective or numerous effects on fungus and spore diseases. Because of their extraordinary sensitivity to fungal infections, global fruit and vegetable farming has bolstered the glyphosate industry.

Key Market Growth Drivers

• Glyphosate is used in agriculture to reduce weeds in crops such as grains, legumes, cereals, fruits, tubers, and vegetables by spraying it directly onto leaves, which are absorbed as nutrients by the plants.
• The use of glyphosate to kill weeds such as chickweed, barnyard grass, dandelion, and others and growth in mechanical weed control replacement in various crops are driving market expansion.
• The market is being influenced by the rising acceptance of herbicide-tolerance technology for crops grown inorganically and product benefits over mechanical tillage methods, such as reduced cost, less soil, and less environmental harm.
• Rising crop quality demands further benefit the glyphosate market, the agricultural industry's growth, and the growing demand for organic food.

The glyphosate market is expected to grow due to its increasing use in soil improvement, protection against soil erosion, water quality, and fertility, and its advantages over mechanical tillage technology, including reduced soil and environmental damage and low cost. This growth is expected to strengthen the glyphosate industry.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 6,123.4 million
Forecasted Market Value (2034F)	US$ 9,784.2 million
Global Market Growth Rate (2024 to 2034)	4.8%CAGR
Liquid Segment Growth Rate (2024 to 2034)	5.2%
Cereals & Grains Segment Growth Rate (2024 to 2034)	4.4%
North America Market Share (2024)	21.2%
East Asia Market Share (2024)	24.5%
Key Companies Profiled	Kalyani Industries Ltd Crop Chemicals India Ltd. ECOGAURD Bharat Group Crystal Crop Protection Limited Aristo Biotech HPM Chemicals & Fertilizers Ltd Wynca Group ADAMA Ltd Albaugh LLC GOOD HARVEST ENVIRO BioChem Drexel Chemical DowDuPont Nufarm BASF.SE UPL Ltd HELM AG Bayer Rolfes Agri

Which Factors Have Driven the Global Surge in Glyphosate Industry?

“Broad-Spectrum Herbicides Spreads the Herbicide Industry”

Glyphosate is a beneficial organic fertilizer that is gaining popularity in the agriculture business. Recently, glyphosate herbicides have become a popular substitute for non-selective herbicides farmers use to manage weeds and broadleaf grass in many developing nations.

Enhancing crop tolerance is one of the main factors contributing to the rising popularity of glyphosate herbicides. This is accomplished by encouraging crop development and boosting their ability to withstand outside stresses like pests and illnesses. Because of this, market participants may expect to benefit greatly from the demand for glyphosate herbicides, which is predicted to expand significantly during the projected period.

Global demand and supply for glyphosate are growing as more people become aware of its many advantages. Market participants are producing more glyphosate due to the growing demand from agricultural and non-agricultural sectors.

“Genetically Modified Plants Cultivates the Global Glyphosate Sector”

An increasing proportion of farmers and consumers are embracing genetically modified crops, such as corn, cotton, and wheat. Glyphosate has recently been an increasingly popular pesticide in agriculture due to its efficiency in reducing weeds in genetically engineered crops. The growing acceptability of genetically modified crops and the need to protect their health and output is anticipated to cause a dramatic increase in the demand for glyphosate shortly. Glyphosate is a common herbicide that controls alien species in many emerging economies.

Glyphosate can benefit rangelands, forests, and aquatic systems, but strict laws prohibiting genetically modified crops, particularly in Europe, impact the global market. Industry leaders are developing integrated weed control systems using a blend of herbicides to avoid reliance on glyphosate.

In order to generate more revenue streams, several market participants concentrate on growing high-value crops and use glyphosate as a pesticide.

Which Factors Present Challenges to the Glyphosate Market Growth?

“Concerns over Crop Herbicide Solutions Hinders the Global Glyphosate Industry Development”

Glyphosate, a common herbicide, has been connected to severe health concerns in people, including congenital disabilities, liver illness, and reproductive disorders in animals. This has led to suspicion regarding genetically altered crops that rely on glyphosate, potentially impeding the expansion of the genetically modified agricultural industry.

Regional restrictions, glyphosate-resistant weeds, and hazardous impacts on humans and the environment hamper the genetically modified crop market. These variables also influence the growth of the glyphosate market, offering substantial dangers to the industry's future.

Many people are concerned about glyphosate in genetically modified crops, and the market for these products is projected to encounter hurdles in the future.

Country-wise Insights

The North American glyphosate market is predicted to record a growth of 5.8% by 2034. The increased demand for broad-spectrum herbicides in significant countries such as the United States and Canada is the primary driver of the growth. Crop herbicide solutions are expected to have a 75.2% market share in the United States by 2024. Meanwhile, the East Asian non-selective herbicides market is forecast to develop rapidly, with a 5.5% CAGR by 2034. With a massive 70.3% market share in 2024, China has become the leading power in the East Asian crop protection chemicals industry.

Why is the United States Dominating the Global Glyphosate Market?

“Agricultural Chemical Solutions Drives the United States Herbicide Industry”

Glyphosate sales in the United States are predicted to reach a staggering US$ 976.3 million by 2024, according to a recent market study. In addition, a consistent growth rate of 5.5% is anticipated for the market over the projection period. One of the primary reasons driving the growth of this market is the increase in demand for glyphosate as a highly efficient weed control technique in the American agriculture business.

The expanding population and increased demand for food, energy, water, and agricultural commodities are driving the price of glyphosate, a critical herbicide, in the United States' agricultural sector. This has prompted farmers to use cutting-edge tactics to raise crop yields and profits.

Glyphosate is a widely used herbicide used by farmers in the United States to protect crops from weeds and unwanted grass. Its efficacy and improved yields have made it famous, and the increasing demand for agricultural products has made it even more crucial for farmers.

Farmers in the United States increasingly utilize Glyphosate to boost productivity. This trend has led to a surge in the market, making it a crucial part of modern agricultural practices.

Which Factors Position China as a Thriving Herbicide Industry?

“Glyphosate-Based Formulations and Non-toxic Weed Control Drives Chinese Herbicide Industry”

According to recent market research, East Asia's market is expected to witness steady growth of 5.5% until 2034. As of 2024, the market value is estimated to be around US$ 1,500 million, with a revenue share of 24.5%. Furthermore, the China glyphosate industry is projected to dominate the market with a revenue share of 70.3% and a total value of US$ 1,055 million in 2024. This industry is also predicted to grow at a rate of 5.4% until 2034, indicating significant potential for investors and businesses in the region.

Glyphosate is a chemical compound that selectively targets specific illnesses or combat multiple fungal diseases. Its usage has significantly increased in China due to the growing cultivation of fruits and vegetables, which are highly susceptible to fungal infections.

The incidence of fungal assaults on crops has increased with China's increasing adoption of sophisticated farming practices. Consequently, glyphosate has been much more in demand because of its inexpensive cost compared to other crop protection techniques.

Further opening up new potential prospects for Chinese fungicide producers are the growing popularity of organic horticulture and precision farming. Because of these changes, the need for fungicides that are suitable for human consumption and have no impact on the environment is increasing, as is the desire for natural and organic items. With these trends continuing, glyphosate is projected to remain a popular crop protection option in China.

Category-wise Insights

According to market predictions, the usage of liquid glyphosate as an herbicide is anticipated to occupy a 37.10% share of the market by 2024. At the same time, glyphosate granules are projected to capture a significant 62.90% market share, thereby diversifying and stabilizing the resources in the industry.

Furthermore, based on its end-use, the cereals and grains sector is expected to hold a significant share of 28.40% in the glyphosate market by 2024. Moreover, by 2034, the fruits and vegetables and the pulses category are expected to grow at an impressive CAGR of 5.2%.

Why Does the Glyphosate Industry Experience a Surge in Demand for Organic Glyphosate?

“Rising Demand of Granular Glyphosate for the Crop Herbicide Solutions”

The use of granular glyphosate is on the rise in the global market, with a steady growth rate of 4.5% in value CAGR. This form of glyphosate is gaining popularity due to its cost-effectiveness compared to liquid glyphosate. The consumption value of granular glyphosate is expected to reach US$ 3,852 million by 2024, indicating a significant demand for this product in the agricultural sector. The granular form of glyphosate is gradually becoming a preferred choice for farmers and growers worldwide.

Granular glyphosate and similar herbicides are commonly used to eradicate invasive species and restore natural habitats. By significantly improving the establishment of native plants in prairie ecosystems, these herbicides play a vital role in ecological preservation. The application of these herbicides is usually done in a controlled manner, in combination with selective herbicides and conventional weed eradication methods like mulching, to ensure maximum efficacy. The granular form of glyphosate is particularly effective, driving the market's growth.

Competitive Landscape

The market for glyphosate products is experiencing a surge in demand as the need for genetically modified organisms (GMO) crops increases in various regions. The global expansion of agricultural land, the adoption of modern farming practices, and changing harvesting patterns are driving the glyphosate industry forward.

In recent years, GMO plant and crop development has significantly increased in Asia as consumers and industry participants want to maximize profits from agricultural resources. The glyphosate market is expanding quickly because of these considerations. Furthermore, producers are creating GMO seeds resistant to glyphosate, allowing users to employ the herbicide to shield their plants from weeds and the environment.

Moreover, the increasing use of modern agricultural practices is fueling the expansion of the glyphosate market. The commercialization of genetically engineered herbicide-tolerant plants is providing profitable opportunities for market participants.

• In 2021, Syngenta launched a Kesuda isopropylamine salt of 21% N-glycine. The glyphosate product is used to slow down the growth of weeds.
• In November 2023, Amid a deadlock among member states, the European Commission permitted glyphosate to be maintained for an additional decade despite persisting regulatory concerns.

Segmentation of Glyphosate Market

• By Product Types:

  • Liquid
  • Granules

• By End Use:

  • Cereals & Grains
  • Fruits & Vegetables
  • Pulses
  • Roots & Tubers
  • Others

• By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • The Middle East & Africa