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Glyphosate Market Worth USD 9 Billion by 2024 | Hexa Research

Glyphosate Market Worth USD 9 Billion by 2024 | Hexa Research

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Latest Research on Glyphosate Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Research Report by Hexa Research

The global glyphosate market was valued at around USD 5 billion in 2012. It is likely to reach USD 9 billion over the forecast period (2016-2024). Increasing population and the rise in demand for genetically modified (GM) crops are expected to driver of the glyphosate market.

Increase in crop consumption for biofuels and animal feed can propel market growth in the coming years. Moreover, development in the field of genetically modified crops promoting weed resistance is likely to boost market growth. This product helps farmers in reducing the degree of tillage, further positively affect the market.

Browse Details of Report @  https://www.hexaresearch.com/research-report/glyphosate-industry

Glyphosate is used extensively in gardens and home landscaping. It effectively kills annual and perennial grasses along with dandelions, broadleaf weeds, shrubs, poison ivy, kudzu, and other weeds.

Using this product in a large quantity can lead to an increase in immunity in the weeds. Additionally, it can increase the toxicity related risks can also challenge the growth of the glyphosate industry. The market is bifurcated into applications and regions.

Applications comprise of conventional crops and genetically modified. The conventional crops segment dominated the demand accounting to over 52% of the total consumption in 2014. However, the genetically modified crop based application can exhibit the highest gain over the forecast period.

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Regions are divided into North America, Europe, Asia Pacific, and the RoW (Rest of the World). Asia Pacific held the largest market in 2013. It is expected to continue doing so, over the forecast period, owing to the rapid adoption of the product in countries like India and China.

North America can exhibit substantial growth over the eight years. The growth can be attributed to the awareness of the increase in agricultural yield. However, European glyphosate industry held around 15% of market share in terms of total volume, in 2014. However, it is likely to show less demand due to the unfavorable regulations of the region.

Zhejiang Xinan Chemical Industrial Group Company Limited, Monsanto, BASF SE, and SinoHarvest Corporation are some of the major competitors of the global glyphosate market. Monsanto is leading the worldwide market, owing to the role in the introduction and adoption of crops that are glyphosate-tolerant. The players engage in mergers and acquisitions as a part of their strategic activities.

Browse Related Category Reports @ https://www.hexaresearch.com/research-category/agrochemicals-and-fertilizers-market

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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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