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Glufosinate Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Glufosinate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UK, August 21, 2024 /EINPresswire / -- The glufosinate market has experienced robust growth in recent years, expanding from $2.31 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to expansion of gm crop adoption, rise in agricultural productivity, global growth in agriculture, resistance management strategies, supportive regulatory environment.
Strong Future Growth Anticipated
The glufosinate market is projected to continue its strong growth, reaching $3.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to continued weed resistance challenges, market penetration in emerging economies, global population growth, and shift in cropping patterns.
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Growth Driver Of The Glufosinate Market
The demand for genetically modified crops is expected to propel the growth of the glufosinate market going forward. Genetic modification crop involves inserting a specific stretch of genetic material into the plant's genome to provide new or altered features that are utilized to produce ingredients for human use such as corn flour, corn syrup, and corn oil. Glufosinate is a broad-spectrum herbicide that is often used to reduce weeds on genetically modified crops as well as their interactions with microplastics, as a result, demand for genetically modified crops increases the demand for glufosinate.
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Major Players And Market Trends
Key players in the glufosinate market include Bayer AG, YongNong BioSciences Co. Ltd., United Phosphorus Ltd., DuPont de Nemours Inc., Hebei Veyong Biochemical Co. Ltd.
Major companies operating in the glufosinate market are focused on developing advanced herbicides, such as non-selective herbicides, for enhanced weed control and sustainable agriculture. A non-selective herbicide is a type of herbicide that is designed to control or eliminate a wide range of plant species, without specificity for particular types of plants.
Segments:
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Formulation: Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, Other Formulations
3) By Application: Non-Agricultural, Agricultural, Oilseeds And Pulses, Grains And Cereals, Fruits And Vegetables, Other Applications
Geographical Insights: North America Leading The Market
North America was the largest region in the gulfosinate market in 2023. The regions covered in the glufosinate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Glufosinate Market Definition
Glufosinate is a broad-spectrum herbicide that has caused glyphosate to exert huge selection pressure on weed populations. It is a nonselective foliar herbicide used for broadcast burndown applications of canola, corn, sweet corn, soybeans, and sugar beet before planting or before emergence.
Glufosinate Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Glufosinate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on glufosinate market size , glufosinate market drivers and trends, glufosinate market major players, glufosinate competitors' revenues, glufosinate market positioning, and glufosinate market growth across geographies. The glufosinate market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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