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Glyphosate Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Glyphosate Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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The glyphosate market has experienced significant growth in recent years, increasing from $10.06 billion in 2023 to an anticipated $10.99 billion in 2024, with a compound annual growth rate (CAGR) of 9.2%. This growth in the past period can be credited to factors such as the adoption of genetically modified (GM) crops, enhanced agricultural productivity, an increase in no-till farming methods, global agricultural expansion, and the cost-effectiveness and versatility of glyphosate.
What Is the Projected Market Size of the Global Glyphosate Market and Its Growth Rate?
The glyphosate market is projected to experience robust growth in the coming years, reaching $15.48 billion by 2028 with a compound annual growth rate (CAGR) of 8.9%. This anticipated growth is linked to the emergence of alternative weed control methods, stricter regulations, environmental concerns, a rise in precision agriculture adoption, a shift towards sustainable practices, and increased public awareness and consumer preference. Key trends during this period include advancements in herbicide technology, sustainable agriculture practices, resistance management strategies, greater adoption of genetically modified (GM) crops, and heightened regulatory scrutiny and bans.
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What are the Key Drivers Fueling Growth in the Glyphosate Market?
The rising population and growing food demand are driving the expansion of the glyphosate market. This global need for sustainable agricultural practices is underscored by the increasing demand for food. As an essential tool in modern agriculture, glyphosate helps meet these needs by improving crop yields and providing effective weed control, supporting the overall objective of sustaining a growing population.
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Who Are the Key Players Driving Growth in the Glyphosate Market?
Major companies operating in the glyphosate market report are Sinochem Corporation Limited, BASF SE, Dow AgroSciences LLC, Syngenta Group AG, Bayer CropScience AG, Corteva Agriscience LLC, United Phosphorous Limited, UPL Limited, Food Machinery and Chemical Corporation, Adama Agricultural Solutions Ltd., Luxi Chemical Group Co. Ltd., Nufarm Limited, Zhejiang XinAn Chemical Industrial Group Co. Ltd., Wynca Group Limited, King Quenson Industry Co. Ltd.
What Are The Emerging Trends Shaping The Growth Of The Glyphosate Market?
Leading companies in the glyphosate market are pursuing strategic partnerships to invest in innovative solutions and broaden the range of options available to farmers. These partnerships involve companies combining their strengths and resources to achieve shared benefits and drive mutual success.
What Are the Segments of the Global Glyphosate Market?
1) By Crop Type: Genetically Modified Crops, Conventional Crops
2) By Form: Liquid, Dry
3) By Application: Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops, Other Applications
Geographic Overview: Asia-Pacific at the Helm of the Glyphosate Market
Asia-Pacific was the largest region in the glyphosate market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the glyphosate global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Glyphosate Market Defined?
Glyphosate is utilized in the agriculture industry to manage weeds across a range of crops, including grains, pulses, cereals, fruits, tubers, vegetables, and more. This low-toxicity chemical formulation is effective for weed control, with application directly on leaves where it is absorbed by plants as nutrients. It is primarily used on both genetically modified and conventional crops. Genetically modified crops are created by inserting specific DNA into the genome of an organism.
The Glyphosate Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Glyphosate Market Report: Trends, Opportunities, Strategies, and More
The Glyphosate Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the glyphosate market size, glyphosate market drivers and trends, glyphosate global market major players, glyphosate competitors' revenues, glyphosate global market positioning, and glyphosate market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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