Global Glyphosate Market was worth USD 8.70 billion in 2016 and estimated to be growing at a CAGR of 6.4%, to reach USD 11.86 billion by 2021
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Glyphosate is broad-spectrum herbicide brought into the market in 1974 by Monsanto under the trade name Roundup. The technical name for it is (N-phosphomethyl) glycine and it is an organophosphorus compound.
It is used for killing weeds and grasses that compete with commercial crops.
Glyphosate works by inhibiting the production of amino acids in the target plants by affecting the EPSPS enzyme.
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EPSPS enzyme is produced exclusively by plants and microbes since the gene coding for it is not in the mammalian genome. This prevents adverse effects of the herbicide on human life.
This type of herbicides is only effective against actively growing plants. Additionally, some crops have been genetically modified to be resistant against roundup so that its use does not unintentionally harm the growth of the cultivated crop.
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The major driver of the global Glyphosate market is increasing human population. As human population increases the demand for land as well for food increases drastically.
There is bound to be an inevitable collision between humans and wildlife as humans encroach upon more areas to live in. The increased demand for food means that the global produce is just enough to cover the entire human population, so any loss of crop can collapse the entire demand and supply chain.
So, there is constant strain to increase the crop yield and efficiency by controlling the weed infestation. As for the restraints of the industry, the major one is the implementation of stringent government safety regulations to limit the levels of toxicity to reduce the impact of hazardous herbicides on public health and the environment.
The constraints imposed on GM crops and the indifferent attitude of NGO’s towards the use of GM crops are also restraint to the market growth.
The Global Glyphosate market is broadly classified as GM Crops and Conventional Crops based on crop type. Based on Application they are classified as Crop based which includes Grains & Cereals, Oil Seeds and Fruits & Vegetables and Non-Crop based which includes Turf & Ornamental Grass and Others.
Based on geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. The Glyphosate Market is dominated by Asia-Pacific in 2016 with the region accounting for 38% of the overall market share.
North America was next in line followed by Europe. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region.
Another region where the market is expected to thrive is Latin America. Inspite of the small current market share, countries such as Brazil and Argentina are one of the largest producers of genetically-modified herbicide tolerant crops and as such is a region where the industry is expected to boom.
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Glyphosate Market Segmentation:
- GM Crops
- Conventional Crops
- Y-o-Y Growth Analysis, By Crop Type
- Market Attractiveness Analysis, By Crop Type
- Market Share Analysis, By Crop Type
- Crop Based
- Non-Crop Based
- Y-o-Y Growth Analysis, By Application
- Market Attractiveness Analysis, By Application
- Market Share Analysis, By Application
The scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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