Glyphosate is a low-toxicity, chemical formulation effective for weed control. Glyphosate is a type of herbicide with a comparatively small molecule, with a molecular weight of 169g. Glyphosate is a derivative of amino acid glycine, where one of the amino hydrogen is replaced with a phosphonomethyl group.
Glyphosate is most frequently used in the agriculture industry to control weed in a wide range of crops such as cereals, grains, pulses, fruits, vegetables, tubers, and other crops. It is effective to kill weeds such as chickweed, barnyard grass, dandelion, and other weeds.
Glyphosate is usually spread on weeds in water-diluted solutions and is rapidly absorbed by plants. It works by blocking the metabolic pathway, which is essential for the plant's growth. Glyphosate has replaced mechanical weed control in many crops and has had an important impact on agriculture practices and crop yield throughout the globe.
Global Glyphosate Market: Key Dynamics
Increasing Demand for GMO Crops across East Asian and South Asian Markets Surging the Sales of Glyphosate Products
The global rise in agricultural land and modern agriculture practices and changing harvesting trends are driving the growth of the glyphosate market. From the last decade, plantation of GMO crops has increased dramatically especially in the East Asia and South Asia regions, farmers are opting for GMO plantation in order to increase production within a short span of a period, which also helps to earn higher profit margins.
Asia Pacific regions are more prominent in the plantation of GMO crops and plants. Most Asia Pacific countries are dependent on agriculture resources to increase profits. These factors are fueling the growth of the glyphosate market. At the same time, manufacturers are producing glyphosate-resistant GMO seeds, which are enabling farmers to use glyphosate to protect plants from unwanted weeds and other natural effects.
Increasing Modern Agricultural Practices Fueling the Growth of Glyphosate Market
As population grows, the demand for food and other resources such as energy, water, and agriculture products increases. This factor is increasing the prices of agriculture products. Farmers are using modern agricultural tools to grow plants and crops to earn maximum profits. Farmers frequently use glyphosate to protect crops from weed and unwanted grass. In some regions, farmers use maximum quantity of glyphosate to grow crops faster and to increase production. These factors are driving the demand for glyphosate in the market.
Pre-Plantation Practices Driving the Growth of Glyphosate Market
“Pre-Planting” treatment is still a vital tool for controlling weeds before planting the next crop. Farmers use this tool before plantation. They keep land empty for a certain time period to kill the weed from the land so that it cannot compete with the crops. Farmers mostly apply glyphosate on the field 4 to 6 weeks before plantation, to clear fields of these weeds and volunteer crops. These tools are used globally by farmers to protect plants and crops from weeds. Due to empty land and 4 to 6 weeks of time period, crops are not getting affected by glyphosate or other chemicals. These factors are boosting the demand for glyphosate in the market.
Soaring Demand for GMO Grass in Gardens, Lawn, Turf, Stadiums, and Play Grounds Boosting the Market Growth of Glyphosate
With increasing urbanization and population, the number of gardens, lawns, turfs, stadiums, and play grounds is increasing day by day. These playgrounds and gardens are built for relaxation of people. In urban areas, people don’t have places to spend time or surround themselves with plants and nature. Governments create these gardens and lawns for people where GMO grass is cultivated for greenery. To control weeds from these gardens, lawns, turfs, stadiums, and playgrounds, glyphosate is used in huge quantities. These factors are creating huge opportunities for the glyphosate market.
Glyphosate Witnessing Declining Demand in the US and Europe Owing to Stringent Regulations
In 2014, some farmers complained against the use of glyphosate, as it causes cancer. More than 30,000 health care specialists advocated for glyphosate ban and International Agency for Research on Cancer’s report on glyphosate determined that the chemical is probably carcinogenic to humans. Due to these reasons, the U.S and some parts of Europe imposed strict regulations for the use of glyphosate and some countries banned the use of glyphosate. Hence, glyphosate is facing low demand across these regions.
Glyphosate Market: Report Highlights
The glyphosate market report analyzes the opportunities in the global market, analyzing the data on a historical basis, estimated data for 2019, and forecasted data till the year 2029. The market analysis includes data in terms of both, value (US$) and volume (MT). The market outlook of the glyphosate market report covers an overview of the agriculture industry, global pesticide industry outlook, macroeconomic outlook, and forecasted factors. The market dynamics section includes key drivers, trends, and restraints prohibiting the growth of the glyphosate market, value chain analysis, and others. The competitive landscape of multinational players operating in the business of glyphosate, and market attractiveness analysis by product type, application, and region are some of the key insights covered in the report.
Glyphosate Market: Taxonomy
The research report assesses the market share of the glyphosate market on a global perspective by product type, application, and regional analysis. The regional segment includes glyphosate markets of North America, Europe, Latin America, South Asia, East Asia, Oceania, and Middle East and Africa. The report provides market outlook as per historical data of 2014–2018 and forecasted data for 2019–2029. This study includes an in-depth analysis of the global glyphosate market, including recent developments, product offerings by key glyphosate manufacturers, opportunity assessment, and key drivers and trends contributing towards the growth of the glyphosate market, globally.
Research Steps for Market Crackdown
The global glyphosate market report begins by estimating the market in the base year in terms of value and volume consumption. To arrive at the volume consumption of glyphosate, Persistence Market Research (PMR) estimated volume data on the consumption of pesticides, further scrutinized data analysis of herbicides for several countries, and track the type of herbicides used across various countries and regions. The data was further validated through evaluating harvested cropland throughout the globe, and the average use of glyphosate on harvested crops and also evaluating the crop cycle. After analyzing the pesticide market, we have analyzed the glyphosate composition ratio and the inclusion level of glyphosate in crop protection products, which assisted us in deriving overall estimates for glyphosate. These include the production, growth, volume and value sales, transition, pricing, and consumption of glyphosate for agriculture production. The consumption and production of different types of glyphosate were also analyzed across multiple regions to support the glyphosate market forecast. PMR then determined the volume consumption of glyphosate across various regions such as of North America, Europe, Latin America, South Asia, East Asia, Oceania, and Middle East and Africa.
To forecast and analyze the data, an internal proprietary model was used to analyze different macro-economic, industry-based demand driving factors impacting the market, and forecast trends. Factors include the growth of the global agriculture industry and harvesting land using herbicides and its sub-industry verticals, growth of harvesting land for cereals, grains, fruits, vegetables, roots and tubers, pulses and other croplands, consumption patterns, methods of application, mixture ration, per hector usage of glyphosate, and other methods. By identifying and allocating a weighted score to macroeconomic and forecast factors that influence the demand for glyphosate, the market is assessed. Factors such as production of glyphosate and consumption patterns in the agriculture industry have been taken into consideration to arrive at the volume consumption of glyphosate in respective countries. Factors such as global glyphosate production of each region, have also been considered for market estimation of glyphosate. While analyzing the market, valid and authorized secondary data sources were considered, and also primary interviews were conducted in order to arrive at reliable and accurate data about the glyphosate market.
To analyze the pricing of glyphosate, the weighted average selling price method for glyphosate was considered. These prices were confirmed in their respective countries and then converted into USD to offer forecasts in one consistent currency standard.
Given the characteristics of the market, PMR triangulated the data based on the demand side, supply side, and market dynamics of the global glyphosate market. To develop the global glyphosate market forecast, PMR analyzed various factors to understand their respective impacts on the target market. However, quantifying the market across segments such as type, sources, and application is more a matter of quantifying expectations and analyzing the opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that, in an ever-fluctuating economy, PMR not only provides forecasts in terms of CAGR but also analyzes on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and identify the right opportunities.
Another key feature of this report is the market attractiveness index of each segment in the global glyphosate market, and the corresponding revenue forecast in terms of absolute dollar opportunity. To understand key segments in terms of their growth and performance in the global glyphosate market, Persistence Market Research has presented a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global glyphosate market on the basis of market size, market share, and incremental opportunity. The revenue forecast in terms of absolute dollar opportunity is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global glyphosate market.
In the final section of the report on the global glyphosate market, a competitive landscape is included to provide a dashboard view of global glyphosate manufacturers. During the course of the research, many secondary and primary sources were considered. Secondary sources include paid databases, annual reports_bk_01_01_2020, investor presentations, publications, newsletters, blogs, reports_bk_01_01_2020 published by industry associations, and others. Detailed company profiles of glyphosate manufacturers are included in the scope of the study to evaluate their key strategies, key developments in the glyphosate market space, and regional presence of glyphosate manufacturers. Some of the key players analyzed are DowDuPont, Nufarm, BASF.SE, UPL Ltd, HELM AG, Bayer, Rolfes Agri, Wynca Group, ADAMA Ltd, Albaugh LLC, GOOD HARVEST, ENVIRO Bio?Chem, Drexel Chemical, ECOGAURD, Bharat Group, Crystal Crop Protection Limited., Aristo Biotech, HPM Chemicals & Fertilizers Ltd., Kalyani Industries Ltd., Crop Chemicals India Ltd., and others. The key players are focusing on new product launches and mergers for business expansion growth and development.