Glyphosate Market to Reach USD 13.31 Billion By 2027 | Reports and Data

The growing demand for high-value crops is a significant factor influencing the growth of the Glyphosate market.

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New York, Dec. 14, 2020 (GLOBE NEWSWIRE) -- The global glyphosate market size is forecast to reach USD 13.31 Billion by 2027, according to a new report by Reports and Data. The glyphosate market is observing high demand owing to increasing demand by the growing global population. The population is currently increasing at a rate of about 1.05 percent per year across the globe. Each year the current average population growth is projected to hit 81 million people. From 3 billion in 1959 to 6 billion in 1999, the world's population has doubled. It is estimated that it will take another 40 years or so to expand by a further 50% to hit 9 billion by 2037. This trend implies an increasing worldwide market for food items. Food demand is projected to grow from 59.0 percent to 98.0 percent by 2050. One of the ways, this demand could be met by improving productivity by using herbicides to destroy weeds that hinder the growth of plants and crops.

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The COVID-19 impact:

The COVID-19 pandemic is having a significant impact on the glyphosate industry. Demand for glyphosate is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a down turn. The shortage of demand has created an oversupply situation in the global chemical sector. The lack of free movement of the labor force required for the application of herbicides or weed killers in the agricultural fields, thereby hindering market growth. Movement restrictions appear to be a direct and immediate effect of lockdowns, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.

Further key findings from the report suggest

  • Non-selective herbicides such as glyphosate have garnered significant demand in clearing wastelands and industrial and construction areas for weed control.
  • Glyphosate eliminates a wide range of weeds and assists farmers in more sustainable crop production by allowing farmers to exercise conservation tillage, which is beneficial for reducing carbon emissions, soil health, and water conservation.
  • On average, about 84.0% of glyphosate used in agricultural lands, in terms of volume, is applied to corn, soybeans, or cotton annually.
  • Glyphosate is the most commonly used herbicide to control invasive species in the U.S. Besides arable lands, glyphosate is essential for invasive and noxious weed control in forestry, pastures/rangelands, aquatic systems, public lands, and rights-of-way applications.
  • Key participants include Bayer AG, Nufarm Limited, E.I. Du Pont De Nemours and Company, Syngenta AG, ADAMA Agricultural Solutions Limited, Nantong Jiangshan Agrochemical & Chemical, Inc., The Dow Chemical Company, United Phosphorous Limited, and Monsanto Company, Zhejiang Xinan Chemical Industrial Group Company Limited, among others.

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For the purpose of this report, Reports and Data has segmented into the global glyphosate market on the basis of crop type, distribution channel, application, and region:

  • Crop Type Outlook (Revenue, USD Billion; 2017-2027)
    • Genetically Modified
    • Conventional
  • Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
    • Online
    • Offline
  • Application Outlook (Revenue, USD Billion; 2017-2027)
    • Agricultural
      1. Oilseeds & Pulses
      2. Grains & Cereals
      3. Fruits & Vegetables
    • Non-Agricultural

To identify the key trends in the industry, click on the link below:

  • Regional Outlook (Revenue, USD Billion; 2017-2027)
    • North America
      1. U.S.
      2. Canada
    • Europe
      1. Germany
      2. UK
      3. France
      4. BENELUX
      5. Rest of Europe
    • Asia Pacific
      1. China
      2. Japan
      3. South Korea
      4. Rest of APAC
    • MEA
      1. Saudi Arabia
      2. UAE
      3. Rest of MEA
    • Latin America
      1. Brazil
      2. Rest of LATAM

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