New York, March 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Glyphosate Global Market Report 2022" - https://www.reportlinker.com/p06248454/?utm_source=GNW
, Wynca Group, Sinochem, Corteva Agriscience, United Phosphorous Limited, Excel Crop Care Limited, American Vanguard Corporation, King Quenson, Anhui Huaxing Chemical Industry, Fuhua Group, Food Machinery and Chemical Corporation.
The global glyphosate market is expected to grow from $8.51 billion in 2021 to $8.88 billion in 2022 at a compound annual growth rate (CAGR) of 4.32%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.92 billion in 2026 at a CAGR of 5.32%.
The glyphosate market consists of sales of herbicide and related products by entities (organizations, sole traders, and partnerships) that are used in the agriculture industry to control weed in a variety of crops such as grains, pulses, cereals, fruits, tubers, vegetables, and other crops.Glyphosate is a low-toxicity, chemical formulation that is effective for weed control.
These chemicals are directly sprayed on the leaves that are further absorbed by plants as nutrients.
The main types of glyphosates include genetically modified crop and conventional crops.The genetically modified crop market consists of the sale of genetically modified crops by entities (organizations, sole traders, and partnerships) used for killing the herbaceous and woody weeds found in the genetically modified crop.
Genetically modified crops are those crops that are obtained by inserting DNA into the genome of a plant.The conventional crop market consists of the sale of conventional crops by entities (organizations, sole traders, and partnerships) used for killing the herbaceous and woody weeds which are found in conventional crops.
Glyphosates are used for grains and cereals, pulses and oilseeds, fruits and vegetables, commercial crops, and others. Glyphosates can either be a liquid or dry.
The main types of crops in glyphosate are genetically modified crops, and conventional crops.Genetically modified crops are plants that involves inserting DNA into the genome of an organism.
Conventional crops are plants that involves using pesticides and other chemicals to get the highest possible yield of crops. These glyphosate are used in grains and cereals, pulses and oilseeds, fruits and vegetables, commercial crops, and others.
Asia-Pacific was the largest region in the glyphosate market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing demand for fertilizers will propel the growth of the glyphosate market.The growing world population will be demanding more food, water, and agricultural products, so for this demand farmers are using modern agricultural methods to grow plants and crops, to earn maximum profits.
Farmers are using maximum quantity fertilizers to protect and grow crops faster.For instance, according to the Food and Agriculture Organization, the global demand for fertilizer nutrients was estimated to be 185,063 tonnes in 2016 and it is expected to reach 200,919 tonnes by the end of 2022.
Thus, increasing demand for fertilizers will drive the glyphosate market.
Genetically engineered herbicide-tolerant crops are increasingly gaining popularity and are a key trend in the glyphosate market.It is used by farmers, to provide a variety of options for effective weed control.
The genetically modified herbicide-tolerant crops are designed to tolerate specific broad-spectrum herbicides, which kill the surrounding weeds but leave the cultivated crop intact.Farmers use herbicide-tolerant crops because it simplifies weed control in single-use and prepares the crop in less flexible time.
For instance, according to USDA survey data 2019, around 89 percent of domestic corn acres are produced with HT seeds.
In May 2021, ADAMA Agricultural Solutions Ltd., Israel-headquartered, crop protection company that develops, produces, and markets products and services acquired a 51% stake in Jiangsu Huifeng Bio Agriculture Co., Ltd., a China-based chemical manufacturing company, for RMB 1,224 million ($0.192 billion). Through this acquisition, ADAMA has gained access to backward-integrated and competitive positions in key global molecules, expected to drive significant growth through ADAMA’s worldwide market reach. Jiangsu Huifeng Bio Agriculture Co., Ltd is based in Jiangsu, China, and was founded in 1989.
The countries covered in the Glyphosate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06248454/?utm_source=GNW
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