Glyphosate Market To Report Impressive Growth, Revenue To Surge To US$10.88 Billion By 2024

With the presence of a large pool of participants, the global glyphosate market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Bayer AG, Monsanto Company, BASF SE, Dow AgroSciences LLC, and Nantong Jiangshan Agrochemical & Chemicals Company Limited, and Zhejiang Xinan Chemical Industrial Group Company are some of the key vendors of glyphosate across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the glyphosate market study.

This review is based on a report by Zion Market Research, titled “Glyphosate Market for Conventional Crops and Genetically Modified Crop Applications: Global Market Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024.”- Report at https://www.zionmarketresearch.com/report/glyphosate-market

Citing an instance, in September 2018, a Brazilian court overturned a ruling banning products comprising the popular weedkiller glyphosate overturning the previous verdict that had disrupted the soy planting season.   

As estimated in this report, the global glyphosate market stood at US$ 7.24 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this glyphosate market is expected to reach US$ 10.88 billion by the end of the forecast period.

Myriad Product Applications in Farming Sector To Elevate Market Size

“Extensive product applications in agriculture, floriculture, horticulture, and non-agricultural activities such as gardening and construction is expected boost glyphosate market demand,” says the author of this glyphosate market study. Apart from this, large scale applications of the herbicide to reduce the weed & unwanted plant growth and improve crop yield is predicted to further leverage glyphosate market progression in the years to come. In addition, breakthroughs in traditional farming practices along with massive penetration of genetically modified crops for gaining large crop yield are expected to drive glyphosate market trends in the coming years.

Strict regulations governing the product use, however, are predicted to put brakes on the growth rate of glyphosate market in the coming years. Nevertheless, escalating product popularity in emerging economies is likely to create slew of opportunities for glyphosate market in the near future. This, in turn, is expected to reverse the impact of hindrances on the glyphosate market over the coming years.

Humungous Demand Of Genetically Modified Crops To Aid Regional Dominance

Regionally, Asia Pacific has been leading the worldwide glyphosate market and is anticipated to continue on the dominant position in the years to come, states the glyphosate market study. Massive acceptance of genetically modified crops resulting in large-scale demand for glyphosate is the main factor behind the dominance of the Asia Pacific glyphosate market. The high number of market players being headquartered in Asia Pacific is another significant factor that is supporting the growth of this regional glyphosate market. In addition, abundant availability of arable land along with massive penetration of modern farming techniques in the region is expected to boost the demand for glyphosate in the region in the coming years.

The global glyphosate market is segmented as follows:

By Application

• Conventional Crops
• Genetically Modified Crops

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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