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Glyphosate Market Analysis by Crop Type (Genetically Modified Crops, and Conventional Crops); by Form (Dry, and Liquid); and by Application (Agriculture, Household, Industrial, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Bayer AG, Bunge and Chevron U.S.A. Inc. have signed a shareholders’ agreement in connection with Bayer’s acquisition of a 65 percent majority ownership of the winter oilseed producer CoverCress, Inc.

  • Syngenta Crop Protection AG has entered into an agreement with HL Hutchinsons (HLH) to supply agronomists and farmers with an advanced soil mapping and sampling service initially in continental and Eastern Europe.

Global Glyphosate Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Base Year

2022

Forecast Year

2023-2035

CAGR

~6%

Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2035)

~ USD 18 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global glyphosate market is estimated to garner a revenue of ~USD 18 Billion by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 10 Billion in the year 2022. The primary growth factor for the expansion of the market in the assessment period is the large use of agricultural land for varied purposes across the world and glyphosate being an important part of farming. As per the World Bank data, the total agricultural land in the world accounted for 36.9% of the total land in 2018.

glyphosate market overview image

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Due to the recent susceptibility of fungal diseases, fruit and vegetable cultivation is expected to boost the demand for glyphosate globally. The farmers across the world are using glyphosates over the traditional pesticides for its advantages. Thus, the number of rising farmers is projected to increase the adoption rate of glyphosates. As per a report published in 2021, in India there are almost 150 million farmers.

Global Glyphosate Market: Growth Drivers and Challenges

Growth Drivers

  • Burgeoning Population – The increased demand of food products in order to satisfy the needs of the burgeoning population is expected to rise the sales of glyphosate for agricultural purposes. As per the World Bank, the global population stood up at 7.84 billion in 2021, an increase from 7 billion in 2011.

glyphosate market scope

  • Rising number of Farm-Fields Across the World – Recent estimates suggest that there were approximately 650 million farms worldwide in 2020.

  • Rise in Production of Food grains – The production of food grains in India rose by almost 6 million tons in year 2021-22 to 320 million tons.

  • Maturity of Agricultural Industry – Recently, it has been calculated that the United States agriculture, food, and the related industries generated almost USD 1 trillion to the nation’s gross domestic product (GDP) in the year 2020.

  • Increased Consumption of Chemicals – The global chemical consumption in 2021 accounted for USD 3.96 trillion.

Challenges

  • Harmful Effect on Environment – Although glyphosate is useful in eliminating the weeds and other substances, it is manufactured with toxic ingredients which is harmful for the environment and human after consumption.

  • Lack of Regulatory Standards

  • Additional Expenses Incurred in Production Process

 The global glyphosate market is segmented and analyzed for demand and supply by into agriculture, household, industrial, and others. Out of these, the agriculture segment is attributed to garner the largest market share by 2031 on the back of large employment share in agriculture, owing to a high demand of food and agricultural products.  The World Bank stated that the employment in agriculture accounted at least 27% out of the total employment in 2019.

Global Glyphosate Market Regional Synopsis

The Asia Pacific glyphosate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The share of agricultural employment in India is a primary growth factor for the adoption of glyphosate and the growth of the market. High number of employment rate signifies a high adoption rate of glyphosate in agricultural processes. As per a recent study, total employment in agriculture has gone up from 36% in 2017–18 to 37% in 2018–19 and then to 38% in 2019–20. Further, the large amount of agricultural land in the region is another growth factor which prompts the usage of glyphosate. According to the World Bank, agricultural land in East Asia and the Pacific accounted for approximately 47.7% of total land area in 2018. Additionally, investments in research and development activities and growth in GDP level coupled with high chemical consumption are anticipated to be other growth factors. In 2021, domestic chemical sales in Asia Pacific garnered approximately USD 3 trillion.

glyphosate market share image

Market Segmentation

Our in-depth analysis of the global glyphosate market includes the following segments:

     By Crop Type

  • Genetically Modified Crops
  • Conventional Crops

     By Form

  • Liquid
  • Dry

     By Application

  • Agriculture
  • Household
  • Industrial
  • Others

Top Featured Companies Dominating the Global Glyphosate Market

  • Syngenta Crop Protection AG

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Bayer AG
  • DuPont de Nemours, Inc.
  • The Dow Chemical Company
  • Nufarm Limited
  • Nantong Jiangshan Agrochemical & Chemicals Limited Liability Co.
  • ADAMA Agricultural Solutions Limited
  • UPL Limited, India
  • American Vanguard Corporation
  • Corteva Agriscience

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