Glyphosate Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa ResearchA Chapter by Markets InsightsThe global glyphosate market is expected to be valued at USD 9 billion over the forecast period of 2016-2024.The global glyphosate market was valued at
around USD 5 billion in 2012. It is likely to reach USD 9 billion over the forecast period (2016-2024). Increasing
population and the rise in demand for genetically modified (GM) crops are
expected to driver of the glyphosate market.
Increase in crop
consumption for biofuels and animal feed can propel market growth in the coming
years. Moreover, development in the field of genetically modified crops
promoting weed resistance is likely to boost market growth. This product helps
farmers in reducing the degree of tillage, further positively affect the
market.
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Glyphosate is used
extensively in gardens and home landscaping. It effectively kills annual and
perennial grasses along with dandelions, broadleaf weeds, shrubs, poison ivy,
kudzu, and other weeds.
Using this product
in a large quantity can lead to an increase in immunity in the weeds.
Additionally, it can increase the toxicity related risks can also challenge the
growth of the glyphosate industry. The market is bifurcated into applications
and regions.
Applications
comprise of conventional crops and genetically modified. The conventional crops
segment dominated the demand accounting to over 52% of the total consumption in
2014. However, the genetically modified crop based application can exhibit the
highest gain over the forecast period.
Regions are divided
into North America, Europe, Asia Pacific, and the RoW (Rest of the World). Asia
Pacific held the largest market in 2013. It is expected to continue doing so,
over the forecast period, owing to the rapid adoption of the product in
countries like India and China.
North America can
exhibit substantial growth over the eight years. The growth can be attributed
to the awareness of the increase in agricultural yield. However, European
glyphosate industry held around 15% of market share in terms of total volume,
in 2014. However, it is likely to show less demand due to the unfavorable
regulations of the region. Zhejiang Xinan
Chemical Industrial Group Company Limited, Monsanto, BASF SE, and
SinoHarvest Corporation are some of the major competitors of the global
glyphosate market. Monsanto is leading the worldwide market, owing to the role
in the introduction and adoption of crops that are glyphosate-tolerant. The
players engage in mergers and acquisitions as a part of their strategic
activities.
Browse Related Category Reports @ https://www.hexaresearch.com/research-category/agrochemicals-and-fertilizers-market
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Added on January 4, 2017 Last Updated on January 4, 2017 Tags: glyphosate market, glyphosate market size, glyphosate market share, glyphosate market analysis, glyphosate market growth, glyphosate market trends, glyphosate market forecasts AuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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