Glyphosate Market

Global Glyphosate Market Size (2024 to 2032)

The global glyphosate market was valued at USD 11.15 billion in 2023 and is anticipated to reach USD 11.86 billion in 2024 from USD 19.49 billion by 2032, growing at a CAGR of 6.4% from 2024 to 2032.

Glyphosate is a broad-spectrum herbicide brought into the market in 1974 by Monsanto under the trade name Roundup. The technical name for it is (N-phosphomethyl) glycine and it is an organophosphorus compound. It is used for killing weeds and grasses that compete with commercial crops.

Glyphosate works by inhibiting the production of amino acids in the target plants by affecting the EPSPS enzyme. EPSPS enzyme is produced exclusively by plants and microbes since the gene coding for it is not in the mammalian genome. This prevents adverse effects of the herbicide on human life. This type of herbicide is only effective against actively growing plants. Additionally, some crops have been genetically modified to be resistant to roundup so that their use does not unintentionally harm the growth of the cultivated crop.

Market Drivers and Restraints

The major driver of the Glyphosate market is increasing the human population. As the human population increases, the demand for land as well as food increases drastically. There is bound to be an inevitable collision between humans and wildlife as humans encroach upon more areas to live in. The increased demand for food means that the production is just enough to cover the entire human population, so any loss of crop can collapse the entire demand and supply chain. So, there is a constant strain to increase the crop yield and efficiency by controlling weed infestation. As for the restraints of the industry, the major one is the implementation of stringent government safety regulations to limit the levels of toxicity to reduce the impact of hazardous herbicides on public health and the environment. The constraints imposed on GM crops and the indifferent attitude of NGOs towards the use of GM crops are also restraints to market growth.

REPORT COVERAGE

REGIONAL ANALYSIS

The Glyphosate market was dominated by Asia-Pacific in 2016, with the region accounting for 38% of the overall market share. North America was next in line followed by Europe. Asia-Pacific is expected to grow rapidly in the coming years as is evident from the high CAGR value for the region. Another region where the market is expected to thrive is Latin America. In spite of the small current market share, countries such as Brazil and Argentina are some of the largest producers of genetically modified herbicide-tolerant crops and, as such, regions where the industry is expected to boom.

KEY MARKET PLAYERS

The key players that are present in the glyphosate industry include Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow Chemical Company (U.S.), Nufarm Limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China).

DETAILED SEGMENTATION OF THE GLOBAL GLYPHOSATE MARKET INCLUDED IN THIS REPORT

This research report on the global glyphosate market has been segmented and sub-segmented into the following categories.

By Crop Type

• GM Crops
• Conventional Crops

By Application

• Crop
• Grains & Cereals
• Oil Seeds
• Fruits & Vegetables

By Non-Crop

• Turf & Ornamental Grass
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa