The global glyphosate market is expected to exceed USD 8.50
billion by 2020, according to a new study by Grand View Research, Inc. GM crops
have witnessed high penetration, on account of benefits such as high yield and
disease resistance. The amount of glyphosate added to major genetically
modified crops has been increasing over the past few years. This is expected to
drive the global glyphosate market over the forecast period. High demand for
minimum tillage as well as no-tillage systems is also expected to fuel the
market over the next six years. Considerable environmental and health concerns
have led to stringent regulations on glyphosate usage, which may act as a
restraint to industry growth.
Browse full research report on
Glyphosate
Market
Further key findings from
the report suggest:
- Global
glyphosate demand was over 700 kilo tons in 2013, which is expected to
exceed 1,000 kilo tons by 2020.
- Conventional
crops dominated global market volume in 2013; glyphosate is used two to
three weeks before sowing crops such as wheat, sorghum, sunflower, etc.
This aids in significant tillage reduction along with efficient weed
control. GM crops are expected to witness high growth over the forecast
period, primarily due to growing adoption in Latin America, China and
India.
- Asia Pacific
was the largest regional market in 2013; North America accounted for over
25% of the global market volume in the same year. GM crop adoption coupled
with arable land availability in China and India is expected to drive the
Asia Pacific glyphosate market over the next six years.
- Major
industry participants include Monsanto, Syngenta, Nufarm, Dow AgroSciences
and DuPont. Other companies mainly include BASF, Bayer and a large number
of Chinese manufacturers. Key players have targeted weed management
systems development, which help lower adverse environmental impact and
control weeds through different modes as compared to traditional
glyphosate application.
For
more information: http://www.grandviewresearch.com
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