Glyphosate Market - By Application (Conventional Crops, GM Crops) & Forecast, 2024 – 2032

Glyphosate Market Size

Glyphosate Market was valued at around USD 6.21 billion in 2023 and is anticipated to register a CAGR of over 4.5% between 2024 and 2032. The demand for glyphosate, a widely used herbicide, is driven by several key factors. The global increase in agricultural activities to meet the food demands of a growing population has significantly boosted the need for effective weed control solutions, with glyphosate being a top choice due to its broad-spectrum efficacy.
 

The adoption of genetically modified (GM) crops, which are often designed to be glyphosate-resistant, has further propelled its use. Additionally, the herbicide's cost-effectiveness and ability to enhance crop yield and productivity make it a favored option among farmers. Lastly, the expanding application of glyphosate in non-agricultural areas, such as public parks and residential lawns, contributes to its steady market demand. Thus, the market is expected to attain a market value of over USD 9.3 billion by 2032.
 

Environmental and health concerns present a significant pitfall for the glyphosate market. Increasing evidence and public awareness about the potential adverse effects of glyphosate on human health, including links to cancer and other illnesses, have sparked widespread debate and scrutiny. Environmental impacts, such as the disruption of ecosystems and contamination of water sources, have further fueled regulatory actions and restrictions in various regions. This growing opposition could lead to stricter regulations and a shift towards safer, alternative herbicides. Consequently, these challenges threaten to diminish glyphosate's market share and slow its growth.
 

Glyphosate Market Trends

The glyphosate industry is experiencing several notable trends. The growing adoption of precision farming techniques is enhancing the efficient use of glyphosate, making it more effective and reducing wastage. Additionally, ongoing research and development are leading to the introduction of improved formulations with reduced environmental impact. However, increasing regulatory scrutiny and public concern over health risks are prompting some regions to impose restrictions or seek alternative herbicides. There's also a rising trend in organic farming, which avoids synthetic herbicides like glyphosate, potentially impacting market demand. Despite these challenges, glyphosate remains a dominant player in the herbicide market due to its effectiveness and cost-efficiency.
 

Glyphosate Market Analysis

Based on application, the market is divided into conventional crops, GM crops. GM crops held the dominant market share of 2.98 billion in 2023 and is expected to reach USD 4.72 billion by 2032. GM crops are more dominant in the glyphosate market primarily due to their engineered resistance to the herbicide. This allows farmers to apply glyphosate directly to their fields without damaging the crops, effectively controlling weeds and enhancing yield. The convenience and efficiency of using glyphosate-resistant GM crops streamline weed management, reducing labor and costs. Additionally, the high adoption rates of these crops in major agricultural regions further drive glyphosate demand. Consequently, GM crops have become the preferred application, solidifying glyphosate's market dominance.
 

Asia Pacific dominated the global glyphosate market in 2023. It generated a revenue of USD 2.14 billion in 2023 and is expected to reach USD 3.46 billion by 2032. Asia Pacific dominates the market due to its extensive agricultural activities and rapidly expanding population, which drive the need for high crop yields and efficient farming practices. The region's diverse climatic conditions and large arable land area make it a major agricultural hub, necessitating effective weed control solutions. Glyphosate, known for its broad-spectrum efficacy and cost-effectiveness, is extensively used by farmers across the region to maximize productivity and ensure food security.
 

Within Asia Pacific, China stands out as the dominant country in the glyphosate market. China is one of the largest producers and consumers of glyphosate, with significant agricultural output and extensive adoption of GM crops. The country's robust agricultural infrastructure and government support for modern farming techniques further bolster glyphosate usage. Additionally, China's role as a leading glyphosate exporter contributes to its dominant position in the regional market, impacting global supply and pricing dynamics.
 

Glyphosate Market Share

The competitive landscape for the glyphosate industry features a mix of multinational corporations and regional companies, each vying for market share through various strategies. BASF Corporation, Bayer CropScience Ltd., and Dow AgroSciences are notable for their extensive research and development efforts, continuously working on new formulations and technologies to improve the efficacy and safety of glyphosate products. These companies also leverage their global distribution networks to reach a wide customer base. Meanwhile, companies like DuPont and FMC Corporation focus on strategic partnerships and acquisitions to expand their product portfolios and enhance their market presence.
 

Regional players such as Aimco Pesticides Limited, ALPL Agrochemicals, and Bhaskar Agrochemicals Ltd. contribute to the market by catering to specific local needs and preferences. Anhui Huaxing Chemical Industry Company Ltd. and Aristo Biotech & Life Science Pvt. Ltd. emphasize cost-effective production methods to offer competitively priced glyphosate products. These companies often have strong ties with local farmers and agricultural businesses, giving them an edge in understanding and meeting regional demands. The market remains dynamic, with ongoing innovation and competition shaping the availability and diversity of glyphosate products.
 

Glyphosate Market Companies

Major players operating in the glyphosate industry include:

• Aimco Pesticides Limited
• ALPL Agrochemicals
• Anhui Huaxing Chemical Industry Company Ltd.
• Aristo Biotech & Life Science Pvt. Ltd.
• BASF Corporation
• Bayer Cropscience Ltd.
• Bhaskar Agrochemicals Ltd.
• Crop Life Science Ltd.
• Dow AgroSciences
• DuPont
• FMC Corporation
   

Glyphosate Industry News

• In February 2023, Corteva agriscience announced commercial launch of optimum gly canola. Optimum GLY herbicide tolerance is a new, proprietary glyphosate trait technology intended to deliver enhanced weed control and a wider window of herbicide application.
   
• In March 2024, Bayer announced the launch of an alternative to Glyphosate. But it will be some time before alternatives hit the market. Bayer plans to go public in 2028.
   

The glyphosate market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue and volume (USD Million) (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Application

• Conventional Crops
• GM Crops

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Malaysia
  • Indonesia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA