The global glyphosate market was valued at US$ 5.46 billion in 2012. After displaying a CAGR of 7.2 from 2013 to 2019, the market is expected to reach a total worth of US$8.79 billion in 2019. By volume, the global glyphosate market was 718.6 kilo tons in 2012.
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A research report titled “Glyphosate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” has been published by Transparency Market Research. The document covers all priority aspects of the glyphosate market by category.
The report states the acceptance and adoption of glyphosate tolerant genetically modified crops by emerging nations in the Asia Pacific and Latin America regions is what will provide growth for the glyphosate market over the next few years.
The report explains how the increasing demand for no tillage farming systems is driving the glyphosate market. It also cites restraining factors for the glyphosate market as regulatory mandates by governing bodies over the use of genetically modified crops and the inevitable emergence of glyphosate resistant weeds. Most of the regulations are imposed especially in Europe.
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Top players are trying to mitigate the restraining factors by shifting their focus to the development of integrated weed management systems. This could reduce the reliance on a single dormant herbicide including glyphosate.
The Asia Pacific region is showing a faster than anticipated growth rate in the glyphosate market. Emerging countries such as China and India are gaining awareness of the use of glyphosate and genetically modified crops to increase agricultural yield. Their growth is causing the Asia Pacific region to score the highest growth rate in the global glyphosate market. The Asia Pacific region held more than 30% of the world’s glyphosate demand in 2012. This market hold is expected to grow at a CAGR of 7% from 2012 to 2019.
By revenue, the report lists North America as the highest generator. This is because of higher priced glyphosate products of a specialized nature that are made available in the North American markets, as opposed to the low cost generic products available in Asia Pacific.
The report says that the demand for glyphosate products had experienced a tremendous growth in the past two decades after the release of Roundup Ready, glyphosate tolerant genetically modified crops by Monsanto in 1995.
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An increasing demand for genetically modified crops of cotton, maize, soybean and rapeseed in most North American and Asia Pacific nations has further boosted the growth of the global glyphosate market.
The report states 45.2% of the total glyphosate demand in 2012 was from genetically modified crop farms.
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