Glyphosate Market Growth Is Positively Impacted By The Increasing Demand For Fertilizers

The Business Research Company’s Glyphosate Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, April 8, 2022 /EINPresswire.com/ — The increasing demand for fertilizers will propel the growth of the global glyphosate market. The growing world population will be demanding more food, water, and agricultural products, so for this demand farmers are using modern agricultural methods to grow plants and crops, to earn maximum profits. Farmers are using maximum quantity fertilizers to protect and grow crops faster. For instance, according to the Food and Agriculture Organization, the global demand for fertilizer nutrients was estimated to be 185,063 tonnes in 2016 and it is expected to reach 200,919 tonnes by the end of 2022. Thus, increasing demand for fertilizers will drive the glyphosate market.

The global glyphosate market size is expected to grow from $8.51 billion in 2021 to $8.88 billion in 2022 at a compound annual growth rate (CAGR) of 4.32%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The glyphosate market share is expected to reach $10.92 billion in 2026 at a CAGR of 5.32%.

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Genetically engineered herbicide-tolerant crops are increasingly gaining popularity and are a key trend in the glyphosate market. It is used by farmers, to provide a variety of options for effective weed control. The genetically modified herbicide-tolerant crops are designed to tolerate specific broad-spectrum herbicides, which kill the surrounding weeds but leave the cultivated crop intact. Farmers use herbicide-tolerant crops because it simplifies weed control in single-use and prepares the crop in less flexible time. For instance, according to USDA survey data 2019, around 89 percent of domestic corn acres are produced with HT seeds.

In May 2021, ADAMA Agricultural Solutions Ltd., Israel-headquartered, crop protection company that develops, produces, and markets products and services acquired a 51% stake in Jiangsu Huifeng Bio Agriculture Co., Ltd., a China-based chemical manufacturing company, for RMB 1,224 million ($0.192 billion). Through this acquisition, ADAMA has gained access to backward-integrated and competitive positions in key global molecules, expected to drive significant growth through ADAMA’s worldwide market reach. Jiangsu Huifeng Bio Agriculture Co., Ltd is based in Jiangsu, China, and was founded in 1989.

Major players covered in the global glyphosate industry are Adama Agricultural Solutions, Bayer CropScience, Nantong Jiangshan Agrochemical & Chemicals, Nufarm, Zhejiang XinAn Chemical Industrial Group Co Ltd., Monsanto India Ltd., Wynca Group, Sinochem, Corteva Agriscience, United Phosphorous Limited, Excel Crop Care Limited, American Vanguard Corporation, King Quenson, Anhui Huaxing Chemical Industry, Fuhua Group, Food Machinery and Chemical Corporation.

Asia-Pacific was the largest region in the glyphosate market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the glyphosates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

TBRC’s global glyphosate market report is segmented by crop type into genetically modified crops, conventional crops, by form into liquid, dry, by application into grains and cereals, pulses and oilseeds, fruits and vegetables, commercial crops, others.

Glyphosate Global Market Report 2022 – By Crop Type (Genetically Modified Crops, Conventional Crops), By Form (Liquid, Dry), By Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Commercial Crops) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a glyphosate market overview, forecast glyphosate market size and growth for the whole market, glyphosate market segments, geographies, glyphosate market trends, glyphosate market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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