News
According to a new market report published by Transparency Market Research, the global glyphosate market was valued at USD5.46 billion in 2012 and is expected to reach $8.79 billion by 2019, growing at a Compounded Annual Growth Rate (CAGR) of 7.2% over the forecast period from 2013 to 2019. In terms of volume, the global glyphosate market demand was 718.6 kilo tons in 2012.
Increasing adoption of glyphosate tolerant GM crops mainly in the emerging economies of Asia Pacific and Latin America is expected to boost the market for glyphosate over the next six years. Additionally, the rising demand for no tillage farming systems is in turn expected to fuel glyphosate market. However, quick evolution and emergence of glyphosate resistant weeds along with stringent regulations over the use of agrochemicals, especially in Europe, is expected to fetter market growth over the forecast period.
As a response to the above mentioned factors, key manufacturers such as Monsanto Company, Dow AgroSciences and DuPont have been shifting their focus to develop integrated weed management systems, in order to reduce reliance on single dominant herbicide such as glyphosate.
Asia Pacific, riding on the high growth in countries such as China and India, is anticipated to be the fastest growing market over the forecast period of next six years. Growing adoption of herbicide tolerant GM crops in the region is one of the major reasons for the rising demand of glyphosate in Asia Pacific.
In recent years, energy is in great demand globally and every country begins to focus on the development of bio-energy. Anti-glyphosate transgenic crops like corn and soybean expand constantly and the demand for glyphosate herbicide increase greatly, promoting glyphosate price.
With the constant increase both in global bio-energy and planting area of GM crops, the global demand for glyphosate will keep growing stably
