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STUDY FORECASTS GLYPHOSATE MARKET TO REACH $9.91 BILLION BY 2022
Source: MarketsandMarkets news release

The report "Glyphosate Market by Crop Type (Genetically Modified, Conventional), Form (Liquid, Dry), Application (Agricultural (Grains & Cereals, Oilseeds & Pulses, Fruits & Vegetables), Non Agricultural), and Region - Global Forecast to 2022", published by Markets and Market, the market is projected to reach a value of USD 9.91 Billion by 2022, at a CAGR of 6.32% from 2016 to 2022.

The market is driven by factors such as commercialization of GM crops, increased application in agricultural and non-agricultural activities. The latter drives the need for modification in glyphosate products, to be used in the non-agricultural activities such as forests and woodlots, industrial oil seed crops and fiber crops, terrestrial feed crops, terrestrial food crops, and industrial and domestic vegetation control non-food sites.

The genetically modified crops segment is projected to be the fastest-growing market during the period 2016-2022

Adoption of this new GM-HT (genetically modified, herbicide tolerant) technology has increased the use of glyphosate, rapidly. GE crops require less amount of pesticides than the conventional crops, and the yield of crops are also being found to be increased. For maize, cotton, and soybean in the U.S., the adoption rate for biotech varieties is very high.

The dry form segment is projected to be the fastest-growing market during the period 2016-2022

Glyphosate is available in liquid and dry forms. Glyphosate products in liquid form help in product effectiveness & efficiency, application to the crops, and equipment requirement for the user. It is largely used in liquid form as sprays and formulations owing to easy handling, storage, and transportation; usage of dry form of glyphosate is gradually increasing and making it a preferable alternative amongst the cultivators.

The grains & cereals segment, by agricultural application, accounted for the largest share in the Glyphosate Market in 2015

On the basis of application, the market is segmented into agricultural and non-agricultural segments. The grains & cereals subsegment under the agricultural applications accounted for the largest share in the Glyphosate Market in 2015. This is due to the high production of grains & cereals such as wheat, rice, and corn.

South America dominated the Glyphosate Market in 2015

The South American region was the largest market for glyphosate in 2015. This can be attributed to the increase in demand for various glyphosate products in countries such as Brazil and Argentina. Brazil is one of the largest producers of genetically modified-herbicide tolerant crops such as soybean, cotton, and sugarcane, this has led to the increased use of glyphosate in this region.

The Glyphosate Market report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Monsanto Company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow chemical company (U.S.), Nufarm limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc.(China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd (China).

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

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