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Published Date: 2014-02-11Number of Pages: 81

Glyphosate Market for Genetically Modified and Conventional Crops - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019

Global Glyphosate Market: Snapshot 

For the last many years farmers around the world are using glyphosate as a non-selective herbicide that controls both broadleaf grass and weeds. The herbicide properties present in glyphosate were first discovered in 1974, Monsanto. The same year, it was first launched in the market. Glyphosate herbicides help enhancing crop tolerance hence, their demand is projected to rise at a significant pace over the forecast period. As per experts, the advent of genetically modified glyphosate resistant crops provided a major boost to the global glyphosate market. 

Considering the benefits it offers, a substantial amount of glyphosate is produced for consumption around the world. Besides this, glyphosate has a wide array of applications including weed control in olive groves, vineyards, fruit orchards, forestry, grass pastures, gardens, parks, and underwater usage in lakes and rivers. As per Transparency Market Research (TMR), the demand for glyphosate will gain pace in the coming years, chiefly driven by factors such as the rising demand for no tillage farming systems. The market is projected to reach US$8.79 bn by the end of 2019. 

On the downside, stringent regulations especially in Europe could limit the expansion of the market in the region. It also faces challenge from the fast evolving glyphosate resistant weed. To counter the impending scenario, leading players in the market are focusing to develop integrated weed management system comprising a calculated combination of various herbicides to avoid dependence on a particular one such as glyphosate herbicide. 

Genetically Modified Crops Segment to Emerge Dominant based on Application 

Based on application, the global glyphosate market has been bifurcated into genetically modified (GM) crops and conventional crops. Among these, the conventional crops exhibited higher demand for glyphosate herbicides, accounting for a dominant share of 54.8% in the global market based on volume in 2012. However, the use of glyphosate for GM crops is rising at a higher speed globally. The segment held around 45.2% of the global market in 2012. Due to the increasing adoption of genetically modified crops such as rapeseed, soybean, cotton, and maize, the demand for glyphosate is expected to increase at a robust pace in the near future. 

High Export from China to Seal Asia Pacific’s Position as the Dominant Region 

Regionally, Asia Pacific held lead in the global glyphosate market and is projected to expand at a robust 7% CAGR between 2013 and 2019. Rising at this pace, the region will continue holding dominance in the global market through the forecast period. The demand witnessed in emerging economies such as India and China has significantly contributed to growth recorded by the market in the last few years. In addition, China emerged as the largest exporter of low priced generic glyphosate herbicides, following the expiry of Monsanto’s patent over glyphosates outside the U.S. As per TMR about 90% of the glyphosate product in China is exported across various countries. 

Meanwhile, Europe held around 16.6% of the global glyphosate market based on volume in 2012. However, it is likely to lose its market share to Asia Pacific by 2019, exhibiting a relatively slower CAGR of 5.6% between 2013 and 2019.  The drop in the market share is projected be an outcome stringent regulations in Europe with regards to the adoption of genetically modified crops. Regulatory bodies in Europe follow stringent regulations on growing genetically modified crops as their eager adoption in the U.S. has led to the extensive usage of herbicides, thus causing the evolution of glyphosate resistant weeds. 

Some of the prominent players operating in the global glyphosate market are Dow AgroSciences LLC, Monsanto Company, E. I. du Pont de Nemours and Company, Nantong Jiangshan Agrochemical & Chemicals Co., Ltd., Syngenta AG., and Nufarm Ltd.

Growing demand from key end-use applications in glyphosate tolerant GM crops and conventional crops is expected to boost the global demand for glyphosate. The agriculture sector is witnessing rapid growth in Asia Pacific, Latin America and other regions, thus fuelling the demand for glyphosate. However, unfavorable factors such as emergence of glyphosate resistant weeds and stringent environmental regulations over use of agrochemicals, especially in Europe, are expected to hinder market growth. Development of innovative integrated weed management systems is expected to catch up in the near future owing to their eco friendly characteristics.
 
For the glyphosate research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. Secondary sources referred for this study include, but are not limited to; U.S. Department of Agriculture (USDA), Environment Protection Agency (EPA), FAO Stat, FOE Europe, Seedquest, Weed Science Society of America and The International Survey for Herbicide Resistant Weeds among others.
 
Glyphosate report gives a detailed description of the global glyphosate market based on volume share (kilo tons) and revenue (USD million) for the period 2013 to 2019. The glyphosate report includes only agricultural applications of glyphosate. All the volumes of glyphosate given in the report describe the tons or kilo tons of active ingredients and it does not include weight of carrier. The market numbers given in the report describe demand for glyphosate active ingredient and not production or sales. The report highlights the factors contributing towards the growth of the market and the restraints that impede the market. Detailed forecasts for the years 2013-2019 for glyphosate have been given separately, for better understanding of the market scenario. The glyphosate market is described with respect to their various segments along with the opportunities that are expected in the coming six years. 
 
For geographic analysis, the global glyphosate market has been segmented into regions such as North America, Europe, Asia Pacific, Latin America and Rest of the World (RoW) - The glyphosate market has been segmented based on the following applications – glyphosate resistant GM crops and conventional crops. The GM crops segment includes four main GM crops - soybean, corn, cotton, canola and other small volume GM crops. The glyphosate study also analyses market attractiveness for all segments of glyphosate with the help of the market attractiveness tool.
 
For a more comprehensive view of the market, a value chain analysis and Porter’s five forces model is provided to throw light on the specifics of the industry structure besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as Monsanto Company, Nufarm Ltd., Syngenta AG., Dow AgroSciences LLC, E. I. du Pont de Nemours and Company, Zhejiang Xinan Chemical Industrial Group Company, Ltd., Jiangsu Good Harvest-Weien Agrochemical Co., Ltd. and Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. among others. The detailed description of players includes parameters such as company overview, financial overview, business strategies and SWOT analysis and recent developments of the company. The company market share for the key companies has been derived on the basis of revenue generated by the companies for glyphosate products.
 
The report segments the global glyphosate market as:
  • Glyphosate Market: Application Segment Analysis,
    • Genetically Modified (GM) crops
    • Conventional Crops
  • Glyphosate Market: Regional Analysis,
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Rest of the World (RoW)


 
 
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