The Asia-Pacific glyphosate market is expected to grow significantly in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.1% in the forecast period of 2022 to 2029 and is expected to reach USD 19,234.45 million by 2029. The major factor driving the growth of the glyphosate market is the rise in the agricultural sector, rising adoption of integrated weed management, growing commercialization of high-value crops, and increase in the agricultural and non-agricultural applications of glyphosate.

The increase in the agricultural and non-agricultural applications of glyphosate across the globe is one of the major factors driving the growth of the glyphosate market. The use of glyphosate to kill weeds such as chickweed, barnyard grass, dandelion, and other weeds and the increase in the replacement of mechanical weed control in many crops accelerate the market growth. The rise in the approval of herbicide-tolerance technology for crops to grow inorganically with rapid farmer adoption, and product advantages over mechanical tillage systems, such as low cost, less soil, and environmental degradation, influence the market. Additionally, a rise in demand for enhanced quality crops and the expansion of the agriculture sector positively affect the glyphosate market.

· Rise in the approval of herbicide-tolerance technology

Glyphosates are pesticides that protect against and control fungi and spore diseases. Glyphosates can control specific fungal diseases as well as those from multiple sources. Herbicide-tolerant crop hybrids are genetically modified to withstand non-selective herbicides, such as glyphosate. In order to develop tolerance to glyphosate, many research and development efforts focus on evaluating glyphosate, the most effective herbicide that can control all plants despite species. Several companies continuously conduct extensive research and launch new products in the market.

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Restraints/Challenges

· Emergence of glyphosate resistant weeds

Glyphosate resistance first appeared in Lolium rigidum in an apple orchard in Australia in 1996, and the same year, the first glyphosate-resistant crop (soybean) was introduced in the U.S. There are more than thirty weed species have now evolved resistance to glyphosate, which are distributed across 37 countries and in 34 different crops and six non-crop situations. Moreover, glyphosate-resistant weeds have been identified in orchards, vineyards, plantations, cereals, and fallow and non-crop situations. Glyphosate-resistant weeds present the greatest threat to sustained weed control in major agronomic crops because this herbicide is used to control weeds with resistance to herbicides with other sites of action, and no new herbicide sites of action have been introduced for a very long time. However, the industry is responding by developing herbicide-resistance traits in major crops that allow existing herbicides to be used in a new way. But, over-reliance on these traits results in multiple-resistance in weeds.

· Stringent government regulation regarding glyphosate

The enactment of stringent regulations, especially in the Asia-Pacific region, is expected to limit the expansion of the Asia-Pacific glyphosate market. Regulatory bodies in Asia-Pacific countries follow stringent regulations on growing genetically modified crops. Their eager adoption has led to extensive usage of herbicides, thus causing the evolution of glyphosate-resistant weeds. Therefore, one factor limiting the industry is the rigorous laws regulating the use of glyphosate due to several environmental and health concerns. Overexposure to glyphosate can result in cancer and related health problems.

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Competitive Landscape and Asia-Pacific Glyphosate Market Share Analysis

Asia-Pacific glyphosate market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies focus on the Asia-Pacific glyphosate market.

Some of the prominent participants operating in the Asia-Pacific glyphosate market are SinoHarvest, Syngenta, AgroStar, Novus Biologicals, Bayer AG, Nufarm, UPL, ADAMA, OCI COMPANY Ltd., Excel Crop Care Ltd., Merck KGaA, BASF SE.

MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
 

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