Glyphosate Market Worth 9.91 Billion USD by 2022
PUNE, India, February 17, 2017 /PRNewswire/ --
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.
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Browse 73 market data Tables and 55 Figures spread through 141 Pages and in-depth TOC on "Glyphosate Market"
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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.
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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.
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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.