The global glyphosate market depicts the presence of a highly fragmented and competitive vendor landscape owing to innumerable players existing in the market, says Transparency Market Research on the basis of a newly published report. Many businesses in this market are looking forward to participate in crucial mergers & acquisitions, as well as collaborating with newer businesses to expand their presence. From a statistical perspective, the market is expected to gain a revenue valuation of US$8.79 bn by the end of 2019.
A majority of players in the global glyphosate market are highly focusing on research and developmental activities. Achieving extensive product development by expansion of product portfolio is prime scheme implemented by most players in the global glyphosate market. The competitiveness between individual players is expected to increase with new companies regularly entering this field in the upcoming years. Nantong Jiangshan Agrochemical & Chemicals Co., Ltd., Syngenta AG., Dow AgroSciences LLC, Monsanto Company, E. I. du Pont de Nemours and Company, and Nufarm Ltd., are key players operating in the global glyphosate market.
Being Highly Beneficial Makes Agriculturists Highly Prefer Glyphosate Herbicides
The global glyphosate market is growing with leaps and bounds mainly due a high preference existing for utilization of glyphosate in the form of an herbicide. This is mainly due to the substance being highly effective against weeds and other forms of invasive growth that can hamper the growth of desired crops and plants in an area. A surge in use of glyphosate for developing genetically modified crops, which has been occurring in recent times, has also been responsible for driving the global glyphosate market to achieve notable growth. In addition to these factors, the progress witnessed by agricultural industry since past few decades has made agriculturists use highly modified products such as glyphosate-based herbicides. Thus, such development in this field has ultimately caused the market to showcase extensive growth.
Shortage of Herbicide Manufacturing Systems in Emerging Countries Hampers Growth
However, a lack of adequate and necessary systems and equipment in remote and underdeveloped regions to manufacture the herbicides might exist. This is mainly making farmers and agriculturists rely on traditional methods, thus posing as a prime obstacle to the market. The market also is being restrained due to a shortage of trained staff and required manpower for setting up manufacturing the glyphosate herbicides systems in several underdeveloped regions, which are mainly situated in Asia Pacific, Africa, and Latin America. However, many companies are trying come up with cost effective solutions in terms of glyphosate products, which is expected to offset the restraints up to a certain extent.
Geography-wise, the global glyphosate market is spread across North America, Asia Pacific, Europe, Latin America, and Rest of the World. Of these, the market depicts maximum presence in Europe and North America. This is mainly due to the presence of a strong agricultural infrastructure, wherein glyphosate herbicides are used on a large-scale basis in these regions.