Albany - NY, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Glyphosate, an organophosphorus compound, is a highly popular and extensively used non-selective herbicide. It is known to control both broadleaf grass as well as weeds that compete with the growth of field crops. Since the herbicidal properties of glyphosate were first uncovered in 1974, the use of the compound has significantly increased in the field of agriculture. In the coming years, the demand for glyphosate is projected to rise owing to the introduction of glyphosate-resistant genetically modified crops in the recent past.
A significant share of the overall glyphosate produced on a global front is consumed for application in genetically modified glyphosate resistant crops. The report states that the rising level of adoption of GM crops, especially in developing countries, is one of the major factors that will drive the global glyphosate market over the report’s forecast period. However, the presence of several regulatory mandates regarding the use of genetically modified crops will limit the overall growth of the market to a certain extent over the report’s forecast period.
The report segments the market on the basis of two criteria: application and geography. On the basis of application, the market has been segmented into genetically modified crops and conventional crops. Of these, the segment of genetically modified crops accounted for a 45.2% share in the global glyphosate market in 2012. Owing to the rising adoption of genetically modified varieties of crops such as soybean, rapeseed, maize, and cotton, the demand for glyphosate is expected to further rise in the future.
Research Report: http://www.transparencymarketresearch.com/glyphosate-market.html
On the basis of geography, the market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. Of these, the market is expected to expand at the fastest pace in Asia Pacific over the report’s forecast period. Rising awareness about genetically modified crops and the high use of glyphosate in agrarian economies such as China and India in Asia Pacific will be the prime driver of glyphosate market.
The report also presents a detailed overview of the competitive landscape of the global glyphosate market for genetically modified and conventional crops. The report includes detailed business profiles, SWOT analysis, and new project feasibility analysis of some of the key vendors in the market, and gives an analysis of recent developments and industry experts, with an overview of the potential future impact of the scenario on the market’s growth prospects.
Some of the key vendors profiled in the report are E. I. du Pont de Nemours and Company, Monsanto Company, Nufarm Ltd., Syngenta AG., Dow AgroSciences LLC, and Nantong Jiangshan Agrochemical & Chemicals Co., Ltd.
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
- Asia Pacific
- Latin America
- Rest of the World (RoW)
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Source:Transparency Market Research