Market Size of Glyphosate Industry
| Study Period | 2018 - 2029 |
| Market Size (2024) | USD 9.14 Billion |
| Market Size (2029) | USD 13.11 Billion |
| CAGR (2024 - 2029) | 7.49 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glyphosate Herbicide Market Analysis
The Glyphosate Market size is estimated at USD 9.14 billion in 2024, and is expected to reach USD 13.11 billion by 2029, growing at a CAGR of 7.49% during the forecast period (2024-2029).
- With the area under herbicide-tolerant crops increasing and more countries approving herbicide-tolerance technology for crops, the market is expected to grow inorganically with rapid farmer adoption. Product advantages over mechanical tillage systems, like low cost, less soil, and environmental degradation, support the glyphosate market expansion. Its concerns for the environmental hazards remain in developed markets, but the market is not expected to slow down on account of the lack of availability of efficient alternatives to glyphosate.
- Most of the benefits conveyed to vegetable growers relate to glyphosate's versatility and flexibility. Glyphosate is registered for nearly all vegetable crops and can be used in most circumstances. The majority of glyphosate use, in terms of total acres treated, occurs during late postemergence to the crop in field crops. North America and Asia-Pacific are lucrative markets for glyphosate. GM crop adoption, coupled with arable land availability, is expected to drive the Asia Pacific glyphosate market over the coming years.
- Glyphosate is currently approved for use in the European Union until 15 December 2022. This means it can be used as an active substance in PPPs until that date, and each product is authorized by national authorities with a safety evaluation. European Food Safety Authority (EFSA) stated that it required more time to reassess the pesticide, pushing it back to July 2023.
- In 2022, The Indian government restricted the use of chemical glyphosate in India, fearing risks to human and animal health. However, the government allowed its use only through pest control operators (PCOs). PCOs are licensed to use deadly chemicals for treating pests such as rodents. Glyphosate and its formulations are widely registered and are currently used in over 160 countries, including the European Union and the United States.
