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The global glufosinate market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Glufosinate, also known as ammonium salt, is a naturally occurring broad-spectrum herbicide produced using different species of Streptomyces soil bacteria. It acts as a unique, simple, and effective weed control solution for a variety of crops. As a result, it is applied to young plants during their early development stage for full effectiveness. Nowadays, researchers are focusing on developing new glufosinate-resistant crops that enable a substantial increase in yields and offer significant agricultural advantages.
The use of genetically modified crops offers various benefits, which include high crop yields, reduced costs, enhanced output, nutritious food and offering a safe environment. Additionally, the escalating demand for genetically modified crops on account of the rising consumption of food and increasing shortage of food around the world represents one of the major factors bolstering the growth of the market. Moreover, due to the growing concerns among farmers about fungal infection, glufosinate-ammonium is gaining traction as a fungicide for cereal crops, vegetables, and fruits. Apart from this, glufosinate-ammonium is used on non-crop areas, such as golf course turf and spot treatments on residential lawns. This, along with the increasing number of individuals participating in golf and the emerging trend of home gardening on account of rapid urbanization and inflating income levels, is also influencing the market positively. Furthermore, governing agencies of numerous countries are implementing various regulatory reforms to make it easier for farmers to manage pest outbreaks and get quality seeds and access credit to invest in production. This, in confluence with the growing adoption of sustainable farming practices, is expected to create a favorable market outlook in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global glufosinate market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on crop type, formulation type and application.
Breakup by Crop Type:
Breakup by Formulation Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, DuPont de Nemours Inc., Hebei Veyong Bio-Chemical Co. Ltd (Limin Group Co. Ltd.), Jiangsu Sevencontinent Green Chemical Company Limited, LIER Chemical Co. Ltd., Nufarm, SinoHarvest, UPL Limited and YongNong BioSciences CO. LTD.
|Base Year of the Analysis||2020|
|Segment Coverage||Crop Type, Formulation Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||BASF SE, DuPont de Nemours Inc., Hebei Veyong Bio-Chemical Co. Ltd (Limin Group Co. Ltd.), Jiangsu Sevencontinent Green Chemical Company Limited, LIER Chemical Co. Ltd., Nufarm, SinoHarvest, UPL Limited and YongNong BioSciences CO. LTD.|
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We expect the global glufosinate market to exhibit a CAGR of around 8% during 2021-2026.
The escalating demand for genetically modified crops, the growing use of glufosinate-ammonium on non-crop areas, and the rising adoption of sustainable farming practices, represent some of the factors catalyzing the global glufosinate market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary slowdown of numerous operation units and delay in R&D activities pertaining to glufosinate.
Based on the crop type, the global glufosinate market can be segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. Currently, oilseeds and pulses hold the majority of the total market share.
Based on the formulation type, the global glufosinate market has been divided into aqueous suspension, liquid, suspension concentrate, soluble (liquid) concentrate, and others, where soluble (liquid) concentrate currently exhibits a clear dominance in the market.
Based on the application, the global glufosinate market can be categorized into herbicides, fungicides, desiccant, defoliant, and others. Among these, herbicides currently account for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global glufosinate market include BASF SE, DuPont de Nemours Inc., Hebei Veyong Bio-Chemical Co. Ltd (Limin Group Co. Ltd.), Jiangsu Sevencontinent Green Chemical Company Limited, LIER Chemical Co. Ltd., Nufarm, SinoHarvest, UPL Limited, and YongNong BioSciences CO. LTD.
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