Glufosinate Market Share, Size, Key Players, In-Depth Analysis and Forecast to 2028

IMARC Group, a leading market research company, has recently releases report titled “Glufosinate Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028″, The study provides a detailed analysis of the industry, including the global glufosinate market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the glufosinate market?

The global glufosinate market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

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Factors Affecting the Growth of the Glufosinate Industry:

• Rising Demand for Effective Weed Control Solutions:

One of the primary drivers of the glufosinate market is the increasing need for effective weed control solutions in agriculture. Weeds pose a significant threat to crop yields and quality, and with the growing global population, there is a heightened demand for efficient agricultural practices to ensure food security. Glufosinate, known for its broad-spectrum weed control efficacy, has emerged as a popular herbicide among farmers. Its ability to effectively manage a variety of weeds, including those resistant to other herbicides, has made it a valuable tool in crop management. This demand is particularly strong in the cultivation of oilseeds and pulses, where weed control is crucial for crop health and yield.

• Adoption of Genetically Modified (GM) Crops:

The adoption of GM crops that are tolerant to glufosinate is another significant factor fueling the market’s growth. These crops allow for the direct application of glufosinate without harming the crop, providing an effective and efficient means of weed control. As the adoption of GM crops continues to grow globally, particularly in North America and parts of Asia, the demand for compatible herbicides like glufosinate increases. This trend is reinforced by the development of new GM crop varieties and the expansion of acreage under GM cultivation, which necessitates the use of herbicides that are effective yet safe for modified crops.

• Regulatory and Environmental Considerations:

In the glufosinate market, regulatory policies and environmental concerns play a crucial role. Governments worldwide scrutinize and regulate the use of agricultural chemicals like glufosinate to ensure they do not pose significant risks to human health or the environment. This regulatory oversight often involves rigorous testing and approval processes, restrictions on usage, and periodic reviews. Environmental concerns, such as the potential impact on non-target species, soil health, and water resources, also influence these regulations. As awareness of ecological sustainability grows, there’s an increasing demand for herbicides that are effective yet have a minimal environmental footprint, leading to stricter regulatory standards and a push for more sustainable agricultural practices.

Glufosinate Market Report Segmentation:

Breakup By Crop Type:

• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others

Oilseeds and pulses represent the largest crop type segment in the market, as glufosinate is extensively used in these crops for effective weed control, which is essential for ensuring high yield and quality of produce.

Breakup By Formulation Type:

• Aqueous Suspension
• Liquid
• Suspension Concentrate
• Soluble (Liquid) Concentrate
• Others

The soluble (liquid) concentrate formulation is the largest formulation type segment in the market due to its ease of application, efficient absorption by plants, and effectiveness in weed control, thus making it a preferred choice among farmers.

Breakup By Application:

• Herbicides
• Fungicides
• Desiccant
• Defoliant
• Others

Herbicides emerge as the largest application segment in the glufosinate market, as glufosinate is primarily used as a non-selective herbicide to control a broad spectrum of weeds in various agricultural and non-agricultural settings.

Breakup By Regional Insights:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

North America is the largest market by region for glufosinate, attributed to the widespread adoption of advanced agricultural practices, the presence of large-scale farming operations, and the increasing need for effective weed management solutions in this region.

Global Glufosinate Market Trends:

The increasing adoption of genetically modified (GM) crops, that are tolerant to glufosinate, allows for its effective use in weed control without harming the crop which represents one of the key factors driving the growth of the glufosinate market across the globe. This is particularly relevant as resistance to other herbicides grows. The market is also driven by the rising demand for sustainable and environmentally friendly herbicides. glufosinate is often perceived as a safer alternative to more controversial herbicides like glyphosate, which is driving its popularity among farmers and regulatory bodies.

There’s also a growing emphasis on integrated weed management practices, where glufosinate is used in combination with other methods to manage weed resistance more effectively. Moreover, advancements in formulation technology are leading to the development of more efficient and user-friendly glufosinate products. However, regulatory challenges and concerns over environmental impact continue to influence market dynamics, leading to stricter regulations in some regions.

Leading Companies Operating in the Global Glufosinate Industry:

• 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
• YongNong BioSciences CO. LTD

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