Glufosinate Market Size

Introduction:

The global agricultural landscape is changing and the need for efficient and sustainable solutions to increase yield and protect against pests and weeds is increasing. Amidst this evolving scenario, glufosinate, a broad-spectrum herbicide, has become an essential tool for farmers worldwide. Glufosinate, known for its effectiveness in controlling many weeds and relatively lower environmental impact compared to other herbicides, is gaining ground in the agrochemical market.

Glufosinate Market Size

Size, by Product, - (USD Billion)

95%TC

50%TK

Other Products

The Market will Grow

At the CAGR of:

8.68%

The Forecast Market

Size for in USD:

$4.63 Billion

Global Glufosinate Market Size Was Estimated At USD 2.18 Billion In 2023 And Is Projected To Reach USD 4.63 Billion By 2032, At CAGR Of 8.68 (2024-2032)

In this blog, we delve into the glufosinate market and examine its current trends, growth drivers and central role in modern agriculture. We examine factors driving glufosinate demand, such as the proliferation of genetically modified crops, regulatory changes and advances in agricultural practices. In addition, we analyze the market's competitive landscape, key players and future prospects, providing a comprehensive overview of this dynamic industry. Whether you are an industry expert, a farmer, or simply interested in the future of agricultural innovation, this blog provides valuable insight into the glufosinate market and its importance in the search for sustainable agricultural solutions.

Market Overview: 

In the global agrochemical industry, the glufosinate market is an important segment that focuses on the production, distribution and application of ammonium glufosinate herbicides. In agriculture, glufosinate is a common broad-spectrum, non-selective herbicide used to control many weeds, including glyphosate and other herbicide-resistant weeds. This herbicide works by inhibiting the enzyme glutamine synthetase, which causes toxic amounts of ammonia to build up in plant tissues and eventually kills the plant. The Glyfosinate market is primarily driven by growing concerns about herbicide resistance and the resulting need for effective weed control solutions. Growers and other agricultural professionals are looking to glufosinate as a potential replacement to maintain yield and quality when weeds become resistant to widely used herbicides such as glyphosate. This change is particularly visible in areas where GM crops are widely grown. these plants are tolerant to glufosinate, which allows them to be used without endangering crops.

Market Trends:

• Rising Adoption of Genetically Modified Crops
• Shift Towards Sustainable Agriculture
• Technological Advancements in Application Methods
• Regulatory Support and Approvals
• Expansion in Emerging Markets
• Competitive Landscape and Strategic Collaborations
• Increasing Awareness and Training Programs

Porte’s Analysis:

Threat of New Entrants:

Barriers to Entry: High barriers due to high R&D costs, regulatory approvals and established brand loyalty.

Economies of scale: incumbent players benefit from economies of scale, making it difficult for new entrants to compete on price and distribution.

Bargaining power of suppliers:

Concentration of suppliers: A limited number of suppliers of key raw materials can increase their bargaining power.

Switching costs: High switching costs due to the specific characteristics of raw materials used in the production of glyphosinate can increase supplier power.

Bargaining Power of Buyers:

Buyer Information: Increasing availability of information allows buyers to demand better quality and lower prices.

Product differentiation: Small differences between herbicides can give buyers more leverage in price negotiations.

Risk of Substitutes:

Alternative Products: The availability of other herbicides (eg, glyphosate and organic weed control methods) is a moderate risk.

Performance and price: Substitute products can offer similar performance at a lower price, making them more attractive.

Industry Competition:

Intensity of Competition: Strong competition among established agrochemical companies leading to aggressive marketing and pricing strategies.

Market Growth: Slower market growth can increase competition as companies compete for market share.

Glufosinate Market Size

Share, by end user, (USD Billion)

2.18 Billion %

Herbicide

Insecticides and fungicides

GM crops

Desiccant

Other End-Users

4.63 Billion

Total Market Size

USD (Billion),

8.68%

CAGR

-

Market Drivers:

• Growing Demand for High Crop Yields
• Increased Prevalence of Herbicide-Resistant Weeds
• Expansion of Genetically Modified Crops
• Environmental and Regulatory Pressures
• Technological Advancements in Agriculture
• Government Support and Subsidies
• Rising Awareness and Farmer Education
• Expansion in Emerging Markets
• Strategic Collaborations and Partnerships

Key Players:

• Bayer AG
• BASF SE
• Syngenta Group
• Corteva Agriscience
• UPL Limited
• ADAMA Ltd.
• Nufarm Limited
• Sumitomo Chemical Co., Ltd.
• Dow AgroSciences LLC
• FMC Corporation

Recent Development:

• 3 June 2024 RiceTec, dedicated to leading innovation for sustainable rice agriculture, and its Indian affiliate Savannah Seeds is proud to introduce the FullPage® Rice Cropping Solution to the Indian market in collaboration with ADAMA, a leading global crop protection company.

• 8 May 2024 UPL Ltd on Monday announced a dividend of Rs 10 per equity share on equity shares of face value of Rs 2 each i.e., a 500 per cent payout to its shareholders. "We would like to further inform you that the Board has recommended a dividend

Market Restraining Factors:

High cost of glyphosinate: The relatively high cost of glyphosinate compared to other herbicides may limit its use, especially among small farmers.

Potential Health and Environmental Concerns: Although the potential health and environmental effects of glufosinate are considered less harmful than some alternatives, concerns about the potential health and environmental effects of glufosinate may limit the growth of this market.

Development of weed resistance: Continued and extensive use of glyphosinate can lead to the development of weed resistance, reducing its long-term effectiveness.

Stringent regulatory frameworks: Stringent regulations and lengthy herbicide approval processes in different countries can hinder the introduction and use of glufosinate in new markets.

Availability of alternative herbicides: The availability of other effective and often less expensive herbicides may inhibit glufosinate market growth.

Lack of awareness and education: Inadequate awareness and education among farmers about the correct use and benefits of glufosinate may limit its use.

Glufosinate Market Size

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

8.68%

The Forecast Market

Size for in USD:

$4.63 Billion

Market Opportunities:

Expansion into emerging markets: Increasing agricultural activity and modernization of agricultural practices in regions such as Asia Pacific and Latin America provide significant growth opportunities for the glufosinate market.

Growing trends in organic farming: The shift to organic and sustainable farming practices may increase demand for herbicides such as glufosinate, which are considered safer for the environment.

Development of new crop varieties: Advances in biotechnology leading to the development of new glufosinate-resistant crop varieties may expand the market for this herbicide.

Innovations in application technologies: Technological advances in precision agriculture and intelligent spray systems can improve the efficacy and uptake of glufosinate, creating new market opportunities.

Expanding Integrated Weed Management (IWM) Practices: Increasing acceptance of integrated weed management practices that combine multiple weed control methods may encourage the use of glufosinate as a key component.

Supportive Government Policies and Incentives: Government initiatives and subsidies aimed at promoting sustainable agriculture and reducing the use of more harmful herbicides can support glufosinate market growth. 

Key Market Insights:

Market Segmentation:

By Type

• 95%TC
• 50%TK

By Application

• Herbicide
• Insecticides and fungicides
• GM crops
• Desiccant

By Geography

• North America
• Europe
• Asia Pacific
• Middle East & Africa

• Latin America

  Glufosinate Market Size TO (USD BN)

  

  CAGR OF

  8.68%

  Glufosinate Market Size

  

  4.63 Billion%

Stakeholders For Market: 

• Farmers and Agricultural Producers
• Agrochemical Companies
• Biotechnology Firms
• Regulatory Bodies and Government Agencies
• Research and Development Institutions
• Environmental and Health Advocacy Groups
• Agricultural Extension Services
• Retailers and Distributors
• Consumers
• Financial Institutions and Investors

FAQ (Frequently Asked Questions):

Q.1 How big is the Glufosinate Market?

Ans: - Glufosinate Market Size Was Estimated At USD 2.18 Billion In 2023 And Is Projected To Reach USD 4.63 Billion By 2032, At CAGR Of 8.68.

Q.2 Who are the major players in the Glufosinate Market?

Ans: - Bayer AG, BASF SE, Syngenta Group, Corteva Agriscience, UPL Limited, ADAMA Ltd., Nufarm Limited, Sumitomo Chemical Co., Ltd., Dow AgroSciences LLC, FMC Corporation.

Q.3 Which segments are covered in the report of Glufosinate Market?

Ans: - The Glufosinate Market is Segmented On The Basis Of Type, Application, And Geography.

Q.4 Which regions are covered in the report that having a potential scope for the Glufosinate Market?

Ans: - On the basis of Geography, The Glufosinate Market is classified into North America, Europe, Asia Pacific, and the Rest of the world.