Glufosinate Market to Grow with a CAGR of 5.64% Globally through 2029
Surge in research and development activities is expected to drive the Global
Glufosinate Market growth in the forecast period, 2025-2029.
According to TechSci Research report, “Glufosinate Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2019-2029F”, the Global Glufosinate Market stood at USD 2.34
billion in 2023 and is anticipated to grow with a CAGR of 5.64% in the forecast
period, 2024-2029. Initiatives taken by government based on glufosinate has led
to favorable market conditions for the Global Glufosinate Market. Several
factors contribute to the growth of various glufosinate products.
Government agencies frequently partner with
agricultural organizations and extension services to disseminate knowledge
among farmers regarding optimal herbicide practices. This collaborative
endeavor encompasses a comprehensive understanding of proper application
methodologies, strategies for managing weed resistance, and exploration of
alternative weed control approaches. The overarching objective of these
outreach initiatives is to foster the adoption of safe and sustainable herbicide
utilization practices, thereby mitigating adverse effects on both the
environment and human health.
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In the realm of agricultural innovation, ongoing
research endeavors are delving into the integration of nanotechnology to
pioneer groundbreaking nanoformulations of glufosinate. This cutting-edge
approach capitalizes on nanoencapsulation and nanoscale delivery systems to
bolster the herbicide's stability, solubility, and controlled release
properties. The anticipated outcome of these advancements is a potential
enhancement in the efficacy of glufosinate, translating to more efficient weed
control measures in agricultural settings. The adoption of such
nanoformulations holds the promise of mitigating the environmental footprint
associated with traditional herbicide application methods, thereby aligning
with sustainability objectives. By minimizing off-target effects, these novel
formulations represent a significant stride towards achieving precision and
eco-consciousness in modern agricultural practices. As researchers continue to
delve deeper into this field, the implications for optimizing crop yield, environmental
preservation, and agricultural sustainability are poised to reverberate across
the industry.
The Global Glufosinate Market is segmented into crop
type, application, form, regional distribution, and company.
Based on its form, the liquid segment held the largest
market share in the forecast period. By
harnessing liquid formulations, farmers can tailor herbicide blends with
unparalleled accuracy to address the unique weed challenges encountered in
different regions or crops. This level of customization allows for the
strategic deployment of herbicides that are precisely calibrated to target
specific weed species or growth stages, maximizing efficacy while minimizing
the risk of damage to desirable vegetation.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
Governments across the Asia-Pacific region are
actively rolling out policies and initiatives aimed at bolstering the
agriculture sector and fortifying food security measures. These encompass a
range of strategies, including the provision of subsidies for essential
agrochemicals, the facilitation of comprehensive training programs tailored for
farmers, and substantial investments directed towards upgrading agricultural
infrastructure. By fostering an environment of support, these measures are
instrumental in fostering the widespread adoption of modern farming
methodologies. They play a pivotal role in propelling the growth trajectory of
the glufosinate market.
Major companies operating in Global Glufosinate Market
are:
- Bayer AG
- DuPont de Nemours, Inc.
- Syngenta Crop Protection AG
- UPL LTD
- Nufarm Limited
- Jiangsu Huangma Agrochemicals
Co., Ltd
- BASF SE
- Hebei Veyong Bio-Chemical Co.
Ltd
- ZHEJIANG YONGNONG CHEM. IND.
CO., LTD
- Clariant AG
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“Adjuvants play a crucial role as essential components within herbicide formulations, amplifying their effectiveness and optimizing application outcomes. Recognizing the significance of adjuvants in herbicide performance, manufacturers are actively engaged in developing innovative formulations tailored specifically for use with glufosinate-based herbicides. Alongside advancements in adjuvant technology, manufacturers are strategically optimizing tank mixes by integrating complementary herbicides or additives. Through meticulous selection and blending of herbicide formulations, synergistic effects can be leveraged to achieve superior weed control outcomes while concurrently reducing the overall volume of herbicides needed for effective treatment.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Glufosinate Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Crop Type (Genetically Modified Crops, Conventional Crops), By Application (Agricultural, Non-Agricultural), By Form (Liquid, Dry), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Glufosinate Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Glufosinate Market.
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