Glyphosate is an organophosphorus compound that acts as an herbicide, used to kill weeds. A major factor driving growth of the global glyphosate market is the increasing adoption of glyphosate for genetically engineered crops. However, hazardous effects on individuals and environment is a factor restraining growth of the global market.
The global glyphosate market is segmented on the basis of crop type, form, application, and region. On the basis of crop type, the global market is segmented into genetically modified crops and conventional crops. The genetically modified crops segment is expected to register major revenue share in the global market over the forecast period.
On the basis of form, the global market is segmented into liquid and dry. The liquid segment accounts for highest share in terms of revenue and is expected to witness highest growth in the global market during the forecast period.
On the basis of application, the global market is segmented into agricultural and non-agricultural. The agricultural segment accounts for highest revenue share and is expected to register highest growth in terms of revenue in the global market in next 10 years.
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On the basis of region, the global glyphosate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for significant share in terms of revenue and is expected to witness highest growth in terms of revenue in the global market over the forecast period. The Latin America market is expected to register a significant growth in terms of revenue in the global market over the forecast period.
Key players operating in the global glyphosate market include Bayer AG, Nufarm Limited, BASF SE, DowDuPont, Syngenta AG, SinoHarvest, Valent U.S.A. Corporation, Sumitomo Chemical Australia Pty Ltd, Anhui Huaxing Chemical Industry Co., Ltd., and Jiangsu Good Harvest-Weien Agrochemical Co., Ltd.