Global Glyphosate Market to Reach US$10.6 Billion by 2030

The global market for Glyphosate estimated at US$8.2 Billion in the year 2024, is expected to reach US$10.6 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2024-2030. Conventional Crops, one of the segments analyzed in the report, is expected to record a 4.7% CAGR and reach US$7.9 Billion by the end of the analysis period. Growth in the Genetically Modified Crops segment is estimated at 3.7% CAGR over the analysis period.

Global Glyphosate Market - Key Trends and Drivers Summarized

Glyphosate is a widely used herbicide that targets a broad spectrum of weeds and grasses. It was first introduced by Monsanto in 1974 under the trade name Roundup and has since become one of the most commonly applied herbicides globally. Glyphosate works by inhibiting a specific enzyme pathway, the shikimic acid pathway, which is essential for plant growth. This mode of action makes it highly effective against a wide range of plant species while being non-toxic to humans and animals. Glyphosate is used in agricultural settings to enhance crop yields by controlling weeds, as well as in non-agricultural areas such as lawns, gardens, and industrial sites.

The use of glyphosate has revolutionized modern agriculture, contributing significantly to the efficiency of crop production. Farmers have adopted glyphosate-resistant genetically modified (GM) crops, which can withstand applications of the herbicide, allowing for more effective weed control without damaging the crops themselves. This has led to increased crop yields and reduced labor costs associated with manual weeding. However, the widespread use of glyphosate has also sparked controversy and debate, particularly concerning its environmental impact and potential health risks. While regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and the European Food Safety Authority (EFSA) have deemed glyphosate safe when used according to guidelines, some studies have raised concerns about its potential links to cancer and other health issues.

The growth in the glyphosate market is driven by several factors. Technological advancements in agriculture, including the development of glyphosate-resistant GM crops, have significantly boosted the demand for this herbicide. The rising global population and the subsequent need for increased food production also play a crucial role in market expansion, as farmers seek efficient and cost-effective solutions to maximize crop yields. Additionally, changes in farming practices, such as the adoption of no-till farming, which helps preserve soil structure and reduce erosion, have increased the reliance on herbicides like glyphosate for weed control. Consumer behavior trends, including the preference for sustainable and high-yield agricultural practices, further drive the market. Despite the controversies, the proven efficacy and cost benefits of glyphosate ensure its continued demand in the agricultural sector.