Glufosinate Market Share

Glufosinate market is projected to reach $2,097.7 million by 2026, growing at a CAGR of 19.0% from 2019 to 2026

WILMINGTON, DELAWARE , UNITED STATES, January 19, 2024 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Glufosinate Market by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and Formulation Type (Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026".

Glufosinate Market Growth Statistics:

According to the report, the global glufosinate industry was pegged at $544.8 billion in 2018 and is projected to reach $2.09 billion by 2026, registering a CAGR of 19.0% from 2019 to 2026.

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Major market players:

Bayer AG

Zhejiang Yongnong Chem. Ind. Co., Ltd.

Limin Chemical Co., Ltd.

UPL Limited

Jiangsu Seven Continents Green Chemical Co., Ltd.

Lier Chemical Co., Ltd.

DuPont de Nemours, Inc.

Nufarm limited

BASF SE

Prime determinants for growing market

Substitute to glyphosate and paraquat and development of genetically modified glufosinate-tolerant crops have boosted the growth of the global glufosinate market. However, the toxicity in flora & fauna hampers the market growth. On the contrary, rising demand from both developed and emerging economies is expected to create lucrative opportunities in the near future.

Oilseeds & pulses segment dominated the market

The oilseed & pulses segment held the largest share in 2018, contributing to around one-fourth of the global glufosinate market. There is significant rise in the commercialization of this type of crop as they are treated as cash-generating crops, which has boosted the growth of the market. However, the cereals & grains segment is expected to register the fastest CAGR of 19.2% during the forecast period, owing to rising commercialization in the genetically modified cereals & grains.

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Aqueous suspension segment to manifest the fastest CAGR by 2026

The aqueous suspension segment is projected to register the fastest CAGR of 20.7% during the forecast period, as the aqueous suspension has advantages such as low cost, easy to manufacture, compatible with HDPE packaging. However, the soluble (liquid) concentrate segment held the largest share in 2018, contributing more than half of the global glufosinate market, owing to advantages such as dust absence, easy usage, and its effectiveness.

North America held the largest share

The global glufosinate market across North America held the largest share in 2018, accounting for more than two-fifths of the market, owing to a strong presence of genetically modified glufosinate tolerant crops and the advantages that these glufosinate herbicides have over its predecessors coupled with huge consumer base and the presence of key players in the region. However, the market across the Asia-Pacific region is projected to register the fastest CAGR of 20.3% during the forecast period, owing to rising end users in developing countries such as China, and India.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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