World Glufosinate Market Size, Share, Trends, Growth and Forecast 2022 – Acute Market Reports
Glufosinate is a naturally occurring herbicide isolated from two species of Streptomyces fungi. It is widely used as a substitute of glyphosate and paraquat and to control a wide range of weeds such as morning glories, hemp sesbania (Sesbania bispinosa), Pennsylvania smartweed (Polygonum Pensylvanicum), and others. Its usage as a crop desiccator facilitates harvesting. Rising concern toward wide usage of agrochemicals in various crops has led to a shift toward bio-based solutions, which is expected to boost growth of the glufosinate market.
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Major factors expected to drive the demand for glufosinate in the future are its broad weed spectrum and high efficacy. However, glufosinate herbicides cause toxicity in animals and flora & fauna, which may hamper the market growth. Use of glufosinate is considerably safe on crop plants when compared to other herbicides, and it can be used in combination with other herbicides, which makes it a lucrative option for both manufacturers and farmers.
The glufosinate market is segmented on the basis of crop type, which includes cereals & grains, oilseeds & pulses, fruits & vegetables, and others. It is also segmented on the basis of formulation type such as aqueous suspension, liquid, suspension concentrate, soluble liquid concentrate, and others. Geographically, the market is divided into four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Presently, North America occupies a major share of the market, followed by Asia-Pacific and Europe.
North America possesses the maximum market potential for new entrants in the glufosinate market, owing to rising demand for bio-based agro solutions from agricultural sector, wide commercialization of genetically modified glufosinate tolerant crop, and increasing government regulations for reducing the drainage of harmful chemicals in the field.
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In the year 2015, cereals & grains was the fastest growing segment, with a CAGR of 19.4%, followed by oilseeds & pulses and other crop segment (including tea, coffee, cotton, forestry, tobacco, turf, and spices). Penetration of glufosinate is on a continuous rise in cereals & grains owing to its broad weed spectrum, high efficacy, and wide commercialization of genetically modified glufosinate-tolerant crops worldwide
Chapter: 1 INTRODUCTION
1.1 REPORT DESCRIPTION
1.2 KEY MARKET BENEFITS
1.3 KEY MARKET SEGMENTS
1.4 Research Methodology
1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models
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