Global Glufosinate Market Study Analysis: Acceptance and Approval of Herbicide-Tolerant Genetically Modified Crops

The Global Glufosinate Market was valued at $ Billion in 2019 and is anticipated to grow at a CAGR of 14.7% from 2020 to 2028. Glufosinate is a natural broad-spectrum, non-selective herbicide isolated from various Streptomyces soil bacteria. Glufosinate is used to control all broad-leaved and grass weeds such as Pennsylvania smartweed, morning glories, and others. Glufosinate contains an active ingredient phosphinothricin, which leads to hinder glutamine synthetase, an enzyme necessary for the production of glutamine and ammonia detoxification. The phosphinothricin blocks glutamine production and elevates ammonia levels in tissue results in a halt in the photosynthesis process, which prevents the growth and ends up killing the unwanted plant. Glufosinate is a widely accepted herbicide used on all edible and non-edible crops such as almonds, apples, bananas, berries, canola, corn, cotton, grapes, potatoes, rice, soybean and tree nuts, and grasslands. Glufosinate can be combined with other herbicides to mitigate weed resistance making it more effective and safer on crop plants more effective and safer as compared to other herbicides.

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Global Glufosinate Market Drivers And Restrain:
The major factors that have impacted the growth of the glufosinate market are the growth of the agrochemical industry, and rising demand for glufosinate as a substitute resulting in extensive usage of glufosinate, among others.

Growth of agrochemical industry:
Agrochemicals are chemicals that are used in agriculture, to aid plants and crops' safety and growth. Agrochemicals safeguard crops from pests and undesirable crop yields resulting in improving crop’s health. Glufosinate effectively controls weed keeping the crops safe. It helps a farmer to produce better and more abundant harvests, manage to improve yields per acre thus maximizing productivity. The growing consumption due to the growing population and urbanization has increased pressure for farmlands to increase production along with reducing production costs. The innovations and increasing investments in the agrochemical industry are projected to propel the growth of the glufosinate market.

Rising demand for glufosinate as a substitute:
Glufosinate is considered an appropriate substitute for glyphosate and paraquat by farmers to protect and maintain crop yield. The glufosinate products offer a unique, simple, and effective weed control in several crops while preserving a balance between the needs of the environment, economy, and society. The advantage of the Glufosinate product over its alternative is its ability to controls weed without affecting the root system of the protected crops. The glufosinate enables a substantial upsurge in yields. The benefits of glufosinate over its substitutes and its extensive usage over the past few years are expected to drive the glufosinate market growth during the forecast period.
The market is hampered by its contain toxic effects and is banned in Europe.

Impact Of COVID-19 on the Glufosinate Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Glufosinate Market Segments:
The global Glufosinate market is further segmented into crop type, formulation type, application, and geography.

By Crop Type: Genetically Modified Crops and Conventional Crops
By Formulation Type: Aqueous Suspension, Liquid, Suspension Concentrate, Soluble Concentrate, and Others
By Application: Agricultural and Non-Agricultural

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

The larger consumer base and production facilities for glufosinate are expected to boost the glufosinate market in the North American region. The increasing awareness towards glufosinate products for agricultural and non-agricultural use is also expected to drive market growth during the forecast period. Asia-Pacific is anticipated to experience rapid growth, which is attributed to the rise in consumer base, and the presence of the largest producers of agricultural commodities in the region is expected to propel the glufosinate market growth.

Key Players of Global Glufosinate Market:
• Bayer AG
• Limin Chemical
• Jiangsu Seven Continents Green Chemical
• SinoHarvest Corporation
• UPL Limited
• Bayer CropScience
• Zhejiang YongNong
• Monsanto Company
• Lier Chemical
• Nufarm limited

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Glufosinate Market
• Value Chain Analysis of Global Glufosinate Market
• What is the CAGR of the global Glufosinate Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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