Ocean View, DE -- (SBWIRE) -- 07/01/2020 -- Surge in the demand for food coupled with the rising need for higher crop yield are some primary factors driving glyphosate market share over the forecast time period. Rising awareness pertaining to plant growth enhancers that will improve the overall farm output will encourage the growth of the industry.

With an escalating demand for both no-tillage as well as minimum tillage systems, it has been estimated that there will be a rise in the adoption of glyphosate in agriculture as well as non-agriculture sectors. Glyphosate has the ability to prevent the growth of weed which will trigger the yield and create new avenues of growth for the industry expansion.

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Funding and grants for the industry will help secure sustainable agriculture practices and promote the demand for glyphosate. Rise in the feeding of the crop among livestock and the increase in the application outlook in the production of bio-fuel will stimulate market growth. Isopropylamine happens to be the main raw material used for the production of glyphosate along with other key ingredients like diammonium, potassium, and monoammonium.

There has been a rising need to increase the yield of every hector in order to support the burgeoning food demand. Booming population has reportedly accelerated the production capacity of specific commodities like canola, oilseeds, soybean, and corn. Use of the product for the rise in the growth of these crops will create new and significant growth prospects for glyphosate suppliers.

There have been several developments in genetically modified crops that have triggered weed resistance properties which will significantly bolster glyphosate market forecast in the projected timeframe.

Furthermore, governments have taken several initiatives to raise the agricultural output which will further drive the total industry size. For example, the Indian Council of Agricultural Research (ICAR) has implemented a number of schemes like National Food Security Mission (NFSM) that would help increase the production of agriculture crops.

With the increasing demand for herbicides in order to control the growth of pests and aquatic weeds, glyphosate market share will witness considerable growth over the projected time period. The expansion of the industry will be mainly supported by the usage of glyphosate herbicide utilized while produceing conventional cereals like oats, rye, buckwheat, triticale, quinoa, barley, and several other millets.

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Conventional crops segment held more than 55% of the total glyphosate market size in the year 2015. The seed prices trend for high Genetically Modified (GM) in the prime reason that has supported and encouraged conventional farming in developing countries.

Surging use of advanced technologies for the development of different varieties of genetically created crops is expected to drive glyphosate consumption over the study period. Glyphosates are incorporated in the seeds of all the GMO crops for helping in the prevention of the growth of weed and retain the functionalities of the crops. Glyphosate market share from GMO application segment is estimated to gain substantial traction and experience a growth of more than 7.5% between 2016-2024.

Growth of research and development activities coupled with the partnership of engineering and genetic materials companies will encourage and open new avenues for industry expansion. Moreover, government policies have proven to be favorable for the business as they support the cultivation of GM crops, which anticipated to fuel glyphosate industry forecast.

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