The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Growth Trajectory

The glufosinate market has experienced rapid expansion, poised to grow from $2.31 billion in 2023 to $2.55 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 10.4%.

Future Projections

The market’s momentum is expected to continue, reaching $3.64 billion by 2028, driven by a CAGR of 9.3%.

Impact of Genetically Modified Crops

Increasing demand for genetically modified crops is a significant driver:

• Glufosinate crucial for weed control in GM crops.
• Expansion of GM crop acreage fuels glufosinate demand.

Key Players

Major companies dominating the glufosinate market include:

• Bayer AG
• YongNong BioSciences Co. Ltd.
• United Phosphorus Ltd.
• DuPont de Nemours Inc.
• BASF SE

Read The Full Glufosinate Market Report Here:

https://www.thebusinessresearchcompany.com/report/glufosinate-global-market-report

Advanced Herbicides for Sustainable Agriculture

Companies are focusing on developing advanced herbicides for enhanced weed control:

• BASF launches L-Glufosinate 10% SL, a non-selective herbicide.
• Increased efficiency reduces crop protection application by up to 50%.

Strategic Acquisitions

Recent acquisitions underscore industry consolidation and expansion strategies:

• Mitsui Chemicals Agro acquires Meiji Seika Pharma’s agrochemicals business.
• Strengthens research and development capabilities in agrochemicals sector.
• Enhances portfolio with innovative products for sustainable agriculture.

Market Segmentation

The glufosinate market is segmented based on:

1. Crop Type (Genetically Modified Crops, Conventional Crops)
2. Formulation (Aqueous Suspension, Liquid, Suspension Concentrate, Soluble Concentrate, Others)
3. Application (Non-Agricultural, Agricultural, Oilseeds And Pulses, Grains And Cereals, Fruits And Vegetables, Others)

Regional Insights

• North America emerged as the largest region in 2023.

In conclusion, the glufosinate market presents significant growth opportunities, driven by increasing demand for GM crops, technological advancements, and strategic industry collaborations. Stakeholders must remain agile and innovative to capitalize on emerging trends and secure their position in this dynamic sector poised for continued expansion

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The Glufosinate Global Market Report 2024  provides an overview of the glufosinate market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The glufosinate market forecast analyzes glufosinate market size, glufosinate market share, leading competitor and their market positions.

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