You are here

The Asia-Pacific glufosinate market is projected to grow at a CAGR of 7.1% from 2022 to 2029

Submitted by madhu on Tue, 09/26/2023 - 05:19

The provided analysis offers insights into the Asia-Pacific glufosinate market. Here's a summary of the key points:
Market Growth:
The Asia-Pacific glufosinate market is projected to grow at a CAGR of 7.1% from 2022 to 2029.
Key drivers for this growth include the rising demand for genetically modified (GM) crops, increasing use of L-glufosinate, and the shift towards bio-based solutions in agriculture.
Market Drivers:
• The demand for GM crops, which often require glufosinate for weed control, is contributing to the market's growth.
• The use of L-glufosinate is increasing due to its efficiency and reduced environmental impact.
• Farmers and consumers are increasingly inclined towards bio-based solutions in agriculture.
Market Challenges:
• The toxic effects of glufosinate on non-target plants and organisms are a concern for environmental and ecological impact.
• The high prices of glufosinate compared to other synthetic herbicides could challenge market growth.
Market Segmentation:
• The market is segmented by type (L-glufosinate and D-glufosinate), form (liquid and dry), formulation type (aqueous suspension, suspension concentrate, and soluble concentrate), crop application (oil seeds, pulses, cereals & grains, fruits, vegetables, horticulture, turn & ornaments), function (weed desiccation, control of active crystallization, foam management, drift control, reduced glutamine, and others), and distribution channel (direct and indirect).
Regional Analysis:
• China is expected to dominate the market due to its strong presence of manufacturers and extensive agricultural practices.
• The report covers various countries in the Asia-Pacific region, including Japan, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Vietnam, and New Zealand.
Competitive Landscape:
• Major players in the Asia-Pacific glufosinate market include Syngenta, BASF SE, UPL, Corteva, Merck KGaA, and others.
The competitive landscape provides details about company profiles, financials, market presence, production capacities, and product offerings.
This analysis provides valuable information for businesses operating in the glufosinate market, helping them understand market trends, growth opportunities, and competitive dynamics.