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India Glyphosate Market Size to Exceed USD 190 Million By 2024

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According to the Graphical Research new growth forecast report titled “India Glyphosate Market Size, Industry Analysis Report, Country Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast 2018-2024”, estimated to exceed USD 190 million by 2024.

Growing awareness of plant growth enhancers for better yield and rising food demand from the surging population are key factors driving the market. In addition, the government has initiated grants and subsidies on agrochemicals and GM seeds which will foster business growth.

Reduction in tillage, improved grass and weed growth achieved by the utilization of glyphosate are features contributing towards product penetration. Furthermore, increasing demand for livestock feed and scope in biofuel production will augment growth in the market.

Glyphosate is mainly used in tea plantations, rice, wheat, maize and sunflower fields. The initiative by the government to promote the use of genetically modified and herbicide tolerant seeds is expected to assist the market growth over the coming years. Although, the stringent regulations on usage of agrochemicals on food crops due to health and environmental concerns may hamper the demand.

Conventional crops dominate the application segment and accounted for over 76% of the overall market. The prevalence of traditional farming practices coupled with high prices of GM seeds are factors influencing the trend. However, the measures undertaken by the government to modernize farming methods and promote the use of GM seeds will create a surge in market growth.

Major industry players operating in India glyphosate market include Monsanto India, Crop Life Science Ltd, ALPL Agrochemicals, Sikko Industries Ltd, Insecticides India Ltd, Aristo Biotech & Life Science Pvt Ltd and Aimco Pesticides Limited. Acquisition of regional manufacturers and establishment of strong distribution channels are the major strategies adopted by these players to gain a stronghold in the market.

Segments we cover:

India Glyphosate Market By Application

  • Conventional Crops
  • GM Crops

The above information is provided for the following country:

  • India