Glyphosate Market to Reach USD 13.31 Billion By 2027 | Reports and Data
The growing demand for high-value crops is a significant factor influencing the growth of the Glyphosate market.
New York, Dec. 14, 2020 (GLOBE NEWSWIRE) — The global glyphosate market size is forecast to reach USD 13.31 Billion by 2027, according to a new report by Reports and Data. The glyphosate market is observing high demand owing to increasing demand by the growing global population. The population is currently increasing at a rate of about 1.05 percent per year across the globe. Each year the current average population growth is projected to hit 81 million people. From 3 billion in 1959 to 6 billion in 1999, the world’s population has doubled. It is estimated that it will take another 40 years or so to expand by a further 50% to hit 9 billion by 2037. This trend implies an increasing worldwide market for food items. Food demand is projected to grow from 59.0 percent to 98.0 percent by 2050. One of the ways, this demand could be met by improving productivity by using herbicides to destroy weeds that hinder the growth of plants and crops.