IMARC Group’s latest report, titled “Latin America Crop Protection Chemicals Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the Latin America crop protection chemicals market is anticipated to exhibit a CAGR of 6.1% during 2023-2028. Crop protection chemicals are agricultural products used mainly to manage plant diseases and prevent crop damage. These chemicals typically consist of herbicides, fungicides, pesticides, and insecticides. They aid in monitoring and controlling pests and diseases that can infect, consume, or damage crops. At present, there are hundreds of chemicals available in the market to protect crops from various types of damage caused by birds, insects, rodents, bacteria, and other factors. They help farmers manage crop productivity, improve overall yield, and enhance food security. As a result, crop protection chemicals find extensive applications in various crop types such as cereals and grains, oilseeds and pulses, and fruits and vegetables across Latin America.
Latin America Crop Protection Chemicals Market:
In Latin America, the rapid expansion in the agriculture sector represents the primary factor driving market growth. Moreover, the escalating demand for crop protection chemicals for maximizing agricultural yield due to rising food security concerns is positively influencing the market growth. Additionally, the limited availability of arable land and the increasing levels of urbanization, particularly in Brazil and Argentina, have augmented the product demand. Along with this, there has been a shift in focus of the government of Latin America on reducing the conversion of natural areas, such as forests, wetlands, and wildlife habitats, into farmlands. In line with this, the surging adoption of crop protection chemicals for achieving high agricultural yield per acre has catalyzed market growth. Furthermore, extensive R&D activities are being undertaken to launch innovative product variants that are highly selective in their action to reduce the impact on non-target organisms contributing to market growth. Besides this, the emergence of bio-based crop protection chemicals, which will help reduce the negative environmental effects of synthetic alternatives, has accelerated the product adoption rate. Other factors, including the rapid expansion of farmland, increasing consumption of plant-based food items, and rising population, are also anticipated to propel the market growth.
- Based on the origin, the market has been bifurcated into synthetic and biobased.
- On the basis of the product type, the market has been divided into herbicide, fungicide, insecticide, and others.
- The market has been categorized based on the crop type into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.
- Based on the form, the market has been segmented into liquid and solid.
- On the basis of the mode of application, the market has been classified into foliar spray, seed treatment, soil treatment, and others.
- Country-wise, the market has been segregated into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and Others.
- The competitive landscape of the market has also been examined, with some of the key players being Adama Ltd. (China National Chemical Corporation Limited), BASF SE, Bayer AG, Corteva, Inc., FMC Corporation, Marrone Bio Innovations, Inc., Novozymes A/S, Sumitomo Chemical Co. Ltd, Syngenta (China National Chemical Corporation Limited), and UPL Limited.
|Base Year of the Analysis
||Origin, Product Type, Crop Type, Form, Mode of Application, Country
||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
||Adama Ltd. (China National Chemical Corporation Limited), BASF SE, Bayer AG, Corteva, Inc., FMC Corporation, Marrone Bio Innovations, Inc., Novozymes A/S, Sumitomo Chemical Co. Ltd, Syngenta (China National Chemical Corporation Limited) and UPL Limited
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