The Latin America crop protection chemicals market is expected to exhibit a growth rate (CAGR) of 6.1% during 2023-2028.
Crop protection chemicals refer to the agricultural products that are mainly used to manage plant diseases and prevent crop damage. These chemicals primarily include herbicides, fungicides and insecticides. Crop protection chemicals aid in monitoring and controlling pests and diseases that may infect, consume, or damage crops. Furthermore, they also assist the farmers in managing crop productivity, improving overall yield, and enhancing food security. As a result, crop protection chemicals are utilized on various crop types, including cereals and grains, oilseeds and pulses, fruits and vegetables, etc.
In Latin America, a significant growth in the agriculture sector along with the expansion of farmland is currently propelling the market growth. Furthermore, the growing consumption of plant-based food items is also driving the need for crop protection chemicals to maximize agricultural yield and improve food security. Additionally, the elevating levels of urbanization and limited availability of arable land, particularly across Brazil and Argentina, are further augmenting the demand for crop protection chemicals. In line with this, several government bodies across Latin America are focusing on lowering the need to convert natural areas, such as forests, native prairies, wetlands, wildlife habitat into farmlands. This has resulted in the growing adoption of crop protection chemicals for producing high agricultural yield per acre. Additionally, the extensive R&D activities for the launch of innovative product variants that are highly selective in their action to minimize the impact on non-target organisms are also bolstering the regional market. In the coming years, the emergence of bio-based crop protection chemicals to reduce the negative environmental impact of synthetic alternatives will continue to drive the market growth in Latin America.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America crop protection chemicals market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on origin, product type, crop type, form and mode of application.
Breakup by Origin:
Breakup by Product Type:
Breakup by Crop Type:
Cereals and Grains
Oilseeds and Pulses
Fruits and Vegetables
Breakup by Mode ofApplication:
The competitive landscape of the industry 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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Key Questions Answered in This Report
We expect the Latin America crop protection chemicals market to exhibit a CAGR of 6.1% during 2023-2028.
The rising adoption of crop protection chemicals by farmers, as they assist in managing crop productivity, improving overall yield, enhancing food security, etc., is primarily driving the Latin America crop protection chemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Latin American nations, resulting in the temporary halt in numerous production activities for crop protection chemicals.
Based on the origin, the Latin America crop protection chemicals market can be segmented into synthetic and bio-based. Currently, synthetic holds the largest market share.
Based on the product type, the Latin America crop protection chemicals market has been divided into herbicide, fungicide, insecticide, and others. Among these, herbicide currently exhibits a clear dominance in the market.
Based on the crop type, the Latin America crop protection chemicals market can be categorized into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. Currently, cereals and grains account for the majority of the total market share.
Based on the form, the Latin America crop protection chemicals market has been segregated into liquid and solid, where liquid currently exhibits a clear dominance in the market.
Based on the mode of application, the Latin America crop protection chemicals market can be bifurcated into foliar spray, seed treatment, soil treatment, and others. Currently, foliar spray holds the largest market share.
On a regional level, the market has been classified into Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others, where Brazil currently dominates the Latin America crop protection chemicals market.
Some of the major players in the Latin America crop protection chemicals market include 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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