According to the latest report by IMARC Group, titled “Latin America Crop Protection Chemicals Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the latin america crop protection chemicals market to grow at a CAGR of around 6% during 2021-2026.
Crop protection chemicals represent the agricultural products used to manage plant diseases and prevent crop damage. These chemicals mainly comprise of herbicides, fungicides, insecticides, etc. Crop protection chemicals help in controlling and monitoring pests and diseases that may infect, consume, or damage crops. Besides this, they also aid farmers in enhancing crop productivity, increasing overall yield, improving food security, etc. As a result, such chemicals are used on various crop types, including cereals and grains, oilseeds, pulses, fruits, vegetables, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Significant growth of the agricultural sector and the expansion of farmlands are primarily driving the market growth in Latin America. Moreover, the elevating levels of urbanization and limited area of arable land are augmenting the demand for crop protection chemicals. Owing to this, several government bodies across the region are focusing on minimizing the conversion of natural areas, such as forests and native prairies, into farmlands. This, along with the escalating consumption of plant-based food products, is resulting in the increasing adoption of these chemicals to maximize agricultural yield per acre. Additionally, extensive RD activities and the emergence of bio-based crop protection chemicals to reduce the adverse environmental impact of synthetic alternatives will continue to propel the market growth in Latin America over the forecasted period.
Breakup by Origin:
- Synthetic
- Bio-Based
Breakup by Product Type:
- Herbicide
- Fungicide
- Insecticide
- Others
Breakup by Crop Type:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
Breakup by Form:
- Liquid
- Solid
Breakup by Mode of Application:
- Foliar Spray
- Seed Treatment
- Soil Treatment
- Others
Breakup by Country:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
Competitive Landscape with Key Player:
- 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)
- UPL Limited
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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