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The Latin America crop protection chemicals market size is forecast to increase by USD 6.41 billion at a CAGR of 5% between 2023 and 2028. In Latin America, the crop protection chemicals market is driven by the need to enhance crop production systems in response to rising food demand and the pursuit of higher agricultural productivity. Crop yields are a significant concern for farmers in the region, leading to an increase in the use of herbicides, and agrochemicals, and the implementation of integrated pest management (IPM) as a new method of crop protection. Additionally, there is a growing trend towards sustainable agricultural practices, including the use of micronutrients and precision farming techniques, to minimize the environmental impact of chemical use. Organic farming is also gaining popularity as a substitute for traditional crop protection methods. These trends are expected to drive market growth in the coming years.
The market plays a crucial role in safeguarding agricultural productivity against various pests and climatic conditions. The region's agricultural sector faces numerous challenges, including pest infestations from insects, fungi, and weeds, which can significantly impact crop yields and food security. Herbicides, insecticides, and fungicides are essential components of the Crop Protection Chemicals market, as they help mitigate the negative effects of pests on crops. Climate change and monoculture farming practices have led to an increased incidence of pest resistance, necessitating the development and adoption of advanced crop protection products.
Furthermore, the market in Latin America is expected to grow due to the rising food demand and the need to maintain agricultural yield. Fungal diseases, such as late blight and rust, pose significant threats to crops like potatoes and coffee, respectively. Chemical usage in agriculture is essential to combat these diseases and ensure healthy crops. Integrated Pest Management (IPM) practices have gained popularity in recent years as a sustainable solution to pest control. IPM combines the use of chemical pesticides with other methods, such as biologicals, micronutrients, and precision farming techniques, to minimize the reliance on chemicals and reduce the risk of resistance.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The Herbicides segment is estimated to witness significant growth during the forecast period. Crop protection chemicals, including herbicides, insecticides, and fungicides, play a crucial role in mitigating pest infestations and enhancing agricultural productivity in Latin America. Herbicides, specifically, are categorized based on the type of herb they target. Both synthetic and bio-based herbicides are utilized in this segment. The herbicide market in Latin America is experiencing significant growth, particularly in developing countries such as Brazil, Argentina, and Chile. This expansion can be attributed to the increasing demand for agricultural productivity and the maturity of the global herbicides industry, as indicated by the clear segmentation of end-user industries and product groups and the relatively stable nature of products and brands.
Furthermore, Brazil is currently experiencing the fastest growth rate among developing countries in Latin America, with Argentina, Chile, and Uruguay following closely behind. The agriculture sector is the primary driver of the herbicides market in Latin America, as farmers rely on these chemicals to protect their crops from various pests and diseases. In summary, the herbicides segment is poised for substantial growth in Latin America, with Brazil leading the charge. The maturity of the global herbicides industry, coupled with the agriculture sector's increasing demand for crop protection, underpins this market trend.
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The herbicides segment was valued at USD 10.01 billion in 2018 and showed a gradual increase during the forecast period.
Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing use of herbicides is the key driver of the market. In Latin America, the crop protection chemicals market encompasses a wide range of products and applications, including synthetic chemicals and biologically sourced solutions for seed treatment and post-harvest management. The market's growth is influenced by various factors, such as the region's diverse climatic conditions and the development of pest resistance in crops. Herbicides, a significant segment of this market, are used extensively in the cultivation of various crops, including cereals, grains, fruits, vegetables, oilseeds, and pulses. The increasing consumer preference for healthier food options, driven by heightened awareness of health and fitness, fuels the demand for effective and eco-friendly herbicides.
However, concerns over the use of harmful chemicals in agriculture persist, leading to ongoing debates regarding their ban and the adoption of alternative pest control methods. Despite these concerns, the affordability of some herbicides compared to their substitute products keeps them in demand.
Implementation of integrated pest management (IPM) as new method of crop protection is the upcoming trend in the market. In the agricultural sector, pest control represents approximately 35% of a farmer's production expenses, with pests causing losses ranging from 11% to 32%. Traditional synthetic pesticides have long been a primary solution for managing pests. However, concerns regarding pest resistance and environmental and health implications have resulted in a shift towards alternative methods. Integrated Pest Management (IPM) is an effective strategy for managing pests in agriculture. This approach combines various control methods, including inspection, monitoring, reporting, and the judicious application of pesticides. By creating an inhospitable environment for pests through systemic resistance and proper operational design, IPM minimizes the need for pesticide use.
Furthermore, biologicals, biopesticides, and bio-based alternatives derived from natural sources are increasingly popular in the crop protection market. Biotechnology plays a crucial role in the development of these alternatives, offering sustainable and eco-friendly solutions. The adoption of these alternatives is driven by the need to reduce the environmental impact of agriculture and improve overall sustainability. In conclusion, the market is witnessing significant growth due to the increasing demand for sustainable and eco-friendly alternatives to synthetic pesticides. IPM, biologicals, biopesticides, and bio-based alternatives derived from natural sources are key trends shaping the market. By integrating multiple control methods and utilizing natural sources, farmers can effectively manage pests while minimizing the use of synthetic chemicals.
Organic farming as substitute is a key challenge affecting the market growth. Organic farming, a method of crop and livestock production without the use of synthetic pesticides, fertilizers, antibiotics, and genetically modified organisms, is gaining popularity due to its focus on sustainable and eco-friendly agricultural practices. This approach to farming promotes crop rotation, cover crops, and balanced relationships between host and predator. Organic farming also highlights the recycling of nutrients and organic residues back into the soil, with crops and composted manure used to maintain soil fertility. The permitted substances list for organic farming approves certain natural substances for use as pesticides. Research indicates that organic crops and crop-based foods contain higher levels of antioxidants, such as polyphenolics, compared to conventionally grown crops, with concentrations ranging from 19% to 68%.
Furthermore, as food demand continues to increase and agricultural productivity becomes a priority, precision farming techniques are being adopted to enhance crop yields while minimizing environmental impact. The implementation of sustainable agricultural practices, including organic farming, is crucial to meeting future food needs while preserving the health of our planet.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BASF SE: The company offers crop protection chemicals such as herbicide solutions, xemium and F 500.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Crop protection chemicals play a crucial role in safeguarding agricultural productivity in Latin America against pest infestations. These protective agents, which include herbicides, insecticides, and fungicides, help farmers combat weeds, insects, and fungal diseases that threaten crop yields. Climate change poses additional challenges, as it alters agricultural conditions and increases the risk of pest infestations. The pesticide market in Latin America is driven by the need to maintain food security and mitigate crop losses. Monoculture farming practices, which rely heavily on chemical usage, have led to concerns over pesticide resistance and the potential for negative environmental impacts. Organophosphates and dithiocarbamates are among the synthetic chemicals commonly used in crop protection.
Furthermore, integrated pest management (IPM) practices, which combine chemical and biological methods, are gaining popularity as a more sustainable approach to pest control. Seed treatment and post-harvest management are also critical components of crop protection. Precision farming and sustainable agricultural practices, which incorporate micronutrients, biologicals, biopesticides, and bio-based alternatives, are becoming increasingly important in the region. The agricultural modernization movement is leveraging glyphosate-resistant crops alongside targeted pesticide use, such as cypermethrin, atrazine, malathion, and mancozeb, to enhance crop yield and ensure sustainable farming practices. Crop production systems, influenced by climatic conditions and pest resistance, require ongoing innovation and adaptation. Synthetic chemicals continue to play a role in crop protection, but there is growing interest in natural sources, biotechnology, and biologically sourced products as alternatives. Food demand and agricultural productivity remain key drivers of the market, with crop yields a critical focus for agricultural producers.
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Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
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Market Growth 2024-2028 |
USD 6.41 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.7 |
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Key companies profiled |
Albaugh LLC, Atticus LLC, BASF SE, Bayer AG, Bioceres Crop Solutions Corp., China National Chemical Corp., DuPont de Nemours Inc., FMC Corp., Gowan Co., HELM AG, Novozymes AS, Nufarm Ltd., Nutrien Ag Solutions Inc., Ourofino Agrociencia, SINON CORP., Sipcam Oxon Spa, Sumitomo Chemical Co. Ltd., Syngenta Crop Protection AG, Tide Group, and UPL Ltd. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Crop Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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