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Latin America Crop Protection Chemical Market to cross USD 20 Billion by 2026: Actual Market Research
Nov, 10
2021

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Latin America Crop Protection Chemical Market to cross USD 20 Billion by 2026: Actual Market Research

 

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The recent addition of Actual Market Research, under the title of- Latin America Crop Protection Chemical Market Outlook, 2026, gives a brief of the market, segmented by product type, by application, and by country. The segmental analyses have been detailed in terms of products, and in terms of application. These segments are analyzed country-wise and the report also covers a detailed discussion about the trends, rules, and regulations across the region.

In the global crop protection chemical market, the Latin America region was the second largest contributor. In the year 2020, the region accounted for a share of little more than a quarter of the total market share. The Latin America crop protection chemical market grew with a historic growth rate of 5.74%. The regional market is highly sensitive to the exchange rate.

It is important to remember that the Latin America region is a major exporter of different agricultural products. Thus it becomes extremely important to know the residue limits of the importing countries. Major products that are exported include soybeans, corn, cotton, sugar, orange, coffee, bananas, ornamentals, cocoa, grapes, apples, and other fruits. The market for crop protection chemicals in Latin America is expected to cross a value of USD 20000 Million by the end of 2026.

The market is led by the herbicides segment which held more than 50% of the market share. The region has also incorporated genetically modified organisms, which are engineered to be resistant to pesticides. This has changed the agricultural model to be more dependent on the high use of chemicals. Also, the agricultural sector of the region has undergone considerable growth with an expansion of the agricultural land. Through the forecasted period, the segment of herbicides is expected to be the fastest-growing with the highest rate of 3.91%.

The smaller economies are likely the ones who are facing hurdles of political & economic instability, even though the region as a whole is enjoying considerable potential. The increased agricultural production in Brazil and Argentina is considered an important parameter to meet the burgeoning demand for food across the world. The region has a high dominance of Brazil, which held a share of more than 60%. The country is one of the largest food producers and also agribusiness is seen as a major contributor to the Brazilian economy.

The region is considered as one of the expanding markets, with high opportunities. The high opportunities in the crop protection chemical market are in the high diversification of the crops, which allows for different biological targets. Such diversification would allow the manufactures to have a better distribution throughout different agricultural cycles and thus reducing their risks. The cereals & grains segment is to be growing with the highest anticipated CAGR of 3.72%, through the studied period.
The growth of the crop protection chemical in the region will have a substantial importance in terms of its impact on nature. The region is trying to develop alternatives to pesticides through the implementation of the IPM- Integrated Pest Management programs, which illustrates a significantly positive impact on ecology as well as the economy.

The majority of the companies in the global landscape of this market are enjoying great potential in this million-dollar industry, even though they face a lawsuit now and then. A few of the most prominent companies in the market which are profiled in this report are: Adama Ltd., Basf SE, Bayer AG, Dow AgroSciences, FMC Corporation, Huapont Life Sciences, Nufarm, Sumitomo Chemical, Syngenta AG, UPL