Latin America Biopesticides Market
Latin America Biopesticides Market Report Description:
Latin America biopesticides market report gives comprehensive outlook on biopesticides market across the region with special emphasis on key countries such as Brazil, Mexico, Argentina, Chile, Ecuador, and Rest of Latin America. The report on Latin America biopesticides market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, crop type, origin, by formulation and country. This report studies Latin America biopesticides market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America biopesticides market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America biopesticides market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America biopesticides market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in Latin America biopesticides market activities.
Latin America Biopesticides Market:
The Latin America biopesticides market estimated to be valued US$ 433.5 Mn in 2018 and poised to grow at significant CAGR over 2018-2023. Market for Latin America biopesticides projected to reach US$ 905.5 Mn by 2023 due to acceptance of biopesticides, ease of registration of biopesticides, low expenditure on R&D for the product development, and awareness among the farmers on application of biopesticides.
Development and Launch of New Biopesticides
Development and launch of innovative biopesticides by the market players enables surge
in the biopesticide market demand over the forecast years. For instance. In 2018, Neudorff launched the new NemaSprayer, which has been specifically designed and pre-calibrated for simple spraying of the new range without the need for a watering can. Apart from above mentioned dynamics, factors like growing awareness about the biopesticides usage among farmers expected to boost the biopesticides market. Moreover, Launch of newer products in various countries enables the growth of biopesticides market over the forecast years.
Low R&D Expenditure on Product Development
Ease of registrations for biopesticides, very low expenditure for the development of biopesticide products and awareness among the farmers on biopesticide application expected to witness the growth in the revenue share of biopesticides market. Moreover, government initiatives to support agricultural sector are the reasons anticipated to accelerate the market revenue growth over the forecast period.
Brazil Accounts for Larger Market Revenue Share in Latin America Biopesticides Market
Brazil accounted for larger revenue share in Latin America biopesticides market with moderate CAGR due to adoption of biopesticides in the country. Argentina market projected to grow at highest growth rate over the forecast years due to several product launch and expansion of companies’ product portfolio. Mexico Biopesticides Market projected to reach US$ 169.4 Mn by 2023 owing to increase awareness about the biopesticides and their application on crop anticipated the market growth over forecast years.
Key players profiled in the Latin America biopesticides market include:
- Bayer CropScience AG
- The Dow Chemical Company
- BASF SE
- Isagro SpA
- Koppert Biological Systems
- Monsanto Company
- Valent BioSciences Corporation
- Neudorff GmbH Kg
Latin America biopesticides market is consolidating as large players complementing each other’s businesses by means of collaborations and acquisitions. For instance, in 2017, Koppert B.V. has acquired BUG Agentes Biologicos to strengthen their position in macro-biological crop protection and became the largest biocontrol company in Latin America. Moreover, players in the Latin America biopesticides market coming up with launch of newer products to garner larger market share in the market. For instance, In September 2015, Koppert B.V. has launched a new
biostimulant, Panoramix (Mycorrhiza, Bacillus, and Trichoderma species) that promotes growth, improves resistance, and to increases yield.
Key Findings of the Report:
Latin America biopesticides market expanding at significant CAGR over 2018 to 2023 to reach market value of US$ 905.5 Mn by 2023 owing to increase launch of newer products and awareness about biopesticides among farmers.
- Based on product type herbicides accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Grains and Oilseeds segment garnered larger revenue share in 2018 due to adoption of biopesticides
- Players focusing on mergers and acquisitions strategies to retain market position in Latin America biopesticides market
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
By Crop Type
- Fruits and Vegetables
- Grains and Oilseeds
- Plant Incorporated Protectants
- Latin America
- Rest of Latin America