Market Size of Latin America Crop Protection Chemicals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin American Crop Protection Chemicals Market Analysis
The Latin American crop protection chemicals market is poised to register a CAGR of 6.1% during the forecast period.
- Latin America has the potential to be the global breadbasket of the world because of its rising use of innovation and investment in sustainable agriculture. Finding sustainable ways to feed the rapidly increasing population while satisfying the evolving and diverse dietary needs of the growing global middle class is an opportunity that can be utilized by Latin America. Therefore, the provision of crop protection chemicals plays an important role.
- The Latin American region is a significant exporter of a variety of crops, of which the most significant include soybeans, maize, cotton, sugar, orange juice, coffee, bananas, ornamentals, cocoa, grapes, apples, and other fruits. Pesticides are essential components for the production of these crops and for maintaining export levels. In certain cases, pesticides also supplement ecologically sound practices, such as no-till, which helps preserve soil fertility in the region.
- Globally, the Latin American market is the second-fastest-growing market for crop protection chemicals, and it accounts for more than 23% of the global market share. Joint ventures and new product launches are the major strategies followed by Latin American companies. The pesticide market in Latin America is consolidated, with the top few companies holding the major share, whereas the biopesticide market is fragmented.
