Market Entry-Agricultural enzymes Industry in Chile : Analysis of Growth, Trends and Progress (2016 - 2021)

About the Market

Technological advancements have boosted the manufacturing capacity and application of agricultural enzymes such as invent of phytases (enhances the nutritional contents of food grains) and silage fermentation. Over the years, growing demand for natural and organic food, coupled with rising awareness towards hazardous properties of pesticides and other chemicals used in agriculture have elevated the need of green and naturally sourced agrochemicals. Moreover, government concern over food and environment safety in the Asia-Pacific and Latin America regions, have led to many stringent regulations – such as integrated pest management (IPM); forcing farmers to adopt bio-based chemicals in place of conventional chemicals. This trend is expected to increase the demand for agricultural enzymes in coming years. The developed nations hold major market share while the developing countries show speedy growth. Favorable foreign investment policies and the push for sustainable agriculture are the major drivers of the industry. Some of the leading players operating in the global agricultural enzymes market include Novozymes A/S, Agrinos Inc., Agri-Life., Stoller Usa Inc., Bioworks Inc., Syngenta AG, Aries Agro Ltd., Greenmax Agro Tech., and Camson Bio Technologies Limited.

About the Geography

Chile is recognized as one of the most stable, open and competitive economies in Latin America. With a presidential republic at its helm, the recent success of the Chilean economy is based on the export of copper.

With the continued drop in copper prices since 2014, Chile has experienced its second consecutive year of slow growth, elevated inflation and a depreciating currency. To counter this sluggish growth, Chile’s policymakers have been actively seeking foreign investment that shall provide the needed capital and technology for economic development. Chile withdrew from the ANCOM (Andean Common Market) in order to be free from restrictions on foreign investment. Regional incentives are available granting certain benefits, to promote investment in these areas and an all-round development of the country.

Negotiations made mostly in Spanish and weak IPR enforcement are challenges of conducting business in Chile. However, the strengths of the market, which include an open economy, commitment to free trade, a well-developed financial market and economic structure, seem to stand tall among these challenges.

The Market Entry Series

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