South America Crop Protection Chemicals Market Outlook, 2027

Crop protection chemicals aids in monitoring and controlling pests and diseases that may infect, consume, or damage crops. Furthermore, they also assist the farmers in managing crop productivity, improving overall yield, and enhancing food security. As a result, crop protection chemicals are utilized on various crop types, including cereals and grains, oilseeds and pulses, fruits and vegetables, etc. The report published by Bonafide Research, under the title, “South America Crop Protection Chemical Market Outlook, 2027”, gives a brief of the market, segmented by product type, by application, and by country. The segmental analyses have been detailed into herbicide, insecticide, fungicides & bactericides, and others, in terms of products, and in terms of application, the market is classified into Cereals & grains, Oilseeds & pulses, fruits & vegetables, and others. These segments are analysed country-wise and the report also covers a detailed discussion about the trends, rules, and regulations in the region. South America is the second leading contributor in the global market, which held to more than a quarter of the market share in the year 2021. The agricultural sector in the region has been witnessing significant growth with a considerable expansion of the arable land, which aided the crop protection chemical market to grow with a historic growth rate of over 6%. Even though the overall market of the region holds a potential market scope, the smaller economies are likely to face hurdles of political & economic resolutions. For instance, the countries like Uruguay, Paraguay, and Bolivia do have a stable government, but due to their size, they are highly dependent on Brazil & Argentina. By the end of the forecasted period, the South America market for crop protection chemicals is expected to cross a value of USD 20 Billion by 2027. In South America, a significant growth in the agriculture sector along with the expansion of farmland is currently propelling the market growth. Furthermore, the growing consumption of plant-based food items is also driving the need for crop protection chemicals to maximize agricultural yield and improve food security. Additionally, the elevating levels of urbanization and limited availability of arable land, particularly across Brazil and Argentina, are further augmenting the demand for crop protection chemicals. In line with this, several government bodies across South America are focusing on lowering the need to convert natural areas, such as forests, native prairies, wetlands, wildlife habitat into farmlands. This has resulted in the growing adoption of crop protection chemicals for producing high agricultural yield per acre. Additionally, the extensive R&D activities for the launch of innovative product variants that are highly selective in their action to minimize the impact on non-target organisms are also bolstering the regional market. In the coming years, the emergence of bio-based crop protection chemicals to reduce the negative environmental impact of synthetic alternatives will continue to drive the market growth in South America.

The market is led by the herbicides segment which held more than 50% of the market share. Through the forecasted period, this segment is expected to be the fastest-growing segment, with the highest CAGR of almost 4%. Even though this region holds a high market share, it is quite sensitive to exchange rate and the value fluctuation due to political & economic impacts. The crop protection market is indirectly influenced by the closed economies and increase in tax. The herbicide segment in the region has seen several mergers and acquisitions by different companies, due to its sizable market share. The crop protection chemical is highly demanded in the region, given the fact that the region is a major exporter of agricultural products. In order to meet the food safety standards of the international market, it becomes important to keep a check on the residue limit of the pesticides. The major agricultural products exported are soybeans, corn, cotton, sugar, orange juice, coffee, bananas, ornamentals, cocoa, grapes, apples, and other fruits. The main importers are distributed between Asia, Europe, and the Middle East, and the United States. In terms of application, oilseed & pulses cultivation holds the highest share in the region. The demand for herbicides is high among the farmers who sow Soybean, maize, cotton, and wheat. However, through the forecasted period, the cereals & grains segment is likely to be growing with the highest anticipated CAGR of over 3.50%. The region has a high dominance of Brazil, which held a share of more than 60% in 2021 . The country is one of the largest food producers and also agribusiness is seen as a major contributor to the Brazilian economy. The increase in demand is expected to raise the need for higher yield, which directly impacts crop protection chemical consumption. The region imports crop protection chemicals extensively from Canada, the Russian Federation and the United States, Morocco, Germany, Algeria, and China. COVID-19 Impact The Covid pandemic affected the market creating a moderate impact on the agricultural activities which in turn affected the crop protection market. along with this the market observed hinderance with the supply chain and distribution of these products as the countries in the region heavily import chemicals as a raw product from international trade. The pandemic saw closing down of international borders which affected this.

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Manmayi Raval

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Major companies mentioned: Basf SE, Bayer AG, Corteva AgriSciences, FMC Corporation, Huapont Life Sciences, Nufarm, Sumitomo Chemicals, Syngenta AG, UPL Considered in the report • Geography: South America • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Countries covered: • Brazil • Argentina • Colombia

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Aspects covered in the report • Market Size by Value for the period (2016-2027F) • Market Share by Product Type (Herbicide, Insecticide, Fungicides & Bactericides, and Others) • Market Share by Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others) • Market Share by Region • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modelling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Agriculture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.