South America Agrochemical Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Agrochemical Market Analysis
South America Agrochemicals Market is projected to register a CAGR of 4.1% during the forecast period(202-2025). South America occupies the first position as an exporter of sugar, coffee, orange juice, soybean, and soybean oil, and the second position for corn and soybean meal. The food safety issues and the need for sustainable agriculture drive the biological segment of the market studied. The two main crops driving growth in the region are soybeans and corn. Brazil's emergence as an agricultural superpower has been spurred by the increased use of mechanized agriculture. The non-crop based application is estimated to be the fastest-growing segment than crop-based. The Brazilian national health surveillance agency, Anvisa, issued a resolution in December 2017, to amend the ban on the herbicide, paraquat. The residual toxicity and health hazards of toxic chemicals are creating an alarming situation in the South American agrochemical industry. Bayer Crop Science is a key player in South America and accounts for the majority of the market share in the South America agrochemicals market. Yara International, Syngenta, BASF, FMC, and Nufarm are some of the other key players in the market.
South America Agrochemical Market Trends
This section covers the major market trends shaping the South America Agrochemicals Market according to our research experts:
Growth of The Agriculture Sector
In recent years, insects, pests, and plant-parasitic nematodes became immensely resistant against agrochemicals like the crop protection chemicals. Brazil and Argentina are the world's two fastest-growing agrochemical markets. Organic farming in the region is increasing year-after-year and Argentina holds the major share in the market followed by Uruguay and Brazil. An important part of agriculture in Argentina is organized in a vertically-integrated system and organic farming is found throughout the country. The International Federation of Organic Agriculture Movements (IFOAM) America Latina is playing a vital role in sustainable agriculture and food security initiatives in South America. With the increased organic farmland, demand for biological chemicals is also expected to increase in the region. Despite its limited target pest specificity, it offers many opportunities for industries to boost sustainable agriculture for a healthier future. Each microbial pesticide is unique, not only in an organism or active ingredient but also with the host, the environment in which it is being applied, and the economics of production and control. The main crops driving growth in these countries are soybeans and corn. Finding sustainable ways to feed the rapidly increasing population while satisfying the evolving and diverse dietary needs of the growing middle class is an opportunity that can be utilized by South America. Therefore, the provision of agrochemicals plays an important role in the region.
Brazil Dominates the Market
Brazil is one of the fastest-growing economies and the largest crop protection markets in the world. The rapid growth of the crop protection market in the country can be attributed to an increase in the export demand for corn and soybeans has increased the acreage of these crops, thus increasing the use of crop protection products. Due to the increased attack of Asian Rust in Brazil, fungicides constituted the most sold products in 2016. Due to the illegal trade of insecticides, the category witnessed a drop in sales in 2016 as compared to the previous year. Brazil also imports agrochemicals from across the globe in which China is the top-most exporter of agrochemicals in Brazil. China is followed by the United States, India, Argentina, etc.
Key players occupy the majority of the Brazilian agrochemical market with Syngenta leading the sales of agrochemicals in Brazil. Bayer and BASF occupy the second and third positions. Syngenta's Viptera led to an increase in its participation in the market for the protection of corn in Brazil. An increase in domestic food consumption by the expanding population increases produced crops and the associated inputs. Increase in the adoption of high-value seed technology and the related seed protectant products purchased as insurance policies.
South America Agrochemical Industry Overview
New product launches, mergers & acquisitions, and partnerships are the major strategies adopted by these leading companies in the market. These companies are also focusing on making an investment in innovations, collaborations, and expansions, in order to increase their market share. The agrochemicals market is fragmented, with key players being Syngenta AG, Bayer CropScience, Yara Brasil SA, BASF SE, and Nufarm. In 2017, Dow and DuPont merger was successfully completed. The merger of both companies is the biggest strength as of now as well as a great opportunity for the future. The combined capabilities and highly productive innovation engine will enable the company to bring a broader suite of products to the market faster. Such activities are likely to bring consolidation in the market.
South America Agrochemical Market Leaders
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Bayer SA
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Yara Brasil SA
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Syngenta
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BASF SE
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Nufarm
*Disclaimer: Major Players sorted in no particular order
South America Agrochemical Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Fertilizers
- 5.1.2 Pesticides
- 5.1.3 Adjuvants
- 5.1.4 Plant Growth Regulators
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5.2 Application
- 5.2.1 Crop Based
- 5.2.1.1 Grains and Cereals
- 5.2.1.2 Pulses and Oilseeds
- 5.2.1.3 Fruits and Vegetables
- 5.2.2 Non-Crop Based
- 5.2.2.1 Turf and Ornamental Grass
- 5.2.2.2 Other Non-crop Based
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5.3 Geography
- 5.3.1 Brazil
- 5.3.2 Argentina
- 5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Competitor Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Syngenta
- 6.3.2 Bayer CropScience AG
- 6.3.3 BASF SE
- 6.3.4 Corteva Agriscience
- 6.3.5 Archer-Daniels-Midland (ADM)
- 6.3.6 FMC Corporation
- 6.3.7 Agrium
- 6.3.8 Potash Corporation of Saskatchewan
- 6.3.9 Nufarm Ltd
- 6.3.10 FMC
- 6.3.11 Yara International
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19
** Subject To AvailablitySouth America Agrochemical Industry Segmentation
Agrochemicals are used for preventing the deterioration of crops from insects and pest infestation and disease. South America Agrochemicals Market report analysis offers the latest trends, growth factors, industry competitiveness, investment opportunities, detailed profile of the top players for the market during the forecast period.
| Product Type | Fertilizers | |
| Pesticides | ||
| Adjuvants | ||
| Plant Growth Regulators | ||
| Application | Crop Based | Grains and Cereals |
| Pulses and Oilseeds | ||
| Fruits and Vegetables | ||
| Application | Non-Crop Based | Turf and Ornamental Grass |
| Other Non-crop Based | ||
| Geography | Brazil | |
| Argentina | ||
| Rest of South America |
South America Agrochemical Market Research FAQs
What is the current South America Agrochemicals Market size?
The South America Agrochemicals Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in South America Agrochemicals Market?
Bayer SA, Yara Brasil SA, Syngenta, BASF SE and Nufarm are the major companies operating in the South America Agrochemicals Market.
What years does this South America Agrochemicals Market cover?
The report covers the South America Agrochemicals Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Agrochemicals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Agrochemical Industry Report
Statistics for the 2024 South America Agrochemical market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Agrochemical analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
