Latin American Biopesticides Market – Growth, Trends And Forecasts (2015 – 2020)
The Latin America’s biopesticides market has been estimated at $XX million in 2015 and is projected to reach $226.27 million by 2020, at a CAGR of XX% during the forecast period from 2015 to 2020. Biopesticides offer a unique and innovative approach to the management of agricultural pests using formulated microbial agents as an active ingredient. Microbes that have been used in this approach include fungi, bacteria, viruses and nematodes. Each microbial biopesticide is unique, not only the organism or active ingredient but also the host, the environment in which it is being applied, and economics of production and control. In Latin America, the pesticides market, both synthetic as well as biopesticides is witnessing a steady growth and the key market drivers for the industry in the region are adoption of herbicides tolerant crops, increasing area of crop production and increasing yields of agricultural produce. However, strict regulation posed by US EPA and EU on pesticidal residue limit on food crops, will limit the use of the synthetic pesticides on crops and will increase the demand of biopesticides in the region. While the prevalence of chemical or synthetic pesticides in Latin America would continue, human, animal and environmental health concerns would play key roles in driving growth for Biopesticides. Emerging economies of Latin America are likely take the lead in adoption of both pesticides and Biopesticides. Principal factors driving the same include greater adoption of biopesticides in place of traditional chemical-based pesticides as a consequence of increasing efficacy and enhanced consumer confidence in their performance output. Segmentation of this report has included categorizing Biopesticides as Bioherbicides, Bioinsecticides, biofungicides and other Biopesticides. By application area, Biopesticide demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).Bioherbicides form the largest and Biofungicides are the fastest growing segments. Many countries, such as Argentina, have been at the forefront of introducing regulations aimed at minimizing the use of chemical pesticides within municipal limits, which are expected to provide the necessary momentum for biopesticides. Biological control agents (BCAs) or Biopesticides account for a small share of registered pesticides in Brazil because the market for unregistered BCAs is much higher. The Biopesticides market, is witnessing a surge in corporate activity with several agrochemical companies entering into the agricultural biologicals sector either through dedicated R&D investment, licensing deals, partnerships, and mergers and acquisitions. The analysis of major companies in the Biopesticides industry has taken into account strategy adopted, financial revenues and the latest developments in the market. Some of the leading players covered include Bayer CropScience, BASF, Marrone Bio Innovations, De Sangosse S.A.S.and Valent Biosciences. Key Deliverables in the Study 1. Market analysis for the Latin American Biopesticides Market, with region specific assessments and competition analysis. 2. Market definition along with the identification of key drivers and restraints. 3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market. 4. Extensively researched competitive landscape section with profiles of major companies along with their market shares. 5. Identification and analysis of the macro and micro factors that affect the Latin American Biopesticides Market. 6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. 7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. 8. Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped.