Latin America Rodenticides Market was worth USD 0.11 million in 2021 and is projected to be growing at a CAGR of 6.5%, to touch USD 0.16 million by 2026.
Rodenticides are widely used in agricultural fields, green houses as well as warehouses. Pest Control Agencies are also among the key users. Increasing demand to protect crops as well as food grains is likely to have a positive effect on the global market over the forecast period. The growing agriculture sector in emerging nations such as China, India, and Brazil is expected to boost the market growth in the region.
Drivers and Restraints of Latin America Rodenticides Market:
Rising demand for pesticides due to growing agriculture sector increasing food demand is expected to drive the market in Asia. Rising awareness amongst farmers and horticulturists concerning adverse effects of rodents on crops and developing farming techniques are predicted to further supplement the global market growth. Strict regulations by governmental agencies over rodenticides usage and resulting soil contamination is further likely to challenge the global market. Toxicity of rodenticides on humans and animals has been a key factor restraining the growth of the market.
Latin America Rodenticides Market - By Type:
Latin America Rodenticides Market - By Mode of Application:
Latin America Rodenticides Market - By End User:
The non-anticoagulant rodenticides segment is projected to grow at the highest CAGR from 2022 - 2027.
The Market is Geographically divided into:
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Latin America is expected to experience robust growth for rodenticides market due to increasing agricultural sector in Brazil. Population growth and high use of pesticides to achieve better productivity is likely to trigger the growth of rodenticides market in this region.
The important companies are aggressively pursuing supply contracts to expand consumer reach and increase market presence. Companies such as Syngenta, BASF and Bayer Crop Science have been involved in R&D to develop non-toxic rodenticides. The above is expected to open new possibilities to market participants and provide them with competitive gain. Some key players operating in the global market include BASF SE, Bayer Crop Science, Neogen Corp., Impex Europa S.L., J.T. Eaton & Co., Liphatech, Pelgar International, Syngenta SA, and UPL Limited.
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