Latin American Agricultural Biologicals market was worth USD 3.54 billion in 2021 and is predicted to grow at a CAGR of 5.8%, to reach USD 4.36 billion by 2027.
During the past few years, the majority of farmers prefer to use chemicals and inorganic fertilizers to improve the nutrients in the soil and thereby resulting in the weakening of soil health. This led to the migration of farmers slowly towards agricultural biological products. These products are eco-friendly and also boost soil fertility which results in the enhancement of crop productivity. Moreover, consumers' shift towards organic food products is fueling the growth of the market.
Drivers and Restraints
Increasing demand for organic products, improving yield and productivity, growing population, rapid growth in the use of these products in seed treatment, increasing spending’s in R&D efforts, support from the government, and increasing health consciousness are the drivers propelling the growth of the market. Lack of awareness among the farmers and reluctance to change from existing practices of chemical pesticides are the restraints limiting the market.
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Brazil is the biggest market in Latin America with a share of more than forty percent followed by Argentina. Bio-pesticides held a major in the Latin American Agricultural Biologicals market.
Major Key Players:
Some of the major companies dominating the market, by their products and services include: BASF, Bayer Crop Science, Syngenta, Novozymes A/S, Isagro, Arysta Lifescience Limited, Arysta LifeScience Corporation, Valent BioScience Corporation, Marrone Bio Innovations Inc., Certis U.S.A and Koppert B.V, Sagro.
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