The Latin American insecticides market size is expected to reach USD 4.01 billion in 2024 and USD 5.24 billion by 2029, growing at a CAGR of 5.5% from 2024 to 2029.
Insecticides are a class of pesticides used to kill or regulate the insects that destroy crops. They also increase the yield significantly. Based on Residual Activity, Insecticides are mainly of two types. They are Systematic Insecticides and Contact Insecticides. Systematic Insecticides are ones that have long-term residual activity while Contact Insecticides have no residual activity.
Rising commercial pest management services, increasing concerns of Insect transferrable diseases, rising demand for food grains owing to the increasing population, increasing Crop losses due to pests, advancements in agricultural practices or techniques, and fall in per capita farmland are some of the major factors driving the market. However, some of the factors, like improper handling of insecticides and their toxic properties, are slowing down the growth of the market.
Latin America Insecticides Market Analysis By Crop Type
Major Players in the market include Dow Chemical Company, BASF SE, E.I. DuPont De Nemours & Company, Bayer Crop Science AG, Cheminova As, Nufarm Limited, Makhteshim Agan Industries, Syngenta AG, Sumitomo Chemical Company Ltd., and FMC Corporation.
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