Latin America Seed Market was worth $5.29 billion in 2021 and estimated to be growing at a CAGR of 8.10%, to reach $7.82 billion by 2026.
High yielding cultivars/seeds along with other agricultural inputs such as crop protection products, fertilizers, and irrigation are being used to attain optimum utilization in the agriculture sector.The global concerns about pollution are driving the increase in the use of biofuels. Biofuel offers various advantages when compared to fossil fuels in terms of reducing pollution, which is one of the primary reasons of governments taking up initiatives to produce biodiesel.
Latin America Seed Market Drivers:
The growth of the Latin America Seed market is majorly driven by factors such as the rising population, increasing consumption of animal fodder, and growing need for commodities such as vegetable oil. Strict regulatory structures, volatile economies, and lack of awareness are the key challenges for the companies in the market.
Latin America Seed Market - By Crop Type:
Latin America Seed Market - By Seed Trait:
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil accounts for 65% of the seed market in this region followed by Argentina. Soybean is one of the leading crop seeds in Argentina which comes under the oilseeds segment. Other major markets in this region are Uruguay, Paraguay, Colombia, Chile, and Bolivia.
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