“Latin America Agricultural Biologicals Market By Type (Biopesticides, Biofertilizers, and Biostimulants), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Rest (Crops), By Geography – Analysis and Forecast to 2019”
Agricultural biologicals are substances that complement or replace traditional fertilizers and chemicals, which help lower the environmental impact of agriculture. These are considered as naturally occurring solutions, such as microbial, plant extracts, beneficial insects, and other organic materials that allow farmers to improve crop health and productivity.
The Latin American agricultural biologicals market is anticipated to witness significant growth in the future, as government regulatory bodies are actively working towards environmental issues. This in turn has created a wider acceptance for agriculture biologicals. The increasing awareness among farmers regarding the harmful impact of chemical usage is expected to further aid the growth of this market in Latin America.
The Latin American agricultural biologicals market is projected to grow at a CAGR of 15.8% from 2014 to 2019. This market is expected to have high growth potential in the near future, with the growing development in infrastructure and resource availability in the region. The increasing population in the region is expected to be another favorable factor for the growth of this market, as it leads to rise in the demand for food demand, which fuels the demand for more agricultural produce.
Key players such as BASF SE, Bayer CropScience, Marrone Bio Innovations, Novozymes A/S, and Isagro S.p.A have been focusing on Latin America to take advantage of the developing markets and rising consumer demand in the region. Companies are following strategies, including collaboration, agreement, partnership, and merger to achieve growth in this market.
The key findings of the Latin America Agricultural Biologicals Market are:
- The cereals & grains segment dominated the type segment of the Latin American agricultural biologicals market in 2014
- Among all types, the biopesticides segment accounted for the largest market share in 2014
- Brazil is the most dominant country in the agricultural biologicals market in Latin America
- Biostimulants is the fastest-growing segment among various types of agricultural biologicals
- The fruits & vegetables segment has the highest potential in the agricultural biologicals market in Latin America
The key drivers of the Latin America Agricultural Biologicals Market are:
- Rise in awareness and demand for organic products is anticipated to fuel the market for agricultural biologicals
- Increase in the Latin American population acts as a major driver propelling the growth of the Latin American agricultural biologicals market
- The improvement in yield and quality of crops, due to usage of agricultural biologicals, is positively impacting the Latin America agricultural biologicals market
The report covers following segments of the Latin America Agricultural Biologicals Market:-
Latin America Agricultural Biologicals, by Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Rest (Crops)
Latin America Agricultural Biologicals, by Application
Latin America Agricultural Biologicals, by Geography