LONDON, June 15, 2016 /PRNewswire/ -- "Latin America biocontrol market is projected to grow at a CAGR of 15.14%"
The Latin America biocontrol market was valued at USD 423.7 million in 2015, and is projected to grow at a CAGR of 16.5%, to reach USD 1,050.7 million by 2021. The market is driven by factors such as increasing awareness regarding biological crop protection products among the farmers in the region, developing economy, rising population, increasing consumption of organic food, and awareness regarding the adverse impact of chemical pesticides. The high growth potential in the Latin American region provides new growth opportunities for market players.
"Bioinsecticides segment led the market with the largest share in 2015"
On the basis of type, the Latin America biocontrol market was led by the bioinsecticides segment, followed by biofungicides, bioherbicides, and bionematicides in 2015. The application of biocontrol in organic farming has increased as these provide better results through in integrated pest management process.
"Microbials segment dominated the Latin America biocontrol market on the basis of origin"
Microbials held the largest share in the Latin America biocontrol market in 2015, followed by biochemical and beneficial insects. Microbial biocontrol measures contain microorganisms as the main active ingredient that functions as a biological control agent. The microbials segment is further subsegmented to bacteria, fungi, virus, and nematodes.
"Foliar spray segment led the Latin America biocontrol market on the basis of mode of application"
Foliar spray segment dominated the Latin America biocontrol market. Large scale usage on grains & oilseeds and fruits & vegetables for spraying bioinsecticides has increased the foliar spray mode of application. The other modes of application such as soil treatment and seed treatment are also gaining market share in the region.
"The liquid formulations segment led the Latin America biocontrol market on the basis of formulation"
Liquid formulations segment dominated the Latin America biocontrol market in 2015, followed by dry formulations. Liquid formulations have longer shelf life with easy handling, transportation, and application. Liquid formulations are cost-effective, eco-friendly, and sustainable, which further fuels their demand.
"Fruits & vegetables segment led the Latin America biocontrol market on the basis of application in 2015"
The fruits & vegetables segment dominated the Latin America biocontrol market in 2015, followed by the others segment which include grains & oilseeds and other crops.
Due to the increasing urban population and high consumption of fruits & vegetables globally, the demand for exotic and tropical fruits & vegetables has increased, which is further boosting the Latin America biocontrol market.
"Mexico: The future of the Latin America biocontrol market"
There are a large number of manufacturers and suppliers of biocontrol products in Mexico offering products at very competitive prices. Along with the high demand of biocontrol products in the domestic and neighboring markets, manufacturers are increasingly exploring higher profitability and trade opportunities in Latin American countries. Mexico is likely to increase its market share in the next five years by competing with the other Latin American countries owing to increase in export of fresh tomatoes, avocados, papayas, hot salsas, beer, and tequila.
Mexico is expected to be the fastest growing country-level market during the forecast period.
Break-up of Primaries:
- By Company Type - Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%
- By Designation – C level – 50%, Manager level – 25%, Others – 25%
- By Country – Brazil - 40%, Mexico – 30%, Argentina – 20%, Colombia –5%, Chile -5%
Leading players profiled in this report:
- BASF SE (Germany)
- The Dow Chemical Company (U.S.)
- Syngenta AG (Switzerland)
- Bayer CropScience AG (Germany)
- Novozymes A/S (Denmark)
- Marrone Bio Innovations, Inc. (U.S.)
- Valent BioSciences Corporation (U.S.)
- Certis USA LLC (U.S.)
- Koppert B.V. (The Netherlands)
- Gowan Company, LLC (U.S.)
Reasons to buy this report:
- To get a comprehensive overview of the Latin America biocontrol market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major regional countries in which the biocontrol market is flourishing
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