Argentina Biopesticides Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Argentina Biopesticides Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Argentina biopesticide market is projected to register a CAGR of 7.7% during the forecast period 2020-2025. One of the major drivers for the biopesticide market in Argentina has been the increasing demand for organically grown produce as a result of changing dietary preferences amongst the consumers. It has been estimated that almost 70% of the domestically grown food consumed is highly contaminated with pesticide residues. As a result, the growing demand for ecologically-safe produce has been ramping up the demand for bio-based pesticides in the market. Principle factors driving the same include greater adoption of biopesticides in place of traditional chemical-based pesticides as a consequence of increasing efficacy and enhanced consumer confidence in their performance output.

Key Market TrendsIncreased Adoption of Organic Farming

The growing movement for sustainable agriculture has emerged in the region over the past few years, promoting practices that contribute to reducing social and environmental concerns over agricultural practices. The increasing support and acceptance within mainstream agriculture of sustainable agricultural techniques have led to safer field applications of products like biopesticides. Sustainable farming drives farmers toward minimizing the use of chemical pesticides, thereby saving costs, productivity, and the environment. The use of biopesticides in sustainable agriculture not only addresses several environmental and social concerns, but also offers innovative and economically viable opportunities for growers, laborers, and consumers. These are some of the major drivers for the market growth of the biopesticide industry in the country.

Increasing Demand for Organically Grown Products

In response to the growing need to meet food sufficiency and the importance of safe farming practices, the organic food industry is growing exponentially at a double-digit growth rate. The growing health-conscious consumer base in the region is opting for organic food in place of conventional food, in order to avoid adverse health effects caused by chemical preservatives or genetically modified ingredients present in inorganic food. In response to consumers’ demands for healthy food products with minimal environmental impacts, growers are looking for more efficient ways to use synthetic chemicals and mineral fertilizers. Organic food and related agriculture account for a major share of the total food market, varying from country to country. Since organic food products are produced using biological kinds of pesticides or fertilizers, there is a growing use of biopesticide for its production. Consequently, the increasing popularity of organic farming drives the demand for biopesticides.

Competitive Landscape

The market for biopesticides in Argentina is fragmented with each player vying for a larger market share in the Brazilian industry. Some of the major players in the country include Marrone Bio Innovations, Valent Biosciences Corporation, Koppert Biological Systems, Andermatt Biocontrol, American Vanguard Corporation, and BASF SE, among others. The global players have been acquiring regional companies in order to expand their base and product portfolio in the country. New product launches following extensive R&D activities have been part of the strategic moves by the players.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Bayer crop science
BASF
American Vanguard Corporation
Valent Biosciences
FMC Corporation
Koppert Biological System
Corteva Agriscience
Marrone Bio innovations
Andermatt Biocontrol

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