Brazil Crop Protection Chemical Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Brazil Crop Protection Chemical Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Brazil crop protection market was valued at USD 9.3 billion in 2019 and is expected to register a CAGR of 6.9% during the forecast period 2020 - 2025.

• Brazil is one of the world's leading countries in agriculture productivity and production. According to the world bank, the revenue generated by Brazilian agriculture was USD 84.60 billion in 2019 and ranks fifth in terms of revenue across the globe.
• Soybean and corn are the major crops grown across the country. Soy accounts for 96% of total oilseeds produced in the country. The area under soy production has increased to 33.93 million hectares in 2017 from 33.18 million hectares in 2016.
• Synthetic pesticides and bio-pesticides are two different types of pesticides used in the market. The rasing concerns about environmental safety and food safety are leading to an increase in usage of bio-pesticides.

Soybeans, Cotton, and peanuts are the major oilseeds grown in the brazil. Brazil is the largest exporter of soy in the globe. According to the Brazilian government statistics, soybeans have accounted for about 95% of all oilseeds produced in the country followed by cotton and peanuts in 2018. After oilseeds, commercial crops and grains & cereals are holding the second and third positions respectively. According to Reuters, the harvest of corn and soy is estimated to be higher in 2020 compared to 2019. This indicates that Brazillian farmers are implementing various modern technologies such as farm implements, quality seeds, and crop protection chemicals to increase the yield and profit which would reflect over the crop protection market in the country.

The biopesticides segment of the market is projected to register a higher CAGR than synthetic pesticides during the forecast period. Across the globe, there is a growing demand for food safety and quality, organically produced products. This leads the farmers to use bio-pesticides for controlling the pests. Additionally, the low R&D investment for biopesticides would result in a low cost of production which in turn gives a high return on investment to the farmers. According to a recent news article in 2019, traces of 27 pesticides including 11 banned pesticides in the country has been found across various water sources in 1400 towns. As a result of this and various other incidents, the government has recently cleared 40 products in the country that has high toxic chemicals as their ingredients. This might boost the use of bio-pesticides across the country during the forecast period. However, the share of bio-pesticides is expected to remain lower than synthetic pesticides in the near future as well.

Brazil crop protection chemicals market is a highly concentrated market with few major players such as Bayer CropScience, BASF SE, Syngenta AG, UPL, and Corteva agriscience. These major players are strengthening their presence across the country through various activities such as mergers & acquisition, expansion of their production units, warehouses, and distribution channels, investment in R&D and new product developments.

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