According to Triton Market Research, the Latin American biopesticides market is expected to experience significant growth during the forecast period of 2023-2030, with a CAGR of 15.36%. The report analyzes Mexico, Brazil, and the Rest of Latin America.
In Mexico, concerns regarding the residual effects of synthetic fungicides have fueled the demand for biopesticides. As a result, these eco-friendly alternatives have gained acceptance due to their minimal environmental impact and effectiveness in crop production and pest management. On the other hand, the country’s biopesticides, particularly bacillus subtilis, are thriving with locally-produced, cost-effective, fungal-based products supported by increased research activities.
In Brazil, proactive initiatives like the Insect Resistance Management (IRM) program, launched in 2015 by the Council for Biotechnology Information, are driving the adoption of sustainable agricultural practices through biopesticides. These programs educate crop growers about bio-based pesticide solutions, fueling the growing demand for biopesticide products and further driving the biopesticides market progression.
Competitive Outlook
The well-known enterprises in the biopesticides market include Pro Farm Group, Koppert Biological Systems, Novozymes A/S, The Stockton Group, and Valent BioSciences Corporation.
1. Latin America Biopesticides Market - Summary
2. Industry Outlook
2.1. Parent Market Analysis
2.2. Evolution And Transition Of Biopesticides
2.3. Impact Analysis On The Biopesticides Market
2.3.1. Covid-19 Impact
2.4. Key Insights
2.4.1. Using Biopesticides As Part Of Integrated Pest Management (Ipm)
2.4.2. Integration Of Precision Farming And Big Data With Pest Management
2.4.3. Adoption Of New Farming Technologies
2.5. Porter’s Five Forces Analysis
2.5.1. Threat Of New Entrants
2.5.2. Threat Of Substitutes
2.5.3. Bargaining Power Of Suppliers
2.5.4. Bargaining Power Of Buyers
2.5.5. Threat Of Competitive Rivalry
2.6. Regulatory Framework
2.7. Key Market Strategies
2.7.1. Product Launches And Developments
2.7.2. Collaborations
2.7.3. Acquisitions
2.8. Market Drivers
2.8.1. Rising Population Has Raised The Demand For Food Products
2.8.2. Consumer Inclination Towards Organic Produce Pushes Organic Farming
2.8.3. Cost-effective R&D In Biopesticide Manufacturing And Innovation
2.9. Market Challenges
2.9.1. Precision Targeting And Limited Product Availability