The Chile crop protection chemicals market is estimated to register a CAGR of 5.31% during the forecast period (2020-2025). The drivers identified in this market include the need for increased agricultural productivity, an increasing number of mergers and acquisitions, decreasing arable land, technological innovation in crop protection sector, increasing herbicide resistance, and increased rate of adoption of GM technology. The restraints identified in this market are environmental and ecological damages, government regulations on agro chemicals, food safety issues, and increased health concerns.
Key Market Trends
Technological Innovation in the Crop Protection Sector
Various ongoing innovations in agriculture are expected to have a positive impact on the crop protection chemicals market in Chile. For instance, the application of epigenetics in developing new fungicide formulation, digital farming tools, and precision farming with a precise amount of chemicals for getting proper yield among others, are likely to drive the demand for pesticides in Chile.
Crop-based Products Dominate Market
The Ministry of Agriculture’s Agricultural and Livestock Protection Service (SAG) must approve the use of pesticides. This agency regulates the use of pesticides in Chile. In Chile, the agrochemicals market is quite competitive, with Bayer occupying the topmost position, followed by Syngenta and Agricola National S.A.C (ANASAC). The market for crop-based pesticide application occupies a larger market share of 85%, with grains and cereals dominating this segment.
Competitive Landscape
Companies in the Chilean crop protection chemicals market are mainly focused on developing new, qualitative products, and developing new technologies to improve product quality. New product launches, partnerships, and mergers and acquisitions are the main strategies followed by the major players in the Chilean crop protection chemicals market. The market studied is concentrated, although the entire South American crop protection chemicals market is fragmented. The top players constitute around 79% share of the market studied, while the other companies account for approximately 21% of the market share. In Chile, the crop protection chemicals market is quite competitive, and all transnational crop protection providers have their presence in the region.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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