Biopesticides Market - Brazil Industry Growth, Trends and Forecasts (2017 - 2022)
The Brazilian biopesticide market is witnessing a faster growth, primarily, due to the governmental support and growing demand for organic products. The Brazil biopesticides market is estimated to record a CAGR of 17.19% during 2017-2022 (the forecast period), and reach USD XX million by 2022 from its initial value of USD 253.50 million as per 2016.
The rising awareness about pesticides residues in food, along with the growing demand for organic products for exports, has accelerated the adoption rate of biopesticides in the country.
Biopesticides in Brazil are majorly used on soybean and orange crops, with a majority of the organic products produced being exported to EU and the US.
Growing demand for organic food products, sustainable and integrated pest management techniques, and the promotion of biopesticides by the government and non-government organizations are fueling the market growth. The biopesticides products have witnessed a 136% growth, in terms of product registrations, from 2009 to 2015, which is one of the positive factors for the market growth. ABC Bio, an association of all leading biopesticides companies in the country, is also actively involved in the promotion of biopesticides, by training and educating farmers, thus, driving the growth of the biopesticides market. In Brazil, there are a large number of substandard and fake products that account for about 20-30% of the market, which causes reduction of crop yield and, further, restraining the market growth. Some of the other factors hindering the market growth include less product reachability & availability, and high target pest specificity of the biopesticide products.
The Brazilian biopesticides market has been segmented into two, product type, and application. Based on product type, the market is segmented into bioinsecticides, biofungicides, bioherbicides, and ‘others’, where bioinsecticides segment holds the largest market share, among all. In 2016, Brazil had about 118 registered biopesticide products, which include XX bioinsecticides. Based on application, the market is segmented into crop-based and non-crop-based, where the crop-based biopesticides segment is sub-segmented into grains and cereals, oil seeds, and fruits and vegetables. Biopesticides are majorly used on fruits and vegetable crops, as well as soybean crops. Oil seeds market is anticipated to grow at a faster rate, registering a CAGR of 17.50% during 2017-2022 (the forecast period). Increasing soybean cultivation is the major factor accelerating the oil seeds market growth.
“As of 2017, there are no bioherbicides products registered in the country and many companies are focusing on developing bioherbicides. Bioherbicides products are estimated to be launched into the market by 2018”
Key Industry Players
Some Of The Major Brazilian Biopesticides Companies Included In The Report Are:
• Bayer CropScience
• Arysta Life Science
The Brazilian biopesticide market is fairly fragmented. The market is witnessing a surge in corporate activity with several companies entering the sector through dedicated R&D investment, licensing deals, partnerships, and mergers and acquisitions. New product launches and acquisitions are the major strategies adopted by the market players.
Key Deliverables In The Study
• Market analysis, with country specific assessments and competition analysis
• Market overview, with the identification and analysis of the macro and micro factors that affect the Brazilian biopesticides market
• Extensively researched competitive landscape section, with profiles of major companies and their market share, along with an analysis of their current strategic interests, financial information, and strategies adopted to sustain and grow in the studied market.
The Report Holds Importance For The Following Stakeholders:
• Producers and manufacturers
• Agricultural input companies
• Enterprises operating in the industry
• Traders and stakeholders operating in the sector
• Investors/research institutions interested in the market