Mexico Agrochemicals Market - By Type and Application - Market Shares, Forecasts and Trends (2017 - 2022)
The agrochemicals market in Mexico is estimated to grow at a CAGR of 5.2% during 2015-2020. Mexico is the third largest agrochemicals market in North America.
Mexico Agrochemicals Market Dynamics
At a time of rising food prices, population growth and concerns about global food security, there is a growing need for using agrochemicals and every available technology to meet future food needs and tackle the emerging challenges of climate change and resource conservation. Only 11% of land area is arable and less than 3% of it is irrigated in Mexico.
Mexico Agrochemicals Market Segmentation
The largest segments of Mexican agrochemicals are insecticides and herbicides, each accounting for about 36% of the market with a total of 60% in domestic agrochemical production. The major pesticide-treated crops in Mexico are maize, tomatoes, potatoes, cucurbits, pasture and sugar cane.
Key Players in the Mexican Agrochemicals Market
Mexican agrochemicals market is dominated by foreign players. The industry is concentrated within six major manufacturers covering 80% of the market share. The largest agrochemical market players in the country include such global firms as BASF (Germany), Cheminova (Denmark), DuPont (USA), FMC (USA), Syngenta (Switzerland), ArystaLifeScience (Japan) and Polaquimia (Mexico, a member of Polak Group).