Latin America Biopesticides Market Size, Scope, Growth, Competitive Analysis 2022

Precision Business Insights published a research report on "Latin America Biopesticides Market: By Product Type (Fungicides, Nematicides, Insecticides, and Herbicides), By Crop Type (Fruits & Vegetables, Grains & Oilseeds, and Others), By Origin (Botanical, Microbial, and Plant Incorporated Protectants), By Formulation (Liquid and Dry) - Global/Region/Country Forecast to 2028"

A biopesticide is an organic insect repellent made from naturally occurring compounds such as plants, microorganisms, and biochemicals. Some of the most often used biopesticides are bioherbicides, bioinsecticides, and biofungicides. They aid in the control of weeds, pests, and insects on crops and are typically sprayed as a foliar spray or straight into the soil for crop treatment. Biopesticides are fundamentally less hazardous than typical synthetic pesticides, offer permanent or long-term pest control, and are very effective even when administered in little amounts.

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The pesticide market in Latin America, including synthetic and biopesticides, is growing steadily, and the primary market drivers for the sector in the region include the adoption of herbicide-tolerant crops, expanding crop production areas, and improving agricultural output. However, severe pesticide residue limits on food crops imposed by the US Environmental Protection Agency and the European Union would restrict the use of synthetic pesticides on crops and increase demand for biopesticides in the region. While chemical or synthetic pesticides would continue to be widely used in Latin America, human, animal, as well as environmental medical issues would drive Biopesticides' rise. Latin America's emerging economies are poised to lead the way in pesticide and biopesticide usage. Greater use of biopesticides in favour of traditional chemical-based pesticides as a result of increased efficacy and customer confidence in their performance output are two major elements driving this trend.

The Latin America Biopesticides Market on the basis of Product Type, the market is segregated into Nematicides, Fungicides, Insecticides, and Herbicides. On the basis of Crop Type, the market is divided into Grains & Oilseeds, Fruits & Vegetables, and Others. On the basis of Origin, the market is fragmented into Microbial, Botanical, and Plant Incorporated Protectants. On the basis of Formulation, the market is bifurcated into Liquid and Dry.

During the forecast period, the Latin American biopesticides market is expected to grow at a CAGR of 14.9 percent. The government's encouragement for the use of biological pesticides, as well as restrictions on chemical fertilisers and growing awareness of their environmental impact, are driving demand for biopesticides. Countries in South America, such as Argentina and Brazil, are seeing consistent expansion in the biopesticide market as demand for healthier foods as well as organic farming grows.

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There are several industry players working in the Latin America Biopesticides Market, which include Becton, Dickinson & Company (U.S.) Medtronic (U.S.) Revolutions Medical Corporation (U.S.) Retractable Technologies, Inc. (U.S.) Royal Imtech N.V. (Smiths Medical) (Netherlands Terumo Corporation (Japan) Unilife Corporation (U.S.) Sol-Millennium Medical Group (China) Ultimed, Inc. (U.S.) Axel Bio Corporation (U.S.)

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