The Chile crop protection chemicals market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.31 % during 2023 – 2031.The growth of the market is attributed to increasing demand for solutions that can improve agricultural productivity. Moreover, the rising technological innovation in the crop protection sector is expected to spur the market growth.
Plant protection are defined as the steps taken to protect cultivated plants against diseases, pests, weed, and grasses. Various government subsidies issued to farmers have increased the demand for herbicides, insecticides, and fungicides in the country.
Market Drivers, Restraints, Trends, and Opportunities
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Decreasing arable land and growing population is anticipated to propel the market growth.
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Environmental and ecological damages, government regulations on agro chemicals, food safety issues, and increasing health concerns can restrain the market growth.
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The application of epigenetics in development of new fungicide formulation, digital farming tools, and precision farming with a calculated amount of chemicals to provide proper yield are anticipated to proliferate the growth of the market.
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Increasing number of government initiatives to raise the awareness about the benefits of crop protection chemicals is expected to boost the growth of the market during the forecast period. This, in turn, is speculated to create lucrative opportunities for industry players.
Scope of Crop Protection Chemicals Market Report
The report on the Chile crop protection chemicals market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Chile Crop Protection Chemicals Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023-2031
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Segmentation
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Origins (Synthetic Crop Protection Chemicals and Bio-based Crop Protection Chemicals), Product Groups (Insecticides, Herbicides, Fungicides, And Other Crop Protection Chemicals), and Application (Grains And Cereals, Oilseeds And Pulses, Fruits And Vegetables, Turf And Ornamentals, And Others)
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Geographic Zone
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Chile
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Anasac Chile SA, BASF Chile SA, Bayer SA, Sumitomo Corporation (Chile) Limitada, and Syngenta
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Chile Crop Protection Chemicals Market Segment Insights
Bio-based crop protection chemicals segment to account a major market share
Based on origins, the market is segregated into synthetic crop protection chemicals and bio-based crop protection chemicals. The bio-based crop protection chemicals segment is projected to account for a major market share during the forecast period.
The growth is attributed to the rising use of bio-based chemicals by farmers in the region and increasing awareness about damage caused by synthetic crop protection chemicals. Bio-based chemicals are proven to be safer to crops and better for soil potency, which is further driving the market segment.
Herbicides segment to account a significant market share
Based on product group, the market is divided into insecticides, herbicides, fungicides, and others. The herbicides segment is anticipated to account for a significant market share during the forecast period. Ongoing innovations in the development of herbicides is expected to have a positive impact on the market segment. Increasing awareness about its benefits is driving the growth of the segment. On the other hand, the others segment is expected to grow at a healthy rate in the projected timeline.
Grains and cereals segment to dominate market
Based on applications, the market is classified as grains and cereals, oilseeds and pulses, fruits and vegetables, turf and ornamentals, and others. The grains and cereals segment is expected to dominate the crop protection chemicals market. Increasing use of chemicals to protect the grains and cereals from pests such as locusts and bugs is expected to spur the segment growth.
Segments
Origins
- Synthetic Crop Protection Chemicals
- Bio-based Crop Protection Chemicals
Product Groups
- Insecticides
- Herbicides
- Fungicides
- Others
Applications
- Grains and Cereals
- oilseeds and Pulses
- fruits and Vegetables
- Turf and Ornamentals
- Others
Country
Key players
Competitive Landscape
Some of the major players in the market are Anasac Chile SA, BASF Chile SA, Bayer SA, Sumitomo Corporation (Chile) Limitada, Syngenta.
To improve product quality, companies in the country are mainly focusing on the development of new qualitative products, and developing new technologies. New product launches, partnerships, and mergers and acquisitions are the main strategies followed by the major players in the Chile crop protection chemicals market.
The top players constitute around 79% share of the market, while the other companies account for approximately 21% of the market share. In Chile, the crop protection chemicals market is quite competitive.
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