Mexico to Take Lead in Latin America Biocontrol Market in the Offing, Forecasts MicroMarketMonitor in Its New Report Available at MarketPublishers.com21 Jun 2016 • by Natalie Aster
LONDON – As of 2015, the value of the Latin American biocontrol market stood at almost USD 424 million. This regional market is set to gain momentum in the offing and to exceed USD 1 billion by 2021, registering a CAGR of 16.5% in the next 5 years. Rising awareness of biological crop protection products amid the local farmers, increasing population number, ongoing economic development, rising demand for organic food along with negative influence of chemical pesticides are the major growth driving forces of the Latin American biocontrol market.
In 2015, the Latin America biocontrol market was dominated by the bioinsecticides segment; while on the basis of origin this regional market was led by microbials segment, on the basis of mode of application – by the foliar spray segment, on the basis of formulation – by the liquid formulations segment, on the basis of application – be the fruit and vegetables segment.
In the years to come Mexico is likely to be the top country-wide market driving growth in the regional biocontrol market. Numerous biocontrol products manufacturers and suppliers operate in Mexico, they offer a wide range of products at very competitive prices. Owing to the strong demand for biocontrol products both in the domestic as well as neighboring markets, manufacturers increasingly explore higher profitability and trade opportunities across countries of the Latin American region. Mexico is anticipated to expand its market share through 2021 by competing with other country markets in the region due to growth in export of fresh avocadoes, tomatoes, papayas, beer, tequila and hot salsas.
One of the latest reports prepared by MicroMarketMonitor, “Latin America Biocontrol Market”, includes a comprehensive overview of the Latin America biocontrol market, providing a detailed guide to the market segmentation, dynamics (including drivers, restraints, challenges and opportunities) and regulative environment. Moreover, burning issues, the latest developments, top business strategies, the recent product launches, ongoing and emerging trends in the market are thoroughly explored in the report. In addition, the report gives five-year forecasts of the possible development of the Latin American biocontrol market.
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