The ‘Colombia Agrochemicals Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Colombia agrochemicals market, assessing the market on the basis of its segments like type, nature, and application.
Colombia Agrochemicals Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.20%
Increasing population and expanding agriculture industry are the key factors driving the growth of the Colombia agrochemicals market. The increasing population is resulting in a higher focus on improving agricultural output to meet the domestic food needs. With a diverse climate and extensive fertile land, Colombia supports the cultivation of a wide range of crops, surging the demand for agrochemicals to boost crop yields and provide protection from pests.
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Advancements in agrochemicals have led to increased efficiency, further bolstering the Colombia agrochemicals market demand. Their role in boosting crop growth, controlling pests, and optimising crop yields have increased the adoption of agrochemicals by various farmers in Colombia. Government initiatives supporting the adoption of modern agricultural techniques are also heightening the use of agrochemicals as well as improving their accessibility. Implementation of precision agriculture and rising usage of genetically modified crops are anticipated to surge the demand for agrochemicals in Colombia further.
Partnerships between agricultural companies, research institutes, and farmers are increasing the development of specialised agrochemicals that cater to targeted crops or regions. In the coming years, the Colombia agrochemicals market expansion would be aided by increasing research and development efforts to develop agrochemicals targeted for local use, particularly for high-value speciality crops.
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Colombia Agrochemicals Industry Definition and Major Segments
Agrochemicals are those chemicals that are used in agricultural applications, to aid in crop growth and provide protection against pests. Common agrochemicals include adjuvants, fertilisers, plant growth regulators, and pesticides, and are designed to be safe for use on crops grown for consumption. Typically, agrochemicals contain active ingredients for the desired impact, and inert ingredients to stabilise the active ingredients.
Based on type, the market is divided into:
- Pesticides
- Breakup by Type
- Herbicides
- Insecticides
- Fungicides
- Breakup by Type
- Fertilisers
- Breakup by Type
- Nitrogenous
- Phosphatic
- Potassic
- Breakup by Type
- Adjuvants
- Plant Growth Regulators
On the basis of nature, the market is bifurcated into:
- Synthetic
- Bio-Based
By application, the market is segmented into:
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Turf and Ornamentals
- Others
Colombia Agrochemicals Market Trends
The rising focus on sustainability and environmentally-friendly agricultural practices are a key trend in the Colombia agrochemicals market increasing the demand for bio-based agrochemicals. These chemicals are derived from natural sources such as plant extracts, fungi, and bacteria, due to which they have a minimal negative impact on the environment and surroundings. As farmers in the country become more concerned about the sustainability of agriculture and its environmental impact, the demand for bio-based agrochemicals are rising.
In Colombia, crops are significantly susceptible to pests, with infestations capable of causing massive damage. Accordingly, there is an increasing demand for integrated pest management solutions, including agrochemicals for improved protection against pests. Integrated pest management solutions combine the use of targeted agrochemicals with other cultural and biological pest protection methods to preserve crops.
Rising awareness regarding safe usage of agrochemicals is another crucial trend in the Colombia agrochemicals market. Hesitation regarding the dangers of chemical usage can pose as a deterrent for using agrochemicals. To combat this hesitation, various initiatives and campaigns take place in the country to educate farmers about the safe use of agrochemicals and suitable agrochemicals for specific applications. Increasing adoption of digitalisation and various technologies by farmers would also surge the demand for agrochemicals at the earliest signs of poor crop performance.
Key Market Players
The major players in the Colombia agrochemicals market report are Bayer (Pty) Ltd, Syngenta Colombia, Corteva Agriscience, Sumitomo Chemical Colombia S.A.S., INVESA S.A., Fedearroz, Talanu Chemical, SiembraCo, and SODIAK S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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