Colombia Agrochemicals Market Report and Forecast 2024-2032

Colombia Agrochemicals Market Outlook

The Colombia agrochemicals market size is expected to grow at a CAGR of 3.20% between 2024 and 2032, driven by the increasing awareness regarding the advantages of agrochemicals and rising demand for higher crop yields to meet growing food demands.

Key Trends in the Market

Agrochemicals refer to any chemicals employed in agricultural practices such as fertilisers, insecticides, and herbicides and include chemical growth agents and growth hormones, among others. In the agricultural sector, agrochemicals are used for managing over ecosystems, aiding in improving the nutrient content of the field and crops as well as in getting rid of damaging pests and insects.

• Rising utilisation of fertilisers in order to increase the crop yield to meet the food demands of the growing population is a key trend boosting the growth of the Colombia agrochemicals market. While fertilisers aid in increasing the fertility of the land, insecticides and pesticides aid in getting rid of harmful insects and pests damaging the crop.

• Growing animal feed and animal husbandry sectors are anticipated to positively impact the growth of the agrochemicals market in Colombia over the forecast period, increasing the demand for agricultural output for animal feed production.

• Altering nutritional and food requirements as increasing population shifts towards plant-based products is further expected to fuel the market for agrochemicals in Colombia. With more demand for plant-based products, there is additional pressure upon agricultural lands to increase crop yields.

• Increasing utilisation of crop protection chemicals to prevent crop damage and protect the plant from diseases is another crucial trend propelling the growth of the Colombia agrochemicals market. Crop protection chemicals help in controlling diseases and pests that might damage, infect, or consume the crops.

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Market Analysis

On the basis of type, the market is segmented into pesticide, fertiliser, adjuvants, and plant growth regulators. Pesticides are further divided by type into herbicides, insecticides, and fungicides, while fertilisers are subdivided by type into nitrogenous, phosphatic, and potassic. Based on nature, the Colombia agrochemicals market is bifurcated into synthetic and bio-based. By application the market is classified into grains and cereals, pulses and oilseeds, fruits and vegetables, and turf and ornamentals, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Colombia agrochemicals market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Bayer (Pty) Ltd

• Syngenta Colombia

• Corteva Agriscience

• Sumitomo Chemical Colombia S.A.S.

• INVESA S.A.

• Fedearroz

• Talanu Chemical

• SiembraCo

• SODIAK S.A.

• Others

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Market Share by Type

Pesticides account for a major portion of the Colombia agrochemicals market as their application has significantly increased over the last few years in Colombia. This increase can be attributed to rising attacks from various pests, as without using pesticides more than half of the crops would be lost to pest attacks. Pesticides aid in prolonging the life span of crops as well as protecting them from rodents, bugs, and mould, as well as harmful diseases. Additionally, pesticides also decrease the exposure of the crops to harmful and toxins micro-organisms which aid in preventing food-related illnesses. The resulting quality and quantity of the yield after the application of pesticides improves the ability of the yield to meet the food as well as nutrition requirements of the population.

Market Share by Nature

Rising health concerns and growing knowledge about the benefits of bio-based agrochemicals have resulted in their increased application in the agricultural sector in Colombia, increasing their demand in the Colombia agrochemicals market. Bio-based agrochemicals use natural and organic components for producing crop protecting and fertilising compounds and are significantly less likely to harm humans and animals. Biotechnological advancements enable bio-based agrochemicals to directly incorporate fungi and bacterial toxins into the plants in order to kill pests and infections. Bio-based agrochemicals are also less likely to damage fields and water bodies when used for agricultural activities, due to which they are increasingly preferred in Colombia.

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Competitive Landscape

Bayer (Pty) Ltd is a pharmaceutical company that was established in 1968 and is based in Johannesburg, South Africa. The company is committed towards developing a world where humankind and biodiversity thrive in harmony. They believe in collaboration of science and imagination in order to advance nutrition and health.

Syngenta Colombia is an agrichemical company that was established in 2000 and is headquartered in Bogota, Colombia. They are one of the leading providers of agricultural science and technology who aim to aid farmers to obtain maximum crop yield and improve the quality of their produce. Their key products are fungicides, herbicides, insecticides, and seed treatments.

Corteva Agriscience was founded in 2019 and is headquartered in Indiana in the United States. This seed and agrichemical company combines operational execution with industry leading innovations to deliver solutions for agriculture challenges across the globe. They are committed towards maximising farm productivity while enriching the lives of producers as well as consumers.

Other market players include Sumitomo Chemical Colombia S.A.S., INVESA S.A., Fedearroz, Talanu Chemical, SiembraCo, and SODIAK S.A., among others.

Key Highlights of the Report