The coronavirus pandemic has altered business activities in almost all industries, including the Latin America soybean rust control market. Since food and agriculture are considered as essential businesses, stakeholders in the market are increasing efforts to ensure stable supply chains for goods. Since COVID-19 has made consumers more conscious about their health, stakeholders in the Latin America soybean rust control market are under scrutiny for ensuring food safety standards. This has established steady demand for protective and curative fungicides to make sure farmers deliver high crop yields.
The pandemic has increased the importance of high quality food products. Such trends are translating into revenue opportunities for companies in the market who are adapting to volatile demand & supply for soybean and other legumes. As such, poor market sentiments due to the pandemic has lowered the demand for food items.
Soybean rust (SBR) is being termed as one of the most serious diseases for the Paraguay’s economy. In order to prevent excessive financial losses due to SBR, farmers are utilizing fungicides. However, increasing fungicide costs are causing a problem in farmers’ income. Hence, companies in the Latin America soybean rust control market are focusing on R&D in SBR-resistant cultivars as a possible solution to the issue. Companies are expected to collaborate with researchers to investigate the effects of SBR-resistant cultivars on soybean farmers in Paraguay.
The SBR-resistant cultivars also have the potential to reduce environmental pollution to areas such as aquatic biota. Cost savings afforded by the dissemination of SBR-resistant cultivars are grabbing the attention of companies in the Latin America soybean rust control market.
SBR can cause significant yield reduction according to Glen Hartman, a USDA-ARS, a research plant pathologist at the University of Illinois at Urbana-Champaign that focuses on soybean diseases and pests. Collaborating with pathologists is one of the strategies being adopted by companies in the Latin America soybean rust control market to generate on the spot information about how to diagnose, manage, and reduce the impact of soybean rust. Companies are taking cues from research studies that involve the implementation of a program, which requires farmers to maintain a 90-day period free of soybeans before the next summer planting. This is being linked with reducing the over-seasoning production of spores by the causal fungus. Companies and private university programs are screening genetic material to identify new sources and combine known sources of genetic resistance to soybean rust.
Novel fungicides with active ingredients are being developed by manufacturers. Sumitomo Chemical Co., Ltd. - a Japan-based chemical company, has received the U.S. and Canadian regulatory approval for the registration of its new fungicide INDIFLIN® (inpyrfluxam) and two products utilizing this new fungicide as an active ingredient. Companies in the Latin America soybean rust control market are taking cues from such innovations to create a pipeline of active ingredients and products that can be submitted for registration in major markets.
In-house and external evaluations are being conducted by companies in the Latin America soybean rust control market to demonstrate the efficacy of fungicides with active ingredients against Asian soybean rust. Innovative fungicides are also being extended for use in rust on cereals, scab on apples, and foliar blight on sugar beets.
The prevention of plant pandemics is becoming essential after the COVID-19 outbreak. The real-time information sharing and data analytics is playing a key role in early detection of plant disease outbreaks. Companies in the Latin America soybean rust control market are capitalizing on this opportunity, since plant diseases do not stop at national borders and miles of oceans do not prevent their spread either. This explains why the market is expected to reach US$ 4.5 Bn by the end of the forecast period.
Techniques such as plant disease surveillance, global predictive disease modelling, and improved detection systems are contributing to the growth of the Latin America soybean rust control market.
In Latin America, significant rust development is associated with rain events. Apart from genetic resistance and cultural practices, the issue of rust has triggered the need of chemical & biological control. Such trends are favoring companies in the Latin America soybean rust control market. The use of foliar fungicides to manage this disease plays a critical role if the rust arrives before or during the susceptible development stages in soybean crop, which is from flowering through full seed.
Companies in the Latin America soybean rust control market are boosting their production capabilities in fungicides to help farmers manage soybean rust. However, it has been found that when fungicides are applied after 10% disease severity, the effectiveness of the fungicide is significantly reduced. This has led to the growing awareness regarding planting date and maturity, which influences the impact of soybean rust in some regions.
While the global demand for high quality food increases, fungi present a major reason for plant and yield damage among farmers in Latin America, causing a threat for high yields & food supplies in the region. BASF - a Germany-based multinational chemicals company, is gaining recognition for a strong record of success in developing fungicide classes. Companies in the Latin America soybean rust control market are taking cues from such findings and establishing continuous research for new active ingredients in fungicides that meet future needs of farmers.
Manufacturers are taking efforts to develop fungicides that deliver outstanding biological performance and a favorable regulatory profile that aligns with disease control. Thus, to expand revenue streams, manufacturers are innovating in fungicides that not only protect soybean but also grains and specialty crops.
Analysts’ Viewpoint
Information sharing, data analytics, and modelling have gained importance during the COVID-19 crisis in order to prevent potential plant pandemics and ensure food safety. The Latin America soybean rust control market is slated to clock a modest CAGR of 4.6% during the forecast period. This is evident since rising cost of fungicide is becoming a threat to farmers’ incomes. Hence, companies should gain continuous research proficiency in SBR-resistant cultivars that have the potential to significantly reduce current fungicide costs for farmers and establish a more sustainable agricultural industry. Innovations with active ingredients in fungicides are becoming a recurring trend in the market.
Latin America Soybean Rust Control Market: Overview
Latin America Soybean Rust Control Market: Key Takeaways
Latin America Soybean Rust Control Market: Trend
Increased Applications of Soybeans: Key Driver of Soybean Rust Control Market in Latin America
COVID-19 Impact on Soybean Rust Control Market in Latin America
Latin America Soybean Rust Control Market: Key Players
Latin America Soybean Rust Control Market – Segmentation
TMR’s study on the soybean rust control market offers information divided into important segments — type, species, fungiside and country. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
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1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product USPs / Features
4.2. Promotional Strategies
5. Latin America Soybean Rust Control Market Value Analysis (US$ Mn) 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Value (US$ Mn) Analysis, 2016-2020
5.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.1.1. Global GDP Growth Outlook
6.1.2. Global Industry Value Added
6.1.3. Global Urbanization Growth Outlook
6.1.4. Global Food Security Index Outlook
6.1.5. Global Rank – Ease of Doing Business
6.1.6. Global Rank – Trading Across Borders
6.2. Impact of COVID-19 on Brazil Nut Oil Market
6.2.1. Manufacturer/Processors
6.2.2. Supply Chain and Logistics
6.2.3. Wholesalers/Traders
6.2.4. End-Users
6.3. COVID-19 Impact on the Economy
6.3.1. Scenarios for the Economic Impact of the COVID-19 Crisis
6.3.2. The Impact of COVID-19 on Consumption and Economic Activity
6.3.3. Global Economic Growth – G10 Countries
6.3.4. Expected Effect of Pandemic on Economic Growth Rate
6.3.5. Economic Growth of Key Countries
6.3.6. Impact on the Real Economy
6.4. Global Agriculture Industry Outlook
6.5. Global Organic Agriculture Land Outlook
6.6. Durable Resistance to Soybean Rust can Boost Food Security
6.7. Disease Development Soybean Rust
6.8. Symptoms – Soybean Rust
6.9. Key Points to Check: Managing Soybean Rust
6.10. Key Sustainable Farming Methods
6.11. Soybean Area by Country
6.12. Soybean Yield per Hectare by Country
6.13. Soybean Yield per Hectare by Country
6.14. Soybean Yield per Hectare by Country, 2018
6.15. Grain Ingredients: Certifications
6.16. Soybean Trade Analysis
6.16.1. Key Importers
6.16.2. Key Exporters
6.17. Key Regulations
6.18. Supply Chain Analysis
6.19. Market Dynamics
6.19.1. Drivers
6.19.2. Restraints
6.19.3. Opportunity Analysis
6.20. Forecast Factors – Relevance Impact
7. Latin America Soybean Rust Control Market Analysis 2016-2020 and Forecast 2021-2031, By Type
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Mn) Analysis By Type, 2016 - 2020
7.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Type, 2021-2031
7.3.1.1. Liquid
7.3.1.2. Powder
7.4. Market Attractiveness Analysis By Type
8. Latin America Soybean Rust Control Market Analysis 2016-2020 and Forecast 2021-2031, By Species
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) Analysis By Species, 2016 - 2020
8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Species, 2021-2031
8.3.1. Phakopsora Meibomiae
8.3.2. Phakopsora Pachyrhizi
8.4. Market Attractiveness Analysis By Species
9. Latin America Soybean Rust Control Market Analysis 2016-2020 and Forecast 2021-2031, By Fungicide
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By Fungicide, 2016 - 2020
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Fungicide, 2021-2031
9.3.1. Protective
9.3.2. Curative
9.4. Market Attractiveness Analysis By Fungicide
10. Latin America Soybean Rust Control Market Analysis 2016-2020 and Forecast 2021-2031, By Country
10.1. Introduction
10.2. Historical Market Size (US$ Mn) Analysis By Country, 2016 - 2020
10.3. Current Market Size (US$ Mn) Analysis and Forecast By Country, 2021-2031
10.3.1. Brazil
10.3.2. Mexico
10.3.3. Argentina
10.3.4. Rest of Latin America
10.4. Market Attractiveness Analysis By Country
11. Market Structure Analysis
11.1. Market Analysis By Tier of Companies
11.2. Market Concentration
11.3. Market Share Analysis of Top Players
11.4. Market Presence Analysis
12. Competition Analysis
12.1. Competition Dashboard
12.2. Competition Benchmarking
12.3. Competition Deep Dive
12.3.1. Corteva Agriscience
12.3.1.1. Overview
12.3.1.2. Product Portfolio
12.3.1.3. Key Developments
12.3.1.4. Strategy Overview
12.3.1.5. Financial Overview
12.3.2. Bayer AG
12.3.2.1. Overview
12.3.2.2. Product Portfolio
12.3.2.3. Key Developments
12.3.2.4. Strategy Overview
12.3.2.5. Financial Overview
12.3.3. Syngenta
12.3.3.1. Overview
12.3.3.2. Product Portfolio
12.3.3.3. Key Developments
12.3.3.4. Strategy Overview
12.3.3.5. Financial Overview
12.3.4. Nufarm
12.3.4.1. Overview
12.3.4.2. Product Portfolio
12.3.4.3. Key Developments
12.3.4.4. Strategy Overview
12.3.4.5. Financial Overview
12.3.5. SIPCAM NICHINO BRASIL S/A
12.3.5.1. Overview
12.3.5.2. Product Portfolio
12.3.5.3. Key Developments
12.3.5.4. Strategy Overview
12.3.5.5. Financial Overview
12.3.6. UPL
12.3.6.1. Overview
12.3.6.2. Product Portfolio
12.3.6.3. Key Developments
12.3.6.4. Strategy Overview
12.3.6.5. Financial Overview
12.3.7. FMC Corporation
12.3.7.1. Overview
12.3.7.2. Product Portfolio
12.3.7.3. Key Developments
12.3.7.4. Strategy Overview
12.3.7.5. Financial Overview
12.3.8. BASF SE
12.3.8.1. Overview
12.3.8.2. Product Portfolio
12.3.8.3. Key Developments
12.3.8.4. Strategy Overview
12.3.8.5. Financial Overview
12.3.9. ADAMA Ltd.
12.3.9.1. Overview
12.3.9.2. Product Portfolio
12.3.9.3. Key Developments
12.3.9.4. Strategy Overview
12.3.9.5. Financial Overview
12.3.10. Ourofino Agrociência
12.3.10.1. Overview
12.3.10.2. Product Portfolio
12.3.10.3. Key Developments
12.3.10.4. Strategy Overview
12.3.10.5. Financial Overview
12.3.11. Sumitomo Chemical Co., Ltd.
12.3.11.1. Overview
12.3.11.2. Product Portfolio
12.3.11.3. Key Developments
12.3.11.4. Strategy Overview
12.3.11.5. Financial Overview
12.3.12. Albaugh, LLC.
12.3.12.1. Overview
12.3.12.2. Product Portfolio
12.3.12.3. Key Developments
12.3.12.4. Strategy Overview
12.3.12.5. Financial Overview
12.3.13. Nortox
12.3.13.1. Overview
12.3.13.2. Product Portfolio
12.3.13.3. Key Developments
12.3.13.4. Strategy Overview
12.3.13.5. Financial Overview
12.3.14. Rotam
12.3.14.1. Overview
12.3.14.2. Product Portfolio
12.3.14.3. Key Developments
12.3.14.4. Strategy Overview
12.3.14.5. Financial Overview
12.3.15. IHARA
12.3.15.1. Overview
12.3.15.2. Product Portfolio
12.3.15.3. Key Developments
12.3.15.4. Strategy Overview
12.3.15.5. Financial Overview
13. Assumptions and Acronyms Used
14. Research Methodology
List of Tables
Table 01: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis and Forecast by Type, 2015-2030
Table 02: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis and Forecast by Species, 2015-2030
Table 03: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis and Forecast by Fungicide, 2015-2030
Table 04: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis and Forecast by Country, 2015-2030
List of Figures
Figure 01: Latin America Soybean Rust Control Market Absolute $ Opportunity & Incremental Opportunity (US$ Mn), 2021–2031
Figure 02: Latin America Soybean Rust Control Market Value (US$ Mn) Forecast, 2021–2031
Figure 03: Latin America Soybean Rust Control Market Value Share Analysis by Type, 2020 E
Figure 04: Latin America Soybean Rust Control Market Y-o-Y Growth Rate by Type, 2021– 2031
Figure 05: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Type, 2016-2020
Figure 06: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Type, 2021–2031
Figure 07: Latin America Soybean Rust Control Market Value Share Analysis by Species, 2020 E
Figure 08: Latin America Soybean Rust Control Market Y-o-Y Growth Rate by Species, 2021– 2031
Figure 09: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Species, 2016-2020
Figure 10: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Species, 2021–2031
Figure 11: Latin America Soybean Rust Control Market Value Share Analysis by Fungicide, 2021 E
Figure 12: Latin America Soybean Rust Control Market Y-o-Y Growth Rate by Fungicide, 2021– 2031
Figure 13: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Fungicide, 2016-2020
Figure 14: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Fungicide, 2021–2031
Figure 15: Latin America Soybean Rust Control Market Value Share Analysis by Country, 2020 E
Figure 16: Latin America Soybean Rust Control Market Y-o-Y Growth Rate by Country, 2021– 2031
Figure 17: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Country, 2016-2020
Figure 18: Latin America Soybean Rust Control Market Value (US$ Mn) Analysis & Forecast by Country, 2021–2031
Figure 19: Latin America Soybean Rust Control Market Attractiveness Analysis by Country, 2021– 2031
Figure 20: Latin America Soybean Rust Control Market Attractiveness Analysis by Type, 2021– 2031
Figure 21: Latin America Soybean Rest Control Market Attractiveness Analysis by Species, 2021– 2031
Figure 22: Latin America Soybean Rest Control Market Attractiveness Analysis by Fungicide, 2021– 2031