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Soybean Rust Control Market

Soybean Rust Control Market (Type: Liquid and Powder; Species: Phakopsora meibomiae and Phakopsora pachyrhizi; and Fungicide: Protective and Curative) - Latin America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Food Security Concerns Establishing Steady Demand for Fungicides during Coronavirus Pandemic

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.

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SBR-resistant Cultivars V/S Fungicides: Which is Better?

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.

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Companies, Pathologists Join Hands to Identify Genetic Resistance to Soybean Rust

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.

Extensive Use of Fungicides with Active Ingredients for Rust in Cereals

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.

Plant Pandemics Being Prevented with Use of Predictive Disease Modelling Techniques

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.

Planting Date, Maturity Influences Impact of Soybean Rust in Some Regions

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.

Preference for Outstanding Biological Performance, Favorable Regulatory Profile in Fungicides

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.

latin america soybean rust control market segmentation

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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

  • The recent market study on Latin America soybean rust control market by Transparency Market Research, the market value for 2021 is estimated to be over US$ 2.8 Bn. The market is estimated to reach US$ 4.5 Bn by the end of 2031, at a CAGR of 4.6 % during the forecast period.
  • With rapid increase in population, there is heightened demand for food production with limited land resources and manpower, and climatic conditions that necessitate the use of inputs such as narrow genetic base, use of intensive farming systems, and high dose of pesticides, soybean rust control, and fertilizers

Latin America Soybean Rust Control Market: Key Takeaways

  • Based on type, the powder soybean rust control segmented is expected to share higher market value by the end of 2031. Latin America is estimated to hold ~88.8% share of the soybean rust control market.
  • In terms of species, the Phokopsora pachyrhizi segment is projected to account for higher market value. Phokopsora pachyrhizi segment holds around 81.3% share of the Latin America soybean rust control market.
  • In terms of fungicide, the protective segment is projected to hold high market value of ~US$ 1,968.4 Mn in 2021. With rising awareness, the demand for disease-free soybean, the rust control market is forecast to increase at a CAGR of 4.6%
  • In 2020, Brazil had the highest sales share around 68.7% at a growth rate of 5.2%. Brazil is expected to reach market value of US$ 3,281.3 by the end of forecast period.

Latin America Soybean Rust Control Market: Trend

  • Changing climatic conditions favoring disease occurrence in plants: Plant disease prevalence, occurrence, and severity have all been affected by climate change. Climate change has impacted crop protection products by altering the interactions between crops and diseases in a variety of ways. Changes in CO2 content and temperature have an impact on illness progression. Increased need for crop protection chemicals, food materials, and demand for novel fungicide solutions across geographies is a result of population growth. Reduced arable land, rising population, and the need to improve crop yields are all factors pushing the fungicide market. The introduction of new illnesses in plants and the resistance of diverse fungus to existing fungicides have prompted corporations to develop new medicines to combat new fungus mutations and reduce farmer losses. Fungicides are becoming increasingly used as a way to combat fungal infections. Consumer awareness of high-quality food that promotes excellent health and provides nutritional value has prompted them to adopt healthier eating habits. Soybeans are high in protein, nitrogen, phosphorus, and potassium, making them a valuable addition to any diet. Vegan diets are becoming increasingly popular in many nations throughout the world, which has increased demand for plant-based protein, which is abundant in soybeans. This element promotes consumer interest in soybeans and their different products, assisting in the growth of the soybean rust control industry.

Increased Applications of Soybeans: Key Driver of Soybean Rust Control Market in Latin America

  • With the rapid growth of the world's population, there is an increased demand for food production with limited land resources and manpower, as well as climatic conditions that necessitate the use of inputs such as a limited genetic base, intensive farming systems, and high doses of pesticides, soybean rust control, and fertilizers. Increased availability of food grains with plant protection measures and a higher dose of synthetic fertilizers is possible due to the application of science and technology in agricultural products. With increased use of pesticides, fungicides, and soybean rust management, advancements in agricultural research and development have aided in the implementation of control measures for managing pests and diseases.
  • Brazil is one of the world's greatest soybean producers, with 35.15 million hectares dedicated to the crop. This is due to a variety of characteristics that help the crop thrive, including a semi-arid climate, fertile soil, abundant rainfall, and excellent technology. Brazil is also the world’s top exporter of soybeans, earning significant revenue for the government. Soybean rust can cause output losses of up to 80% in soybeans; hence, there is a considerable demand for soybean rust prevention in Brazil.
  • The growing global population is a primary factor in increased food production, which has resulted in an increase in pesticide use. Aside from cereals, soybean is a high-protein food that can be utilized as a lactose substitute. The soybean plantation has been plagued by a disease known as soybean rust for many years.

COVID-19 Impact on Soybean Rust Control Market in Latin America

  • As the COVID-19 virus spreads over the world, most industries are experiencing a halt. COVID-19 has had an impact on both supply and demand channels, as well as all aspects of the food system, from primary supply to processing, commerce, national and international logistics systems, intermediate, and ultimate demand. Many fungicide manufacturers were compelled to suspend operations as a result of the COVID-19 outbreak, in order to comply with new government regulations. The revenue flow of the fungicide market is directly affected by this interruption in operations.
  • The supply chain bottleneck of raw materials and intermediates caused by COVID-19 has an impact on manufacturers. During the early months of the pandemic, the cost of logistics jumped dramatically. As a result of the ongoing COVID-19 pandemic, businesses have had to reconsider their business plans.

Latin America Soybean Rust Control Market: Key Players

  • Leading market players such as
    • Bayer AG
    • Syngenta
    • SIPCAM NICHINO BRASIL S/A
    • Corteva Agriscience
    • Nufarm
    • UPL
    • BASF SE
    • ADAMA Ltd
    • others
  • are focused on the development of new soybean rust control products with more effectiveness. Thus, key players in the global soybean rust control market are focused on increasing investments in research & development to innovate and develop advanced soybean rust control products.
    • BASF SE invests in R&D continuously and develops pipeline to expand the conventional crop protection portfolio. In 2018, it invested US$ 679 Mn in R&D for agricultural solutions.

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.

Type
  • Liquid
  • Powder
Species
  • Phakopsora meibomiae
  • Phakopsora pachyrhizi
Fungicide
  • Protective
  • Curative
Country
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

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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

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