The total market accounted for 6.5% of the gross domestic product (GDP) in 2009, and it employs approximately 20% of the country's workforce.
The total Brazilian agrochemicals market, which was worth $19.00 billion in 2009, has been driven primarily by the sustained demand for agrochemicals, especially in cultures such as soybean and corn. There is an increasing pressure on farmers to expand crop yields, in order to supply sufficient food for the growing population, both globally as well as in Brazil.
The market is currently witnessing low, but consistent growth, which is characteristic of a mature market. The market is expected to grow further in the next five years. "Brazil is currently the third major exporter of agricultural products. As the global demand for food is increasing, the country is likely to become the leading exporter of agricultural products, as it is one of the few countries that have potential areas for cultivation expansion," explains Frost & Sullivan Chemicals, Materials & Food Research Team Leader Alessandra Lancellotti.
Although the market for agrochemicals is witnessing growth in Brazil, the local supply of raw materials and intermediate products is not sufficient. In 2009, more than 50% of raw materials and intermediate products for agrochemicals production were imported. Natural resources are available for a few companies, which results in a highly concentrated supply side.
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Agrochemicals Market in Brazil / N812-39