In 2019, sales of agrochemicals in Mexico amounted to US$ 1.38 billion. The market has grown a lot in the past years. According to the Kleffmann Group, Mexico has considerably outperformed the global market growth rate, with a compound annual growth rate (CAGR) of 4.3% per annum from 2008 to 2018 compared to a more modest CAGR of 2.3% per annum for the global market over the same period. 

The total revenues of the top 10 leading companies (which includes multinationals) reached US$937 million, accounting for 68% of total market sales. 

According to a survey conducted by AgroPages, the top 10 local agrochemical companies created US$ 354 million in sales, accounting for 25.7% of the entire market. Velsimex and Dragón are leading agrochemical companies in Mexico, which achieved almost the same sales value in the last year. In total, these two companies account for 10% of the entire market share. 

Unlike the situation in other Latin American countries, Mexican local agrochemical companies have a significant market share and are not far behind leading multinationals in terms of sales.

From AgroPages