Chile's import of herbicides, anti-sprouting products, and plant-growth regulators has displayed varying trends over the past decade. Rising from 15.039 million kilograms in 2013 to 20.563 million kilograms in 2023, this market has experienced fluctuations driven by factors such as agricultural demands, economic conditions, and trade policies. From 2013 to 2023, the market witnessed significant growth between 2016 and 2017 (19.62% and 26.71%, respectively), while also seeing occasional declines, notably in 2014 (-14.93%) and 2018 (-11.83%).
Year-on-year variations over the past two years show a steady, modest increase, with 2.61% in 2022 and 2.49% in 2023. The compound annual growth rate (CAGR) from 2018 to 2023 stands at 2.22%.
The forecast data from 2024 onwards indicate a consistent, gradual increase in import volumes, with a 5-year CAGR of 1.74%, suggesting a total growth rate of 9% by 2028. This suggests a stable upward trend, albeit at a slower rate compared to historical data.
Future trends to watch for include advancements in agricultural biotechnology, potential shifts in domestic production capabilities, and global trade dynamics, which could significantly influence import volumes. Furthermore, changing environmental regulations and pesticide policies might also impact this market.
