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.
Notes to readers: It has been the second year for AgroPages to release these ranking lists of local agrochemical companies in Latin American countries. We aim to present, to readers, the general view of leading local companies in the region’s markets, to help anyone interested in learning more about the competition structure of the industry, as well as to offer information on potential partners in the market to new players.
Companies included in these lists may be partly acquired or controlled by companies from other countries. However, we still consider them as local companies, because according to the Company Law, they continue to be incorporated in the local country. We appreciate very much all individuals and companies who provided us with information, and we welcome comments on these ranking lists from our readers. Please contact: email@example.com
This ranking was initially published in AgroPages '2020 Latin America Focus' magazine. We also published ranking list of Top 10 Local Agrochemical Companies in Brazil, Argentina and Colombia, download the magazine to read more.