Global Market for Pesticides Used in Soybeans

Today, about 76% of soybeans production is used as low-cost, quality protein for animal feed for meat and dairy production, 20% is consumed as edible oils and human food products (i.e., tofu, soy milk, and tempeh), and 4% is used for industrial purposes, primarily in the form of biodiesel.

The occurrence patterns of common soybean diseases and pests are complex, with a wide variety of species, which seriously affect the yield and quality of soybeans. There is a significant demand for pesticides in the soybean market. In 2019, the pesticide market for soybeans ranked second among all crop pesticide markets, second only to the pesticide market for fruits and vegetables. The global market for pesticides for crops in 2019 is shown in Table 1.

Table 1 Global Market for Pesticides for Crops in 2019 (US $100 million)

Data source: Phillips McDougall

Brazil is the largest pesticide market for soybeans in Latin America and globally, accounting for 57.1% of total pesticide sales for soybeans. The United States is the second-largest market for soybean pesticides globally, with a share of 15.8%. Argentina is the third-largest market for soybean pesticides, accounting for 14.1% of the market. China's soybean pesticide market represents 3.0% of the global soybean pesticide market, ranking fourth.

Table 2 Pesticide sales in the world's top five soybean growing countries in 2019 (US $100 million)

Data source: Phillips McDougall

Leading herbicides for soybeans

In 2019, the sales of herbicides for soybeans amounted to $4.401 billion, with a year-on-year growth of 0.1%, accounting for 47.14% of the global soybean pesticide market. Since 2014, the share of herbicide sales for soybeans has remained relatively stable. The top ten herbicide products for soybeans are: Glyphosate, Clethodim, Glufosinate-ammonium, Sulfentrazone, Paraquat, Flumioxazin, Dicamba, Haloxyfop, Imazethapyr, and Fomesafen (see Table 3).

Table 3 Leading herbicides and countries for soybeans in 2019

In 2019, the sales of herbicides for soybeans in Brazil amounted to $1.573 billion, with a year-on-year growth of 12.0%, ranking first in the global soybean herbicide market. In Brazil, the occurrence of grass weeds in soybean fields is more severe than broadleaf weeds, and Roundup tolerant varieties are planted more. The leading herbicides used for soybeans in Brazil are Glyphosate, Clethodim, Paraquat, Flumioxazin, Haloxyfop, Diclosulam, Fenoxaprop-ethyl, and Saflufenacil.

In 2019, the sales of herbicides for soybeans in the United States amounted to $1.129 billion, a significant decrease of 16.7% year-on-year, ranking second in the global soybean herbicide market. Approximately 94.1% of soybeans planted in the United States are herbicide-resistant varieties, with Glyphosate-resistant soybeans accounting for about 68.2% of the planting area. Herbicide use for soybeans in the United States is influenced by Glyphosate-resistant weeds, leading to a higher usage of selective herbicides. The leading herbicide used include Glyphosate isopropylamine salt, Glyphosate potassium salt, Glufosinate-ammonium, Paraquat, Sulfentrazone, Pyroxasulfone, S-metolachlor, Cloransulam-methyl, Fomesafen, Flumioxazin, Acetochlor, and Metribuzin.

The third largest national market for soybean herbicides is Argentina, where sales increased by 10.5% in 2019, reaching $884 million. Almost all soybeans planted in Argentina are Glyphosate-resistant varieties, and the herbicide usage is similar to that of the United States. Glyphosate dominates the herbicide market, with other major herbicide including Clethodim, Sulfentrazone, Haloxyfop, Paraquat, and Flumioxazin.

Leading Fungicides for soybeans

In 2019, the sales of fungicides for soybeans reached $2.602 billion, a year-on-year increase of 3.8%, accounting for 27.87% of the global soybean pesticide market. The compound annual growth rate from 2014 to 2019 was 0.2%. Asian soybean rust (Phakopsora pachyrhizi) frequently occurs in Latin America, leading to a generally stable and upward trend in the Latin American soybean fungicide market. In 2019, the increase in soybean planting areas in Brazil and Argentina drove the sales of soybean fungicides in Latin America to grow by 6.7% to $2.339 billion, representing 89.89% of the global soybean fungicide market. The top ten fungicides for soybeans are: Azoxystrobin, Prothioconazole, Benzovindiflupyr, Trifloxystrobin, Pyraclostrobin, Fluxapyroxad, Picoxystrobin, Cyproconazole, Mancozeb, and Epoxiconazole (see Table 4).

Table 4 Leading fungicides and countries for soybeans in 2019

In 2019, the Brazilian soybean fungicide market accounted for 78.7% of the global soybean fungicide market, with sales totaling $2.048 billion, a 6.9% increase compared to the previous year, mainly driven by product prices and an expansion in planting areas. Asian soybean rust is the most severe disease affecting Brazilian soybeans, with approximately 96% of sales used for its control. Over the past 5 years, the Brazilian soybean fungicide market has maintained a growth rate of 0.7%. Fungicides in Brazil are primarily used to combat Asian soybean rust, with leading fungicides including Azoxystrobin, Prothioconazole, Benzovindiflupyr, Trifloxystrobin, Pyraclostrobin, Mancozeb, Picoxystrobin, Cyproconazole, Fluxapyroxad, and Epoxiconazole.

In 2019, the United States ranked second in the global soybean fungicide market, with sales of $2.03 billion, a significant decrease of 19.1% compared to the previous year. The decline was mainly due to a reduction in planting areas and climate impacts. Leading fungicide in the U.S. include Fluxapyroxad, Pyraclostrobin, Azoxystrobin, Trifloxystrobin, Picoxystrobin, Difenoconazole, Propiconazole, Tetraconazole, Prothioconazole, Flutriafol, and Benzovindiflupyr.

In 2019, Argentina's soybean fungicide sales reached $175 million, a strong increase of 16.7% compared to the previous year, with a compound annual growth rate of -6.6% from 2014 to 2019. Unlike Brazil, Asian soybean rust is not the most severe disease affecting Argentine soybeans, as they are mainly troubled by frogeye leaf spot (Cercospora sojina). Leading fungicides in the Argentine market include Azoxystrobin, Cyproconazole, Difenoconazole, Pyraclostrobin, Picoxystrobin, Pydiflumetofen, and Epoxiconazole.

Leading Insecticides for soybeans

In 2019, the global soybean insecticide market had sales of $2.276 billion, a year-on-year increase of 6.8%. Despite the increasing trend in soybean planting areas, the compound annual growth rate of the global soybean insecticide market from 2014 to 2019 was -1.8%. The main reason for the declining trend in sales is the reduction in pest occurrences and the gradual increase in the application of genetically modified technology, especially in the major soybean-producing countries in Latin America. The top ten insecticides for soybeans are Thiamethoxam, Chlorantraniliprole, Imidacloprid, Fipronil, Acephate, Bifenthrin, Lambda-cyhalothrin, Chlorpyrifos, Flubendiamide, and Spinosad (see Table 5).

Table 5 Leading insecticides and countries for soybeans in 2019

In 2019, Brazil emerged as the largest national market for soybean insecticides globally, with sales reaching $1.658 billion, marking a 9.8% year-on-year increase primarily driven by the growth in planting areas. The compound annual growth rate of the Brazilian soybean insecticide market from 2014 to 2019 was -2.6%, with the market's continuous decline attributed to the gradual promotion of genetically modified technology. In 2019, the planting area of soybean seeds with insect and herbicide resistance traits (Intacta) in Brazil increased to 20 million hectares, accounting for 60% of the total planting area of genetically modified soybeans in the country. Leading insecticides for soybeans in Brazil include Thiamethoxam, Chlorantraniliprole, Fipronil, Imidacloprid, Acephate, Bifenthrin, Lambda-cyhalothrin, Flubendiamide, Spinosad, Acetamiprid, and Methomyl.

In 2019, Argentina secured the second position in the global soybean insecticide market. The Argentine soybean insecticide market witnessed a growth of 15.9%, reaching $2.55 billion, with a compound annual growth rate of -0.4% from 2014 to 2019. The planting area of GM soybeans in Argentina is steadily increasing, with the planting area of insect-resistant soybeans (Intacta RR2) approaching 2.9 million hectares. Leading insecticides for soybeans in Argentina include Imidacloprid, Chlorantraniliprole, Flubendiamide, Thiamethoxam, Chlorpyrifos, Lambda-cyhalothrin, Bifenthrin, Beta-cyfluthrin, Sulfoxaflor, and Dinotefuran.

In 2019, the soybean insecticide market in the United States experienced a significant decline in sales by 18.7%, dropping to $1.42 billion and ranking third in the global soybean insecticide market. The soybean aphids (Aphis glycines) remain a major pest in American soybeans, making insecticides crucial for controlling piercing-sucking pests in this market. The corn earworm (Helicoverpa zea) also poses a serious threat to American soybeans, with other major pests including soybean looper and stink bugs. Leading insecticides for soybeans in the United States include Chlorpyrifos, Chlorantraniliprole, Lambda-cyhalothrin, Acephate, Bifenthrin, Zeta-cypermethrin, Imidacloprid, Flubendiamide, Methoxyfenozide, Beta-cyfluthrin, and Cyfluthrin. 

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