Fungicides Market Size – USD 18.40 billion in 2021, Growth – CAGR of 4.3%, Trends – Growth in population
The global fungicides market is expected to reach USD 27.11 Billion by 2030, according to a new report by Reports and Data. The growing occurrence of plant and crop diseases are driving the growth of the market. Diseases are a significant source of crop and plant damage, which may be caused by several plant pathogenic organisms. Fungi are the leading reason for crop loss across the globe. Diseases often have a substantial economic impact on quality and yield; hence disease management is an indispensable component of production for the majority of the crops. Fungicides, in general, find usage for disease control during the planting and growth of a crop, increased productivity, and reducing blemishes.
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Leading Players– BASF SE, FMC Corporation, Nufram, Bayer AG, Nissan Chemical Corporation, Nippon Soda Co. Ltd., Corteva Inc., Sumitomo Chemical Co. Ltd., Syngenta AG, and Isagro Spa, among others.
Further key findings from the report suggest
- By type, synthetic fungicides contributed to a larger market share in 2019 and are likely to grow at a rate of 4.0% in the forecast period. The availability of a variety of synthetic fungicides and ease of use are causative of the high market demand. Other benefits offered by this product type are higher crop quality, higher crop yields, and lower labor costs.
- By mode of action, contact fungicides are likely to grow at a rate of 5.2% in the forecast period. Contact fungicide or protectant functions by destroying the fungi when it comes in contact. Moreover, it prevents several other pathogens from getting into the tissue of plants.
- By application method, post-harvest is likely to grow at the fastest rate in the period 2020-2027. Some of the most significant crop losses owing to diseases occur post-harvest. Fungi frequently spoil stored vegetables, tubers, fruits, and seeds. A few which contaminate grains produce toxins capable of triggering severe illness or even death when consumed by humans and animals.
- By crop type, cereals & grains held the second-largest market size in 2019 and is likely to grow at a rate of 5.0% in the forecast period. An increase in population and the resulting rise in demand for food materials has resulted in an increase in the demand for crop protection chemicals, thus increasing the demand for novel fungicides solutions worldwide.
- Europe dominated the market in 2019 and is likely to grow at a rate of 3.9% in the forecast period. The market dominance of Europe is owing to the presence of leading market players in the region. Also, there is increased usage of fungicides in Europe for the protection of cereal crops.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Fungicides market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Fungicides market.
Type Outlook (Revenue, USD Billion; 2019-2030)
- Chemical
- Triazole
- Strobilurin
- Dithiocarbamates
- Chloronitrile
- Phenylamides
- Others
- Biological
- Microbial
- Botanical
Mode of Action Outlook (Revenue, USD Billion; 2019-2030)
- Systemic
- Contact
Application Outlook (Revenue, USD Billion; 2019-2030)
- Seed Treatment
- Soil Treatment
- Fruits & Vegetables
- Foliar Spray
- Chemigation
- Post-Harvest
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Fungicides market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Fungicides market over the forecast years?
- Which are the leading players in the global Fungicides market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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