Fungicides Market Research Report - Global Forecast till 2027

Global Fungicides Market Research Report: Information by Type (Chemical Fungicides and Bio Fungicides), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), Mode of Application (Seed Treatment, Foliar, Soil Treatment, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2027

ID: MRFR/AGR/3405-HCR | February 2021 | Region: Global | 110 pages

Fungicides Market Overview


Global Fungicides Market is projected to reach USD 24.18 Billion by 2027 and is expected to register a 4.30% CAGR during the forecast period, 2019–2027. 


Fungicides are specially designed pesticides to control and prevent the fungal and spores diseases growth. These are majorly used for crop protection to maintain the yield and quality of crops. Balanced use of fungicides rises the growth of the production and storage life of harvested produce. Moreover, fungicides have various applications in agriculture, horticulture, and floriculture sectors for producing cereals & grains, oilseeds, vegetables, fruits, flowers, and many more crops.
COVID-19 Analysis:


To control the spread of the COVID-19, the government of various countries is imposed various regulations like semi or full lockdowns, transportation bans, supply chain disruptions, social distancing norms, education, and business sectors off, and many more. Due to these reasons, manufacturers are unable to manufacture the products by the shortage of raw materials and lack of workers.


Along with other sectors, the fungicides market was also severely impacted by the COVID-19 pandemic by the manufacturing halts, lockdowns, virus attacks on people, and other reasons. Due to the transportation barriers off, the products are not delivered to the endpoints and the supply of fungicides products are stopped importing and exporting which leads to a reduction in the production of fungicides products. After the completion of lockdown, rapidly the fungicides market growth increases for its growing usage in farming to control the fungal diseases. With the growing population and need for organic high-quality foods to sustain life in this pandemic situation, fungicides are required in farming.


Market Dynamics:


Drivers:


Growing cultivation of fruits and vegetables around the world may propel the growth of the fungicides market due to the high susceptibility of plants to fungal diseases. Increasing the adoption of advanced farming techniques, rising instances of fungal attacks on crops, lower cost of fungicides products, and the best results obtained by using the fungicides to control the fungal diseases compared to other products are the major factors that accelerate the growth of the fungicides market.


Restraint:


Overuse of fungicides in crops causes harmful results which are declining the fungicides market growth.


Opportunities:


The innovations in precision farming and organic cultivation create opportunities for the market growth.


Challenges:


Due to the lack of awareness of the adequate quantity of use of fungicide in farming and weak government regulations may raise the issues for the usage of synthetic fungicides. This is the major challenging factor of the global market.


Study Objectives



  • To provide detailed information about the fungicides market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the market value.

  • To analyze the market industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the fungicides market revenue for the main geographies.

  • To provide the country-level analysis of the current market size and future prospective.

  • To provide country-level analysis of the fungicides market industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global market research.


Segment Overview:

The global fungicides market has been divided into segments based on type, crop type, mode of application, and region.


Based on Type


The global fungicides market based on type is divided into two types as chemical fungicides and bio fungicides. The chemical fungicides are again sub-segmented into Dithiocarbamates, benzimidazoles, Triazoles, Phenylamides, and others. Among them, the bio fungicides segment is anticipated to be the fastest-growing segment for the presence of beneficial microorganisms which are used to control fungal diseases. These microorganisms are naturally found in the soil. So, bio fungicides are used in farming before the occurrence of diseases. It has different modes of action like exclusion, antibiosis, parasitism, induced resistance, and plant growth promotion.


Based on Crop Type


The global fungicides market is based on crop type classified into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Among these types, cereals & grains holds the largest fungicides market share during the forecast period due to the increase in the population and consequent rise in the demand for food materials. This increases the demand for usage of crop protection chemicals which further increases the demand for innovative fungicides.


Based on Mode of Application


The fungicides market is bifurcated into seed treatment, foliar, soil treatment, post-harvest, and others by mode of application. Out of these segments, the post-harvest is predicted to be the fastest-growing segment market due to the benefits offered by it. By the post-harvest losses in crops, most of the fungal infections are contributed. The post-harvest method is specially designed the reducing the fungicides amount used and also solve the problems related to wastewater disposal.


Based on Region


By region-wise, the global fungicides market is analyzed into Asia-Pacific, Europe, North America, and the rest of the world. Among these regions, Europe is dominating the market for the high adoption of nutrition techniques and growing demand for organic products.


Regional Analysis


Globally, the fungicides market based on the region is segmented into Asia-Pacific, North America, Europe, and the rest of the world. The high adoption of precision nutrition techniques and rising demand for organic products increase the need for pesticides in the European region and make it stand in the leading position in the global fungicides market.


Asia-Pacific is expected to register the significant CAGR during the assessment period for the presence of emerging countries India, Japan, and China which contributes to the high demand for fungicides. The requirement of high-quality agricultural products may propel the growth in this region. Nearly 90% of the global rice produced was consumed by this region. According to the Food and Agriculture Organization of the United Nations report, the demand for rice is expected to increase by 2025 for the increasing consumption of rice in the Asian Countries than the growth of the population. Moreover, due to the population growth, the demand for rice is expected to increase in the coming years.


Competitive Landscape


The prominent key players in the fungicides  market trends are the following:



  • ADAMA Agricultural Solutions Limited (Israel)

  • Bayer CropScience AG (Germany)

  • DowDupont (US)

  • Sumitomo Chemical Co., Ltd (Japan)

  • BASF SE (Germany)

  • Nufarm Limited (Australia)

  • Nippon Soda Co.Ltd (Japan)

  • Syngenta AG (Switzerland)

  • FMC Corporation (United States)

  • UPL Limited (India)

  • Marrone Bio Innovations Inc., (US)

  • Isagro Spa (Italy)

  • American Vanguard Corporation (US)

  • Bioworks Inc. (US)

  • Natural Industries (US)


Recent Developments


  • In November 2019, one of the key enterprisers ADAMA Agricultural Solutions Ltd announced the acquisition of the French-Swiss crop protection company, SFP based in Switzerland. Due to the ADAMA’s strong commercial network throughout the continent, SFP can increase its market presence in Europe by this acquisition and is expected to propel the growth of the SFP.

  • In June 2019, a populous vendor, FMC Corporation invested more than USD 50 million for the reconfiguration of a greenhouse and research facility at the FMC Company’s research and development center in Newark, Delaware, US.

  • In April 2019, STK Bio-ag Technologies partnered with Summit Agro U.S.A (US), becoming the exclusive distributor of STK agricultural products. Further, they market Timorex Gold, and Timorex acts for its customers in the US.


Report Overview:


These global fungicides market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the fungicides market drivers, restraints, challenges, and opportunities. The fungicides forecast segments are type, crop type, mode of application, and region.


Segmentation Table


The fungicides market outlook has been segmented globally based on the type, crop type, mode of application, and region.


By Type


Chemical fungicides and bio fungicides. Chemical fungicides sub segmented into benzimidazoles, Dithiocarbamates, Triazoles, Phenylamides, and others.


By Crop Type


These are Cereals & grains, Oilseeds & pulses, fruits & vegetables, and others.


By Mode of Application


Seed treatment, foliar, soil treatment, and others


By Region


Europe, Asia-Pacific, North America, and the rest of the world are the four major geographies included in this market.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 24.18 Billion
  CAGR   4.30% (2019-2027)
  Base Year   2018
  Forecast Period   2027
  Historical Data   2015-2017
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Crop Type and Mode of Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ADAMA Agricultural Solutions Ltd (Israel), Bayer Cropscience AG (Germany), DowDupont (US), Sumitomo Chemical Co., Ltd (Japan), BASF SE (Germany), Nufarm Limited (Australia), Nippon Soda Co. Ltd (Japan), Syngenta AG (Switzerland), FMC Corporation (United States), UPL Limited (India), Marrone Bio Innovations Inc. (US), Isagro Spa (Italy), American Vanguard Corporation (US), Bioworks Inc (US), and Natural Industries (US)
  Key Market Opportunities   Providing adequate disease control support and increasing crop productivity.
  Key Market Drivers

  • High demand for organic fruits and vegetables from the farmers.
  • increasing consumer awareness and growing demand for organic fruits, vegetables, cereals and pulses.


  • Frequently Asked Questions (FAQ) :


    fungicides market is expected to touch a value of USD 20.37 billion by 2024.

    fungicides market is expected to register a CAGR of 4.5% from 2019 to 2024.

    Cultivation of crops globally due to demand for foods is the major driver of the global fungicides market.

    Organic cultivation and precision farming can boost the global fungicides market revenue in the coming years.

    Europe is predicted to dominate the global fungicides market till 2024.

    Bayer Cropscience AG, American Vanguard Corporation, Bioworks Inc, Marrone Bio Innovations Inc., DowDupont, FMC Corporation, Natural Industries, UPL Limited, Nippon Soda Co. Ltd, Sumitomo Chemical Co., Ltd, Isagro Spa, BASF SE, ADAMA Agricultural Solutions Ltd, Syngenta AG, and Nufarm Limited are major players of the global fungicides market.