ID: MRFR/AGR/3405-HCR | February 2021 | Region: Global | 110 pages
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.
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.
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.
Overuse of fungicides in crops causes harmful results which are declining the fungicides market growth.
The innovations in precision farming and organic cultivation create opportunities for the market growth.
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.
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.
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.
The prominent key players in the fungicides market trends are the following:
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.
The fungicides market outlook has been segmented globally based on the type, crop type, mode of application, and region.
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
Europe, Asia-Pacific, North America, and the rest of the world are the four major geographies included in this market.
|Market Size||USD 24.18 Billion|
|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||
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.