Fungicides Market Segmented By Benzimidazoles, Triazoles, Dithiocarbamates, Chloronitriles, Phenylamides, Strobilurins type from Fruits, Vegetables, Cereals and Grains, Oilseeds Crop
Industry: Chemicals and Materials
Published Date: September-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP3387
The global fungicides market is projected to reach a valuation of US$ 30 Bn in 2032, up from its present market size of 18.5 Bn, expanding at a CAGR of 4.9% between 2022 and 2032.
Based on crop type, cereal and grains held the largest share in the market with 41% at the end of 2021.
| Attributes | Key Insights |
|---|---|
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Fungicides Market Size (2022E) |
US$ 18.5 Bn |
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Projected Sales of Fungicides (2032F) |
US$ 30 Bn |
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Global Market Growth Rate (2022-2032) |
4.9% CAGR |
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North America Market Share (2021A) |
28% |
Fungicide is a type of pesticide used to kill fungi or fungi spores. Fungicides find major use in the agricultural sector for crop protection. It is used to prevent damage to crops caused by the attack of fungicides. It gives a higher yield with better quality of the crops. It is also used to kill fungal infections in animals.
The use of fungicides differs according to the type of crop. Different types of fungicides available are translaminar, systemic and contact fungicides. The active ingredients include chlorothalonil, mancozeb, prochloraz, propicanazole, prochloraz, propicanazole, and many more.
One of the most common active ingredients in fungicides is sulfur. Some fungicides are dangerous to human health and so the major laws governing the use of fungicides in different countries are expected to hamper the growth of the global fungicides market in the near future. However, the global fungicides market is expected to witness moderate single-digit growth in the forecast period.
“Growing Demand for Fungicides for Crop Protection”
At present, there is an increased demand for fungicides around the world for the protection of crops to ensure higher crop yields. The shrinking arable land and rising demand for food products are estimated to fuel demand avenues in the industry.
“Increasing Global Population Demanding More Food Products”
There is a significant increase in the global population in recent years. This rising population further stimulates the requirement for food products to meet their daily requirements.
“Rising Diseases in Agriculture Driving Sales of Fungicides”
In addition, growing concerns to control many diseases among plants are expected to drive demand avenues in the industry. Further, the development of novel organic fungicides is also helpful for industry players to get a competitive edge in the market while providing effective solutions to consumers.
“Technological Advancements in Seeds Limiting Use of Fungicides”
At present, there is a noticeable increase in the incidences related to technological advancements in seeds and it further limits demand opportunities in the industry of fungicides.
The rising use of genetically modified crops is likely to hamper the growth opportunities in the market.
“Large Agricultural Business in East Asia Drives Growth Opportunities”
Out of six regional markets, East Asia holds the maximum share in the global market due to growing incidences of large agriculture businesses across the region. Among other regional countries, China is predicted to hold the maximum share in the global market in the near future.
European countries are predicted to use fungicides at an increased rate in the near future. The growing use of these fungicides is owing to the stringent regulatory authorities across the region.
The rising consumption of these fungicides in the Middle East & Africa is anticipated to demonstrate significant growth opportunities in the coming years.
Players dealing in the market are incorporating various strategies such as acquisitions, mergers, acquisitions, partnerships, agreements, novel product launches, and portfolio expansion to create more growth opportunities.
Some of the key players identified in the global fungicides market are BASF SE, Bayer AG, Syngenta AG, The Dow Chemical Company, E.I. Dupont De Nemours & Company, Cheminova A/S, Nufarm Ltd, and Chemtura Corporation.
| Attribute | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2017-2021 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report Coverage |
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Customization & pricing |
Available upon request |
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The fungicides market is estimated to reach a valuation of US$ 30 Bn by 2032.
Based on crop type, cereals and grains enjoy 41% share of the fungicides industry.
The global fungicides market is valued at US$ 18.5 Bn in 2022.
North America held 28% share of the global fungicides market share in 2021.
