Fungicides Market

Fungicides Market Outlook (2022-2032)

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
Fungicides Market Size (2022E)	US$ 18.5 Bn
Projected Sales of Fungicides (2032F)	US$ 30 Bn
Global Market Growth Rate (2022-2032)	4.9% CAGR
North America Market Share (2021A)	28%

Product Overview

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.

What are the Factors Driving Market Growth of Fungicides?

“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.

How is the Fungicides Market Being Restrained to Some Extent?

“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.

Which Regional Fungicides Markets are Manufacturers Focusing On?

“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.

Industry Developments

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.

• BASF, in May 2030, launched Melyra across the Chinese market. This newly launched fungicide is from the series of Revysol and is designed to be used in grapes and tomatoes.

Key Fungicides Market Players

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.

Fungicides Industry Report Scope

Attribute	Details
Forecast period	2022-2032
Historical data available for	2017-2021
Market analysis	USD million for value
Key regions covered	North America Europe Latin America East Asia The Middle East & Africa South Asia & Pacific
Key countries covered	U.S. Canada the UK Germany France Spain Mexico Italy Japan China India New Zealand Malaysia Australia Thailand Brazil South Africa Saudi Arabia UAE
Key market segments covered	Type Crop Type Region
Key companies profiled	BASF SE Bayer AG Syngenta AG The Dow Chemical Company E.I. Dupont De Nemours & Company Cheminova A/S Nufarm Ltd. Chemtura Corporation
Report Coverage	Market Forecast Company Share Analysis Competition Intelligence DROT Analysis Market Dynamics and Challenges Strategic Growth Initiatives
Customization & pricing	Available upon request

Fungicides Industry Research by Category

By Type:

• Benzimidazoles
• Triazoles
• Dithiocarbamates
• Chloronitriles
• Phenylamides
• Strobilurins
• Others

By Crop Type:

• Fruits
• Vegetables
• Cereals and Grains
• Oilseeds
• Others

By Region:

• North America
• Europe
• Latin America
• East Asia
• The Middle East & Africa
• South Asia & Pacific

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