Fungicides Market:
Growth opportunities in the Fungicides Market look promising over the next six years. This is mainly due to their increasing prominence among farmers to improve the quality of crops and to control the parasitic fungi causing crop and health hazards.
Fungicides Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand for exquisite crops, increasing crop infection, and the launch of new fungicide products are some of the prominent drivers stimulating the growth of the global fungicides market. Also, as per the fungicides market analysis, it has been witnessed that over 15% of staple crops provide nearly half of the calorie intake. Also, climate change accounts to be the main reason influencing plants in natural and agricultural ecosystems. Plant disease management is undergoing enormous challenges because of the depletion of marginally fertile lands, mounting demand for various foods to support the rising population, the competition of land in productive areas, and the surged threat of an epidemic. To serve the accelerating population’s demand, farmers are adopting fungicides for the crop to treat plants. The treated plants are more effective in photosynthesis than untreated ones. Thus, the growing crop diseases are supplementing the adoption of fungicides, which is further strengthening the fungicides market size. However, their expanding implication in plants has developed resilience against the chemicals among fungus, due to which these fungicides cannot protect plants. Thus, the high resistance of some fungus might hamper the market growth.
Application Segment Drivers
On the basis of application, the market is segmented into chemigation, seed treatment, foliar spray, soil treatment, and post-harvest. Among these, the post-harvest is projected to expand at a faster CAGR during the forecast period. The prevalence of minor injuries during traveling, packaging, and handling the items brings out several challenges for the fruits and vegetables or crops. These wounds become pervasive areas for fungicides; thereby, in order to evade such harmful events, farmers prefer to apply these fungicides post-harvesting.
Regional Drivers
Based on regional coverage, Asia Pacific is expected to lead the market over the forecast period. This is primarily attributed to the aggravating emphasis of the government to intensify the production and quality of crops. Moreover, the soaring demand for food products led by the growing population further fuels the market share.
Fungicides Market’s leading Manufacturers:
- Nufarm Agriculture Inc.
- Sumitomo Chemical Co., Ltd
- UPL Ltd
- Syngenta AG
- Bayer AG
- Isagro Spa
- Nippon Soda Co., Ltd.
- FMC Corporation
- Corteva, Inc.
- BASF SE
Fungicides Market Segmentation:
Segmentation by Type
- Biological
- Microbials
- Botanicals
- Chemical
- Triazoles
- Dithicarbamates
- Strobilurins
- Phenylamides
- Chloronitriles
- Others
Segmentation by Crop
- Cereals & Grains
- Corn
- Wheat
- Rice
- Others
- Oilseeds & Pulses
- Soyabean
- Cotton
- Others
- Fruits & Vegetables
- Apples
- Pears
- Grapes
- Cucumbers
- Potatoes
- Others
- Others
Segmentation by Mode of Application
- Foliar Spray
- Chemigation
- Seed Treatment
- Soil Treatment
- Post-Harvest
Segmentation by Mode of Action
- Contact
- Systemic
Segmentation by Active Form
- Liquid
- Dry
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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