Global Fungicides Market
The GMI Research forecasts that the Fungicides Market is witnessing an upsurge in demand over the forecast period. 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.
Introduction of the Fungicides Market:
Fungicide refers to a toxic substance used to kill or prevent the growth of fungi. It is extensively used to control parasitic fungi that causes economic damage to ornamental plants, crops, and risks the health of animals and humans. The horticulture and agricultural fungicides are employed as dust or sprays.
Key Players of the Global Fungicides Market:
- 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 Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
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.
Type Segment Drivers
On the basis of type, biological may witness a faster growth in the coming years because of the rising emphasis to evade risks on human health and environmental pollution. Additionally, because of their increasing implication pathogens have become resistant to chemicals, farmers have shifted to bio fungicides.
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 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)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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