Sarasota, FL, Sept. 29, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fungicides Market (Chloronitriles, Dithiocarbamates, Triazoles, Strobilurins, Benzimidazoles, Mancozeb and Others) for Fruit & Vegetables, Oilseeds & Pulses, Cereals & Grains and Other Crops: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global fungicides market was valued at USD 13.12 billion in 2016 and is expected to reach USD 17.58 billion in 2022, growing at a CAGR of 5.0% between 2017 and 2022.
Fungicides are the special kind of pesticides that are used for controlling the fungal diseases. It is primarily used for the crop protection. Additionally, fungicides are also used to maintain the yield and quality of the crops. Proper use of fungicides increases the production and storage life of harvested produce. Thus, the fungicides have extensive applications in agricultural, horticulture and floriculture sectors producing vegetables, fruits, oilseed, grains & cereals, flowers and other crops.
Browse through 99 Market Tables and 44 Figures spread through 110 Pages and in-depth TOC on "Global Fungicides Market: By Crop Type, Size, Share, Segments, Analysis and Forecast 2016 – 2022”.
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Based on the various types of fungicides, the global fungicides market is segmented into chloronitriles, dithiocarbamates, triazoles, strobilurins, benzimidazoles, mancozeb, and others. Among these, mancozeb was the leading segment in 2016 and it is also anticipated to be the fastest growing product segment of the market within the forecast period. This growth is attributed to the strong and rapid increase in demand for mancozeb, especially from China and India. Additionally, triazole was the second largest leading product segment of the global fungicides market in 2016. It accounted for more than 20% share of the total market. It is one of the active curative ingredients that are extensively used for each compound and it also has the ability to reduce production of pathogens that play a role in fungi sterol production. Thus, it is expected to witness the significant growth in the near future.
Fruit & vegetables, oilseeds & pulses, cereals & grains are key crop types of the global fungicides market. Fruit & vegetables were the most attractive crop type segment of the global fungicides and accounted for more than 40% share of the entire market size in 2016. Moreover, it is also considered to be the fastest growing segment in the near future due to the immense demand for fruit & vegetables around the world. Cereals & grains was the second largest crop type segment of the market in the same year. Furthermore, oilseeds & pulses are considered as an important outlet that intends to show the noteworthy growth of the market within the forecast period.
Browse the full " Fungicides Market (Chloronitriles, Dithiocarbamates, Triazoles, Strobilurins, Benzimidazoles, Mancozeb and Others) for Fruit & Vegetables, Oilseeds & Pulses, Cereals & Grains, and Other Crops: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/fungicides-market
In North America, the fungicides market is estimated to inflate at slight increase CAGR of 4.2% within the forecast period. This growth is expected due to enlarging stipulate of fruits & vegetables and cereals. During the past years, U.S. was the major contributor to the market. However, ban on some fungicides by Food and Drug Administration (FDA) such as carbendazim that causes diseases viz., cancer and sterility in human beings. Thus, due to this parameter, the fungicides market is likely to grow at a moderate rate during the years to come.
Earlier, in the past few years, Europe was dominating the market the for fungicides. Currently, it is a mature market for fungicides. Moreover, France was the major country and held more than 70% share of the region. During the forecast period, Europe is expected to witness a stagnant growth of fungicides market owing to stringent environmental rules and regulations. Bans on high volume fungicides by Environmental Protection Agency (EPA) are projected to inhibit the demand for fungicides in the region during the next few years.
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Asia Pacific held as a leading market for fungicides in 2016. China contributed as a major producer and supplier of fungicides in the region. Presence of a large number of fungicides manufacturers with huge production capacities is anticipated to augment market size in the near future. As Asia Pacific is an agro-based region including countries such as China, India, Thailand, Indonesia, Australia and Korea is likely to witness the exponential demand for fungicides during the future years. Growing global demand for fruits, vegetables, grains and cereals coupled with its growing exportation is expected to help to sustain the demand for fungicides within the forecast period.
During the period between 2017 and 2022, the Middle East and Africa are expected to be the fastest growing market for fungicides. This growth is predicted because of huge investments from UN welfare organizations. Moreover, South Africa is expected to high at fungicides consumption due to the increasing food security concerns in the region. Latin America is expected to experience a potential growth of fungicides over the years to come due to the emerging demand for grains and cereals, especially in Brazil and Argentina.
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Some of the major manufacturers of the global fungicides market include BASF SE, Adama Agricultural Solutions Ltd., Monsanto, Cheminova A/S, Bayer AG, Nufarm Ltd., E. I. Du Pont de Numerous and Company, FMC Corporation, DOW Agroscience LLC and Syngenta AG among others.
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The report segments the global fungicides market into:
Fungicides Market: Type of Fungicide Analysis
- Chloronitriles
- Dithiocarbamates
- Triazoles
- Strobilurins
- Benzimidazoles
- Mancozeb
- Others
Fungicides Market: Crop Type Analysis
- Fruits & Vegetables
- Oilseeds & Pulses
- Cereals & Grains
- Others
Fungicides Market: Regional Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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