Pune, Iindia, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global fungicides market size was USD 17.71 billion in 2020 and is projected to grow from USD 18.43 billion in 2021 to USD 25.81 billion by 2028, exhibiting a CAGR of 4.93% during the forecast period (2021-2028). This information is provided by Fortune Business Insights™, in its report, titled, “Fungicides Market, 2021-2028.” According to our analysts, the rising resistance to the products has driven the necessity to present novel products that are likely to augment the implementation of fungicidal crop safety products.
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List of Key Players Covered in this Fungicides Market Report:
- Bayer AG (Leverkusen, Germany)
- BASF SE (Ludwigshafen, Germany)
- Syngenta AG (Basel, Switzerland)
- Corteva, Inc. (Delaware, U.S.)
- FMC Corporation (Pennsylvania, U.S.)
- Sumitomo Chemicals (Tokyo, Japan)
- UPL Ltd. (Mumbai, India)
- Nufarm (Melbourne, Australia)
- ADAMA Agricultural Solutions Ltd. (Ashdod City, Israel)
- Isagro SpA (Milan, Italy)
Fungicides are chemical or biological substances used to control, inhibit, or eliminate fungal diseases in plants, animals, or humans. Fungal diseases can have detrimental effects on agriculture, horticulture, forestry, and human health. Fungicides are an essential tool in managing these diseases and preventing economic losses and health issues.
COVID-19 Impact
Growing Demand & Supply Hindrance of Fungicide Products amid COVID-19 to Restrict Growth
The advent of COVID-19 pandemic has brought the production procedures of several industries to a dead end. Despite all the moderations in the lockdown guidelines, specific standards, such as social distancing and declination of workforce are compulsory to implement.
The commotion instigated by the COVID-19 pandemic in the movement of crop protection products, either from local or international providers to the farm level, has at present led to deteriorated productions.
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 4.93% |
| 2028 Value Projection | USD 25.81 billion |
| Market Size in 2021 | USD 18.43 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 150 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Fungicides Market Growth Drivers | Introduction of Novel Products Will Fuel Adoption of Fungicides |
| Outbreak of Several Diseases to Skyrocket Demand for Products |
Leading Players Featured in the Research Report:
Companies leading in Fungicides Market are Bayer AG (Leverkusen, Germany), BASF SE (Ludwigshafen, Germany), Syngenta AG (Basel, Switzerland), Corteva, Inc. (Delaware, U.S.), FMC Corporation (Pennsylvania, U.S.), Sumitomo Chemicals (Tokyo, Japan), UPL Ltd. (Mumbai, India), Nufarm (Melbourne, Australia), ADAMA Agricultural Solutions Ltd. (Ashdod City, Israel), Isagro SpA (Milan, Italy) and many more
Report Coverage
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data utilized to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
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Segmentation
On the basis of type, the market can be divided into chemical & biological. Chemical segment to emerge as a dominant segment owing to their high usage in developing nations.
On the basis of crop type, the global market is segregated into cereals, oilseeds & pulses, fruits & vegetables, & others
In terms of application method, the market is divided into foliar treatment, chemigation, seed treatments, & others
Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, & Middle East and Africa.
Drivers & Restraints
Outbreak of Numerous Sickness Conditions to Elevate Demand for Products
Climate change is a prime factor of worry for agricultural production across the globe. A modification in the climatic aspects has a substantial influence on crop production and the crops are vulnerable to ailments and pests. This, in turn, impacts crop health and triggers abnormalities in farming methods. Consequently, this is anticipated to bolster the fungicides market growth during the forecast period.
Regional Analysis
Asia Pacific to Lead Market Growth due to Expanding Agricultural Sector
Asia Pacific presently holds the largest fungicides market share and is projected to maintain its position throughout the forecast period. The rising agriculture industry, surging rice cultivation, and the increasing post-harvest damages are the primary aspects fueling the market in this region.
The U.S. is the major market in the North American region and is fueled by the growing launch of fungicides products and increasing struggle against active ingredients.
The European market will display significant demand in terms of the climatic fluctuations that are resulting in the commencement of several diseases.
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Competitive Landscape
Key Players Focus on Launching New Products & Acquiring Other Companies to Surge Sales
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to boost the brand value among users. Another effective strategy is intermittently launching innovative products with a comprehensive study of the market and its target audience.
The market comprises many companies that are regularly involved in research and development happenings to present groundbreaking fungicides. A few of them are also measuring the collaborations and procurement strategies to reinforce their position in the market.
Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain & Regulatory Analysis
- COVID Impact Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Global Fungicides Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Chemical
- Triazoles
- Dithiocarbamates
- Strobilurins
- Inorganics
- Chloronitriles
- Others
- Biological
- Chemical
- By Crop Type
- Cereals
- Oilseeds & pulses
- Fruits & vegetables
- Others
- By Application Method
- Foliar Treatment
- Chemigation
- Seed treatment
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
- By Type
TOC Continued…!
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