Fungicides Market Size, Share & Trends and forecast 2024-2032| Sumitomo Chemical Co. Ltd (Japan), PI Industries (India), FMC Corporation (USA),ADAMA Ltd. (Israel)
The Global Fungicides Market size is expected to grow from USD 20.45 billion in 2022 to USD 28.64 billion by 2030, at a CAGR of 4.3% during the forecast period (2023-2030).
Fungicides
are the type of pesticides that are widely used to kill fungi and fungi spores,
control rust, mildew, and blights, and prevent crops from any fungal infection.
The rising demand for fungicides is found majorly in high-value crops, such as
grapes, pome fruits, cotton, tomato, maize, and other ornamental &
vegetable crops, as they help in improving crop quality and yield. The
increasing prevalence of various harmful crop diseases, changes in
environmental conditions, rising health concerns among farmers, and growing
awareness regarding the benefits of using fungicides are driving factors in the
fungicides market.
Top Key Players in Fungicides Market:
Sumitomo Chemical
Co. Ltd (Japan), PI Industries (India), FMC Corporation (USA), ADAMA Ltd.
(Israel), BASF SE(Germany), UPL(India), Bayer AG (Germany), Syngenta
AG(Switzerland), The Dow Chemical Company (US), Cheminova A/S(Denmark), Chemtura
Corporation (US), Bioworks Inc (United States), American Vanguard Corporation
(US) and other major players.
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Market Dynamics and Factors for Fungicides
Market:
Drivers:
The upsurge of Several Harmful Diseases
The impact of
climate change on global agricultural production is very serious. Any abrupt
changes in the climate may have a negative impact on crop production and lead
to the emergence of different pests and diseases. Crops are vulnerable to the
development of harmful fungal diseases and fungi on the plant as a result of
such temperature changes and an increase in atmospheric moisture content.
Farmers tend to use fungicides appropriately in order to prevent crop losses
caused by fungi. Many different products are used to protect crops from fungal
infections and to increase crop yield, including bio fungicides,
dithiocarbamate, benzimidazoles, triazoles, and diazoles.
Opportunities:
Application of bio fungicides and Precision
Farming
The market for
organic products has grown significantly over the past few years, and to meet
this demand, growers and manufacturers are leaning toward organic and precision
farming methods as well as making the most of bio fungicides for crop growth.
Additionally, rapid urbanization is driving a trend toward the use of
biological fungicides to maximize crop yields, reduce fungi-related losses, and
grow natural, chemical-free goods. Over the projected years, there will likely
be lucrative opportunities for the fungicides market due to the increase in
demand for bio fungicides and the use of precision farming techniques for
better crop quality and yield.
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Segmentation Analysis of the Fungicides Market:
By Type
·
Chemical
·
Biological
By Crop type
·
Cereals and Grains
·
Oilseeds and Pulses
·
Fruits and Vegetables
By Mode of Application
·
Seed treatment
·
Foliar spray
·
Soil treatment
·
Post-harvest
Regional Analysis of the Fungicides Market:
By Region:
·
North America
(U.S., Canada, Mexico)
·
Eastern Europe
(Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern
Europe)
·
Western Europe
(Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western
Europe)
·
Asia-Pacific
(China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The
Philippines, Australia, New Zealand, Rest of APAC)
·
Middle East & Africa
(Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
·
South America
(Brazil, Argentina, Rest of SA)
Key Benefits for Industry Participants
& Stakeholders:
•
Industry
drivers, restraints, and opportunities covered in the study
•
Neutral
perspective on the market performance
•
Recent
industry trends and developments
•
Competitive
landscape & strategies of key players
•
Potential
& niche segments and regions exhibiting promising growth covered
•
Historical,
current, and projected market size, in terms of value
•
In-depth
analysis of the Fungicides Market
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