Fungicides Market

Fungicides Market Size, Growth (2022 - 2027):

Fungicides Market was worth USD 16.49 billion in 2021 and is expected to reach USD 20.30 billion by 2026 with a CAGR of 4.78 %. This market is developing at a high pace because of the increase in crop loss due to infections and rising food quality concerns of a growing population. Fungicides are a type of pesticides that are particularly used to kill the fungi/fungi spore which restricts the growth of crops. The use of fungicides differs based on the crop type. The active ingredients in the fungicides include mancozeb, prochloraz, chlorothalonil, propiconazole e.t.c. Sulfur is the most common ingredient in fungicides and is very toxic.

Rising need for food security for the increasing population, increasing loss of crop due to fungal disease, increasing investment in research and development, shrinking arable land, change in farming practices are the major factors boosting the market. However, factors such as stringent regulatory conditions differ in countries, an increase in environmental pollution, and shift to genetically modified seeds are hampering the growth of the fungicides market.

FUNGICIDES MARKET REPORT COVERAGE:

Market Segmentation:

Fungicides Market – By Type:

• Synthetic

  • Benzimidazoles
  • Triazoles,
  • Chloronitriles
  • Phenylamides
  • Strobilurins
  • Dithiocarbamates
  • others
• bio fungicides

Fungicides Market – By Crop Type:

• Fruits and vegetables
• Oilseeds
• Pulses
• Cereals and Grins
• and others.
• Based on Form, the market is segmented into
• Liquid,
• Wettable powder,
• water dispersible powder.

Fungicides Market – By Application:

• Soil treatment
• post-harvest
• foliar spray
• seed treatment
• others

Cereals and grains have the largest share in the market and are expected to show the highest CAGR during the forecast period.

Based on Geography, this market is further segmented into

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Europe has the largest share in the market followed by Asia-Pacific. Europe is one of the biggest markets due to the increasing usage of fungicides, advanced agricultural techniques, and the rise in requirement for food security in the European nations. Italy and France constituted the biggest nation-level markets in the European region.

Key Players:

The key players in the market are BASF SE, Dow AgroSciences LLC, Sumitomo Chemical Co., Ltd, Bayer CropScience AG, Syngenta AG, Nippon Soda Co. Ltd, Cheminova A/S, and Nufarm Ltd