The Fungicides Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Fungicides Market is estimated to be USD 14.49 billion in 2016 and predicted to rise to USD 18.30 billion by 2021 with a CAGR of 4.78%. The Market is segmented by type (Synthetic fungicides (Benzimidazoles, Triazoles, Chloronitriles, Phenylamides, Strobilurins, Dithiocarbamates and others), Bio fungicides), Crop Type (Fruits and vegetables, Oilseeds, Pulses, Cereals and Grains and others), Form (Liquid, wettable powder, water dispersable powder), Mode of Application (Soil treatment, post-harvest, foliar spray, seed treatment and others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Rise in requirement for food security for the growing populace, and increment in crop loss attributable to contagious illnesses, increasing investment in research and development, change in farming practices are the major factors driving the market. Fungicides are used to get fantastic product yield for the growing populace and its growing food demand. However, factors such as dearth of education and awareness among the farmers and increase in environmental pollution, are restraining the growth of the fungicides market.
Cereals and grains has the highest share in the market and is anticipated to show at the highest CAGR in forecast period. Rise in popularity for Cereals and grains is attributable to the increased awareness about their nutritional advantages.
Geographically, Europe has a largest share in the market followed by Asia-Pacific. Europe is one of the biggest benefactors of the global fungicides because of the increase in use of fungicides through advanced agricultural techniques and rise in requirement for food security in the European nations. Italy and France constituted the biggest nation level markets in the European region.
The fungicides market is dominated by key players BASF SE, Dow AgroSciences LLC, Sumitomo Chemical Co., Ltd, Bayer CropScience AG, Syngenta AG, Nippon Soda Co. Ltd, Cheminova A/S, and Nufarm Ltd.
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