The North American fungicides market size is expected to reach USD 5.73 billion in 2024 and reach USD 6.97 billion by 2029, growing at a CAGR of 4.0 % from 2024 to 2029.
Fungicides are a kind of pesticide used to kill fungi or other pests. Fungi result in mold, rot, or even disease. Before becoming a serious problem, farmers control fungi by using fungicides in agriculture. Fungicides can be either protectants or eradicants. In the course of recent years, fungicide usage has developed greatly in different types of plants, mainly fruits, vegetables, cereals, and rice.
The rising need for food security for the increasing population, increasing loss of crops due to fungal disease, increasing investment in research and development, shrinking arable land, and changes in farming practices are the factors strengthening the market. However, factors such as stringent regulatory conditions differ in countries, increase in environmental pollution, and shift to genetically modified seeds are limiting the growth of the fungicides market.
The North American fungicides market is dominated by key players like 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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