The fungicides market size has grown strongly in recent years. It will grow from $22.83 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth observed in the historical period can be attributed to several factors, including the need for crop protection, the expansion of crop cultivation, prevailing climate conditions, and effective management of pesticide resistance.
The fungicides market size is expected to see strong growth in the next few years. It will grow to $33.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to various factors such as the increasing global population, the impact of climate change on agriculture, the adoption of integrated pest management (IPM) practices, the use of biofungicides and biotechnology in disease control. Additionally, notable trends in the forecast period include the development of sustainable fungicides, advancements in precision application technologies, the promotion of biological disease control methods, and strategies to manage fungicide resistance.
Farmers worldwide are increasingly embracing intensive farming practices to enhance crop productivity per unit of land, which, in turn, is fueling the demand for pesticides and other agricultural chemicals. Intensive farming represents a method of agricultural intensification and mechanization aimed at optimizing yields by utilizing extensive amounts of pesticides and chemical fertilizers. These techniques are essential for meeting the growing food demands of the expanding global population and averting food shortages. Intensive farming practices, including monoculture, are significant drivers of pesticide demand. Monoculture involves the concentrated cultivation of a single crop over a large expanse, leading to soil nutrient depletion and heightened reliance on pesticides.
The primary classifications of fungicides are synthetic fungicides and bio-fungicides. These fungicides are employed to combat fungal diseases by taking action against fungi and their spores. They comprise various active ingredients such as dithiocarbamates, benzimidazoles, chloronitriles, triazoles, phenylamides, strobilurins, and other substances. Fungicides are applied through methods such as seed treatment, soil treatment, foliar spray, chemigation, and post-harvest treatments. These fungicides find applications in diverse areas, including cereals and grains, oilseeds and pulses, fruits and vegetables, as well as other agricultural uses.
The fungicides market research report is one of a series of new reports that provides fungicides market statistics, including fungicides industry global market size, regional shares, competitors with a fungicides market share, detailed fungicides market segments, market trends and opportunities, and any further data you may need to thrive in the fungicides industry. This fungicides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing incidence of plant diseases is anticipated to drive the growth of the fungicide market in the coming years. Plant diseases refer to health disorders that disrupt the normal functioning, growth, and development of plants. Fungicides play a crucial role in the control and prevention of fungal-induced plant diseases through various methods, including disease prevention, seed treatment, post-harvest protection, ultimately leading to enhanced agricultural productivity. For example, in June 2022, as reported by the Food and Agriculture Organization, an agency of the United Nations based in Italy, up to 40% of the world's food production is estimated to be lost to pests annually. Additionally, the global economy suffers losses of over $220 billion each year due to plant diseases, with invasive insects causing at least $70 billion in damages. As a result, the increasing prevalence of plant diseases is a key driver of the fungicide market.
The increasing popularity of organic food products is poised to have a negative impact on the fungicide market. This trend is driven by evolving consumer preferences and a growing demand for organic foods. Organic food products are cultivated using farming methods that abstain from the use of fungicides. For example, in December 2021, the Plant-Based Foods Association, a US-based industry organization, reported a 6.2% growth in plant-based food sales in 2021, building upon a record-breaking year of growth in 2020. Consequently, the surging demand for organic food products is expected to curtail the usage of fungicides in crop cultivation, which will in turn restrict the growth of the fungicide market.
The high demand for inorganic fungicides in developing agricultural nations like China, Brazil, and India can be attributed to their cost-effectiveness compared to organic fungicides. Several factors are propelling the growth of this market, including rapid population expansion, diminishing arable land, limited regulatory oversight, and an increasing need for high-quality fruits and vegetables. Inorganic fungicides are produced from readily available and easily manufacturable elements, resulting in a substantially lower cost. The market is anticipated to be driven in the forecast period by farmers in these developing regions who procure substantial quantities of inorganic fungicides.
Major companies in the fungicides market are dedicated to advancing their product offerings, such as the introduction of innovative solutions like the next generation of Potato Fungicides, to enhance their market positions. Potato fungicides are specialized chemical substances or formulations designed to manage and prevent fungal growth that can harm potato crops. An example of this is Corteva Inc., a US-based chemical company, which introduced the Zorvec Encantia Novel Generation of Fungicide for Potatoes in May 2022. This new generation of potato fungicides features a distinct mode of action, offering consistent control, safeguarding new plant growth, high efficacy, low toxicity, and a favorable environmental profile. It provides protection to treated leaves as they grow and expand, even when the treatment is applied to leaves at just 20% of their full size.
In May 2022, the Indian chemical industry company, UPL Limited, completed the acquisition of OptiCHOS, a naturally-derived fungicide, from BioCHOS for an undisclosed sum. This strategic acquisition was made to bolster UPL's natural plant protection (NPP) business division, and in the coming years, NPP will introduce a range of products featuring OptiCHOS. BioCHOS, on the other hand, is a Norway-based company specializing in plant protection products.
Major companies operating in the fungicides market include American Vanguard Corporation, BASF SE, Bayer AG, Bioworks Inc., Dow AgroSciences LLC, DuPont de Nemours Inc., FMC Corporation, Marrone Bio Innovations Inc., Nufarm Ltd., Sumitomo Chemical, Syngenta International AG, UPL Limited, Cheminova A/S, Lanxess AG, Corteva Inc., Isagro SpA, Nippon Soda Co. Ltd., Certis USA LLC, Valent BioSciences LLC, Arysta LifeScience Corporation, Sipcam Agro USA Inc., Gowan Company LLC, Albaugh LLC, Rotam CropSciences Ltd., Sharda Cropchem Limited, PI Industries Limited, Adama Agricultural Solutions Ltd., Agbiochem Inc., Jiangsu Yangnong Chemical Co. Ltd., Kumiai Chemical Industry Co. Ltd., Novozymes A/S
Asia-Pacific was the largest region in the fungicides market in 2023. South America was the second-largest region in the global fungicides market. The regions covered in the fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the fungicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The fungicides market consists of the sales of captan, folpet, dithiocarbamates, pentachlorophenol, and mercurial fungicides. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The fungicides market size is expected to see strong growth in the next few years. It will grow to $33.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to various factors such as the increasing global population, the impact of climate change on agriculture, the adoption of integrated pest management (IPM) practices, the use of biofungicides and biotechnology in disease control. Additionally, notable trends in the forecast period include the development of sustainable fungicides, advancements in precision application technologies, the promotion of biological disease control methods, and strategies to manage fungicide resistance.
Farmers worldwide are increasingly embracing intensive farming practices to enhance crop productivity per unit of land, which, in turn, is fueling the demand for pesticides and other agricultural chemicals. Intensive farming represents a method of agricultural intensification and mechanization aimed at optimizing yields by utilizing extensive amounts of pesticides and chemical fertilizers. These techniques are essential for meeting the growing food demands of the expanding global population and averting food shortages. Intensive farming practices, including monoculture, are significant drivers of pesticide demand. Monoculture involves the concentrated cultivation of a single crop over a large expanse, leading to soil nutrient depletion and heightened reliance on pesticides.
The primary classifications of fungicides are synthetic fungicides and bio-fungicides. These fungicides are employed to combat fungal diseases by taking action against fungi and their spores. They comprise various active ingredients such as dithiocarbamates, benzimidazoles, chloronitriles, triazoles, phenylamides, strobilurins, and other substances. Fungicides are applied through methods such as seed treatment, soil treatment, foliar spray, chemigation, and post-harvest treatments. These fungicides find applications in diverse areas, including cereals and grains, oilseeds and pulses, fruits and vegetables, as well as other agricultural uses.
The fungicides market research report is one of a series of new reports that provides fungicides market statistics, including fungicides industry global market size, regional shares, competitors with a fungicides market share, detailed fungicides market segments, market trends and opportunities, and any further data you may need to thrive in the fungicides industry. This fungicides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increasing incidence of plant diseases is anticipated to drive the growth of the fungicide market in the coming years. Plant diseases refer to health disorders that disrupt the normal functioning, growth, and development of plants. Fungicides play a crucial role in the control and prevention of fungal-induced plant diseases through various methods, including disease prevention, seed treatment, post-harvest protection, ultimately leading to enhanced agricultural productivity. For example, in June 2022, as reported by the Food and Agriculture Organization, an agency of the United Nations based in Italy, up to 40% of the world's food production is estimated to be lost to pests annually. Additionally, the global economy suffers losses of over $220 billion each year due to plant diseases, with invasive insects causing at least $70 billion in damages. As a result, the increasing prevalence of plant diseases is a key driver of the fungicide market.
The increasing popularity of organic food products is poised to have a negative impact on the fungicide market. This trend is driven by evolving consumer preferences and a growing demand for organic foods. Organic food products are cultivated using farming methods that abstain from the use of fungicides. For example, in December 2021, the Plant-Based Foods Association, a US-based industry organization, reported a 6.2% growth in plant-based food sales in 2021, building upon a record-breaking year of growth in 2020. Consequently, the surging demand for organic food products is expected to curtail the usage of fungicides in crop cultivation, which will in turn restrict the growth of the fungicide market.
The high demand for inorganic fungicides in developing agricultural nations like China, Brazil, and India can be attributed to their cost-effectiveness compared to organic fungicides. Several factors are propelling the growth of this market, including rapid population expansion, diminishing arable land, limited regulatory oversight, and an increasing need for high-quality fruits and vegetables. Inorganic fungicides are produced from readily available and easily manufacturable elements, resulting in a substantially lower cost. The market is anticipated to be driven in the forecast period by farmers in these developing regions who procure substantial quantities of inorganic fungicides.
Major companies in the fungicides market are dedicated to advancing their product offerings, such as the introduction of innovative solutions like the next generation of Potato Fungicides, to enhance their market positions. Potato fungicides are specialized chemical substances or formulations designed to manage and prevent fungal growth that can harm potato crops. An example of this is Corteva Inc., a US-based chemical company, which introduced the Zorvec Encantia Novel Generation of Fungicide for Potatoes in May 2022. This new generation of potato fungicides features a distinct mode of action, offering consistent control, safeguarding new plant growth, high efficacy, low toxicity, and a favorable environmental profile. It provides protection to treated leaves as they grow and expand, even when the treatment is applied to leaves at just 20% of their full size.
In May 2022, the Indian chemical industry company, UPL Limited, completed the acquisition of OptiCHOS, a naturally-derived fungicide, from BioCHOS for an undisclosed sum. This strategic acquisition was made to bolster UPL's natural plant protection (NPP) business division, and in the coming years, NPP will introduce a range of products featuring OptiCHOS. BioCHOS, on the other hand, is a Norway-based company specializing in plant protection products.
Major companies operating in the fungicides market include American Vanguard Corporation, BASF SE, Bayer AG, Bioworks Inc., Dow AgroSciences LLC, DuPont de Nemours Inc., FMC Corporation, Marrone Bio Innovations Inc., Nufarm Ltd., Sumitomo Chemical, Syngenta International AG, UPL Limited, Cheminova A/S, Lanxess AG, Corteva Inc., Isagro SpA, Nippon Soda Co. Ltd., Certis USA LLC, Valent BioSciences LLC, Arysta LifeScience Corporation, Sipcam Agro USA Inc., Gowan Company LLC, Albaugh LLC, Rotam CropSciences Ltd., Sharda Cropchem Limited, PI Industries Limited, Adama Agricultural Solutions Ltd., Agbiochem Inc., Jiangsu Yangnong Chemical Co. Ltd., Kumiai Chemical Industry Co. Ltd., Novozymes A/S
Asia-Pacific was the largest region in the fungicides market in 2023. South America was the second-largest region in the global fungicides market. The regions covered in the fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the fungicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The fungicides market consists of the sales of captan, folpet, dithiocarbamates, pentachlorophenol, and mercurial fungicides. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Fungicides Market Characteristics3. Fungicides Market Trends And Strategies31. Global Fungicides Market Competitive Benchmarking32. Global Fungicides Market Competitive Dashboard33. Key Mergers And Acquisitions In The Fungicides Market
4. Fungicides Market - Macro Economic Scenario
5. Global Fungicides Market Size and Growth
6. Fungicides Market Segmentation
7. Fungicides Market Regional And Country Analysis
8. Asia-Pacific Fungicides Market
9. China Fungicides Market
10. India Fungicides Market
11. Japan Fungicides Market
12. Australia Fungicides Market
13. Indonesia Fungicides Market
14. South Korea Fungicides Market
15. Western Europe Fungicides Market
16. UK Fungicides Market
17. Germany Fungicides Market
18. France Fungicides Market
19. Italy Fungicides Market
20. Spain Fungicides Market
21. Eastern Europe Fungicides Market
22. Russia Fungicides Market
23. North America Fungicides Market
24. USA Fungicides Market
25. Canada Fungicides Market
26. South America Fungicides Market
27. Brazil Fungicides Market
28. Middle East Fungicides Market
29. Africa Fungicides Market
30. Fungicides Market Competitive Landscape And Company Profiles
34. Fungicides Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Fungicides Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fungicides market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for fungicides? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Type: Synthetic Fungicides; Bio-fungicides; 2) By Active Ingredient: Dithiocarbamates; Benzimidazoles; Chloronitriles; Triazoles; Phenylamides; Strobilurins; Other Active Ingredients; 3) By Treatment: Seed Treatment; Soil Treatment; Foliar Spray; Chemigation; Post-Harvest
- Companies Mentioned: American Vanguard Corporation; BASF SE; Bayer AG; Bioworks Inc.; Dow AgroSciences LLC
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- American Vanguard Corporation
- BASF SE
- Bayer AG
- Bioworks Inc.
- Dow AgroSciences LLC
- DuPont de Nemours Inc.
- FMC Corporation
- Marrone Bio Innovations Inc.
- Nufarm Ltd
- Sumitomo Chemical
- Syngenta International AG
- UPL Limited
- Cheminova A/S
- Lanxess AG
- Corteva Inc.
- Isagro SpA
- Nippon Soda Co. Ltd.
- Certis USA LLC
- Valent BioSciences LLC
- Arysta LifeScience Corporation
- Sipcam Agro USA Inc.
- Gowan Company LLC
- Albaugh LLC
- Rotam CropSciences Ltd.
- Sharda Cropchem Limited
- PI Industries Limited
- Adama Agricultural Solutions Ltd
- Agbiochem Inc.
- Jiangsu Yangnong Chemical Co. Ltd.
- Kumiai Chemical Industry Co. Ltd.
- Novozymes A/S
