Fungicides Market Overview
In 2023, the global fungicides market was valued at USD 23.40 billion, with revenues projected to grow at a compound annual growth rate (CAGR) of 4.60% from 2024 to 2030, potentially reaching approximately USD 32.07 billion. This report provides an in-depth analysis of the fungicides market dynamics, segmented by region, fuel blend, and application.
Fungal pathogens are a significant threat to crops, leading to reduced yields, compromised quality, and lower profitability. To combat these issues, fungicides are applied at various stages of crop growth to eliminate harmful fungi that can hinder agricultural productivity. The expansion of the global fungicides market is expected to be fueled by an increase in disease outbreaks due to shifting climatic conditions and the growing cultivation of high-value crops. Consequently, there is a rising global demand for fungicides aimed at minimizing crop losses.
Access comprehensive details about this research at this link:https://www.stellarmr.com/report/req_sample/Fungicides-Market/342
Fungicides Market Dynamics
The growth of the fungicides market is primarily driven by several factors, including global population growth, which demands higher agricultural production, the rise in plant diseases, limited availability of arable land, and the adoption of advanced farming techniques. Additionally, various market players are implementing innovative strategies to gain a competitive advantage and increase their market share.
Companies are significantly investing in expanding their facilities, enhancing research and development efforts, forming strategic collaborations, and entering into partnerships. For example, Syngenta recently introduced their latest fungicide, pydiflumetofen, branded as MIRAVIS Duo. These initiatives are expected to propel the growth of the fungicides market throughout the forecast period.
However, the market’s growth is being challenged by the adverse effects of fungicides on human health and the environment. Moreover, the increasing popularity of organic farming practices and the development of genetically modified crops are anticipated to restrict market expansion.
Fungicides Market Segment Analysis
By Product Type
In 2020, the triazoles segment accounted for USD 2.40 billion of the global fungicides market, representing 17% of the total market share. This segment is expected to grow to USD 3.40 billion by 2027, maintaining its dominant position with a CAGR of 4.5% during the forecast period.
Strobilurins, another key product type, are derived from the naturally occurring Basidiomycete Strobilurustanacellus. These fungicides are considered to be less harmful to both the environment and humans. The global market for Strobilurins was valued at USD 2.40 billion in 2020 and is projected to reach USD 3.30 billion by 2027, growing at a CAGR of 4.2% from 2020 to 2027.
by Product Type
Dithiocarbamates
Benzimidazoles
Chloronitriles
Triazoles
Phenylamides
Strobilurins
Others
by Application
Cereals and Grains
Oilseeds and Pulses
Fruits and Vegetables
Others
Explore in-depth findings on this study by visiting this webpage:https://www.stellarmr.com/report/req_sample/Fungicides-Market/342
Fungicides Market Regional Insights
In 2020, Europe held the largest share of the global fungicides market, accounting for a significant portion of the overall revenue. This dominance is attributed to the extensive use of fungicides in European agriculture, particularly in wheat cultivation, which is a vital sector for the continent’s agro-economy. Additionally, fungicides are widely used in European vineyards and fruit and vegetable farms. The European fungicides market generated USD 5.70 billion in sales in 2020 and is expected to expand at a CAGR of 4.60%, reaching approximately USD 8.20 billion by 2027.
Market Key Players:
BASF SE (Germany)
Bayer AG (Germany)
Corteva Inc. (United States)
Syngenta AG (Switzerland)
FMC Corporation (United States)
UPL Ltd. (India)
Adama Ltd. (Israel)
Sumitomo Chemical Co. Ltd. (Japan)
Nufarm Limited (Australia)
Isagro SpA (Italy)
Dhanuka Agritech (India)
Nippon Soda Co. Ltd. (Japan)
AMVAC Chemical Corporation (United States)
Nissan Chemical Corporation (Japan)
Others
Key questions answered in the Fungicides Market are:
- What is Fungicides?
- What was the Fungicides market size in 2023?
- What is the growth rate of the Fungicides Market?
- Which are the factors expected to drive the Fungicides market growth?
- What are the different segments of the Fungicides Market?
- What growth strategies are the players considering to increase their presence in Fungicides?
- What are the upcoming industry applications and trends for the Fungicides Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Fungicides Market?
- What segments are covered in the Fungicides Market?
- Who are the leading companies and what are their portfolios in Fungicides Market?
- What segments are covered in the Fungicides Market?
- Who are the key players in the Fungicides market?
Click here to access the complete study on this topic:https://www.stellarmr.com/report/Fungicides-Market/342
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Our Trending Related Report :
Prebiotics Market https://www.stellarmr.com/report/Prebiotics-Market/1188
Professional Audio Equipment Market https://www.stellarmr.com/report/Professional-Audio-Equipment-Market/1190
Rubidium Market https://www.stellarmr.com/report/Rubidium-Market/1192
Semiconductor Bonding Market https://www.stellarmr.com/report/Semiconductor-Bonding-Market/1193
Semiconductor Foundry Market https://www.stellarmr.com/report/Semiconductor-Foundry-Market/1194
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
