Fungicide Market | Global Industry Analysis | Forecast 2019 -2025 | PBIGP
“The Fungicide Market is anticipated to reach about US$ XX Bn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to a rising demand for fruits and vegetables.
Precision Business Insights (PBI) in its report titled “Fungicide Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The fungicide market size was accounted for US$ XX Bn in 2018 and anticipated to account for US$ XX Bn by 2025. Changing dietary patterns, is expected to drive demand for fungicides over the forecast period. Moreover, escalating food security concerns to boost growth the global fungicides market in the near future. Additionally, rising demand for fungicides in non-crop applications such as ornamental plants and turf is projected to fuel the market growth throughout the forecast period. Besides, increasing awareness regarding the benefits of fungicides among farmers across the globe is estimated to put forth lucrative opportunity for the market players existing in the global fungicides market during the forecast period. However, due to adverse effects associated with the use of fungicides and lack of awareness about fungal infections hampers the growth of market during the forecast period.
Fungicide market segmented on the basis of product type, crop type, formulation type, and mode of application.
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Cereals & Grains Will Dominate the Revenue Share.
Based on crop type the fungicide market is segmented into cereals and grains, oilseeds and pulses, forage crops and pastures. According to the report cereals & grains dominated the fungicides market in 2015; it is projected to grow at the highest CAGR during the forecast period. The major factors contributing to the growth of this segment is due to rise in demand for cereals & grains, owing to the increased awareness regarding their nutritional benefits. With an increase in consumption of fruits & vegetables and growth in demand for tropical and exotic fruits & vegetables in the developing countries the segment is expected to dominate the revenue share in the near future.
Asia-Pacific, Accounts for Major Revenue Share Fungicide Market
Precision Business Insights (PBI) fungicide market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Asia pacific holds the largest market share in the global fungicides market, owing to the large agricultural business in this region. India and China is expected to be the maximum market share holding countries in the global fungicides market. Use of fungicides in the European countries is also expected to increase in the near future due to the stringent food regulatory authorities in this region. The consumption of fungicides is also anticipated to escalate in the European countries in the upcoming years. The consumption of fungicides in Middle East and Africa is projected to demonstrate a stagnant growth in the forecast period.
Strategic Collaborations & Acquisitions Play Vital Role in Fungicide Market
Numerous agrochemical companies focus on development of bio-based fungicide innovation through extensive research and development activities. For instance, in January 2017, Mitsui & Co. Ltd. inked an agreement with Monsanto Company to acquire global business of Monsanto’s latitude, a wheat seed treatment fungicide
Key player’s profiles in the report are BASF SE (Germany), Dow AgroSciences LLC (U.S.), Sumitomo Chemical Co., Ltd (Japan), and Bayer CropScience AG (Germany); these are well-established and financially stable players that have been operating in the industry for several years. Other players include Syngenta AG (Switzerland), Nippon Soda Co. Ltd. (Japan), and Nufarm Ltd. (Australia) among others.
By Product Type
By Crop Type
o Oilseeds and pulses
o Cereals and grains
o Forage crops and pastures
By Formulation Type
o Water-dispersible granules
o Wettable granules
By Mode of Application
o Soil treatment
o Seed treatment
o Foliar spray
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Rest of MEA
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