Fungicides Market Size, Industry Share | Forecast 2028

The global fungicides market size was valued at USD 16.84 billion in 2021, growing at a CAGR of 4.5% during the forecast period 2022-28. All fungi-related disorders could be efficiently controlled by fungicides. Fungicides cannot treat conditions brought on by abiotic factors, insect damage, or diseases brought on by other living things. As a result, it is crucial to identify the root of the symptoms before applying a fungicide to plants. Fungicides can be applied as dust, granules, gas, or most frequently as a liquid. These are injected into the soil and then administered topically to seeds, bulbs, transplant roots, propagative organs, soil in-furrow during planting or after planting as a simple soil drench, leaves, and both of these above-ground sections of plants.

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The Fungicides Market is expanding due to the expanding global population and rising demand for food production. For the cultivation of fruits, vegetables, and rice, fungicides are frequently utilized. Fungicides eliminate or stop the growth of fungi and bacteria on crops, which increases agricultural yield. The Fungicides Market is also expanding as a result of rising avian farming methods, rising fungicide product introductions, and rising consumption of fruits and vegetables due to their health benefits. A new solution to prevent the growth of fungi and bacteria on crops is also in high demand given the current climate change situation and the consequent rise in the prevalence of numerous crop diseases. The market for fungicides is expanding as a result of this issue. Additionally, consumers' growing health concerns and diet plans are driving up demand for the highest-quality veggies on the market. Fungicides Market expansion is also being aided by farmers' use of cutting-edge technologies to boost crop productivity. Contrarily, it is projected that the expansion of the fungicides market would be constrained by rising soil toxicity risks and rigorous government restrictions regarding the licencing process for new products onto the market. Despite this, the rising demand for bio-based fungicides is predicted to create abundant chances for the fungicides market throughout the course of the predicted period.

Fungicides Market Segmentation:
1) By Product Type: Dithiocarbamates, Chloronitriles, Triazoles, Benzimidazoles, Phenylamides, Strobilurins.
2) By Crop Type: Oilseeds and pulses, Cereals and grains, Forage crops and pastures, Others.
3) By Formulation Type: Water-dispersible granules, Liquid, Wettable granules.
4) By Application: Soil treatment, Seed treatment, Foliar spray, Post-harvest.

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Fungicides Market Regional Analysis:
Due to its vast population and expanding agricultural practises, the Fungicides Market in the Asia Pacific region is expected to grow at the fastest rate. The region's massive rice production and demand is also boosting the market for fungicides.

Key players' profiles in the fungicides market report are BASF SE (Germany), Monsanto Company (U.S.), Bayer CropScience AG (Germany), Nufarm Ltd. (Australia), Syngenta AG (Switzerland), E.I. DuPont De Nemours & Company (U.S.), Sumitomo Corporation (Japan), FMC Corporation (U.S.), Mitsui & Co., Ltd. (Japan), Nippon Soda Co. Ltd. (Japan), ADAMA agricultural solution ltd. (Israel)

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