Fungicides Market World Revenue, Global Industry Size, Key Players Analysis and Forecast by 2028

Market Overview:
The Global Fungicides Market was estimated at USD 19.61 billion in 2021, and is projected to reach USD 26.33 billion by 2028, growing at a CAGR of 4.3% over the analysis period.

The type of pesticides known as fungicides is frequently used to eradicate fungi, and fungi spores, control rust, mildews, and crop blights, as well as to protect crops from fungal infections. High-value crops like grapes, pome fruits, cotton, tomatoes, maize, and other ornamental & vegetable crops have seen an increase in demand for fungicides as they help to increase crop quality and yield. The market for fungicides is likely to grow due to factors including an increase in the prevalence of various harmful crop diseases, changes in the environment, rising health concerns among farmers, and growing consumer awareness of the advantages of using fungicides.

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Market Dynamics:
Driver:
The impact of climate change on global agricultural production is very serious. Any drastic changes in the climate may have a negative impact on crop production and lead to the emergence of different pests and diseases. Crops are vulnerable to the development of harmful fungal diseases and fungi on the plant as a result of such temperature changes and an increase in atmospheric moisture content. Farmers tend to use fungicides appropriately in order to prevent crop losses caused by fungi. Many different products are used to protect crops from fungal infections and to increase crop yield, including bio fungicides, dithiocarbamate, benzimidazoles, triazoles, and diazoles. This support the growth of the market.

Opportunities:
In recent years, there has been a significant increase in the demand for organic products, and in order to meet this demand, growers and manufacturers are turning to organic and precision farming techniques, as well as the maximum use of bio fungicides for crop growth. Furthermore, rapid urbanisation is favouring the use of biological fungicides to maximise crop revenue, avoid fungi attack losses, and cultivate natural and chemical-free products. Such an increase in demand for biofungicides, as well as the use of precision farming methods to improve crop quality and yield, is likely to provide lucrative opportunities for the fungicides market in the coming years.

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Segmentation Analysis Of Fungicides Market
By type, the biological fungicides segment holds the largest market share and is expected to continue its dominance over the projected period. Biofungicides contain various beneficial microorganisms to control the growth of fungi, and many such microorganisms are found naturally in the soil. Biofungicides are commonly used before the occurrence of disease, and are more efficient when combined with good agricultural practices. Additionally, the extensive usage of chemical fungicides causes harmful effects on the crop, thus, the market growth of biological fungicides segment is expected to continue its dominance.
• Chemical
• Biological

By crop type, the cereals and grains segment is anticipated to lead the development of the fungicide market over the analysis period. The rapid growth in population and demand for food material have propelled the need for crop protection, and thereby increasing the use of fungicides on cereals and grains. This segment is estimated to continue its dominance as the crops grown are in abundance and on a wide- scale across many regions of the world.
• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables

By mode of application, the post- harvest segment is estimated to dominate the market growth over the forecast period owing to the prevention of post-harvest losses of various seasonal and nonseasonal crops. Post-harvest segment is formulated to reduce the amount of fungicides being used and to solve the wastewater disposal related problems. Growers utilize fungicides widely during the post-harvest time period to avoid growth of fungi and fungi spores during storing, handling, transporting or distributing; further leading to rapid growth of this segment.
• Seed treatment
• Foliar spray
• Soil treatment
• Post-harvest

Regional Analysis Of Fungicides Market
Asia Pacific region holds the largest share of fungicide market and is expected to witness the fastest growth over the projected period. Asia Pacific is an agrarian economy with several nations such as India, Indonesia, Thailand, Japan and South Korea, and all these regions are largely dependent on the crop yields every annual year. Owing to this, the demand for crop care chemicals including pesticides and fungicides is high which led to growth of fungicide market in this region. Also, the governments bodies across these nations, coupled with agricultural committies, are trying hard to induce the advanced technologies and modern farming methods, where the farmers and their committees can become aware of the use of various chemicals, their appropriate application, soil conditions, time of doses and crop types. All these key factors have influenced the market growth of fungicide in the Asian pacific region and is estimated to grow even faster in the forecast years.

The North American region is anticipated to have the second highest share of the fungicide market in the projected timeframe. The U.S. is the largest agricultural economy in the North American region with crops such as wheat, corn, alfalfa, soybean, and coffee contributing to a significant amount of production every year. The tropical zones of North American region are suitable for the production of sugarcane, bananas, cocoa, oranges and coffee, which further require periodic monitoring and intensive care to ensure that the crops are not affected by any growth of fungi or fungal diseases. Thus, the maximum use of fungicides to protect various crops, are estimated to drive the production and dominate the fungicide market in North American region.

The fungicide market in the European region is anticipated to develop at a significant growth rate over the projected period. This growth is mainly attributed to the presence of existing manufacturers and key players in the region. In addition, Europe is the leading producer of wheat, which thereby leads to large-scale consumption of fungicides for betterment of crops. Growing demand for food security in European nations is one of the major factors boosting high consumption of the fungicides in the region.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Top Key Players Covered in Fungicides Market
• Sumitomo Chemical Co. Ltd (Japan)
• PI Industries (India)
• FMC Corporation (USA)
• ADAMA Ltd. (Israel)
• BASF SE(Germany)
• UPL(India)
• Bayer AG (Germany)
• Syngenta AG(Switzerland)
• The Dow Chemical Company (US)
• Cheminova A/S(Denmark)
• Chemtura Corporation (US)
• Bioworks Inc (United States)
• American Vanguard Corporation (US) and other major players.

Key Industry Development In The Fungicides Market
In November 2019, ADAMA Agricultural Solutions Ltd. acquired the French-Swiss crop protection company, SFP, which is based in Switzerland. With this acquisition, SFP will increase its market presence in Europe, through ADAMA's strong commercial network throughout the continent, which is projected to drive the growth for SFP and help it increase its presence in the region.

In December 2019, FMC Corporation launched Rayora fungicide, which is a systemic Demethylation inhibitor (DMI) designed to prevent and cure dollar spot, while providing a layer of added protection from brown patches on turfs and green tissues.

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Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Type
 3.2 By Crop Type
 3.3 By Mode of Application

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing
Continue.

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