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Fungicides Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Fungicides Market
The Business Research Company offers in-depth market insights through Fungicides Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 in the historic period can be attributed to crop protection, crop expansion, climate conditions, pesticide resistance management.
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 growth in the forecast period can be attributed to global population growth, climate change impact, integrated pest management (ipm), biofungicides and biotechnology. Major trends in the forecast period include sustainable fungicides, precision application technologies, biological disease control, fungicide resistance management.
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Market Segmentation:
The main types of fungicides are synthetic fungicides and bio-fungicides. Fungicides control fungal diseases by killing or inhibiting fungi or fungal spores. The active ingredients involved are dithiocarbamates, benzimidazoles, chloronitriles, triazoles, phenylamides, strobilurins, and other active ingredients that are used for seed treatment, soil treatment, foliar spray, chemigation, and post-harvest. The various applications are cereals and grains, oilseeds and pulses, fruits and vegetables, and other applications.
Major Driver - Global Adoption Of Intensive Farming With Double-Edged Sword Driving Productivity And Increasing Pesticide Demand
Farmers globally are adopting intensive farming techniques to increase productivity per hectare, driving the demand for pesticides and other agricultural chemicals. Intensive farming is an agricultural intensification and mechanization system that aims to maximize yields from available land through means such as heavy use of pesticides and chemical fertilizers. These techniques help to meet the rising demand for food from the growing population and prevent food shortages. Intensive farming techniques such as monoculture drive the demand for pesticides. Monoculture is the practice of growing one type of crop intensively over a large area, depleting the nutrients in the soil and making it heavily dependent on pesticides.
Competitive Landscape:
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
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Top Trend - The Dominance Of Inorganic Fungicides In Developing Agricultural Markets
Because inorganic fungicides are less expensive than organic fungicides, they are in high demand in developing agricultural countries such as China, Brazil, and India. Other factors driving this market include rapid population growth, depleting cultivable land, lack of proper regulations, and increasing demand for quality fruits and vegetables. Inorganic fungicides are manufactured from abundantly available and easily produced elements, making the product significantly cheaper. Farmers in developing regions procuring inorganic fungicides in large quantities are expected to drive the market in the forecast period.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fungicides Market Characteristics
3. Fungicides Market Trends And Strategies
4. Fungicides Market - Macro Economic Scenario
5. Fungicides Market Size And Growth
…..
27. Fungicides Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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