Press release
Fungicides Market Poised for Significant Growth Amidst Strategic Mergers and Key Developments
Fungicides Market
The global fungicides market is experiencing robust growth, driven by strategic mergers and acquisitions, as well as key developments across various regions. This expansion is fueled by the increasing demand for effective crop protection solutions to ensure food security and enhance agricultural productivity.
๐๐๐ซ๐ค๐๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
According to recent reports, the fungicides market is projected to reach USD 32.3 billion by 2029, up from USD 23.9 billion in 2024, at a CAGR of 6.2% during the forecast period.This growth is attributed to the rising prevalence of fungal diseases affecting crops and the subsequent need for advanced fungicidal solutions.
๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐๐ญ๐ ๐๐จ๐ซ ๐ ๐ฎ๐ง๐ ๐ข๐๐ข๐๐๐ฌ ๐๐๐ซ๐ค๐๐ญ:
Fungicides Market was valued at US$ 19.33 Bn. in 2023 and is expected to reach US$ 25.96 Bn. by 2030, at a CAGR of 4.3% during a forecast period.
๐๐๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/29685/
๐๐๐ซ๐ ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ
The fungicides sector has witnessed significant mergers and acquisitions aimed at consolidating market positions and expanding product portfolios:
Bayer's Acquisition of Monsanto: In 2018, Bayer AG completed its acquisition of Monsanto, enhancing its crop protection segment, including fungicides.
ChemChina's Acquisition of Syngenta: ChemChina's acquisition of Syngenta in 2017 bolstered its agrochemical offerings, particularly in fungicides.
BASF's Acquisition of Bayer's Crop Science Division: BASF acquired Bayer's Crop Science division, including its fungicides portfolio, in 2018, strengthening its position in the fungicides market.
๐๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐๐๐ค ๐ข๐ง๐ฌ๐ข๐๐? ๐๐ซ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: //www.maximizemarketresearch.com/request-sample/29685/
๐ ๐ฎ๐ง๐ ๐ข๐๐ข๐๐๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
by Product Type
Inorganics
Benzimidazoles
Dithiocarbamates
Triazoles & Diazoles
Biofungicides
Others
Based on product type, the inorganics segment retained the biggest market share in 2023, owing to advantages such as fast acting fertilizer, ease of application, low cost, and pet friendliness. Another advantage of inorganic fertilizers is that they provide a specific nutrient content that is legally guaranteed. Inorganic or external expansion necessitated alliances, mergers, joint ventures, franchising, and acquisitions. Inorganic growth is a quick technique to join new markets and product categories, which helps to improve inorganics segment growth.
by Application
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Others
In terms of application, Cereals & Grains had the greatest market share in 2023.Cereals and grains contain more protein than meat, milk, and eggs, making them a major protein source for half of the world's population. The primary cause for increasing the segment is the growing population and demand for food materials. This increased demand for crop protection chemicals contributes to a rise in demand for novel fungicides.
by Mode of action
Contact
Systemic
by Form
Liquid
Dry
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
Several countries have made notable strides in the fungicides market:
Vietnam: The Vietnamese government has implemented policies to promote sustainable agriculture, leading to increased adoption of bio-based fungicides.
Thailand: Thailand's agricultural sector has seen a surge in the use of advanced fungicidal products to combat crop diseases, supported by government initiatives.
Singapore: Singapore's focus on urban farming has led to the development and use of innovative fungicidal solutions tailored for controlled environments.
Japan: Japanese companies are investing in research and development to create fungicides that are both effective and environmentally friendly.
South Korea: South Korea has increased its production of fungicides to meet domestic demand and export to neighboring countries.
European Countries: The European Union's stringent regulations have driven the development of bio-fungicides, with companies investing in sustainable solutions.
United States: The U.S. market has seen a shift towards generic fungicides as farmers seek cost-effective solutions amidst economic challenges.
Reuters
Inquire for More Details:
๐๐ง๐ญ๐ข๐จ๐ฑ๐ข๐๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1.BASF SE
2.Bayer AG.
3.Corteva Inc.
4.Syngenta AG
5.FMC Corporation
6.UPL Ltd.
7.Adama Ltd.
8.Sumitomo Chemical Co. Ltd.
9.Nufarm Limited
10.Isagro SpA
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
Recent advancements in the fungicides market include:
Introduction of Bio-Fungicides: The development of bio-based fungicides offers environmentally friendly alternatives to traditional chemical products.
Technological Innovations: Advancements in application technologies have improved the efficiency and effectiveness of fungicides.
Regulatory Approvals: New fungicidal products have received regulatory approvals, facilitating their entry into various markets.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
The global fungicides market is on a trajectory of significant growth, propelled by strategic mergers, acquisitions, and key developments across various regions. As the demand for effective crop protection solutions continues to rise, the market is expected to evolve, offering innovative and sustainable products to meet global agricultural needs.
๐๐๐ญ๐๐ฌ๐ญ ๐๐ฎ๐ญ๐ญ๐ข๐ง๐ -๐๐๐ ๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐๐ซ๐จ๐ฆ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐ข๐ฌ ๐ง๐จ๐ฐ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ :
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๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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