Fungicide Market Expected to Reach USD 33.76 Billion by 2034 | CAGR: 5.6%

Fungicide Market
The fungicide market is expected to gain market growth during the forecast period of 2025-2034. Polaris Market Research analyzes the market to account for USD 33.76 billion by 2034 and is expected to register a CAGR of 5.6% in the above-mentioned forecast period. The market was valued at USD 19.53 billion in 2024.

Market Analysis
Fungicides are chemical substances used to destroy or inhibit the growth of fungi. They are commonly used to regulate parasitic fungi that normally generate economic injury to crops or decorative plants or imperil the well-being of domestic animals or humans. The majority of agricultural or horticultural fungicides are administered as sprays or dusts. Seed treatment fungicides are administered as a safeguarding covering prior to germination.

Systemic fungicides are administered to plants where they become disseminated throughout the tissue and respond to diminish prevailing disease or safeguard against probable disease. Bordeaux mixture is a liquid constituted of hydrated lime, copper sulfate, and water as one of the most premature fungicides. Bordeaux mixture and Burgundy mixture, a homogenous configuration, is widely utilized to treat orchard trees and offer chemical crop protection.

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Driving Factors
Rising Global Population
The speedy growth of the worldwide population has escalated the demand for food generation, forcing agricultural sectors to improve crop harvest and productivity. This rise involves strong crop safeguarding and steps to prohibit losses from fungal illnesses. For instance, the Food and Agriculture Organization (FAO) declared that worldwide rice production reached 520 million tons in 2021, with rice blast illness generating notable harvest losses and driving up the fungicide market demand.

Rising Environmental Concerns
Climate change, characterized by shifting weather patterns and rising temperatures, has created conditions favorable for the spread of fungal pathogens, thereby increasing the risk of crop epidemics. The Environmental Protection Agency (EPA) has observed that climate change can exacerbate the spread of plant diseases, leading to a greater need for increased fungicide applications to manage these threats effectively.

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Competitive Landscape
Regional manufacturers, along with local players, actively compete with major industry leaders to increase their market share, resulting in a highly fragmented market landscape. Some of the prominent players operating in the market include:
• ADAMA Agricultural Solutions Ltd.
• American Vanguard Corporation
• BASF SE
• Bayer AG
• Bioworks, Inc.
• Corteva Agriscience
• DuPont
• FMC Corporation
• Isagro SpA
• Marrone Bio Innovations, Inc.
• Nippon Soda Co., Ltd.
• Nufarm
• Sumitomo Chemical
• Syngenta AG
• UPL Ltd.

Fungicide Market Developments
June 2024: BASF Agricultural Solutions launched Cevya, a novel rice fungicide in China and the first isopropanol triazole fungicide approved for rice in 20 years. Designed to combat rice false and tackle fungicide resistance, Cevya features mefentrifluconazole as its active ingredient, offering rice growers a cutting-edge tool to enhance crop yields.

August 2023: Bayer AG revealed a USD 238.214 million investment in a new research and development facility at its Monheim site in Germany-its largest Crop Protection investment in the country in 40 years. The facility will focus on creating next-generation fungicides and crop protection solutions prioritizing environmental sustainability and human health.

Fungicide Market Report Highlights
• By type, the liquid segment holds the largest fungicide market share due to its ease of application, better coverage, and high effectiveness in disease control.

• By crop type, the cereals & grains segment hold the largest market share. This prominence is attributed to the critical role these crops play in global food security and their extensive cultivation.

• Asia Pacific holds the largest fungicide market share, primarily due to its extensive agricultural activities and the critical need to protect crops from fungal diseases. Countries such as China and India, with their vast farmlands and diverse crop cultivation, are significant contributors to this dominance.

• The market in Europe is characterized by diverse agricultural practices and stringent regulatory frameworks. Spain emerges as a dominant player, driven by its extensive cultivation of cereals and grains, particularly barley, which is highly susceptible to fungal diseases such as Rhynchosporium commune.

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Market Segmentation
The fungicide market segmentation is based on type, crop type, product, and region.
Based on type, the liquid segment holds the largest market share due to the convenience of application, superior coverage of extensive areas, and similarity of liquid fungicides with several spraying instruments.
Based on crop type, the cereals & grains segment dominates the market as these crops play an important part in worldwide food security, and their outstanding rearing across varied climates renders them vulnerable to several fungal illnesses.

Fungicide Market, Type Outlook (Revenue - USD Billion, 2020-2034)
• Liquid
• Dry

Fungicide Market, Crop Type Outlook (Revenue - USD Billion, 2020-2034)
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Others

Fungicide Market, Product Outlook (Revenue - USD Billion, 2020-2034)
• Inorganics
• Biofungicides
• Benzimidazoles
• Triazoles & Diazoles
• Dithiocarbamates
• Others

Geographical Insights
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest f Europe

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