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Unlocking Opportunities in the Fungicides Market: 2025-2034 Forecast Report
Fungicides
What Will the Fungicides Industry Market Size Be by 2025?
The market size of fungicides has seen significant growth recently. Its value will surge from $25.01 billion in 2024 to an increased sum of $27.14 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.5%. Factors such as crop protection, crop expansion, varying climate conditions, and managing pesticide resistance have contributed to this growth seen in the historic period.
What's the Long-Term Growth Forecast for the Fungicides Market Size Through 2029?
Predictions suggest a robust expansion in the fungicides market in the coming years. The market is set to reach $36.11 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.4%. This projected growth within the forecasted period can be linked to several factors including global population increase, effects of climate change, integrated pest management (ipm), biofungicides, and biotechnology. Moreover, the forecasted period will likely see trends such as sustainable fungicides, precise application technologies, biological control against disease, and management of fungicide resistance.
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What Are the Key Growth Drivers Fueling the Fungicides Market Expansion?
Intensive farming methodologies are being embraced worldwide by farmers to boost productivity per hectare, which in turn increases the need for pesticides and other agrarian chemicals. The goal of intensive farming, a system of agricultural intensification and mechanization, is to extract maximal yields from the available land, through methods such as extensive utilization of pesticides and chemical fertilizers. Such approaches effectively cater to the escalating food demands of the burgeoning global population, and help stave off potential food scarcities. Certain intensive farming measures, like monoculture, heighten the demand for pesticides. Monoculture refers to the intensive cultivation of one kind of crop spread across a large expanse, leading to nutrient exhaustion in the soil and an increased dependence on pesticides.
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What Are the Key Trends Driving Fungicides Market Growth?
The elevated demand for inorganic fungicides in developing agricultural nations like China, Brazil, and India can be attributed to their lower cost compared to organic fungicides. Factors propelling the market include fast population growth, decreasing arable land, inadequate regulations, and a rising need for quality fruits and vegetables. Inorganic fungicides, produced from easily obtainable and effortlessly produced elements, offer a cheaper alternative. The market is projected to grow during the forecast period, driven by farmers in these developing regions procuring substantial quantities of inorganic fungicides.
How Is the Fungicides Market Segmented?
The fungicides market covered in this report is segmented -
1) By Type: Synthetic Fungicides, Bio-fungicides
2) By Active Ingredient: Dithiocarbamates, Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Other Active Ingredients
3) By Treatment: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Applications
Subsegments:
1) By Synthetic Fungicides: Chloronitriles, Dithiocarbamates, Benzimidazoles, Triazoles, Strobilurins, Phthalimides, Copper-based Fungicides
2) By Bio-Fungicides: Microbial Fungicides (Bacillus, Trichoderma), Botanical Fungicides (Neem Oil, Garlic Extract), Plant Extract-Based Fungicides, Biochemical Fungicides (Bicarbonates, Pheromones)
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Which Companies Are Leading the Charge in Fungicides Market Innovation?
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
Which Regions Are Leading the Global Fungicides Market in Revenue?
Asia-Pacific was the largest region in the fungicides market in 2023. South America was the second-largest region in the global fungicides market. The regions covered in the fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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