Fungicides Market to Reach USD 33.7 Billion by 2031 | CAGR 6.5% | Asia-Pacific Leads with 38% Share | Key Players: Syngenta, BASF, Bayer, DuPont, FMC, Adama, Sumitomo

Market Overview

The Global Fungicides Market reached USD 20.4 billion in 2022 and is projected to grow to USD 33.7 billion by 2031, expanding at a CAGR of 6.5% during the forecast period (2024-2031). Fungicides are chemical or biological compounds formulated to prevent or control fungal infections in crops, improving plant health and agricultural productivity. The market encompasses several major fungicide classes, including dithiocarbamates, benzimidazoles, triazoles, strobilurins, and carboxamides, each targeting specific fungal pathogens.

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The global market is driven by the growing need for effective crop protection solutions amid rising incidences of fungal diseases and increasing demand for high-quality agricultural produce. Chemical fungicides remain dominant due to their wide availability and proven efficacy, while biological fungicides, comprising living organisms or natural derivatives, are gaining traction as sustainable alternatives. Contact fungicides are applied directly to plant surfaces, providing immediate protection, whereas systemic fungicides are absorbed into plant tissues to deliver long-lasting internal protection. Additionally, protective fungicides create a physical barrier that prevents fungal spore germination, thereby enhancing disease resistance and contributing to consistent revenue growth in the global fungicides market.

Recent Developments:

✅ January 2026: A leading agrochemical company launched a next-generation systemic fungicide with broad-spectrum activity, designed to protect high-value crops such as fruits and vegetables from early- and late-season fungal diseases.

✅ November 2025: A major global agricultural solutions provider introduced a bio-fungicide formulation combining beneficial microbes with natural extracts, offering sustainable disease management for cereals and oilseed crops.

✅ September 2025: A multinational crop protection firm expanded its fungicide portfolio with a new contact fungicide optimized for rice and wheat, improving disease control efficacy while reducing environmental impact.

✅ June 2025: An agrochemical innovator partnered with regional distributors to roll out advanced foliar fungicide solutions for vineyards and orchards, enhancing protection against powdery mildew and downy mildew.

✅On December 28, 2022, BASF launched its latest fungicide, Revysion (mefentrifluconazole), which was developed over an 11-year research process with an investment of €250 million. The event showcased the most relevant data regarding the new product.

Mergers & Acquisitions:

✅ January 2026: A leading global agrochemical company acquired a regional bio-fungicide manufacturer, strengthening its portfolio of sustainable crop protection solutions for fruits, vegetables, and cereals.

✅ October 2025: A multinational crop protection firm merged with an agricultural technology startup specializing in AI-driven disease detection, enhancing its precision fungicide application capabilities.

✅ August 2025: A major pesticide producer acquired a seed treatment and fungicide company in Asia-Pacific to expand its footprint in high-growth emerging markets and diversify its product portfolio.

✅ May 2025: An agrochemical conglomerate completed the acquisition of a niche fungicide R&D firm focused on strobilurin and triazole chemistries, boosting innovation pipelines for disease-resistant crops.

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Key Players:

• BASF SE - Holds a 12.8% share, offering a wide range of systemic and contact fungicides for cereals, fruits, and vegetables.

• ADAMA Agricultural Solutions Ltd. - Holds a 9.5% share, focusing on cost-effective fungicide solutions for emerging markets and high-value crops.

• Bayer CropScience AG - Holds a 13.2% share, providing both chemical and biological fungicides with integrated crop protection solutions.

• DuPont - Holds a 7.8% share, supplying advanced triazole and strobilurin fungicides for large-scale commercial agriculture.

• FMC Corporation - Holds a 6.5% share, specializing in innovative seed treatment and crop protection fungicide formulations.

• Monsanto Company - Holds a 5.9% share, focusing on integrated disease management with fungicides and genetically resistant seeds.

• Nufarm Limited - Holds a 6.2% share, offering a mix of chemical fungicides tailored for cereals, pulses, and horticultural crops.

• Sumitomo Chemical Co., Ltd. - Holds a 5.4% share, providing broad-spectrum fungicides for tropical and temperate crops.

• Syngenta AG - Holds a 14.0% share, delivering high-performance systemic and contact fungicides globally.

• The DOW Chemical Company - Holds a 4.7% share, producing specialized fungicide chemistries for both agricultural and industrial applications.

Market Segmentation:

By Origin: The market is dominated by Synthetic Fungicides, holding approximately 78% share due to their broad-spectrum efficacy and established use across commercial crops, while Bio-Fungicides account for around 22%, driven by the rising demand for organic farming and environmentally friendly crop protection solutions.

By Mode of Application: Foliar Spray applications lead the market with a 52% share, as they provide effective disease control and easy field application. Seed Treatment represents 18%, Soil Treatment holds 15%, and Post-Harvest applications account for 15%, supporting crop protection during storage and transportation.

By Form: Liquid formulations dominate with a 44% share due to ease of use and compatibility with modern spraying equipment. Water Dispersable Granules (WDG) contribute around 30%, while Wettable Powder (WP) accounts for 26%, providing cost-effective alternatives for broad-scale application.

By Product: Triazoles are the most widely used fungicides, holding 21% of the market, followed by Strobilurins (18%), Dithiocarbamates (15%), Benzimidazoles (12%), Phenylamides (10%), Chloronitriles (8%), and Others (16%), including newer chemistries and combination formulations.

By Application: Grains & Cereals dominate with 28% market share, driven by large-scale cultivation and high fungicide usage. Fruits & Vegetables account for 25%, Oil Crops & Pulses hold 20%, and Turf & Ornamental applications contribute 27%, reflecting the growing use in landscaping, golf courses, and ornamental horticulture.

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Regional Insights:

Asia-Pacific is the largest market for fungicides, accounting for approximately 38% of the global market. The region's dominance is driven by extensive agricultural activities, high crop diversity, and increasing adoption of modern crop protection practices in countries like China, India, and Japan.

North America holds around 22% of the market, supported by advanced farming technologies, precision agriculture, and high awareness regarding crop disease management in the United States and Canada.

Europe accounts for 20%, driven by stringent regulations on crop protection, high adoption of integrated pest management practices, and growing demand for high-value fruits, vegetables, and cereals.

Latin America contributes about 12%, supported by large-scale cultivation of grains, soybeans, and coffee, and increasing investment in crop protection infrastructure in Brazil, Argentina, and surrounding countries.

Middle East & Africa represents roughly 8% of the market, with growth attributed to rising agricultural mechanization, increasing investments in commercial farming, and efforts to improve crop yields in arid and semi-arid regions.

Market Dynamics:

The cultivation of fruits, vegetables, and other high-value crops is expanding globally due to shifting dietary patterns and evolving cropping practices, driving demand for advanced fungicide solutions. In response, manufacturers are launching innovative products with new modes of action and improved efficacy. For example, in November 2022, FMC Corporation introduced a foliar fungicide targeting late-season diseases with three distinct modes of action, enhancing protection against complex fungal infestations.

Moreover, the approval of FMC's fluindapyr by the U.S. Environmental Protection Agency in 2021 for use on specialty crops and turfs demonstrates the focus on introducing novel active ingredients that meet regulatory standards and farmer needs. With widespread disease resistance reducing the effectiveness of conventional strobilurin fungicides, manufacturers are increasingly developing combination products that integrate strobilurin with other active compounds, improving disease control while minimizing resistance development. These advancements underscore the role of product innovation as a key driver in the global fungicides market, enabling farmers to achieve higher crop yields and better-quality produce.

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