Soybean rust control fungicides help control crop diseases. If the application is done at the right time, it has several benefits, including increasing the yield of the crop along with improved stalk strength with reduced risk of lodging. This eliminates the need for alternative efforts required for increasing crop yield, which helps maximize overall profits.
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The soybean rust control market has witnessed substantial growth in the past few years, and this trend is expected to continue through the course of the forecast period – 2020 to 2030. The global soybean rust control market is estimated to rise at a steady CAGR of nearly 5% over the forecast period.
Key Takeaways from Soybean Rust Control Market Study
- By species, Phakopsora pachyrhizi had spread beyond the Eastern Hemisphere and into Hawaii, and also to Africa, South, and North America, along with Asia. Thus, the spread of Phakopsora pachyrhizi is more than Phakopsora meibomiae across the world, which makes it one of the prominent soybean rust species in the global soybean rust control market.
- By fungicide, the protective soybean rust control segment is projected to witness significant growth along with the highest market share during the forecast years (2020-2030) in the global soybean rust control market. Protective fungicide acts as a protective barrier and prevents infection from occurring.
- By region, Latin America holds the highest share in the global soybean rust control market, owing to the highest cultivation and production of soybean in this region.
- The COVID-19 pandemic is expected to have a moderate impact on the progress of the global soybean rust control market.
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Soybean Rust Control Market: Competitive Landscape
Soybean rust disease has caused serious yield loss in the production of soybeans, leading to increase in demand for fungicides. Thus, manufacturers are focused on different collaborations and partnerships for the introduction of new soybean rust control and resistant fungicides. With increase in demand for food production, there has been corresponding demand for crop protection products, enabling manufacturers to collaborate with different crop science departments to introduce soybean variants, while also acquiring different key businesses in different regions involved in the production of crop protection products.
- In 2017, Sumitomo Chemical Co., Ltd.,\ and Bayer AG collaborated for the development of fungicidal mixture products for controlling soybean diseases in Brazil, as it remained the biggest problem faced by farmers in the country.
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