The global fungicides market is valued at US$ 18.5 Billion in 2022. The fungicides market is estimated to reach a revenue of US$ 30 Billion by 2032. Based on crop type, cereals and grains enjoy 41% share of the fungicides industry. North America held 28% share of the global fungicides market share in 2021.
Fungicide is a type of pesticide used to kill fungi or fungi spores. Fungicides find major use in the agricultural sector for crop protection. It is used to prevent damage to crops caused by the attack of fungicides. It gives a higher yield with better quality of the crops. It is also used to kill fungal infections in animals.
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The use of fungicides differs according to the type of crop. Different types of fungicides available are translaminar, systemic and contact fungicides. The active ingredients include chlorothalonil, mancozeb, prochloraz, propicanazole, prochloraz, propicanazole, and many more.
One of the most common active ingredients in fungicides is sulfur. Some fungicides are dangerous to human health and so the major laws governing the use of fungicides in different countries are expected to hamper the growth of the global fungicides market in the near future. However, the global fungicides market is expected to witness moderate single-digit growth in the forecast period.
Key Companies-
- BASF SE
- Bayer AG
- Syngenta AG
- The Dow Chemical Company
- E.I. Dupont De Nemours & Company
- Cheminova A/S
- Nufarm Ltd.
- Chemtura Corporation
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What are the Factors Driving Market Growth of Fungicides?
“Growing Demand for Fungicides for Crop Protection”
At present, there is an increased demand for fungicides around the world for the protection of crops to ensure higher crop yields. The shrinking arable land and rising demand for food products are estimated to fuel demand avenues in the industry.
“Increasing Global Population Demanding More Food Products”
There is a significant increase in the global population in recent years. This rising population further stimulates the requirement for food products to meet their daily requirements.
“Rising Diseases in Agriculture Driving Sales of Fungicides”
In addition, growing concerns to control many diseases among plants are expected to drive demand avenues in the industry. Further, the development of novel organic fungicides is also helpful for industry players to get a competitive edge in the market while providing effective solutions to consumers.
Fungicides Industry Research by Category
By Type:
- Benzimidazoles
- Triazoles
- Dithiocarbamates
- Chloronitriles
- Phenylamides
- Strobilurins
- Others
By Crop Type:
- Fruits
- Vegetables
- Cereals and Grains
- Oilseeds
- Others
By Region:
- North America
- Europe
- Latin America
- East Asia
- The Middle East & Africa
- South Asia & Pacific
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