MRRS adds "Fungicides Market by Type (Benzimidazoles, Dithiocarbamates, Phenylamides, Chloronitriles, Strobilurins, and Triazoles), Crop Type (Cereals & Grains, Oilseeds & Pulses), Form (Liquid, Wettable powder), Mode of Application – Global Forecast to 2022" latest studies, published in November 2016. It is a professional and in-depth study.
Summary
“Global fungicides market projected to grow at a CAGR of 4.78%”
The global fungicides market is projected to reach a value of USD 19.17 billion by 2022, growing at a CAGR of 4.78% from 2016. The market is driven by factors such as growth in the crop production, ease of application, increase in need for food security for the increasing population, and rise in preference for fungicides. The change in farming practices (from traditional to conventional), clubbed with advanced technologies and promotion by the governments of many countries across the world also drives the demand for fungicides in the agricultural sector. However, factors such as lack of education and awareness among the farmers and rise in instances of environmental toxicology, are restraining the growth of the fungicides market.
“Triazoles segment accounted for the largest market share in 2015 among the types of fungicides”
On the basis of type, fungicides have been segmented into benzimidazoles, dithiocarbamates, phenylamides, chloronitriles, strobilurins, and triazoles. Among these, triazoles accounted for the largest market share in 2015, followed by strobilurins and chloronitriles, respectively. Triazole fungicides have gained a renewed interest, particularly in the U.S. under the threat of Asian soybean rust, a fungal pathogen introduced via South America.
“Foliar spray segment led the market with the largest share in 2015”
On the basis of mode of application, the fungicides market has been segmented into foliar spray, seed treatment, soil treatment, and post-harvest. The market was led by foliar spray followed by soil treatment. Foliar is largely used by farmers because of its high efficiency and ease of use.
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