Market Overview:

Fungicides are a kind of pesticides that primarily includes biological organisms or chemical compounds that inhibits or kills the fungus responsible for causing the disease. Fungicides are broadly employed in the agricultural segment for crop protection. The most generally used active ingredient in fungicides is sulfur. Fungicides are applied to inhibit and control the growth of fungal diseases in plants. It is employed to escalate crop productivity by providing adequate disease control support. The global fungicides market was worth USD 14.49 billion in 2019 and is estimated to reach USD 18.30 billion by 2024, expanding with a CAGR of 4.78%.

Market drivers and restraints:

Rising population and increasing demand for crops are driving the growth of the market. Furthermore, increasing demand for bio-fungicides for crop-protection from fungal diseases is expected to drive the growth of fungicides over the foreseen period. Also, the rising need for organic fruits & vegetables, and their awareness of health is fueling the world market. Additionally, high acceptance for integrated pest management (IPM) by the crop cultivator’s is adding fuel to the growth of the fungicides market. Nevertheless, toxicity caused owing to the consumption of fungicides and stringent laws in the use of specific products for crop production may hamper the business over the forecast period.

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Report segmented as:

By mode of treatment:

seed treatment
soil treatment
others
By form:

powder
liquids
others
By application:

fruits and vegetables
cereals and pulses
oilseeds and grains
others
Geographical analysis:

The global fungicides market is segregated into North America, Europe, Asia Pacific, and Rest of the world (RoW). Europe is leading this market followed by Asia Pacific. Germany has been accounted for a larger use of fungicides for protection of fruits and vegetables from diseases due to rising awareness about their advantages.

Important market players:

Some of the major players operating in the global fungicides market are BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), FMC Corporation (U.S.), Sumitomo Chemical Co., Ltd. (Japan), Adama Agricultural Solutions Ltd. (Israel), Bayer CropScience AG (Germany), DowDuPont Inc. (U.S.), Bioworks, Inc.(U.S.), Certis U.S.A. LLC (U.S.), Monsanto Company (U.S.).

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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