Global Fungicides Market Outlook, Industry Analysis and Prospect 2022
Fungicides are a class of pesticides, which primarily consists of biological organisms or chemical compounds. They are widely used in the agricultural segment, which help to restrict the fungal diseases by inhibiting or killing the fungus responsible for the crop disease. The most commonly used active ingredient for fungicides preparation is sulfur. The most common chemical fungicides available in market includes: Dithiocarbamates, Phenylamides, Benzimidazoles, Triazoles, Chloronitriles, Strobilurins and others. Market Forecast: The amount of crop-loss due to fungal infections is increasing rapidly, which is a huge concern among the farmers and crop producers. This has increased the demand for fungicides, which help in providing adequate disease control support and increasing crop productivity. Additionally, rising demand for organic fruits, vegetables, cereals, and pulses is projected to drive the growth of fungicides market over the review period.
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Moreover, growing demand for organic
fruits & vegetables and their awareness towards health is boosting the
fungicides market growth. Furthermore, high acceptance for integrated pest
management (IPM) by the crop cultivator’s is adding fuel to the growth of the
fungicides market. However, toxicity caused due the consumption of fungicides
and stringent laws in the use of certain fungicides for crop production may
hinder the market growth over the review period. Nevertheless, all these
factors are projected to contribute to the estimated CAGR of 5.4% of fungicides
market during the forecast period 2017-2023.
Regional Analysis: The global fungicides market is segmented into North
America, Europe, Asia Pacific, and rest of the world (RoW). Europe is
dominating the global fungicides market followed by Asia Pacific. Germany
accounts for a higher use of fungicides for protection of fruits and vegetables
from fungal diseases owing to increasing awareness about the benefits of using
fungicides. Furthermore, high demand for organic fruits and vegetables from the
farmers is considered to be key driving factor in this region
Furthermore, increasing consumer
awareness and growing demand for organic fruits, vegetables, cereals and pulses
has uplifted the demand for fungicides in Asia Pacific countries like India,
China and Japan. Thus, it is expected to boost the growth of the fungicides
market during the review period. Additionally, regulatory approval for the use
of fungicides on commercial products and government initiative for creating
awareness about the accurate use of fungicide among farmers for high crop yield
is projected to raise the growth of the fungicides market.
Market Segmentation: Fungicides Market is segmented on the basis of type, mode of
treatment, form, application and region.
Downstream Analysis: Fungicides are segmented on the basis of type, which
includes chemical fungicides, bio-fungicides and others. Triazoles holds the
major market share followed by strobilurins in the chemical fungicides segment.
The main reason for the growth of triazoles is their broad use for prevention
of soybean rust, which is considered to be a fungal pathogen.
On the basis of mode of treatment,
the fungicides market is segmented into seed treatment, soil treatment, and
others. Among all the mode of treatment, the seed treatment segment is
dominating the market owing to ease of fungicides use on seeds by spraying
technique.
Key Players
ADAMA Agricultural Solutions Ltd
(Israel), Bayer Cropscience AG (Germany), DowDupont (US), Sumitomo Chemical
Co., Ltd (Japan), BASF SE (Germany), Nufarm Limited (Australia), Nippon Soda
Co. Ltd (Japan), Syngenta AG (Switzerland), FMC Corporation (United States),
UPL Limited (India), Marrone Bio Innovations Inc. (US), Isagro Spa (Italy),
American Vanguard Corporation (US), Bioworks Inc (US), and Natural Industries
(US) are some of the key players in the global fungicides market.
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