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Fungicides Market Size, Share, Growth, Demand And Report 2024-2032

The latest report by IMARC Group, titled “Fungicides Market Report by Type (Chemical, Biological), Form (Liquid, Dry), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), Mode of Action (Contact, Systemic), Application (Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest), and Region 2024-2032“, The global fungicides market size reached US$ 19.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.19% during 2024-2032.

Factors Affecting the Growth of the Fungicides Industry:

  • Increasing Demand for Crop Protection:

As per the United Nations, the global population is surging toward an estimated 9.8 billion by 2050, thus increasing the demand for food globally. This burgeoning demand necessitates a proportional increase in agricultural yields. Additionally, fungicides emerge as vital agents in safeguarding crops against fungal infestations which can decimate yields and compromise food security. These chemical compounds specifically target fungal pathogens that are notorious for causing extensive damage to a wide variety of crops including staples like wheat, rice, and corn. Moreover, the effective management of these diseases is critical for maintaining high yield rates and for ensuring that the quality of produce meets global food safety standards. Consequently, fungicide uses are extended beyond mere crop protection to becoming a fundamental component in the strategy to meet global food requirements efficiently.

  • Expansion of Agriculture:

In emerging economies, the expansion of agricultural sectors is essential for economic development and sustenance. As these regions experience rapid demographic and economic growth, there is a pronounced shift toward intensifying agricultural practices. It includes a wider adoption of fungicides as a part of integrated pest management strategies aimed at enhancing crop productivity. Additionally, the rationale behind this is straightforward: healthier crops lead to higher yields and, ultimately, greater economic returns. Moreover, as export markets develop, the need for compliance with international standards on food safety and plant health reinforces the demand for effective fungicides. These trends are indicative of a larger movement toward modern agricultural practices where the focus is on maximizing output while minimizing pre and post-harvest losses, thereby optimizing the agricultural value chain.

  • Technological Advancements in Fungicides

The field of agricultural biotechnology and chemical engineering is at the forefront of developing advanced fungicidal solutions that align with the pressing need for sustainability and environmental stewardship. Additionally, recent technological breakthroughs have facilitated the creation of novel fungicides that are more effective against a broader spectrum of fungal diseases and exhibit reduced toxicity and environmental degradation. Moreover, several innovations in formulation technology, such as encapsulation and targeted delivery systems, have significantly enhanced the efficacy of fungicides. These advancements ensure that the active ingredients are more precisely delivered to the site of fungal infection, thus reducing the amount needed and diminishing the risk of runoff into non-target environments. These developments are crucial in the current agricultural landscape, where the pressure to produce more food must be balanced with the imperative to preserve natural resources and mitigate environmental impact across the globe.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/fungicides-market/requestsample

Competitive Landscape with Key Player:

  • American Vanguard Corporation
  • Atticus, LLC
  • BASF SE
  • Bayer AG
  • Botano Health
  • Corteva Inc.
  • FMC corporation
  • Isagro SpA (Gowan Company LLC)
  • Marrone Bio Innovations Inc
  • Nufarm Limited
  • Sumitomo Chemical Co. Ltd.
  • Syngenta AG
  • Terramera Inc
  • UPL Limited

The report has segmented the market into the following categories:

Type Insights:

  • Chemical 
    • Triazoles
    • Strobilurins
    • Dithiocarbamates
    • Chloronitriles
    • Phenylamides
    • Others
  • Biological 
    • Microbials
    • Microchemical
    • Macrobials

Chemicals represent the largest segment due to their effectiveness, versatility, and broad spectrum of applications across various crops.

Form Insights:

  • Liquid 
    • Suspension Concentrates (SC)
    • Emulsifiable Concentrates (EC)
    • Soluble Liquid Flowables (SLC)
  • Dry 
    • Water Dispersible Granules (WDG)
    • Wettable Powder (WP)

Liquid accounts for the largest market share due to ease of application, better coverage, and compatibility with existing agricultural practices.

Crop Type Insights:

  • Cereals and Grains 
    • Corn
    • Wheat
    • Rice
    • Others
  • Oilseeds and Pulses 
    • Soybean
    • Cotton
    • Others
  • Fruits and Vegetables 
    • Apple
    • Pears
    • Cucumber
    • Potatoes
    • Grapes
    • Others
  • Others

Cereals and grains dominate market growth due to their large-scale cultivation, susceptibility to fungal diseases, and critical role in global food supply.

Mode of Action Insights:

  • Contact
  • Systemic

Contact holds the largest market share as it acts on the surface of plants, providing immediate protection against fungal infections without systemic uptake.

Application Insights:

  • Seed Treatment
  • Soil Treatment
  • Foliar Spray
  • Chemigation
  • Post-Harvest

Seed treatment represents the largest segment owing to its ability to protect seeds from soil-borne pathogens, ensuring early plant protection and enhanced crop yield.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific’s dominance in the fungicides market is attributed to extensive agricultural activities, high crop yields, and increasing adoption of modern farming techniques.

Global Fungicides Market Trends:

There is a growing preference for bio-fungicides due to their eco-friendly nature and minimal impact on non-target organisms. Additionally, with the rise of fungicide resistance in pathogens, there is a focus on developing new formulations and strategies to manage resistance effectively. Moreover, the widespread adoption of integrated pest management (IPM) to combine fungicides with other pest control methods is gaining popularity which helps in reducing reliance on chemical treatments alone. Besides this, the increasing regulatory scrutiny and stricter guidelines on chemical fungicides are influencing market dynamics and driving innovation toward safer alternatives across the globe.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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IMARC Group

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Email: sales@imarcgroup.com
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