Global fungicides market was estimated at $13.4 billion in 2019, and is set to reach $19.5 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Increase in incidence of plant diseases, limited arable land, and rise in adoption of modern farming fuel the growth of the global fungicides market. On the other hand, inappropriate use of fungicides and advent of organic farming curtail down the growth to some extent. Nevertheless, upsurge in demand for bio-fungicide is anticipated to pave the way for multiple opportunities in the near future.
By active ingredient, the triazoles segment contributed to nearly one-fifth of the total market share in 2019, and is projected to dominate during the study period. Simultaneously, the phenylamides segment would manifest the fastest CAGR of 5.8% by the end of 2027. The report also assesses the other segments namely Dithiocarbamates, Benzimidazoles, Chloronitriles, and Strobilurins.
By crop type, the fruits & vegetables segment accounted for nearly two-fifths of the total market revenue in 2019, and is expected to retain its dominance throughout the estimated period. Simultaneously, the cereals & grains segment would project the fastest CAGR of 4.9% from 2020 to 2027. The oilseeds & pulses segment is also studied in the report.
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By region, Europe garnered the major share in 2019, holding more than two-fifths of the global market. At the same time, the region across Asia-Pacific would grow at the fastest CAGR of 5.2% by 2027. The other regions evaluated in the report include North America and LAMEA.
Key players in the industry-
The key market players analyzed in the global fungicides market report include BASF SE, Bayer AG, Syngenta AG, Tata Chemicals Ltd. FMC Corporation, Novo Nordisk AG, Corteva Inc., Nufarm Ltd., Adama Ltd., and Sumitomo Chemical Company. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Key Benefits For Stakeholders
- The report provides an in-depth analysis of the forecast along with the current and future market trends
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the industry for strategy building
- The qualitative data in this report aims on market dynamics, fungicides market trends, and developments
- A comprehensive analysis of the factors that drive and restrain the fungicides market growth are provided
- The fungicides market size is provided in terms of revenue and volume
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