Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 19.89 billion

CAGR (2023-2028)

5.92%

Fastest Growing Segment

Biofungicides

Largest Market

Asia-pacific

 

Market Overview

Global Fungicides Market has valued at USD 19.89 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.92% through 2028. The global fungicides market is a dynamic and essential segment of the agricultural chemicals industry, playing a crucial role in safeguarding crop yields and quality worldwide. Fungicides are chemical or biological agents designed to combat fungal diseases that can devastate crops, reduce agricultural productivity, and compromise food security. This market has witnessed significant growth and innovation over the years, driven by the increasing demand for high-quality agricultural products, the expansion of farming practices, and the constant threat of fungal pathogens.

One of the primary drivers of the global fungicides market is the ever-growing global population, which continues to exert pressure on the agriculture sector to produce more food. Fungal diseases can lead to substantial crop losses, making fungicides an indispensable tool for farmers seeking to protect their investments and ensure stable food supplies. Additionally, the expansion of agricultural practices, including the cultivation of high-value cash crops and the adoption of precision farming techniques, has fueled the demand for fungicides, as these practices often involve intensive management and protection against various fungal pathogens.

The global fungicides market offers a diverse range of products, including chemical fungicides and biofungicides. Chemical fungicides, such as triazoles and strobilurins, have traditionally dominated the market due to their effectiveness and rapid action. However, there is a growing trend towards biofungicides, which are considered more environmentally friendly and sustainable. These biological alternatives harness the power of microorganisms, natural compounds, or plant extracts to control fungal diseases, aligning with the increasing emphasis on sustainable and organic farming practices.

Key Market Drivers

Increasing Global Population and Food Demand

The increasing global population and the surging demand for food are among the most significant drivers propelling the growth of the global fungicides market. As the world's population continues to expand, so does the need for sustenance. This exponential growth places tremendous pressure on the agricultural sector to produce higher yields of crops to feed the billions of people inhabiting the planet. However, this intensified agriculture comes with its own set of challenges, one of which is the proliferation of fungal diseases in crops.

Fungal diseases can wreak havoc on agricultural productivity by causing crop losses, reducing the quality of harvests, and threatening food security. In this context, fungicides serve as invaluable tools for farmers worldwide. They enable farmers to protect their crops from fungal pathogens, thus ensuring a consistent and reliable food supply. Without fungicides, the escalating global demand for food would be difficult to meet, potentially leading to food shortages and rising prices.

The role of fungicides becomes particularly critical in regions where food production is already under stress due to factors like limited arable land, adverse climatic conditions, and inadequate infrastructure. Fungicides help mitigate the risks associated with fungal diseases, providing a lifeline for farmers striving to maximize their yields and contribute to meeting the dietary needs of growing populations.

Moreover, the global food supply chain has become increasingly interconnected. Agricultural products are transported across borders to meet the demands of different regions and countries. To ensure the safety and quality of these products during transit, fungicides play a crucial role in preventing post-harvest fungal infestations and deterioration.

Increasing Expansion of Agricultural Practices

The expansion of agricultural practices is a significant driver behind the burgeoning growth of the global fungicides market. Modern farming techniques and practices have evolved substantially, reflecting a shift towards precision agriculture and intensified cultivation methods. While these practices offer the promise of higher crop yields and improved agricultural productivity, they also bring about increased susceptibility to fungal pathogens. This vulnerability has propelled the demand for fungicides as an essential tool for farmers seeking to protect their crops and investments.

Precision agriculture, characterized by the use of advanced technologies such as GPS-guided machinery and data analytics, allows farmers to optimize their land use and crop management. However, these practices often involve monoculture and the cultivation of high-value cash crops, which can create favorable conditions for the proliferation of fungal diseases. As a result, farmers increasingly rely on fungicides to mitigate the risks posed by these intensive farming methods and ensure the success of their agricultural endeavors.

Furthermore, the global expansion of agricultural practices goes beyond precision agriculture. It encompasses the adoption of advanced irrigation systems, the incorporation of genetically modified (GM) crops with improved traits, and the use of specialized equipment and machinery for planting and harvesting. These innovations, while contributing to increased crop production, also require adequate protection against fungal pathogens that can undermine the potential benefits of these practices. Fungicides, with their ability to control and manage fungal diseases effectively, become indispensable in maintaining the sustainability and profitability of modern agricultural operations.

The expansion of agricultural practices is not limited to developed countries but is also prevalent in emerging economies seeking to modernize their agricultural sectors. As these nations strive to improve food security and enhance their agricultural outputs, they inevitably encounter the challenges posed by fungal diseases.

Climate Change and Fungal Disease Proliferation

Climate change is a compelling driver that is significantly impacting the global fungicides market. As the Earth's climate undergoes unprecedented shifts, it has brought about altered weather patterns, increased temperatures, and more frequent extreme weather events. These changes have created favorable conditions for the proliferation of fungal diseases in crops, posing a severe threat to global agricultural productivity. In response to this escalating risk, farmers are increasingly turning to fungicides to protect their crops and mitigate the potentially devastating consequences of climate-induced fungal diseases.

Rising temperatures and increased humidity provide ideal environments for many fungal pathogens to thrive. These conditions enable fungi to reproduce rapidly and infect crops, leading to yield losses and reduced crop quality. Additionally, changes in precipitation patterns, including more frequent and intense rainfall events, can facilitate the spread of fungal spores and exacerbate disease outbreaks. In such scenarios, fungicides are crucial for preventing and controlling fungal infections, helping to maintain crop yields in the face of changing climate conditions.

Extreme weather events, such as prolonged periods of heavy rain or heatwaves, can create exceptional challenges for farmers, as these conditions often amplify the risk of fungal diseases. Fungicides offer a proactive solution by allowing farmers to protect their crops against fungal pathogens during these vulnerable periods. They serve as a crucial tool to ensure crop resilience and minimize the economic losses associated with unpredictable weather patterns driven by climate change.

Furthermore, the consequences of climate-induced fungal disease outbreaks extend beyond individual farms. Crop losses can disrupt food supply chains, leading to food shortages and increased prices for consumers. This underscores the importance of fungicides not only in safeguarding agricultural productivity but also in maintaining food security on a global scale.


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Key Market Challenges

Resistance Development in Fungal Pathogens

Resistance development in fungal pathogens is a significant challenge that is hindering the global fungicides market. Fungicides play a critical role in protecting crops from devastating fungal diseases, but the emergence of resistance in these pathogens threatens the effectiveness of these essential agricultural tools.

Fungal pathogens have demonstrated an astonishing ability to adapt and evolve in response to the repeated exposure to fungicides. This adaptation often results in the development of resistance mechanisms that render the fungicides ineffective. Fungal resistance can occur due to various factors, including genetic mutations and the selection of resistant strains through natural processes.

The consequences of fungal resistance are far-reaching. Farmers rely on fungicides to safeguard their crops and maintain agricultural productivity. When resistance develops, the efficacy of these fungicides diminishes, leading to reduced disease control and increased crop losses. This not only affects farmers' incomes but also has broader implications for food security, as diminished crop yields can lead to food shortages and rising prices.

The management of resistance is a complex and ongoing challenge for the fungicides market. To combat resistance, farmers often resort to using higher dosages of fungicides or switching to different classes of fungicides with distinct modes of action. While these strategies can provide temporary relief, they are not sustainable in the long run. Increased fungicide dosages can have detrimental effects on the environment and can further contribute to resistance development.

Regulatory Hurdles and Stringent Standards

Regulatory hurdles and stringent standards pose significant challenges to the global fungicides market, impacting manufacturers, farmers, and consumers alike. While regulations are essential for ensuring the safety of agricultural chemicals and protecting the environment, they can also create complexities and obstacles within the fungicides industry.

One of the primary regulatory challenges is the rigorous testing and assessment required before fungicides can be approved for use. Regulatory authorities around the world demand extensive data on the safety and efficacy of fungicides, including their impact on human health, non-target organisms, and the environment. This extensive testing process can be time-consuming and costly for fungicide manufacturers, delaying the introduction of new products to the market.

Moreover, regulatory standards are continually evolving, often becoming more stringent over time. As our understanding of the potential risks associated with fungicides expands, authorities may introduce stricter regulations or revise existing ones to address emerging concerns. While these changes aim to enhance safety and sustainability, they can also disrupt the fungicides market by requiring manufacturers to reformulate existing products or withdraw certain fungicides from the market entirely.

Key Market Trends

Growing Awareness of Fungal Threats

The global fungicides market is experiencing a notable surge in demand, and one of the key drivers behind this growth is the growing awareness of fungal threats among farmers and agricultural stakeholders. Fungal diseases pose a significant risk to crop health, agricultural productivity, and global food security. As awareness of these threats continues to increase, farmers are becoming more proactive in adopting preventive and protective measures, with fungicides playing a pivotal role.

Farmers are increasingly recognizing the devastating impact fungal diseases can have on their crops. These diseases can lead to substantial yield losses, reduced crop quality, and economic setbacks. With a growing global population and the need to produce more food, the consequences of fungal diseases have become more pressing than ever. Farmers are turning to fungicides as a vital tool in their arsenal to safeguard their crops from these insidious threats.

Moreover, the awareness of fungal threats has been heightened by educational initiatives, information dissemination, and access to knowledge through digital platforms. Agricultural extension services, online resources, and collaboration among researchers and farmers are contributing to a deeper understanding of the risks posed by fungal pathogens. As farmers gain access to information about disease cycles, symptoms, and the importance of early intervention, they are increasingly inclined to incorporate fungicides into their crop management strategies.

The awareness of fungal threats is not limited to experienced farmers but extends to new and emerging farmers, particularly in regions where agriculture is expanding. As these farmers become aware of the challenges posed by fungal diseases, they are more likely to adopt fungicides as a preventive measure, thereby boosting the fungicides market.

Rise of Biological Fungicides

The global fungicides market is experiencing a notable shift with the rise of biological fungicides, which is significantly boosting the industry. Biological fungicides, often derived from natural sources such as microorganisms, plant extracts, and beneficial insects, have gained prominence due to their eco-friendly and sustainable attributes.

One of the key factors driving the adoption of biological fungicides is the increasing emphasis on sustainable agriculture and environmentally friendly farming practices. Consumers are increasingly concerned about the environmental impact of chemical pesticides, including fungicides, and are demanding food products that are produced with minimal harm to the ecosystem. This trend has prompted farmers to explore alternative options, and biological fungicides offer a viable solution.

Biological fungicides are favored for their ability to control fungal diseases effectively while posing minimal risks to non-target organisms and the environment. Unlike chemical fungicides, which can have unintended consequences on beneficial insects and aquatic life, biological fungicides work in harmony with natural ecosystems. This makes them an attractive choice for organic farming and integrated pest management (IPM) systems, further boosting their demand in the fungicides market.

Additionally, biological fungicides are compatible with the growing market for organic food products. Consumers are increasingly seeking organic and pesticide-free options, and biological fungicides align with these preferences. This trend has driven organic farmers to adopt biological fungicides as a safer and sustainable alternative to chemical counterparts, thus expanding their market presence.

Biological fungicides also contribute to the long-term sustainability of agriculture by minimizing the development of resistance in fungal pathogens. The modes of action of biological fungicides are distinct from chemical fungicides, which can help prevent or delay the emergence of resistant fungal strains. This is a crucial benefit as resistance development has been a significant challenge in the fungicides market.

Segmental Insights

Product Insights

Based on the Product, Triazoles & Diazoles emerged as the dominant segment in the global market for Global Fungicides Market in 2022. Triazoles and diazoles are effective against a wide spectrum of fungal pathogens, including both foliar and soil-borne diseases. They are versatile and can be used on various crops, including cereals, fruits, vegetables, and ornamentals, making them suitable for a broad range of agricultural applications. Their systemic nature allows these fungicides to move within the plant, reaching different parts of the crop, including the leaves, stems, and even roots. This provides comprehensive protection and reduces the need for frequent reapplications. Triazoles and diazoles typically offer longer-lasting protection compared to some other fungicide classes. Their residual activity means they can continue to protect crops even after application, reducing the risk of disease outbreaks..

Application Insights

Based on the Application, the Cereals & Grains segment emerged as the dominant player in the global market for Global Fungicides Market in 2022. Cereals and grains, such as wheat, rice, corn, and barley, are some of the most widely cultivated crops globally. They serve as staple food sources for billions of people. Due to their large-scale production, the demand for fungicides to protect these crops from fungal diseases is substantial. Cereals and grains are particularly vulnerable to a variety of fungal pathogens, including rusts, smuts, and blights. These diseases can significantly reduce crop yields and quality if not effectively managed. As a result, farmers rely heavily on fungicides to protect their cereal and grain crops..

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Regional Insights

Asia-pacific emerged as the dominant player in the global Fungicides Market in 2022, holding the largest market share. The Asia-Pacific region is home to some of the world's most populous countries, including China and India, which have vast agricultural sectors. The sheer scale of agricultural production in these countries creates a substantial demand for fungicides to protect crops from fungal diseases. Asia-Pacific is characterized by a wide variety of crops grown across different climatic zones. This diversity in crop cultivation increases the need for fungicides to combat a range of fungal pathogens that thrive under varying environmental conditions. With a rapidly growing population, the Asia-Pacific region faces increasing pressure to enhance food production. Fungicides play a crucial role in safeguarding crop yields and quality, which is essential to meet the rising demand for food and ensure food security.

Recent Developments

  • In August 2022, Syngenta introduced its new TYMIRIUM technology platform brand, which represents an innovative nematicide and fungicide technology currently in the development stage for both seed and soil applications. This user-friendly solution demonstrates exceptional performance in effectively managing nematode infestations and combating fungal diseases.
  • In May 2022, UPL made an acquisition by adding OptiCHOS, a naturally derived fungicide, to its Natural Plant Protection (NPP) business unit. This strategic move aims to enhance the company's global footprint by diversifying its product portfolio and expanding its market presence.

Key Market Players

  • Nufarm Ltd.
  • FMC Corporation
  • Cheminova A/S
  • Bayer CropScience
  • Syngenta AG
  • Dow AgroSciences
  • Lanxess AG
  • Monsanto
  • Adama Agricultural Solutions
  • Simonis B.V

 By Product

By Application

By Region

  • Inorganics
  • Benzimidazoles
  • Dithiocarbamates
  • Triazoles & Diazoles
  • Biofungicides
  • Others
  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa
Report Scope:

In this report, the Global Fungicides Market   has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Fungicides Market, By Product:

o   Inorganics

o   Benzimidazoles

o   Dithiocarbamates

o   Triazoles & Diazoles

o   Biofungicides

o   Others

  • Global Fungicides Market, By Application:

o   Cereals & Grains

o   Oilseeds & Pulses

o   Fruits & Vegetables

o   Others

  • Global Fungicides Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fungicides Market.

Available Customizations:

Global Fungicides Market   report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Fungicides Market   is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Global Fungicides Market Outlook

4.1.  Market Size & Forecast

4.1.1.    By Value

4.2.  Market Share & Forecast

4.2.1.    By Product (Inorganics, Benzimidazoles, Dithiocarbamates, Triazoles & Diazoles, Biofungicides, Others)

4.2.2.    By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others)

4.2.3.    By Region

4.2.4.    By Company (2022)

4.3.  Market Map

4.3.1.    By Product

4.3.2.    By Application

4.3.3.    By Region

5.    Asia Pacific Fungicides Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Product

5.2.2.    By Application

5.2.3.    By Country

5.3.  Asia Pacific: Country Analysis

5.3.1.    China Fungicides Market Outlook

5.3.1.1.        Market Size & Forecast

5.3.1.1.1.           By Value

5.3.1.2.        Market Share & Forecast

5.3.1.2.1.           By Product

5.3.1.2.2.           By Application

5.3.2.    India Fungicides Market Outlook

5.3.2.1.        Market Size & Forecast

5.3.2.1.1.           By Value

5.3.2.2.        Market Share & Forecast

5.3.2.2.1.           By Product

5.3.2.2.2.           By Application

5.3.3.    Australia Fungicides Market Outlook

5.3.3.1.        Market Size & Forecast

5.3.3.1.1.           By Value

5.3.3.2.        Market Share & Forecast

5.3.3.2.1.           By Product

5.3.3.2.2.           By Application

5.3.4.    Japan Fungicides Market Outlook

5.3.4.1.        Market Size & Forecast

5.3.4.1.1.           By Value

5.3.4.2.        Market Share & Forecast

5.3.4.2.1.           By Product

5.3.4.2.2.           By Application

5.3.5.    South Korea Fungicides Market Outlook

5.3.5.1.        Market Size & Forecast

5.3.5.1.1.           By Value

5.3.5.2.        Market Share & Forecast

5.3.5.2.1.           By Product

5.3.5.2.2.           By Application

6.    Europe Fungicides Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Product

6.2.2.    By Application

6.2.3.    By Country

6.3.  Europe: Country Analysis

6.3.1.    France Fungicides Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Product

6.3.1.2.2.           By Application

6.3.2.    Germany Fungicides Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Product

6.3.2.2.2.           By Application

6.3.3.    Spain Fungicides Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Product

6.3.3.2.2.           By Application

6.3.4.    Italy Fungicides Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Product

6.3.4.2.2.           By Application

6.3.5.    United Kingdom Fungicides Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Product

6.3.5.2.2.           By Application

7.    North America Fungicides Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Product

7.2.2.    By Application

7.2.3.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Fungicides Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Product

7.3.1.2.2.           By Application

7.3.2.    Mexico Fungicides Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Product

7.3.2.2.2.           By Application

7.3.3.    Canada Fungicides Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Product

7.3.3.2.2.           By Application

8.    South America Fungicides Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Product

8.2.2.    By Application

8.2.3.    By Country

8.3.  South America: Country Analysis

8.3.1.    Brazil Fungicides Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Product

8.3.1.2.2.           By Application

8.3.2.    Argentina Fungicides Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Product

8.3.2.2.2.           By Application

8.3.3.    Colombia Fungicides Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Product

8.3.3.2.2.           By Application

9.    Middle East and Africa Fungicides Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Product

9.2.2.    By Application

9.2.3.    By Country

9.3.  MEA: Country Analysis

9.3.1.    South Africa Fungicides Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Product

9.3.1.2.2.           By Application

9.3.2.    Saudi Arabia Fungicides Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Product

9.3.2.2.2.           By Application

9.3.3.    UAE Fungicides Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Product

9.3.3.2.2.           By Application

9.3.4.    Egypt Fungicides Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.           By Value

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.           By Product

9.3.4.2.2.           By Application

10. Market Dynamics

10.1.             Drivers

10.2.             Challenges

11. Market Trends & Developments

11.1.             Recent Developments

11.2.             Product Launches

11.3.             Mergers & Acquisitions

12. Global Fungicides Market: SWOT Analysis

13. Porter’s Five Forces Analysis

13.1.             Competition in the Industry

13.2.             Potential of New Entrants

13.3.             Power of Suppliers

13.4.             Power of Customers

13.5.             Threat of Substitute Product

14. Competitive Landscape

14.1.      Nufarm Ltd.

14.1.1.         Business Overview

14.1.2.          Company Snapshot

14.1.3.          Products & Services

14.1.4.          Current Capacity Analysis

14.1.5.          Financials (In case of listed)

14.1.6.          Recent Developments

14.1.7.          SWOT Analysis

14.2.   FMC Corporation

14.3.   Cheminova A/S

14.4.   Bayer CropScience

14.5.   Syngenta AG

14.6.   Dow AgroSciences

14.7.   Lanxess AG

14.8.   Monsanto

14.9.   Adama Agricultural Solutions

14.10.Simonis B.V.

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Fungicides Market was estimated to be USD 19.89 billion in 2022.

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Nufarm Ltd., FMC Corporation, Cheminova A/S, Bayer CropScience, Syngenta AG, Dow AgroSciences, Lanxess AG, Monsanto, Adama Agricultural Solutions, Simonis B.V, etc. are some of the key players operating in the Global Fungicides Market.

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Development of resistance in fungal pathogens, posing a threat to the efficacy of fungicides. Additionally, increasing regulatory scrutiny and demands for environmentally friendly alternatives signify a major challenge for the Global Fungicides Market.

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Growing global population and food demand, which necessitate higher crop yields and protection against fungal diseases. Additionally, climate change-induced fungal disease proliferation are majorly driving the global fungicides market.

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Sakshi Bajaal

Business Consultant
Press Release

Fungicides Market to Grow with a CAGR of 5.92% through 2028

Oct, 2023

Climate change and fungal disease proliferation is expected to drive the Global Fungicides Market growth in the forecast period, 2024-2028.