Global Fungicides Market
By Type (Synthetic Fungicides, Dithiocarbamates, Benzimidazoles, Chloronitriles,
Triazoles, Phenyl amides, Strobilurins) By Crop Type (Cereals & Grains, Oilseeds
& Pulses, Fruits & Vegetables) and Region - Global Forecast to 2024
Fungicides
are defined as a type of biological organism that controls fungal disease by
killing the fungus. It is widely used for the prevention of fungal disease that
affects plants. Fungicides help to enhance the quality of the crop. It is also
used in animals to prevent them from fungal infection. Fungicides are gaining
popularity among the farmers due to their various properties such as high crop
yield, better quality crop production and others.
Market Size and Forecast
Global
fungicides market is anticipated to flourish at a CAGR of 6.1% over the
forecast period. Additionally, the market is expected to
reach USD 16.1 Billion by the end of 2024. Further, the growth
of fungicides market is attributed to various factors such as rapidly growing
population and increasing awareness among farmers.
On the
basis of synthetic type, the triazoles segment is expected to project a highest
CAGR by the end of 2024 owing to low cost. Furthermore, cereals & grains by
crop type segment accounted for the largest market share in 2016. Likely,
cereals & grains are estimated to grow at a highest CAGR by the end of 2024
owing to the increased awareness regarding their nutritional benefits.
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In terms
of geography, Europe region in 2016 accounted for the highest market share of
36% of the overall fungicides market. Europe is anticipated to witness
significant growth owing to the increase in use of fungicides through advanced
agricultural techniques. Moreover, Western European countries are the major
countries attributing towards the growth of fungicides market. In addition to
this, presence of major fungicides vendors in the region is envisioned to
foster the growth of fungicides market by the end of 2024.
Asia-Pacific
region accounted for the second largest market of fungicides owing to favorable
government initiatives to increase the crop yield and to enhance quality of the
crop. The major countries witnessing the augmented demand for fungicides are
Japan, China and India. Additionally, China is the dominating country in this
region owing to growing population and rise in need for food security. North
America region is also projected to showcase a tremendous growth during the
forecast period owing to rising demand for agricultural products coupled with
modern farming techniques. Further, U.S. is expected to contribute significant
revenue to the global fungicides market during the forecast period.
Market Segmentation
Our
in-depth analysis has segmented global fungicides market into the following
segments:
By Type
Synthetic
Fungicides
Dithiocarbamates
Benzimidazoles
Chloronitriles
Triazoles
Phenylamides
Strobilurins
Others
Bio
Fungicides
By Crop Type
Cereals
& Grains
Oilseeds
& Pulses
Fruits
& Vegetables
Others
By Region
Global
fungicides market is further classified on the basis of region as follows:
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity
Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis.
Middle
East and Africa (GCC, North Africa, South Africa, Rest of Middle East and
Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
Rising
global population along with growing demand for food, grains, vegetables and
other agricultural products are believed to be the major factors propelling the
growth of global fungicides market. Additionally, increase in crop loss due to
fungal diseases and rise in food security concerns for the growing population
are anticipated to be the dynamic factor behind the rapid growth of fungicides
market. Further, rising adoption of fungicides in agriculture sector to enhance
the quality and quantity of production of grains, vegetables and fruits and growing
demand for crop protection are expected to flourish the growth of fungicides
market across the globe.
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Moreover,
growing awareness regarding the benefits of fungicides among farmers along with
change in farming practices (from traditional to conventional) are envisioned
to positively impact the growth of fungicides market.
However,
rising environmental and health concerns related with continuous usage of
synthetic fungicides is projected to dampen the growth of fungicides market.
Key Players
Syngenta
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
Monsanto
Nufarm Ltd
Adama
Agricultural Solutions Ltd
FMC
Corporation
Cheminova
A/S
Bayer AG
BASF SE
DOW
Agroscience LLC
Pesticide
Company Consolidations
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The global
fungicides market is segmented as follows:
By Type
Market Size & Y-O-Y Growth Analysis
By Crop
Type Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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