The Global Fungicides Market size is expected to grow from USD 21.33 billion in 2023 to USD 31.16 billion by 2032, at a CAGR of 4.3% during the forecast period (2024-2032).
Fungicides are the type of pesticides that are widely used to kill fungi and fungi spores, control rust, mildew, and blights, and prevent crops from any fungal infection. The rising demand for fungicides is found majorly in high-value crops, such as grapes, pome fruits, cotton, tomato, maize, and other ornamental & vegetable crops, as they help in improving crop quality and yield. The increasing prevalence of various harmful crop diseases, changes in environmental conditions, rising health concerns among farmers, and growing awareness regarding the benefits of using fungicides are driving factors in the fungicides market.
Market Dynamics And Factors For Fungicides Market
Drivers:
Upsurge of Several Harmful Diseases
Climate change is a severe concern for any agricultural production all around the world. Any sudden changes in the climatic condition may adversely affect the crop production and give rise to various pests and diseases. Owing to such changes in temperature and a rise in atmospheric moisture content, crops are susceptible to growth of harmful fungal diseases and fungi on the plant. In order to avoid any crop losses due to fungi, farmers are inclined towards the adequate utilization of fungicides.
Restraints:
Increasing Resistance to Active Ingredients
Among all the fungicides and pesticides that are used, chemical pesticides are widely used for preventing crop losses as they are easy to handle and use, and are comparatively cheaper. The random and inappropriate usage of such fungicides cause several negative effects on the crop health. Additionally, using such fungicides or pesticides on the crop continuously, may cause the fungus on the plant to develop resistance against the products.
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What Are The Top Companies In The Fungicides Market:
Sumitomo Chemical Co. Ltd (Japan),PI Industries (India),FMC Corporation (USA),ADAMA Ltd. (Israel),BASF SE(Germany),UPL(India),Bayer AG (Germany),Syngenta AG(Switzerland),The Dow Chemical Company (US),Cheminova A/S(Denmark),Chemtura Corporation (US),Bioworks Inc (United States),American Vanguard Corporation (US) and other major players.
The report provides a forecast of the Fungicides Market across regions, types, and applications, projecting sales and revenue from 2024 to 2032. It emphasizes Fungicides Market Share, distribution channels, key suppliers, evolving price trends, and the raw material supply chain. The Fungicides Market Size report furnishes essential insights into the current industry valuation and presents market segmentation, highlighting growth prospects within this sector.
Fungicides Market Segmentation
By Type
· Chemical
· Biological
By Crop type
· Cereals and Grains
· Oilseeds and Pulses
· Fruits and Vegetables
By Mode of Application
· Seed treatment
· Foliar spray
· Soil treatment
· Post-harvest
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Regional Analysis of the Fungicides Market:
By Region:
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Report includes Competitor's Landscape:
· Major trends and growth projections by region and country
· Key winning strategies followed by the competitors
· Who are the key competitors in this industry?
· What shall be the potential of this industry over the forecast tenure?
· What are the factors propelling the demand for the Action Figures And Statues?
· What are the opportunities that shall aid in significant proliferation of the market growth?
· What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
· How has the covid-19 impacted the growth of the market?
· Has the supply chain disruption caused changes in the entire value chain?
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