The fungicide active ingredients market worldwide is anticipated to expand at a 3.5% CAGR. According to projections, the market would be worth US$ 26,972.3 Mn by 2032, up from US$ 19,121.7 Mn in 2022.
Fungicides are the first found chemical compounds utilized by people to preserve plants from infections and pollution. This chemical compound reduces the fungal growth in crops and thus plays a significant role in the protection of crops.
It has been observed that diseases are the key source of damage to crops and plants that can be caused by a number of organisms. Fungi is the topmost cause of infection of plants all across the globe.
Apart from this, other diseases that hamper the growth of crops include nematodes, bacteria, and viruses. Fungicides have become a significant component in the management of plant diseases for agrarian crops.
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Fungicides are utilized both in agriculture as well as to kill fungal infections in animals. Fungicides are utilized as a formulated product comprising of an active ingredient and as well as inert ingredients that enhance the functioning of the product.
The global fungicide active ingredients market has grown at a rapid pace over the past few years and is anticipated to expand at a significant CAGR over the forecast period.
Global Fungicide Active Ingredients Market: Growth Drivers
Rising population leading to increase in food production which encourages the farmers to adopt optimum type fungicide for protection of crop in order to maximize the production and to minimize the risk related to crop infections. This is anticipated to expand the growth of global fungicide active ingredients market over the forecast period.
Apart from this, robust demand for fungicides in major applications such as vegetable and fruit crops and in ornamental and turf grass is also likely to foster the growth of worldwide fungicide active ingredients market from 2016-2026.
Expansion in population especially in developing countries such as India and China is expected to impel food related security concerns in the region which is likely to fuel the growth of global fungicide active ingredients market during the forecast period.
Global Fungicide Active Ingredients Market: Regional Outlook
Geographically, the Global Fungicide Active Ingredients industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa.
Europe captured the maximum market share in the total revenue of global fungicide active ingredients market in 2015. Rising population along with increasing the education level in developing countries is anticipated to bolster the growth of Asia Pacific fungicide active ingredients market over the forecast period. Besides this, Latin American fungicide active ingredients market is also expected to observe robust growth during the next few years.
Global Fungicide Active Ingredients Market: Players
Some of the leading players identified across the value chain of the global Fungicide Active Ingredients market include BASF, Bayer Cropscience, DuPont, Dow AgroSciences, Syngenta and Monsanto.
In 2015, BASF marked the highest market share in terms of revenue in global fungicide active ingredients market. Most of players also function regional research and testing centers across all the geographic locations in order to keep the product market oriented as per the need.
The companies are entering into widening their product portfolio and focusing on merger and acquisition in order to gain the competitive edge in global fungicide active ingredients market. Significant investment in research and development activities is expected by the companies over the coming few years in order to maintain the dominance in global fungicide active ingredients market in future.
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Regional analysis for Global Fungicide Active Ingredients Market includes
- North America
- US & Canada
- Latin America
- Brazil, Argentina & Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Fungicide Active Ingredients: Market Segmentation
The Global Fungicide Active Ingredients market is segmented on the basis of the type of active ingredients such as
- azoxystrobin
- boscalid
- chlorothalonil
- cyazofamid
- etridiazole (ethazole)
- fenarimol
- fludioxonil
- fluoxastrobin
- flutolanil
- fosetyl-Al
- iprodione
- mancozeb
- mefenoxam
- metconazole
- myclobutanil
- PCNB (quintozene)
- phosphites
- polyoxin D zinc
- propamocarb
- propiconazole
- pyraclostrobin
- tebuconazole
- thiophanate-methyl
- triadimefon
- trifloxystrobin
- triticonazole
- vinclozolin
The global fungicide active ingredients can also be bifurcated on the basis of application in crops such as
- cereals
- grains
- pulses
- oilseeds
- vegetables
- fruits
- others
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