Fungicides are a type of pesticides, which primarily includes biological organisms or chemical compounds that restricts the fungal diseases by inhibiting or killing the fungus responsible for causing the disease. Fungicides are widely used in the agricultural segment for the crop protection. The most commonly used active ingredient in fungicides preparation is sulfur. The most common chemical fungicides available in market includes: dithiocarbamates, phenylamides, benzimidazoles, triazoles, chloronitriles, strobilurins and others.
Furthermore, growing demand for organic fruits & vegetables, and their awareness towards health is boosting the market of fungicides. Additionally, high acceptance for integrated pest management (IPM) by the crop cultivator’s is adding fuel to the growth of the fungicides market. However, toxicity caused due the consumption of fungicides and stringent laws in the use of certain fungicides for crop production may hamper the market growth over the forecast period.
• Fungicides manufacturers
• Raw material suppliers
• Fertilizer manufacturers
• Retailers and wholesaler
• E-commerce industry
• Traders, importers, and exporters
• High demand for organic food products has surged the global market of bio-fungicides
• Bio-fungicides have a massive opportunity in the pesticides industry
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Key Players and Competition Analysis
Some of the key players profiled in the global fungicides market: BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), FMC Corporation (U.S.), Sumitomo Chemical Co., Ltd. (Japan), Adama Agricultural Solutions Ltd. (Israel), Bayer CropScience AG (Germany), DowDuPont Inc. (U.S.), Bioworks, Inc.(U.S.), Certis U.S.A. LLC (U.S.), Monsanto Company (U.S.)
Fungicides are segmented based on type, which includes chemical fungicides, bio-fungicides, and others. Among both, triazoles holds the major market share followed by strobilurins in the chemical fungicides segment. The primary reason for the growth of triazoles is their extensive use for the prevention of soybean rust, which is a fungal pathogen. However, high demand for bio-fungicides in crop protection is projected to uplift the market of fungicides at global level in the review period.
Based on mode of treatment, the fungicides market is segmented into seed treatment, soil treatment, and others. The seed treatment segment is dominating the market owing to ease of fungicides use on seeds by spraying technique. Furthermore, spraying of fungicides on fruits, stems and leaves is also easy.
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The global fungicides market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the fungicides market followed by Asia Pacific. Germany has been accounted for a higher use of fungicides for protection of fruits and vegetables from diseases owing to increasing awareness about the benefits of using fungicides.
Moreover, increasing consumer awareness and growing demand for organic fruits, vegetables, cereals and pulses have uplifted the demand for fungicides in Asia Pacific countries like India, China and Japan, which is likely to boost the growth of the fungicides market during the review period. Additionally, approval for the use of fungicides on commercial products by the regulatory authorities and government initiative for creating awareness about the correct use of fungicide among farmers for high crop yield is projected to raise the growth of the fungicides market.
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