Advancements in Farming Practices & Techniques Are Projected to Drive the Growth of the Fungicides Market

Northbrook, IL -- (SBWire) -- 12/07/2020 --The report "Fungicides Market by Type (Chemical and Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Action (Contact & Systemic), Mode of Application, Form, and Region - Global Forecast to 2025" The global fungicides market is estimated to be valued at USD 18.7 billion in 2019 and is projected to reach a value of USD 24.5 billion by 2025, growing at a CAGR of 4.6% during the forecast period. Factors such as the increase in demand for food security by the growing population and advancements in farming practices & techniques are projected to drive the growth of the fungicides market.

Download PDF Brochure

The liquid segment is projected to be the largest segment in the fungicides market during the forecast period.

Liquid forms can be water-based, oil-based, polymer-based, or their combinations. Water-soluble liquids (SL) are liquid formulations based on technical materials, which are insoluble in water and contain 36%–85% technical materials and solvents. Oil-based forms such as oil dispersions, which include EW (oil in water) & EO (water in oil) and emulsifiable concentrates, provide stable emulsions for foliar application. The emulsifiable concentrates (EC) are liquid formulations based on technical materials, which are not soluble in water and consists of 25%–80% technical materials, solvents, and emulsifiers.

The triazoles segment is estimated to account for the largest market share, in terms of value, in 2019.

Triazole fungicides, also known as sterol inhibitors (SIs), are a large class of fungicides used globally on a wide variety of crops. Their mode of action is the inhibition of ergosterol production, which is an essential sterol in the membranes of most fungi. Triazoles are used to control several diseases, such as powdery mildew, leaf spots, and rusts. The fungus then needs to form additional infection structures—an aspersorium and penetration peg. This requires the formation of new membranes and sterols, which is prevented by triazoles.

The cereals & grains segment, on the basis of crop type, is estimated to account for the largest market share, in terms of value, in 2019.

The cereals & grains segment in the market comprises different crops, such as rice, wheat, and corn. The production of cereals and grains vary across different regions, depending on the topography and climatic conditions. Due to this, the cereals & grains segment recorded the highest consumption of fungicides in the North American and Asia Pacific regions. According to the FAO, global cereal production in 2016 recorded nearly 2,543 million tons, which are around 0.6% higher than the previous year. Rice is the most widely consumed staple food, particularly in Asia. It is the second-most widely produced grain after corn.

Request for Customization

South America is projected to grow at the highest CAGR during the forecast period.

The market for fungicides in the South America region is projected to grow at the highest CAGR from 2019 to 2025. According to the FAOSTAT, Brazil is the largest producer of agricultural products due to the availability of abundant land and rural labor force, followed by Argentina. The growth of the South America market is majorly attributed to the increase in the adoption of agrochemicals and advancements in farming techniques in Brazil and Argentina, with the distribution channels established by global agrochemical players. Due to these factors, the market in the South America region is projected to record the highest growth from 2019 to 2025.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the fungicides market. It includes the profiles of leading companies, such as BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), UPL Ltd. (India), Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Isagro S.p.A (Italy), Nufarm (Australia), Adama Agricultural Solutions Ltd. (Israel), and Nissan Chemical Corporation (Japan), Marrone Bio Innovations, Inc. (US), Koppert Biological Systems (Netherlands), Bioworks, Inc. (US), STK Bio-ag Technologies (Israel), Verdesian Life Sciences (US), Seipasa S.A. (Spain), Ishihara Sangyo Kaisha, Ltd. (Japan), and Nutrichem (China).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441