Fungicides Market Research Report Forecast to 2022
The Global Fungicides Market will grow at a CAGR of 5.0% from 2017 to 2022 to reach
USD 17,210.8 million by 2022, according to the latest publication from
Meticulous Research®. The global fungicides market
is primarily driven by the reduction in fertile and arable land, improving
the resistance of fungi, increasing crop losses due to fungi, advanced
agricultural practices and technologies, growing need of higher crop quality
and yield, and increasing post-harvest losses. Further, integrated pest
management (IPM), and developing nations provide significant opportunities to
fungicides manufactures in this market. However, stringent regulations for food
safety and quality, increasing awareness regarding the side-effects of crop
protection chemicals, increasing cases of soil toxicity, and lengthy product
registration process obstructs the growth of this market to some extent.
The global fungicides
market is mainly segmented by type, crop type, mode of application, and by
form. On the basis of type, the market is segmented as chemical and biological.
The chemical fungicides market dominated the overall market in 2016 and is also
estimated to continue its dominance over the forecast period, owing to its easy
availability, low cost, and higher efficiency as compared to biological
fungicides.
On the basis of crop
type, the market is segmented into cereals and grains, oilseeds and pulses,
fruits and vegetables, turf grass and ornamentals, and others. The Cereals and
grains crop type commanded the largest share in the global fungicides market in
2016, owing to their large production across the globe and increasing adoption
of fungicides by farmers to control the yield losses.
On the basis of mode of
application, the market is segmented into spraying, dusting, soil treatment,
seed treatment, volatilization, post-harvest, and others. The spraying
application accounted for the largest share in the global fungicides market in
2016, owing to its higher efficiency and simplicity as compared to other modes
of applications.
Geographically, Latin
America accounted for the largest share in the global fungicides market in
2016, followed by Europe and Asia-Pacific region. The largest share of the
Latin America region is mainly attributed to the large arable land, increasing
demand for crop yield & efficiency, increasing crop yield losses, less
stringent laws related to food safety, increased crop yield, higher adoption of
advanced technologies, and availability of government funding. However,
Asia-Pacific region is slated to register the fastest growth during the
forecast period, primarily due to the large area under agriculture cultivation,
growing need to increase crop yield due to increasing population, increasing
organic farming and use of biological fungicides, and increasing government
funding.
The leading companies
have employed various strategies to expand their product and application
offerings, global footprint, and augment their market shares. The key players
in the global fungicides market are Drexel Chemical Company, Monsanto Company,
Biostadt India Limited, Arysta LifeScience Corporation, FMC Corporation,
Syngenta, BASF Corporation, Bayer Crop Science Ag, E.I. Dupont Nemours and
Company, Sumitomo Chemical Co. Ltd., Nufarm Limited, The Dow Chemical Company,
Adama Agricultural Solutions Ltd., Heranba Industries Ltd., and UPL Limited.
About Meticulous Research®
MeticulousResearch® is founded in 2010 and incorporated
as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company
under the Companies Act, 1956. Since its incorporation, the company has become
the leading provider of premium market intelligence in North America, Europe,
Asia-Pacific, Latin America, and Middle East & Africa.
Contact Us:
Viren Shrivastava
Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Tel: +1-646-781-8004
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