Global Fungicides Market

Global Fungicides Market Size, Share, Growth Analysis, By Type(Synthetic Fungicides and Biofungicides), By Crop(Cereals and Grains, and Fruits and Vegetables) - Industry Forecast 2024-2031


Report ID: SQMIG15E2202 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 60 | Figures: 75

Global Fungicides Market Insights

Global Fungicides Market size was valued at USD 19.20 billion in 2022 and is poised to grow from USD 20.14 billion in 2023 to USD 29.53 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

Global fungicides market is driven by the need to enhance crop productivity, combat fungal infections, and promote sustainable agriculture. The market is supported by advancements in technology, growing awareness among farmers, and the adoption of integrated pest management practices. The market is driven by several factors, including the increasing demand for food due to population growth, the rising need to protect crops from fungal infections, and the growing awareness among farmers about the benefits of using fungicides.

One of the key drivers of the global fungicides market is the need to enhance crop productivity. With the global population steadily increasing, there is growing pressure to produce more food. Fungal diseases can significantly reduce crop yields, making fungicides an essential tool for farmers to protect their crops and maximize production. Moreover, the rising prevalence of fungal infections in crops is another factor propelling the market growth. Fungal diseases can cause significant economic losses for farmers, as they result in reduced yields and poor crop quality. Fungicides offer an effective solution to control and prevent these diseases, making them an indispensable part of modern agriculture. The increasing adoption of integrated pest management (IPM) practices is also driving the demand for fungicides. IPM focuses on using a combination of different pest control strategies, including the judicious use of pesticides. Fungicides play a vital role in IPM programs by targeting specific fungal pathogens, thereby reducing the overall reliance on broad-spectrum pesticides.

The global fungicides market is witnessing technological advancements, leading to the development of more effective and environmentally friendly fungicide products. Manufacturers are investing in research and development activities to introduce innovative fungicides with improved efficacy, reduced toxicity, and shorter residual periods. These advancements not only enhance the performance of fungicides but also address concerns related to environmental impact and human health.

Market snapshot - 2024-2031

Global Market Size

USD 19.20 billion

Largest Segment

Synthetic Fungicides

Fastest Growth

Biofungicides

Growth Rate

4.9% CAGR

Global Fungicides Market ($ Bn)
Country Share for North America Region (%)
Global Fungicides Market By Type ($ Bn)
Global Fungicides Market By Type (%)

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Global Fungicides Market Segmental Analysis

Global Fungicides Market is segmented by type, crop, and region. Based on type, the market can be segmented into synthetic fungicides and biofungicides. Based on crop, the market is segmented into cereals and grains, and cereals and grains. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Fungicides Market Analysis by Type

By type, the market can be segmented into synthetic fungicides, and biofungicides. Synthetic fungicides have traditionally dominated the fungicides market due to their broad-spectrum effectiveness and reliable control of fungal diseases. These chemically synthesized fungicides offer a wide range of options for farmers to combat various fungal pathogens affecting different crops. Their established presence in the market and proven efficacy contribute to their dominating position.

Biofungicides represent the fastest-growing segment. Growing awareness about the negative impacts of chemical pesticides on human health and the environment is driving the demand for biofungicides. Governments, regulatory bodies, and consumers are increasingly emphasizing sustainable agricultural practices, creating a conducive environment for the growth of biofungicides. Research and development efforts in this segment aim to improve the efficacy, stability, and compatibility of biofungicides, further boosting their market growth.

Fungicides Market Analysis by Crop

By crop, the market can be segmented into cereals and grains, and cereals and grains. Cereals and grains, including crops like wheat, rice, corn, and barley, constitute a significant portion of the fungicides market. Fungal diseases such as rusts, smuts, and blights pose a constant threat to cereal and grain crops, leading to a substantial demand for fungicides. The large-scale production of cereals and grains worldwide, coupled with their vital role in food security, contributes to the dominance of this segment.

The fruits and vegetables segment is witnessing robust growth due to several factors. Firstly, changing dietary patterns and increased consumer awareness about the importance of fresh produce have led to a surge in fruit and vegetable consumption globally. This heightened demand, coupled with the growing emphasis on food safety and quality, drives the need for effective disease management through fungicides. Moreover, the rise in protected cultivation and greenhouse farming practices, which are more prone to fungal infections, fuels the demand for fungicides in this segment.

Global Fungicides Market By Type (%), 2023 (%)

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Global Fungicides Market Regional Insights

North America dominated the global fungicides market. The region has a well-established agricultural sector and advanced farming practices, which contribute to the high demand for fungicides. The United States and Canada are the key players in this market, with a significant share of fungicide consumption. The United States holds a dominant position in North America, primarily due to its large agricultural industry and extensive crop cultivation. The country has a diverse range of crops, including corn, soybeans, wheat, and fruits, which require effective fungicide protection.

The Asia Pacific region is witnessing significant growth in the fungicides market and is projected to be the fastest-growing region in the coming years. The region has a vast agricultural landscape and is home to several agrarian economies, including India, China, Indonesia, and Thailand. India holds a dominant position in the APAC market, driven by its large population and extensive agricultural activities. The country has diverse agro-climatic conditions, which lead to a wide range of crop diseases. As a result, the demand for fungicides to protect crops from diseases such as blast, rust, and powdery mildew is high.

Global Fungicides Market By Region, 2024-2031
  • Largest
  • Fastest

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Global Fungicides Market Dynamics

Fungicides Market Drivers

Increasing demand for higher crop yields and reduced crop losses

  • One of the key drivers for the growth of the global fungicides market is the increasing demand for higher crop yields and reduced crop losses. With a growing global population, there is a need to enhance agricultural productivity to meet the rising food demand. Fungicides play a crucial role in protecting crops from diseases caused by fungi, ensuring healthier and higher-quality yields. This driver is pushing farmers and agricultural communities to adopt fungicides as an essential tool for crop protection and maximizing agricultural output.

Fungicides Market Restraints

Growing concern regarding the potential environmental and health impacts

  • One significant restraint for the global fungicides market is the growing concern regarding the potential environmental and health impacts associated with the use of chemical pesticides. There is an increasing focus on sustainable and eco-friendly agricultural practices, which has led to a shift towards organic farming and alternative pest management methods. This shift poses a challenge to the fungicides market as farmers seek alternatives that have minimal impact on the environment and human health. Strict regulations and restrictions on pesticide usage also limit the growth of the fungicides market.

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Global Fungicides Market Competitive Landscape

The global fungicides market is characterized by a diverse range of companies offering a variety of fungicide products. These companies focus on research and development activities to develop innovative and effective fungicides that cater to the specific needs of different crops and regions. They also emphasize strategic partnerships, collaborations, and acquisitions to expand their market presence and enhance their product portfolios. Additionally, there is a growing trend of sustainable and environmentally friendly fungicides, with companies investing in biofungicides and other organic alternatives to meet the evolving consumer demand for safer and more sustainable crop protection solutions.

Fungicides Market Top Player’s Company Profiles

  • BASF SE (Germany)
  • FMC Corporation (US)
  • Nufarm Limited (Australia)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • ADAMA Agricultural Solutions Ltd. (Israel)
  • UPL Limited (India)
  • Dow AgroSciences LLC (US)
  • Marrone Bio Innovations, Inc. (US)
  • Isagro S.p.A. (Italy)
  • Kumiai Chemical Industry Co., Ltd. (Japan)
  • Jiangsu Yangnong Chemical Co., Ltd. (China)
  • Nissan Chemical Corporation (Japan)
  • Arysta LifeScience Corporation (US)
  • Certis USA L.L.C. (US)
  • Valent BioSciences Corporation (US)
  • AMVAC Chemical Corporation (US)
  • Fungicides India Limited (India)

Fungicides Market Recent Developments

  • In March 2024, Biotalys and Novonesis forged a partnership including the production, global supply, and specific commercialization rights of Evoca Ng.

  • In March 2024, Lavie Bio Ltd., a prominent agricultural biologicals company specializing in microbiome-based biostimulants and biopesticides, and a subsidiary of Evogene Ltd., revealed the extension of its joint validation trials for biofungicides in collaboration with Bayer AG. This decision was made after the first year's successful laboratory and greenhouse testing.

  • In March 2024, Belchim Crop Protection USA and Sipcam Agro USA, Inc. unveiled a partnership allowing Belchim USA exclusive rights to market and distribute Minerva Fungicide. Minerva Fungicide is set to become a popular option in the market due to its exceptional effectiveness against powdery mildew, Ramularia, and Cercospora leaf spot (CLS) in sugar beets.

Global Fungicides Key Market Trends

  • Increasing Use of Bio-based Fungicides: the increasing demand for bio-based fungicides, primarily driven by stringent regulations concerning chemical usage in food production. European companies are particularly focused on ramping up the production of these eco-friendly alternatives. While synthetic fungicides have proven highly effective, their repeated application has raised concerns about environmental pollution, the development of resistance among pathogens, and residual toxicity. Consequently, there is a growing emphasis on research and development in the field of biofungicides, which offer a more environmentally friendly and safer solution. Key commercial biofungicides available in the market are effective against various pathogens, including Pythium, Rhizoctonia, Fusarium, Sclerotinia, Thielaviopsis, Botrytis, and powdery mildew. Furthermore, the Food and Agriculture Organization reports a continuous increase in arable land dedicated to cereals, pulses, fruits, and vegetables, creating opportunities for farmers to meet the rising domestic and international food demand. For instance, in 2020, Asia witnessed an expansion in arable land, with a total of 497,818.7 thousand hectares, exceeding the previous year's figure of 497,255.4 thousand hectares. Consequently, farmers are increasingly adopting fungicides to safeguard their crops against a range of fungal infestations.

Global Fungicides Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global fungicides market analysis, the market is experiencing significant growth due to the rising demand for higher crop yields and the need to minimize crop losses. North America dominated the market, led by the United States and Canada, owing to their well-developed agricultural sectors. The Asia Pacific region, particularly India and China, is the fastest-growing market, driven by a large population and extensive agricultural activities. However, the market faces restraints such as increasing concerns over the environmental and health impacts of chemical pesticides. To counter this, there is a growing trend towards sustainable practices and integrated pest management. Key players in the market are focused on research and development, strategic partnerships, and expanding their product portfolios to meet evolving consumer demands.

Report Metric Details
Market size value in 2023 USD 19.20 billion
Market size value in 2031 USD 29.53 billion
Growth Rate 4.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Synthetic Fungicides and Biofungicides
  • Crop
    • Cereals and Grains, and Fruits and Vegetables
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • BASF SE (Germany)
  • FMC Corporation (US)
  • Nufarm Limited (Australia)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • ADAMA Agricultural Solutions Ltd. (Israel)
  • UPL Limited (India)
  • Dow AgroSciences LLC (US)
  • Marrone Bio Innovations, Inc. (US)
  • Isagro S.p.A. (Italy)
  • Kumiai Chemical Industry Co., Ltd. (Japan)
  • Jiangsu Yangnong Chemical Co., Ltd. (China)
  • Nissan Chemical Corporation (Japan)
  • Arysta LifeScience Corporation (US)
  • Certis USA L.L.C. (US)
  • Valent BioSciences Corporation (US)
  • AMVAC Chemical Corporation (US)
  • Fungicides India Limited (India)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Fungicides Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Fungicides Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Fungicides Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fungicides Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fungicides Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Fungicides Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Fungicides Market size was valued at USD 19.20 billion in 2022 and is poised to grow from USD 20.14 billion in 2023 to USD 29.53 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

The global fungicides market is characterized by a diverse range of companies offering a variety of fungicide products. These companies focus on research and development activities to develop innovative and effective fungicides that cater to the specific needs of different crops and regions. They also emphasize strategic partnerships, collaborations, and acquisitions to expand their market presence and enhance their product portfolios. Additionally, there is a growing trend of sustainable and environmentally friendly fungicides, with companies investing in biofungicides and other organic alternatives to meet the evolving consumer demand for safer and more sustainable crop protection solutions. 'Syngenta (Switzerland)', 'Bayer CropScience (Germany)', 'BASF SE (Germany)', 'Corteva Agriscience (US)', 'FMC Corporation (US)', 'Nufarm Limited (Australia)', 'Sumitomo Chemical Co., Ltd. (Japan)', 'ADAMA Agricultural Solutions Ltd. (Israel)', 'UPL Limited (India)', 'Dow AgroSciences LLC (US)', 'Marrone Bio Innovations, Inc. (US)', 'Isagro S.p.A. (Italy)', 'Kumiai Chemical Industry Co., Ltd. (Japan)', 'Jiangsu Yangnong Chemical Co., Ltd. (China)', 'Nissan Chemical Corporation (Japan)', 'Arysta LifeScience Corporation (US)', 'Certis USA L.L.C. (US)', 'Valent BioSciences Corporation (US)', 'AMVAC Chemical Corporation (US)', 'Fungicides India Limited (India)'

One of the key drivers for the growth of the global fungicides market is the increasing demand for higher crop yields and reduced crop losses. With a growing global population, there is a need to enhance agricultural productivity to meet the rising food demand. Fungicides play a crucial role in protecting crops from diseases caused by fungi, ensuring healthier and higher-quality yields. This driver is pushing farmers and agricultural communities to adopt fungicides as an essential tool for crop protection and maximizing agricultural output.

Increasing Use of Bio-based Fungicides: the increasing demand for bio-based fungicides, primarily driven by stringent regulations concerning chemical usage in food production. European companies are particularly focused on ramping up the production of these eco-friendly alternatives. While synthetic fungicides have proven highly effective, their repeated application has raised concerns about environmental pollution, the development of resistance among pathogens, and residual toxicity. Consequently, there is a growing emphasis on research and development in the field of biofungicides, which offer a more environmentally friendly and safer solution. Key commercial biofungicides available in the market are effective against various pathogens, including Pythium, Rhizoctonia, Fusarium, Sclerotinia, Thielaviopsis, Botrytis, and powdery mildew. Furthermore, the Food and Agriculture Organization reports a continuous increase in arable land dedicated to cereals, pulses, fruits, and vegetables, creating opportunities for farmers to meet the rising domestic and international food demand. For instance, in 2020, Asia witnessed an expansion in arable land, with a total of 497,818.7 thousand hectares, exceeding the previous year's figure of 497,255.4 thousand hectares. Consequently, farmers are increasingly adopting fungicides to safeguard their crops against a range of fungal infestations.

North America dominated the global fungicides market. The region has a well-established agricultural sector and advanced farming practices, which contribute to the high demand for fungicides. The United States and Canada are the key players in this market, with a significant share of fungicide consumption. The United States holds a dominant position in North America, primarily due to its large agricultural industry and extensive crop cultivation. The country has a diverse range of crops, including corn, soybeans, wheat, and fruits, which require effective fungicide protection.

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