Fungicides Market Poised to Expand at a Robust Pace by 2027

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Fungicides Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Fungicides Market Key Highlights

• In terms of value, the global fungicides
  market is anticipated to expand at a CAGR of
  4 from 2019 to 2027.
• Fungicides are used to control disease attacks on
  crops from fungi. Fungicides play a vital role in
  increasing crop production by protecting the
  crops from fungal attack, primarily delicate food
  crops such as fruits and vegetables.
• In terms of product, the triazole segment
  accounted for a major share of the fungicides
  market in 2018, owing to its broad spectrum of
  applications on various crops.
• However, the mancozeb segment is expected to
  expand at a rapid pace during the forecast
  period, owing to its cost effectiveness and ease
  of availability.

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Cereal Growers Catalyze Demand for
High-technology Fungicides

• There is growing demand from cereal farmers for
  the innovation of tailored solutions that are
  overlooked by market players in the fungicides
  ecosystem.
• These challenges include limited natural
  resources, fluctuating yield of crops, and the
  risk of soil-borne diseases while catering to the
  growing world population with increasing demand
  for high-quality cereals.
• Since the fungicides market is anticipated to
  grow from US 15.3 Bn in 2018 to US 22.3
  Bn in 2027, market players are adopting strategic
  measures to facilitate cereal farmers with
  innovative fungicide offerings.

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High Adoption of Bio fungicides Gives Rise to
Multiple Modes of Action

• The fungicides market is moderately consolidated,
  thus allowing the entry of new players in the
  market.
• However, emerging market players need to innovate
  on offerings that are sustainable and reduce
  environmental load.
• Fungicides are used to protect crops from fungal
  diseases. However, certain species of fungi
  develop resistance to fungicides after prolonged
  usage.
• Certain synthetic fungicides can also kill the
  crops and plants if not handled skilfully, as
  they contain highly toxic elements such as
  phytotoxicity

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Global Fungicides Market Competition Landscape

• Sumitomo Chemical Co., Ltd.
• PI Industries
• FMC Corporation
• ADAMA Ltd.
• BASF SE
• UPL
• Corteva Agriscience

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