Fungicides Market Companies, Consumption, Drivers, Trends, Analysis, Revenue, Challenges and Forecast 2027

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Feb 05, 2021 (The Expresswire) —
The globalfungicides marketis expected to gain impetus from the rising awareness about the benefits of consuming fruits and vegetables. The World Health Organization (WHO) declared that worldwide, approximately 1.7 million deaths occur because of the lack of consumption of fruits and vegetables.Fortune Business Insights™mentioned this information in a new report, titled, “Fungicides Market Size, Share and Industry Analysis, By Type (Chemical and Biological), Crop Type (Cereals, Oilseeds and Pulses, Fruits and Vegetables, and Others), Application Method (Foliar, Chemigation, Seed, and Others), and Regional Forecast, 2020 2027.” The report further states that market size wasUSD 18.29 billionin 2019 and is projected to reachUSD 26.50 billionby 2027, exhibiting a CAGR of 4.78% during the forecast period (2020-2027).

The emergence of COVID-19 pandemic has brought the production processes of various industries to a standstill. Even though there are relaxations in the lockdown measures, certain norms, such as social distancing and reduction of workforce are mandatory to adopt. However, we will soon be able to get back to our normal lives by cooperating with the regulatory bodies. Our reports would aid in finding the best strategy that you can currently follow to gain a competitive edge in the market.

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Competitive Landscape-

Key Players Focus on Launching New Products and Acquiring Other Companies to Surge Sales

The market houses more than 40,000 companies that are frequently engaging in research and development activities to unveil innovative fungicides. Some of them are also considering the mergers and acquisitions strategy to strengthen their position in the market.

Fortune Business Insights™ lists out the names of all the prominent manufacturers operating in the Fungicides Market. They are as follows:

  • BASF SE – Germany
  • Bayer AG. Germany
  • Corteva Inc. United States
  • Syngenta AG Switzerland
  • FMC Corporation United States
  • UPL Ltd. India
  • ADAMA Ltd. Isarel
  • Sumitomo Chemical Co., Ltd. Japan
  • Nufarm Limited Australia
  • Isagro SpA Italy

This Report Answers the Following Questions:

  • Which segment is expected to lead the market?
  • What are the challenges and opportunities in the market?
  • How will the companies generate more sales of fungicides in the near future?
  • What are the significant strategies adopted by key players?
  • What are the growth drivers, hindrances, and market dynamics?

Drivers and Restraints-

High Demand for Fungicides Equipped with Novel Active Ingredients to Boost Growth

The areas under the cultivation of fruits and vegetables is surging rapidly backed by the changes in the food structure worldwide. The persistent changes in cropping patterns are also propelling the demand for fungicides equipped with novel active ingredients. Syngenta, for instance, unveiled its latest fungicides consisting of pydiflumetofen. It is called MIRAVIS Duo. Several manufacturers are nowadays aiming to develop new products to cater to the needs of the masses.

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However, the present situation of COVID-19 is impacting many countries severely. It is anticipated to affect the price dynamics and availability of all crop protection chemicals. It has also created disruptions in the supply chain. This factor may hamper the fungicides market growth in the near future.


Chemicals Segment to Dominate Backed by Their Ability to Show Immediate Effects

In terms of type, the market is bifurcated into biological and chemical. Out of these, the chemical segment procured 88.42% fungicides market share in 2019 and is expected to dominate in the coming years. This growth is attributable to the ability of chemicals to prevent the growth of fungi and kill their spores. Chemical infused fungicides also exhibit immediate effect in controlling damages. They are capable of covering several hectares of land. Some of the most preferred chemicals are chloronitriles, strobilurins, inorganic, triazoles, and dithiocarbamates.

Regional Analysis-

Asia Pacific to Remain at the Forefront Owing to Growing Agriculture Industry

Based on geography, Asia Pacific generated USD 5.25 billion revenue in 2019 and is set to remain in the leading position throughout the forthcoming years. This is likely to occur because of the increasing post-harvest losses, rising rice cultivation, and the expansion of the agriculture industry in this region. Australia, India, and China are the major contributors to the growth of this market in this region. China is considered to be the leading consumer of fungicide, worldwide. Europe, on the other hand, is set to grow considerably stoked by the presence of numerous industry giants, such as Bayer, BASF, and Syngenta in this region.

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Below are two of the latest industry developments:

  • December 2019: FMC announced that its new Rayora fungicide received the Environmental Protection Age (EPA) registration. The new product would help in preventing and curing dollar spots.
  • February 2019: UPL completed the acquisition of Arysta LifeScience. The total deal was worth USD 4.2 billion. It would help the company to strengthen its position in the market of agricultural solutions.

Detailed Table of Content:

  • Introduction
  • Executive Summary
  • Market Dynamics
  • Key Insights

TOC Continued…!!!

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About Us:

Fortune Business Insights™offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
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Fortune Business Insights™

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