The global fungicides market size reached US$ 19.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 28.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.19% during 2024-2032. The rising product utilization in farming practices, the widespread product adoption in veterinary applications, and the increasing demand for bio-fungicides represent some of the key factors driving the market.
Market Size in 2023
|US$ 19.7 Billion
Market Forecast in 2032
|US$ 28.5 Billion
|Market Growth Rate 2024-2032
Fungicides, also known as antimycotics, are substances used to inhibit the growth of parasitic fungi and their spores. It includes several chemical and biological products, such as triazole, chloronitriles, morpholines, benzimidazoles, phenylamides, microbials, and biochemicals. They are produced from various organic and inorganic elements, such as carbon, oxygen, zinc, nitrogen, manganese, copper, cadmium, and sulfur. Fungicides are widely used in agriculture, floriculture, plantations, and horticulture to prevent fungal damage to plants and protect crops from diseases. They are highly beneficial substances that provide broad-spectrum protection against multiple species, prevent crop loss, reduce blemishes, and ensure appropriate conditions for healthy plant growth. Fungicides are also highly versatile as they can be applied to soil, seeds, and various parts of the plant to provide long-term protection.
Fungicides Market Trends:
The rising product utilization in farming practices is one of the primary factors driving the market growth. Fungicides are widely used in the farming of fruits, vegetables, oilseeds, pulses, cereals, and grains to prevent crop damage from various fungi, such as mold, blights, mildews, smuts, and rusts. In addition to this, the increasing product utilization to protect the crop from various fungal diseases, such as leaf spot, stripe, rice blast, black pod, macrosporiasis, Sigatoka, apple scab, and berry disease, is acting as another growth-inducing factor. Furthermore, the widespread product adoption in veterinary applications to treat summer itch, girth itch, ringworm, and other fungal infections in domestic animals, such as cattle, horses, sheep, goats, dogs, and cats, is providing an impetus to the market growth. Apart from this, the increasing demand for bio-fungicides that are eco-friendly and decomposable and increase nutrient uptake, promote root development and enhance drought resistance in plants is favoring the market growth. Additionally, the recent development of next-generation fungicides that are sustainable, target-specific, and highly efficient at low doses, is positively influencing the market growth. Moreover, the implementation of various government initiatives to spread awareness about the benefits of fungicides and provide additional information regarding their usage per crop type and the time interval between consecutive dosages to ensure safe farming is propelling the market growth. Other factors, including the rising adoption of organic farming, increasing investment in research and development (R&D) of novel products, and the widespread adoption of effective pest management practices among farmers, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global fungicides market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, form, crop type, mode of action, and application.
The report has provided a detailed breakup and analysis of the fungicides market based on the type. This includes chemical (triazoles, strobilurins, dithiocarbamates, chloronitriles, phenylamides, and others) and biological (microbials, microchemical, and macrobials). According to the report, chemical represented the largest segment.
- Suspension Concentrates (SC)
- Emulsifiable Concentrates (EC)
- Soluble Liquid Flowables (SLC)
- Water Dispersible Granules (WDG)
- Wettable Powder (WP)
A detailed breakup and analysis of the fungicides market based on the form has also been provided in the report. This includes liquid (suspension concentrates (SC), emulsifiable concentrates (EC), and soluble liquid flowables (SLC)) and dry (water dispersible granules (WDG) and wettable powder (WP)). According to the report, liquid accounted for the largest market share.
Crop Type Insights:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
A detailed breakup and analysis of the fungicides market based on the crop type has also been provided in the report. This includes cereals and grains (corn, wheat, rice, and others), oilseeds and pulses (soybean, cotton, and others), fruits and vegetables (apple, pears, cucumber, potatoes, grapes, and others), and others. According to the report, cereals and grains accounted for the largest market share.
Mode of Action Insights:
A detailed breakup and analysis of the fungicides market based on the mode of action has also been provided in the report. This includes contact and systemic. According to the report, contact accounted for the largest market share.
- Seed Treatment
- Soil Treatment
- Foliar Spray
A detailed breakup and analysis of the fungicides market based on the application has also been provided in the report. This includes seed treatment, soil treatment, foliar spray, chemigation, and post-harvest. According to the report, seed treatment accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for fungicides. Some of the factors driving the Asia Pacific fungicides market included the rising product utilization in farming practices, the implementation of various government initiatives, and various product innovations.
The report has also provided a comprehensive analysis of the competitive landscape in the global fungicides market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include American Vanguard Corporation, Atticus, LLC, BASF SE, Bayer AG, Botano Health, Corteva Inc., FMC corporation, Isagro SpA (Gowan Company LLC), Marrone Bio Innovations Inc, Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta AG, Terramera Inc, UPL Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Crop Type
- Mode of Action
- Chemical: Triazoles, Strobilurins, Dithiocarbamates, Chloronitriles, Phenylamides, Others
- Biological: Microbials, Microchemical, Macrobials
- Liquid: Suspension Concentrates (SC), Emulsifiable Concentrates (EC), Soluble Liquid Flowables (SLC)
- Dry: Water Dispersible Granules (WDG), Wettable Powder (WP)
|Crop Types Covered
- Cereals and Grains: Corn, Wheat, Rice, Others
- Oilseeds and Pulses: Soybean, Cotton Others
- Fruits and Vegetables: Apples, Peers, Cucumber Potatoes, Grapes, Others
|Mode of Actions Covered
||Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||American Vanguard Corporation, Atticus, LLC, BASF SE, Bayer AG, Botano Health, Corteva Inc., FMC corporation, Isagro SpA (Gowan Company LLC), Marrone Bio Innovations Inc, Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta AG, Terramera Inc, UPL Limited, etc.
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Key Questions Answered in This Report:
- How has the global fungicides market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global fungicides market?
- What is the impact of each driver, restraint, and opportunity on the global fungicides market?
- What are the key regional markets?
- Which countries represent the most attractive fungicides market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the fungicides market?
- What is the breakup of the market based on the form?
- Which is the most attractive form in the fungicides market?
- What is the breakup of the market based on crop type?
- Which is the most attractive crop type in the fungicides market?
- What is the breakup of the market based on the mode of action?
- Which is the most attractive mode of action in the fungicides market?
- What is the breakup of the market based on application?
- Which is the most attractive application in the fungicides market?
- What is the competitive structure of the global fungicides market?
- Who are the key players/companies in the global fungicides market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the fungicides market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global fungicides market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the fungicides industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.