$17.58 Bn for Global Fungicides Market by 2022

Zion Market Research has published a new report titled “Fungicides Market (Chloronitriles, Dithiocarbamates, Triazoles, Strobilurins, Benzimidazoles, Mancozeb and Others) for Fruit & Vegetables, Oilseeds & Pulses, Cereals & Grains and Other Crops: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global fungicides market was valued at USD 13.12 billion in 2016 and is expected to reach USD 17.58 billion in 2022, growing at a CAGR of 5.0% between 2017 and 2022.

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Fungicides are the special kind of pesticides that are used for controlling the fungal diseases. It is primarily used for the crop protection. Additionally, fungicides are also used to maintain the yield and quality of the crops. Proper use of fungicides increases the production and storage life of harvested produce. Thus, the fungicides have extensive applications in agricultural, horticulture and floriculture sectors producing vegetables, fruits, oilseed, grains & cereals, flowers and other crops.

Based on the various types of fungicides, the global fungicides market is segmented into chloronitriles, dithiocarbamates, triazoles, strobilurins, benzimidazoles, mancozeb, and others. Among these, mancozeb was the leading segment in 2016 and it is also anticipated to be the fastest growing product segment of the market within the forecast period. This growth is attributed to the strong and rapid increase in demand for mancozeb, especially from China and India. Additionally, triazole was the second largest leading product segment of the global fungicides market in 2016. It accounted for more than 20% share of the total market. It is one of the active curative ingredients that are extensively used for each compound and it also has the ability to reduce production of pathogens that play a role in fungi sterol production. Thus, it is expected to witness the significant growth in the near future.

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Fruit & vegetables, oilseeds & pulses, cereals & grains are key crop types of the global fungicides market. Fruit & vegetables were the most attractive crop type segment of the global fungicides and accounted for more than 40% share of the entire market size in 2016. Moreover, it is also considered to be the fastest growing segment in the near future due to the immense demand for fruit & vegetables around the world. Cereals & grains was the second largest crop type segment of the market in the same year. Furthermore, oilseeds & pulses are considered as an important outlet that intends to show the noteworthy growth of the market within the forecast period.

Asia Pacific led the market for fungicides in 2016 and it held more than 27% share of the market in 2016. Moreover, this trend is expected to continue in the near future. China was the major consumer of the fungicide market in 2016 and it accounted for more than 70% share of Asia Pacific market. North America and Latin America are projected to witness the significant demand for fungicides over the next few years. In addition, Europe is a mature market of fungicides. Therefore, it is predicted to have sluggish growth over the future years. Middle East & Africa is expected to be the fastest growing market for fungicides over the coming years due to the high UN investments for the agriculture industry.

Some of the major manufacturers of the global fungicides market include BASF SE, Adama Agricultural Solutions Ltd., Monsanto, Cheminova A/S, Bayer AG, Nufarm Ltd., E. I. Du Pont de Numerous and Company, FMC Corporation, DOW Agroscience LLC and Syngenta AG among others.

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The report segments the global fungicides market into:

Fungicides Market: Type of Fungicide Analysis

  • Chloronitriles
  • Dithiocarbamates
  • Triazoles
  • Strobilurins
  • Benzimidazoles
  • Mancozeb
  • Others

Fungicides Market: Crop Type Analysis

  • Fruits & Vegetables
  • Oilseeds & Pulses
  • Cereals & Grains
  • Others

Fungicides Market: Regional Analysis

North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa

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