The "Global Fungicides Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The fungicides market is evaluated at US$19.205 billion for the year 2019 growing at a CAGR of 4.16% reaching the market size of US$24.531 billion by the year 2025.
Fungicides are pesticides that have a primary function of protecting the plants from fungi and its spores. Fungicides prevent the growth of fungi on plants and it also protects the plants from other types of diseases. The prevention of diseases from plants comprises a lot of activities which is collectively known as integrated pest management. The market for fungicides is projected to show moderate growth over the course of the next five years. The market growth is primarily being driven by the fact that diseases are the most common occurrence on plants which further impacts the quantity and quality of the yield. Thus, the farmers stay inclined towards the adoption of fungicides as a part of pest management as managing diseases is considered one of the most integral parts of the crop production process. Fungicides can be used for serving several purposes which may be to increase crop productivity, control diseases as it may deteriorate the quality, and also improve the shelf life of harvested products.
There are a number of control practices that are used to manage plant diseases that include crop rotation, use of disease tolerant crop cultivators, sanitation, and fungicides among others. Fungicides in these control practices is often considered as one of the vital methods for disease protection as it prevents numerous diseases and is considered more effective than other cultural practices. Also, these have the ability to target specific enzymes, which is also a major factor amplifying its adoption globally. Furthermore, Increasing global demand for food owing to the growing global population base is the major driver of the growing agricultural activities at the global level which has led to an increase in the demand for crop protection chemicals as the requirements for high yield and reduction of crop losses is increasing.
Additionally, the growing cases of crop diseases across the globe are also fuelling the demand for fungicides. The growing global population and the steady reduction in the arable land is driving the agrochemical market. Simultaneously, the relative improvement in the farm income over the years along with the favorable agriculture policies is further supplementing the growth of the market. The market for fungicides is also being driven by the fact the multiple players in the market are implementing different strategies to gain a competitive edge over other players with an aim to capture a greater market share. Players are investing heavily in the form of facility expansions, R&D, partnerships, and agreements, thus all these factors are collectively contributing towards the positive market growth throughout the course of the next five years.
Key Developments in the market
September 2020, Dhanuka Agritech, one of India's largest agrochemical company announced the launch of its two new latest fungicide products, KIRARI primarily for the grapes segment for controlling downy mildew and NISSODIUM to be used in grapes for controlling powdery mildew.
August 2020, FMC Corporation, an American chemical manufacturing company based out of America announced the launch of its new Xyway 3D fungicide, which is one of its kind only at-plant fungicide which provides season-long and inside-out disease protection from planting to harvest.
July 2020 Syngenta AG, a Switzerland bases agrochemical company announced the launch of its three new fungicides products which are Ascernity, Posterity XT, and Posterity Forte that will offer prevention from various diseases such as dollar spot, spring dead spot, anthracnose, and a large patch on golf course turf.
May 2020, BASF SE, the largest chemical producer in the world based out of Germany announced the launch of its new innovation Melyra fungicide powered by Revysol specifically for its Chinese customers.
April 2020, Bayer AG, one of the largest pharmaceutical companies in the world announced its new product innovation i.e., Sonata, which is a biological fungicide that is based on Bacillus pumilis for wine and table grapes, also approved for use in organic farming.
March 2020, Corteva, Inc., one of the major American agricultural chemical manufacturing companies based out of the United States launched a new range of for their applications on cereals for the sale in France.
March 2020, Sumitomo Chemical Company Limited, a Japanese chemical company announced a new horticulture fungicide KANAME Flowable in Japan.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Fungicides Market Analysis, by Type
6. Fungicides Market Analysis, by Crop Type
6.2. Cereals & Grains
6.3. Fruits & Vegetables
6.4. Oilseeds & Pulses
7. Fungicides Market Analysis, by Form
8. Fungicides Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. BASF SE
10.2. Bayer AG
10.4. FMC Corporation
10.5. Syngenta AG
10.6. Sumitomo Chemical Co., Ltd.
10.7. Dhanuka Agritech
10.8. NIPPON SODA CO., LTD.
10.9. Nufarm Ltd.
10.11. Isagro SpA
10.12. UPL Limited
10.13. AMVAC Chemical Corporation
10.14. Nissan Chemical Corporation
10.15. ISHIHARA SANGYO KAISHA, LTD.
For more information about this report visit https://www.researchandmarkets.com/r/ora5xk
View source version on businesswire.com: https://www.businesswire.com/news/home/20201030005642/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900