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Fungicides Market to Register CAGR of 4.93% till 2028; Syngenta Unveils Fungicide Products as Mitrion and Alade Set to Boost Growth

January 12, 2022 | Agriculture

The global fungicides market size was USD 17.71 billion in 2020. The market is projected to grow from USD 18.43 billion in 2021 to USD 25.81 billion by 2028, exhibiting a CAGR of 4.93% during the forecast period (2021-2028).


This information is provided by Fortune Business Insights™, in its report, titled, “Fungicides Market Size, Share & COVID-19 Impact Analysis, By Type (Chemical and Biological), Crop Type (Cereals, Oilseeds & Pulses, Fruits & Vegetables, and Others), Application Method (Foliar, Chemigation, Seed Treatment, and Others), and Regional Forecast, 2021-2028.”


According to our expert researchers, an upsurge in mindfulness concerning the advantages of fruits & vegetables and the rising health apprehensions have led to the growing demand for fruits & vegetables in developed as well as the emerging nations. This in turn has raised the demand for fungicides.


Global Demand & Supply Interruption of Fungicide Products amid COVID-19 to Limit Growth


The arrival of COVID-19 pandemic has brought the production measures of several industries to a dead end. In spite of all the moderations in the lockdown plans, specific principles, such as social distancing and deterioration of workforce were mandatory to implement.


The commotion activated by the COVID-19 pandemic in the movement of crop protection products, either from local or global providers to the farm level, has at present led to deteriorated productions.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/fungicides-market-103267


BASF Presents Encartis, a New Dual-active Fungicide to Expand Growth Prospects


BASF has presented Encartis, which is a fungicide, is a powerful dual-active fairway solution that offers precautionary and beneficial activity against dollar spot and 10 additional vital foliar ailments.


Encartis fungicide is presented in a novel, effortless-to-utilize, pre-mix formulation, merging the forte of both boscalid as well as chlorothalonil, for sturdy precautionary protection and fast healing action. The dual-active solution offers long lasting defense for up to 28 days to assist preserve healthy, infection-free playing circumstances throughout the season.


Unveiling of New Products to Endorse Acceptance of Fungicides


The area under fruits & vegetables is rising with the alteration of the global food structure and the varying cropping pattern. This has further led to a surging demand for fungicide products encompassing novel active ingredients.


Additionally, owing to the growing disease resistance to strobilurin fungicides, the manufacturers present in the market are emphasizing on the formation of strobilurins in amalgamation with the other products. These factors are responsible for contributing to the fungicides market growth during the forecast period.


Procurements Instigated by Crucial Companies to Endorse Market Growth


The dominating players in the market continuously root for competent strategies to bolster their brand value as well as promote the global market growth of the product with encountering least possible obstacles. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.


Industry Development



  • March 2021: Syngenta presented two novel fungicide products such as Mitrion and Alade in the Brazilian market. This novel product unveiled has uses in soybean crop and comprises of active ingredients from pyrazole and triazole.


List of Key Players Covered in this Market Report



  • Bayer AG (Leverkusen, Germany)

  • BASF SE (Ludwigshafen, Germany)

  • Syngenta AG (Basel, Switzerland)

  • Corteva, Inc. (Delaware, U.S.)

  • FMC Corporation (Pennsylvania, U.S.)

  • Sumitomo Chemicals (Tokyo, Japan)

  • UPL Ltd. (Mumbai, India)

  • Nufarm (Melbourne, Australia)

  • ADAMA Agricultural Solutions Ltd. (Ashdod City, Israel)

  • Isagro SpA (Milan, Italy)


Further Report Findings-



  • Asia Pacific currently holds the largest market share and is predicted to retain its position throughout the forecast period. The growing agriculture industry, increasing rice cultivation, and the rising post-harvest losses are the major factors driving the market in this region.


Based on type, the global market is classified into:



  • Chemical

  • Biological


Chemical segment to emerge as a dominant segment owing to their high usage in developing nations.


Table of Segmentation















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



 2020



Estimated Year



  2021



Forecast Period



 2021-2028



Historical Period



 2017-2019



Unit



 Value (USD Billion)



Segmentation



By Type



  • Chemical

    • Triazoles

    • Dithiocarbamates

    • Strobilurins

    • Inorganics

    • Chloronitriles

    • Others



  • Biological



By Crop Type



  • Cereals

  • Oilseeds & Pulses

  • Fruits & Vegetables

  • Others



By Application Method



  • Foliar Treatment

  • Chemigation

  • Seed Treatment

  • Others



By Region



  • North America (By Type, By Crop Type, By Application Method, and By Country)

    • U.S. (By Type)

    • Canada (By Type)

    • Mexico (By Type)



  • Europe (By Type, By Crop Type, By Application Method, and By Country)

    • France (By Type)

    • Spain (By Type)

    • Italy (By Type)

    • Germany (By Type)

    • U.K. (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, By Crop Type, By Application Method, and By Country)

    • China (By Type)

    • India (By Type)

    • Japan (By Type)

    • Australia (By Type)

    • Indonesia (By Type)

    • Rest of Asia Pacific (By Type)



  • South America (By Type, By Crop Type, By Application Method, and By Country)

    • Argentina (By Type)

    • Brazil (By Type)

    • Colombia (By Type)

    • Rest of South America (By Type)



  • Middle East and Africa (By Type, By Crop Type, By Application Method, and by Country)

    • South Africa (By Type)

    • UAE (By Type)

    • Rest of ME&A (By Type)




Global Fungicides Market
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  • 2020
  • 2017-2019
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