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LONDON , GREATER LONDON , UK, September 2, 2024 /EINPresswire.com/ --
The fungicides market has experienced robust growth in recent years, expanding from $22.83 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to crop protection, crop expansion, climate conditions, pesticide resistance management.
Strong Future Growth Anticipated
The fungicides market is projected to continue its strong growth, reaching $33.27 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to global population growth, climate change impact, integrated pest management (ipm), biofungicides and biotechnology.
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Growth Driver Of The Fungicides Market
The rise in plant disease is expected to propel the growth of the fungicide market going forward. Plant diseases are health disorders that affect the normal functioning, growth, and development of plants. Fungicides are beneficial for controlling and avoiding diseases of plants brought on by fungi in several ways, including disease prevention, seed treatment, post-harvest protection, and increased agricultural productivity.
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Major Players And Market Trends
Key players in the fungicides market include American Vanguard Corporation, BASF SE, Bayer AG, Bioworks Inc., Dow AgroSciences LLC, DuPont de Nemours Inc., FMC Corporation, Marrone Bio Innovations Inc.
Major companies operating in the fungicides market are focusing on developing innovative products, such as the new generation of Potato Fungicide, to improve their position in their business. Potato fungicides are chemical substances or formulations specifically designed to control and prevent the growth of fungi that can affect potato plants.
Segments:
1) By Type: Synthetic Fungicides, Bio-fungicides
2) By Active Ingredient: Dithiocarbamates, Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Other Active Ingredients
3) By Treatment: Seed Treatment, Soil Treatment, Foliar Spray, Chemigation, Post-Harvest
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables, Other Applications
Geographical Insights: Asia-PacificLeading The Market
Asia-Pacific was the largest region in the fungicides market in 2023. South America was the second-largest region in the global fungicides market. The regions covered in the fungicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Fungicides Market Definition
Fungicides are pesticides that control fungal diseases by killing or inhibiting fungi or fungal spores. Fungi can cause serious damage to agriculture, resulting in critical losses in yield, quality, and profit. Tea tree oil, cinnamaldehyde, and Nimbin are examples of natural fungicides.
Fungicides Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fungicides Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on fungicides market size, fungicides market driversand trends, fungicides market major players, fungicides competitors' revenues, fungicides market positioning, and fungicides market growth across geographies. The fungicides market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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