Global Fungicides Market Worth $19.5 Billion by 2027 - Breakdown by Active Ingredient, Crop Type and Region - ResearchAndMarkets.com

The "Fungicides Market by Active Ingredient and Crop Type: Global Opportunity Analysis and Industry Forecast, 2019-2027" report has been added to ResearchAndMarkets.com's offering.

According to the report, the global fungicides market was valued at $13.4 billion in 2019, and is projected to reach $19.5 billion by 2027, growing at a CAGR of 6.2% from 2019 to 2027.

The global fungicides market is primarily driven by increase in global population, which demand for more agricultural production, increasing plant diseases, limited agricultural land, and adoption of modern farming. However, the adverse effects of fungicides on human health and environment hinder the fungicides market growth. Furthermore, adoption of organic farming and introduction of genetically modified crops are expected to hinder the growth of the market. The competitive structure of the market is analyzed using the Porter's five forces model.

According to Porter's analysis, the bargaining power of buyers is moderate in this market due to the presence of small-scale buyers, large-scale manufacturing companies, substitute suppliers, and easy backward integration. However, the bargaining power of suppliers is low in the market due to low switching cost of buyers and challenging forward integration. Need for strong R&D activities and presence of strong players in the fungicides market have created hindrances for new entrants. The threat of substitute products is low due to the delayed effects and high price of bio-fungicides. Competition among the business rivals is high due to the presence of small, medium, and large industries.

Global fungicides market by type is segmented into dithiocarbamate, benzamidazole, chloronitroniles, triazoles, phenylamides, strobilurins, and others. Triazoles are widely used owing to its site-specific mode of action and effectiveness against a broad range of fungal diseases. The global market for triazoles is valued at $2.4 billion in 2019 and it is expected to garner $3.4 billion by 2027, registering a CAGR of 4.5% during the analysis period. Strobilurins fungicide is derived from the naturally occurring basidiomycete Strobilurustanacellus. These fungicides are less harmful to environment as well as humans. The global market for strobilurins fungicides was valued at $2.4 billion in 2019 and expected to generate $3.3 billion by 2027, at a CAGR of 4.2% from 2020 to 2027.

The fungicides market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). Europe dominates the market for fungicides owing to their extensive use in agriculture. In Europe, wheat is cultivated on a large scale and it is one of the major agro-economic sectors in Europe. In addition, fungicides are also used in vineyards and fruits & vegetables farms. The fungicides market in Europe had generated revenue of $5.7 billion in 2019 and expected to garner $8.2 billion by 2027, registering a CAGR of 4.6% during the forecast period. North America is the second largest revenue contributor to the global fungicides market and is expected to grow at a CAGR of 4.7% during the estimated period.

In 2019, Syngenta Canada launched Miravis, a new fungicide umbrella brand that will offer five new products to fight disease in a range of crops such as corn, wheat, pulses, fruiting vegetables, and leafy vegetables including small fruit and vine crops. The new fungicides enhanced the Canadian farmers' yield and helped Syngenta to increase its regional revenue from Canada.

The fungicides market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the global fungicides market include Adama Ltd., BASF SE, Bayer AG, FMC Corporation, Corteva Inc., Novo Nordisk AG, Nufarm Ltd., Sumitomo Chemical Company, Syngenta AG, and Tata Chemicals Ltd. Other players in the value chain of the market include Bioworks, Inc., STK Bio-Ag Technologies, Verdesian Life Sciences, Seipasa, S.A., Ishihara Sangyo Kaisha, Ltd., Nutrichem, and others.

Key Findings

• The fungicides market is analyzed from 2019 to 2027
• By active ingredient, the phenylamides segment is projected to grow at the highest CAGR of nearly 5.8% during the forecast period
• On the basis of region, Asia-Pacific is expected to grow at the highest CAGR of nearly 5.2%, during the analysis period
• By crop type, the cereals & grains segment is anticipated to grow at highest growth rate of 4.9% during the forecast period
• Europe dominated the market with a share of over 32.3% in 2019

Key Topics Covered

Chapter 1: Introduction

1.1. Report Description

1.2. Key Benefits for Stakeholders

1.3. Key Market Segments

1.4. Research Methodology

1.5. Analyst Tools and Models

Chapter 2: Executive Summary

2.1. Key Findings of the Study

2.2. CXO Perspective

Chapter 3: Market Overview

3.1. Market Definition and Scope

3.2. Key Findings

3.2.1. Top Investment Pockets

3.3. Porter's Five Forces Analysis

3.4. Market Dynamics

3.4.1. Drivers

3.4.1.1. Increase in Plant Diseases

3.4.1.2. Limited Arable Land

3.4.1.3. Adoption of Modern Farming

3.4.2. Restraints

3.4.2.1. Inappropriate Use of Fungicides

3.4.2.2. Adoption of Organic Farming

3.4.3. Opportunity

3.4.3.1. Acceptance of Bio-Fungicide

3.5. Value Chain Analysis

3.6. Impact of Government Rules and Regulations

3.6.1. Fifra (Federal Insecticide, Fungicide and Rodenticide Act)

3.6.2. Pria (Pesticide Registration Improvement Act)

3.6.3. Frag (Fungicide Resistance Action Group) - UK

Chapter 4: Fungicides Market, by Active Ingredient

4.1. Overview

4.2. Dithiocarbamates

4.3. Benzimidazoles

4.4. Chloronitriles

4.5. Triazoles

4.6. Phenylamides

4.7. Strobilurins

4.8. Others

Chapter 5: Fungicides Market, by Crop Type

5.1. Overview

5.2. Cereals & Grains

5.3. Oilseeds & Pulses

5.4. Fruits & Vegetables

5.5. Others

Chapter 6: Fungicides Market, by Region

6.1. Overview

6.2. North America

6.3. Europe

6.4. Asia-Pacific

6.5. LAMEA

Chapter 7: Competitive Landscape

7.1. Introduction

7.2. Top Winning Strategies

7.3. Product Mapping of Top 10 Players

7.4. Competitive Heatmap

7.5. Key Developments

Chapter 8: Company Profiles

8.1. Adama Ltd.

8.2. BASF SE

8.3. Bayer AG

8.4. FMC Corporation

8.5. Corteva Inc.

8.6. Novo Nordisk A/S

8.7. Nufarm Limited

8.8. Sumitomo Chemical Company

8.9. Syngenta AG

8.10. Tata Chemicals Ltd.

8.11. Other Key Players

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