Global Fungicide Market Size Worth $37.10 Billion By 2032 | CAGR: 6.3%

Fungicide Market Size Worth $37.10 Billion By 2032 | CAGR: 6.3%

The global fungicide market size is expected to reach USD 37.10 billion by 2032, according to a new study by Polaris Market Research. The report “Fungicide Market Share, Size, Trends, Industry Analysis Report, By Product (Inorganics, Benzimidazoles, Biofungicides, Triazoles & Diazoles, Dithiocarbamates, and Others); By Form; By Crop Type; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The extensive rise in the global population base and high demand for food production with the help of fungicides as it reduces or inhibit the growth of fungi and many other bacteria on crops and increases crop yields are significant factors driving the growth and demand of the global market. In addition, increased consumer awareness towards poultry farming practices and a surge in the number of new fungicide product launches by key market companies and current climate change scenarios across the globe are further likely to fuel the market's growth over the coming years.

For instance, in July 2022, Rallis India introduced new products, CAPSTONE & ZAAFU, for neck blast & sheath blight. CAPSTONE has a dual mode of action as it combines two different action fungicides and brings features like enormous efficacy, more extended disease control, & no-cross resistance. Also, ZAAFU provides effective treatment for sheath rods in paddy & sheath blight.

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Various changes in agricultural methods and higher technological innovations have encouraged farmers to engage in effective and improved pest management, which could be used effectively to kill fungus spores & enhance crop quality. Additionally, fungicides are also used to tackle postharvest diseases, which cause a quick and widespread breakdown of high moisture commodities compared to others, and are likely to contribute significantly to the market growth throughout the anticipated period.

Fungicide Market Report Highlights

  • Biofungicides segment is projected to grow at the fastest rate over the study period owing to high usage in seed treatment and adoption as a preservative in media growth
  • Liquid form segment accounted for the largest market share, in 2022, on account of increased consumption among various food product growers worldwide
  • Cereals & grains segment held the largest market revenue share in 2022, which is mainly accelerated by a rise in the need for stable food items like rice and wheat in countries like China and India
  • Asia Pacific is expected to grow at the fastest rate due to the rising consumer spending power and rapid surge in the post-harvest damages in developing countries of the APAC region
  • The global key market players include Syngenta, Adama Agricultural Solutions, Sumitomo Chemical, Bayer AG, Nutrichem, Agrochemical Company, and DuPont

Polaris Market Research has segmented the fungicide market report based on product, form, crop type, and region:

Fungicide, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • Inorganics
  • Biofungicides
  • Benzimidazoles
  • Triazoles & Diazoles
  • Dithiocarbamates
  • Others

Fungicide, Form Outlook (Revenue - USD Billion, 2019 - 2032)

  • Liquid
  • Dry

Fungicide, Crop Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Cereals & grains
  • Oilseeds & pulses
  • Fruits & vegetables
  • Others

Fungicide, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa