According to Stratistics MRC, the Global Fungicides Market is accounted for $15.27 billion in 2017 and is expected to reach $25.36 billion by 2026 growing at a CAGR of 5.8% from 2017 to 2026.
Factors driving the market include diminishing arable land, growing population and the prerequisite of improving crop yields. Rising demand for crops and seed is anticipated to boost the market. Moreover, regulatory authorities such as Environment Protection Agency (EPA) often come up with stringent laws related to curbing pesticide usage for alleviating environmental damage and rising consumer awareness about pesticide consumption. On the flipside, strict governmental regulations on the pesticides manufacturing are expected to hamper the global market.
Fungicides are used as a key component of several disease management programs across the globe. On the basis of type, Biological fungacides are used to minimize disease by different mechanisms, including competition, antagonism, antibiosis, enhanced nutrient uptake or by inducing host resistance. They can also have different modes of action, but most function in a manner similar to chemical fungicides and have direct effects on the pathogen. Most prevent spore germination, but some retard spore production and growth. Some products may also induce resistance in the plant and may provide protection to other plant parts.
On considering geography regions, Asia Pacific is expected to be a bench topper among all other regions throughout the forecasting period due to the increasing demand of fungicides across the countries like India and Japan.
Some of the Key players for fungicides market are Bayer Crop Science Ag, Basf Corporation, E.I. Dupont De Nemours And Company, The Dow Chemical Company, Adama Agricultural Solutions Ltd., Arysta Lifescience Corporation, Biostadt India Limited, Drexel Chemical Company, Fmc Corporation, Heranba Industries Ltd, Monsanto Company, Nufarm Limited, Sumitomo Chemical Co. Ltd., Syngenta, Upl Limited, Cheminova A/S, American Vanguard Corporation, Bioworks Inc., Lanxess AG and Marrone Bio Innovations Inc..
Crop Types Covered:
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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