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[303 Pages Report] The global fungicides market was valued at USD 20.8 billion in 2022. It is projected to reach USD 28.0 billion by 2027, recording a CAGR of 6.1% during the forecast period. According to the FAO, fungicide is a compound to kill fungus in a way more or less without selectivity. Most of the fungicides act at the beginning and the fungicide action is obtained after a prolonged interaction with the fungus. Fungicides are indispensable to global food security and their use is forecasted to increase. The fungicides market is witnessing high growth because of the increasing demand in developing countries, easy availability of crop protection products, the growing area under high-value cash crops such as fruits and vegetables, and the rise in demand for food products on account of the increasing population.
The global croplands and population are continuously increasing; therefore, it is necessary to take all measures to increase crop production and ensure food safety. The reduction in crop loss caused by pests and diseases is one of the key factors to ensure optimal crop production. According to CropLife India, food crops are damaged by more than 10,000 species of insects, 30,000 species of weeds, 100,000 diseases (caused by fungi, viruses, bacteria, and other microorganisms), and 1,000 species of nematodes globally. Hence, it is necessary to protect against crop loss through the application of fungicides. Fungicides can be used as a part of Integrated Pest Management (IPM) plan.
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It takes many years from the development of a novel active ingredient up to its release to the market. Though the R&D of novel active ingredients is getting more difficult compared to the earlier process, there are several agrochemical manufacturers that have launched novel fungicide products across the world. During 2017-2021, major fungicide manufacturers launched novel fungicide products, which further boosted the growth of the fungicides market.
Company Name
Product Name
Active Ingredient
Country of Launch/Registration
Syngenta AG
Bayer AG
BASF SE
ADAMA Agricultural Solutions Ltd.
Nippon Soda Co., Ltd.
Source: Company Website and Press Releases
From 2017 to 2021, the number of products launched by each company witnessed an increase in revenue share, especially in countries such as the US, Canada, Brazil, Japan, and the UK.
Farmers are witnessing an increase in concerns pertaining to the reduction of the maximum residue levels or MRLs. “Maximum residue level” is defined as the highest value of pesticide residue that is legally allowed in food or feed products. Legislations related to MRLs are monitored globally, and hence, farmers need to comply with them by investing in products that help them lower the residue levels. As a result, farmers have been opting for integrated pest management practices to control fungi infestation, as well as limit the excessive usage of fungicides.
The use of fungicides offers increased advantages to farmers from an eco-friendly perspective, as it limits the dependence on crop protection products to an extent and minimizes soil exposure to different chemical products and phytotoxicity. While using methods such as aerial spraying, nearly 4,000 sq. ft. of soil treatment and protective products are used due to spray drift. On the other hand, the usage of biological solutions reduces this level of exposure to nearly 24 sq. ft.
Therefore, the need to reduce the soil area that is exposed to crop protection products majorly helps reduce the risks of exceeding the prescribed maximum residue levels. The MRL is a key factor that is globally checked and hence, can be well managed through biologicals. It also helps in gaining a higher marketable price for the produce offered by growers in the domestic and export markets.
Crops and plantations utilize soil nutrients and reduce the nutritive value of soil over time. They also create an environment that is conducive to crop-specific pathogens. Hence, earlier, crop rotation was the only practice followed to remove pathogens from the soil and helps the soil replenish its nutrient content. However, the global demand for some crops and their high market value has translated to lower crop rotation practices.
Farmers focus on cultivating crops of high economic value to maximize their profits. As a result, the nutrition content of the soil is reduced, while the pathogenic flora thrives in such conditions. For instance, in Eastern European countries, the practice of crop protection has become limited to earn more profits. This has resulted in decreased soil nutrients and increased soil-borne fungal diseases in the cultivation areas for crops like sunflowers in Russia and Ukraine. This has ultimately encouraged the demand for seed treatment products. These treatments provide seeds with the required nutritive and protective ingredients and minimize the impact of limited crop rotation practices.
To achieve profits, growers have limited their adoption of good agricultural practices, such as controlled fungicide application in dosage limits and crop rotation. For instance, Brazilian farmers have been combating the soybean rust problem since it was first discovered in Brazil during the 2000/01 sowing season. It took a significant number of years for researchers and farmers to develop successful strategies to limit the extent of damages from the disease. However, recently, farmers and researchers have observed an increase in resistance to these diseases and new variant. The increase in the usage of similar fungicides over the years has resulted in the rapid development of fungal resistance. This has posed various challenges to the growth of the market.
Although with the apparent simplicity of the formulation, soluble liquids are one of the significant commercial formulation types. Some active ingredients Difenoconazole, Fludioxonil, Pydiflumetofen and Hexaconazole are dominant in the fungicides as they being water based helps in starting a development programme with a new active if the properties of the active ingredients are suitable in terms of stability and solubility. Liquid fungicides help in achieving a high active content which is required in the commercial formulations as they aid with the spray drifting. Sometimes additives are added in the formulations such as surfactants and adjuvants to aid with leaf wetting and penetration.
Liquid formulations do not pose any health or mechanical problems as dusts so, their usage is now being adopted at a global level. While applying liquid based formulants the points to considered are: usage of appropriate formulation for a particular crop and the disease outbreak, the type of nozzle to be used, the water to formulant ratio is to be considered, the pH of the solution is to be checked before spraying, checking the weather conditions as rainy season is most suitable for liquid type for formulants and additions of adjuvants (penetrant or surfactant). Bonide Liquid Copper Fungicide provided by Planet natural (providing quality natural and organic products for the home, lawn and garden) controls a large variety of plant diseases including peach leaf curl, powdery mildew, black spot, rust, anthracnose, fire blight and bacterial leaf spot. Use on vegetables, roses, fruits and turf.
Variety of Active Ingredients: Fungicides contain different types of active ingredients that target different types of fungi, such as carbamates, benzimidazoles, triazoles, dithiocarbamates, and others.
Mode of Action: Fungicides can act as preventative, curative, or both, depending on the mode of action.
Formulations: Fungicides are available in various formulations, including liquids, granules, and powders, to suit different application methods.
Crop Segments: Fungicides are widely used in major crop segments, such as cereals, fruits and vegetables, oilseeds and pulses, and others.
Geographical Availability: The availability of fungicides varies from region to region, with some regions having a higher demand for fungicides due to the favorable growing conditions for fungi.
Cost: The cost of fungicides is influenced by factors such as the type of active ingredient, formulation, and brand.
Contact fungicides, also known as protectants, adhere to plant surfaces rather than being absorbed by the plant tissue. They act as a barrier to stop the fungus from penetrating and harming plant tissues. But if the infection is established contact fungicide can only be used as a protectant. On the basis of its chemical composition the contact fungicide can be classified into copper fungicide, sulphur fungicide, heterocyclic nitrogenous compounds, mercury fungicide, benzene compound and quinone fungicide. The major diseases managed by these fungicides are downy mildew, rust, tikka leaf spot, citrus canker, stem bleeding, bud rot, pink disease, sigatoka leaf spot, anthracnose, and onion smut.
The advantages of using contact fungicides include lower residual effect, less harmful to humans as they do not penetrate through the surface of the crops, the cost of contact fungicide is comparatively low, it has a multi side mode of action and showcase lesser problems with resistance. Contact fungicides are applied in various forms such as seed treatment, foliage application, wound dressing, soil drenching, broadcasting, furrow application, fumigation, and fruit protectant. Contact fungicides typically inhibits spore germination and stop infections.
Southeast Asia is a sub-region of Asia that includes the areas south of China, east of India, and north-west of Australia. With the equator running through much of Indonesia, the region is the only part of Asia that is partially in the Southern Hemisphere. The Pacific Ocean is to the north-east, and the Indian Ocean is to the south-west. Brunei, Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam are the 11 countries that make up Southeast Asia. From the standpoint of agriculture only seven of these countries significantly contribute to global crop production. These seven countries are quite diverse in terms of agricultural practises.
For instance, in Malaysia, plantation crops such as oil palm and rubber predominate; in Indonesia, corn and rice are important alongside plantation crops. Rice is predominant in other markets, particularly Cambodia, the Philippines, Vietnam, and Thailand. Myanmar is unique in that, while rice is the most important crop, fruit and vegetable crops, particularly legume crops such as beans and peas, as well as various nuts, are also important.
The crops grown in Asian countries are rice, wheat, millet, pulses, cotton, sugarcane, tea, oilseeds and rubber in India, China, Pakistan, Indonesia, Malaysia, Iraq, Russia, Bangladesh and Myanmar. Sugarcane, yam, taro, Noni, cava, coconut, cassava, bananas and betel nuts in Pacific countries. Rapid urbanization, on the other hand, leads to the degradation of the farming land and paves the way for alternatives to increase farm productivity by adopting sustainable solutions.
Key countries constantly investing in sustainable technology in the Asia Pacific region include India, China, Japan, and Australia. A few emerging economies, mostly from East and Southeast Asia, are also growing in agricultural trade. Loss in crop production due to pathogen attacks can heavily impact the GDP of developing countries. Mainly, cultivators of fruits and vegetables are adopting fungicides in Asia Pacific, as such crops are produced in tropical and sub-tropical climates in abundance for domestic and export purposes. Therefore, Asia Pacific is projected to grow at a rapid pace in the fungicides market.
The key players in this market include BASF SE(Germany), Syngenta AG (Switzerland), Corteva Agriscience (USA), UPL Ltd. (India) and FMC Corporation (US).
Report Metric
Details
Market Size Value in 2022
USD 20.8 billion
Market Size Value in 2027
USD 28.0 billion
Market Growth Rate
CAGR of 6.1%
Market size estimation
2022–2027
Base year considered
2021
Forecast period considered
2022–2027
Units considered
Value (USD Million/Billion)
Segments covered
By types, mode of application, mode of action, form, crop types, and regions.
Regions covered
North America, Asia Pacific, South America, Europe, and RoW
Market Growth Drivers
Growing launches of novel fungicide products to drive the fungicides market
Market Opportunities
Need for soil replenishment caused by limited crop rotation practices due to rise in harvesting GM crops
Largest Growing Region
Asia Pacific
Companies studied
This research report categorizes the fungicides market, based on type, formulation, crop type, mode of application, nematode type, and region
Which region is projected to account for the largest share in the global fungicide market?
Asia Pacific dominated the fungicides market during the forecasted period.
What is the current size of the global fungicide market?
The global fungicides market will be valued at USD 20.8 Billion in 2022. It is projected to reach USD 28.0 Billion by 2027, recording a CAGR of 6.1% during the forecast period.
Which are the key players in the market, and how intense is the competition?
Key players in this market include BASF SE (Germany), Isagro S.P.A (Italy), Corteva Agriscience (US), Syngenta AG (Switzerland), Bayer AG (Germany), UPL (India), Nufarm (Australia), FMC Corporation (US), ADAMA (Israel), and Marrone Bio innovations (US). Since the fungicide market is fast-growing, the existing players are fixated on improving their market shares, while startups are being established rapidly. The fungicide market can be classified as a fragmented market as it has a large number of organized players, accounting for a major part of the market share, present at the global level, and unorganized players present at the local level in several countries.
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