Fungicides Market: Exploring Opportunities in Biofungicides and Novel Formulations (2023-2029)
Fungicides Market Flourishes, Expected to Reach US$ 24.90 Billion by 2029
Crop protection against fungal diseases is driving the Fungicides Market, valued at US$ 18.54 billion in 2022 and forecasted to reach US$ 24.90 billion by 2029, with a steady CAGR of 4.3%. Fungicides play a crucial role in controlling fungi that cause crop damage, with a focus on diseases like Fusarium and Verticillium wilt.
Driving Forces and Dynamics:
The fungicide market is propelled by the global population's growth, escalating food demand, and the need for increased crop yields. Fungicides, essential in fruit, vegetable, and rice production, aid in suppressing fungi and bacteria, boosting crop health. Climate change concerns and rising crop diseases also contribute to the market's expansion.
Fungicide Market Report Scope and Research Methodology:
The growth of different segments in the Fungicide market helps identify key growth factors and develop strategies to target core application areas and fill gaps in the target market.
The report provides an in-depth analysis of the Fungicide market, offering meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies. A bottom-up approach was employed to estimate the Fungicide market size.
Key players in the Fungicide industry were identified through secondary research, and their market revenues were determined through primary and secondary research. The report also covers mergers and acquisitions, strategic alliances, joint ventures, and partnerships in the Fungicide market by region, by investment, and their strategic intent.
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Fungicide Market Regional Insights:
The global Fungicide market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The report provides regional analysis with the Fungicide market size for each region.
The country-level analysis examines various market factors expected to influence current and future Fungicide market trends, along with changes in market regulations at the country level. Key factors used to forecast the Fungicide market situation in each country include consumption, production location and volume, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis.
Fungicide Market Segmentation:
The Inorganics segment held the largest market share in 2021 based on product type. This can be attributed to features such as pet friendliness, low cost, easy application, and fast acting fertiliser. The precise nutrient content of inorganic fertilisers is guaranteed by law, which is an additional benefit. External or inorganic growth necessitated acquisitions, joint ventures, mergers, and franchising. Improved inorganics segment growth can be achieved by taking advantage of inorganic growth, which offers a quick route into new markets and product categories.
Cereals & Grains held the largest market share in 2021 based on application.More protein is found in cereals and grains than in meat, fish, or eggs. For more than half of the world's population, these foods are an essential source of protein. The population growth and rising demand for food supplies are the primary causes of the segment's increase. The increased need for crop protection chemicals is contributing to a rise in the market for novel fungicides.
Fungicide Market Key Players:
1.BASF SE
2.Bayer AG.
3.Corteva Inc.
4.Syngenta AG
5.FMC Corporation
6.UPL Ltd.
7.Adama Ltd.
8.Sumitomo Chemical Co. Ltd.
9.Nufarm Limited
10.Isagro SpA
11.Dhanuka Agritech
12.Nippon Soda Co. Ltd.
13.Lanxess
14.AMVAC Chemical Corporation
15.Nissan Chemical Corporation
16.Ishihara Sangyo Kaisha Ltd.
17.Tata Chemicals Ltd.
18.Novo Nordisk A/S
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Key Questions answered in the Fungicide Market Report are:
- What is the forecast period?
- What is the expected Fungicide market size by the end of the forecast period?
- What are the Fungicide market segments?
- Which segment in the Fungicide market is expected to grow rapidly during the forecast period?
- Who are the prominent players in the Fungicide market?
- What key trends are expected to emerge in the Fungicide market during the forecast period?
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