Fungicides are chemical formulations used to manage fungal diseases in plants. Fungicides can be selective and non-selective based on their target of activity. These are available in various formulations that incorporate individual or a blend of active ingredients for specific or broad spectrum activity. Fungicides are primarily used in major crops such as fruits, vegetables, cereals, grains, oilseeds, and pulses. These are also used in non-crop applications such as turf grass for golf, football, hockey, cricket, and other stadia, and ornamental plants for indoor and outdoor decorations, and municipal causeways.
Currently, in terms of volume, fungicides are majorly used in fruits & vegetables across the globe. These are used to manage various fungal diseases in apples, grapes, muskmelons, potato, tomato, lemons, orange, carrots, etc. Usage of fungicides in fruits & vegetable crops is primarily driven by rising demand for fruits & vegetables globally. This increase in demand is due to changing dietary patterns of the middle income population. Additionally, farmers are under pressure to increase their yield owing to rising population and limited availability of arable land. Governments and agricultural institutes across the world are promoting the usage of agricultural inputs such as fungicides that help in enhancing yield by securing crops against diseases. This is projected to further boost the global demand for fungicides. Furthermore, sale of ornamental plants for indoor and outdoor applications has increased due to rise in urbanization. Usage of fungicides is also anticipated to increase in order to maintain these ornamental plants. Moreover, usage of non-selective fungicides is projected to rise for disease management in turf and grass applications in stadia, lawns, and gardens.
Increasing incidences of resistance to fungicides is a key factor restraining the fungicide market. Fungicides can be substituted by genetically modified crops with better disease resistance. This is likely to hamper market growth in the near future.
Mancozeb was the dominant fungicide product segment accounting for more than 20% share of the global fungicide market in terms of volume in 2014. Additionally, the mancozeb fungicides are anticipated to be the fastest growing product segment during the forecast period. This fast paced growth in demand for mancozeb can be attributed to very low number of incidences of resistance, low price and a very effective non-selective fungicidal activity. Other key fungicides include chlorothalonil, metalaxyl, and strobilurin. These fungicides, especially, strobilurin is facing rising number of resistance incidences against fungicidal activity in vegetables and cereals crop types. Additionally, these products are priced relatively higher, causing the price-sensitive farmers to switch to low-priced alternatives.
In terms of volume, Asia Pacific dominated the global fungicide market with over 25% share in 2014. Demand for fungicides is anticipated to be high in fruits & vegetables and cereals & grains segments in the region. The fungicides market in North America is estimated to expand at above-average CAGR during the forecast period due to high demand from fruits & vegetables and non-crop applications. Middle East & Africa (MEA) is expected to be the fastest-growing market for fungicides during the forecast period owing to higher focus of market players and international welfare organizations such as UN for investment in the region. Latin America is another major market for fungicides with moderate growth in cereals & grains applications. Europe is a mature market that is anticipated to expand at below average growth rate during the forecast period.
The global fungicides market is consolidated; a few players operate across the globe. Large-scale producers have vertically integrated operations. This provides them with cost advantage over smaller players. Key players include Syngenta, BASF SE, Bayer CropScience, E.I. du Pont de Nemours and Company, Dow AgroSciences LLC, Monsanto Company, Nufarm Limited, Sumitomo Chemical Co., Ltd., ADAMA Agricultural Solutions Ltd. and Cheminova A/S
Fungicides are chemical formulations used to manage fungal diseases in plants. These can be selective and non-selective based on their targets of activity. Fungicides are available in various formulations that incorporate individual or a blend of active ingredients for specific or broad spectrum activity.
Increasing demand for fungicides in key applications such as fruits & vegetable crops and non-crop applications in turf grass, ornamental plants, etc., is projected to fuel the global fungicide market. Swift growth in global population, especially in developing countries, is anticipated to increase food security concerns. Furthermore, limited availability of arable land raises the need for use of yield enhancing agricultural inputs (including fungicides). This is estimated to drive demand for fungicides across the globe. Initiatives to educate and increase awareness among farmers regarding benefits and correct usage of fungicides are projected to create growth opportunities for future growth of the fungicide market. However, rising incidences of resistance to fungicides and development of genetically modified crops that are resistant to fungal diseases are likely to hamper market growth during the forecast period. Mancozeb fungicide product segment is estimated to be the largest as well as the fastest growing fungicides product. Mancozeb is relatively low priced, effective, non-selective. Additionally, mancozeb has registered least number of incidences of resistance compared to other non-selective fungicide active ingredients available in the market.
This report provides detailed description of the global fungicides market based on volume share (kilo tons) and revenue (US$ Mn) from 2014 to 2023. It highlights factors that drive and restrain the market. Detailed forecast for fungicide from 2015 to 2023 has been provided separately for better understanding of the market scenario. The fungicide market has been described with respect to various segments along with potential opportunities during the next eight years. Value chain analysis and Porter’s Five Forces model have been included to provide a comprehensive view of the market. These would also help understand specifics of the industry structure apart from giving an overview of the degree of competitiveness.
In terms of geography, the global fungicides market has been segmented into the following regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Each region has been further divided into countries that are key markets for fungicides. The study also analyzes market attractiveness for key countries with the help of the market attractiveness tool.
Based on product (active ingredient), the study segments the global fungicides market into mancozeb, chlorothalonil, metalaxyl, strobilurin, and others (triazols, benzimidazoles, phenylamides, etc.). It provides forecasts and estimates for each product segment in terms of revenue and volume during the forecast period for each region (including countries).
Based on application, the study segments the global fungicides market into cereals & grains, oilseeds & pulses, fruits & vegetables, and others (turf, ornamental plants, etc.). It provides forecasts and estimates for each application segment in terms of revenue and volume during the forecast period for each region (including countries).
The fungicides market is consolidated, with the top four players accounting for more than two-third share of the market in terms of revenue in 2014. Key global players are integrated backward and produce their own raw material inputs. Most global players also operate regional research and testing centers across all regions in order to keep their products market oriented as per the regional need. The report also includes detailed profiles of key players such as Syngenta, BASF SE, Bayer CropScience, E.I. du Pont de Nemours and Company, Dow AgroSciences LLC, Monsanto Company, Nufarm Limited., Sumitomo Chemical Co., Ltd., ADAMA Agricultural Solutions Ltd., and Cheminova A/S. Detailed description of players includes parameters such as company overview, financial overview, business strategies, upcoming facilities, capacity addition, mergers, acquisitions, and joint ventures, new products, and recent developments.
The report segments the global fungicides market as follows:
- Fungicides Market - Product Segment Analysis
- Others (Including triazols, benzimidazoles, phenylamides, etc.)
- Fungicides Market – Application Analysis
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (Including ornamental plants, grass, etc.)
- Fungicides Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America