The global fungicides market is expected to reach USD 25.93 Billion by 2027, according to a new report by Reports and Data. The growing occurrence of plant and crop diseases are driving the growth of the market. Diseases are a significant source of crop and plant damage, which may be caused by several plant pathogenic organisms. Fungi are the leading reason for crop loss across the globe. Diseases often have a substantial economic impact on quality and yield; hence disease management is an indispensable component of production for the majority of the crops. Fungicides, in general, find usage for disease control during the planting and growth of a crop, increased productivity, and reducing blemishes. Diseased food crops, typically, produce less as their leaves, necessary for photosynthesis, are affected by the disease. It has been found that one in every eight crop plants fails to yield owing to fungal disease, thereby necessitating the need for crop protection policies.
Population across the globe is presently growing at a rate of about 1.05% per year. The existing average increase in population is anticipated at 81 million people each year. The world population has increased two-fold from 3 billion in 1959 to 6 billion in 1999. It is projected that it will take another approximately 40 years to grow by another 50% to reach 9 billion by the year 2037. This trend indicates a growing demand for food products worldwide. Food demand is likely to increase in the range of 59.0% to 98.0% by 2050. One of the ways, this demand could be met by improving productivity on existing agricultural lands by use pesticides such as fungicides to prevent crop damage.
Request Free sample: https://www.reportsanddata.com/sample-enquiry-form/1779
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for chemicals is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of pesticides in the agricultural fields is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
Key participants include BASF SE, FMC Corporation, Nufram, Bayer AG, Nissan Chemical Corporation, Nippon Soda Co. Ltd., Corteva Inc., Sumitomo Chemical Co. Ltd., Syngenta AG, and Isagro Spa, among others.
Further key findings from the report suggest
- By type, synthetic fungicides contributed to a larger market share in 2019 and are likely to grow at a rate of 4.0% in the forecast period. The availability of a variety of synthetic fungicides and ease of use are causative of the high market demand. Other benefits offered by this product type are higher crop quality, higher crop yields, and lower labor costs.
- By mode of action, contact fungicides are likely to grow at a rate of 5.2% in the forecast period. Contact fungicide or protectant functions by destroying the fungi when it comes in contact. Moreover, it prevents several other pathogens from getting into the tissue of plants.
- By application method, post-harvest is likely to grow at the fastest rate in the period 2020-2027. Some of the most significant crop losses owing to diseases occur post-harvest. Fungi frequently spoil stored vegetables, tubers, fruits, and seeds. A few which contaminate grains produce toxins capable of triggering severe illness or even death when consumed by humans and animals.
- By crop type, cereals & grains held the second-largest market size in 2019 and is likely to grow at a rate of 5.0% in the forecast period. An increase in population and the resulting rise in demand for food materials has resulted in an increase in the demand for crop protection chemicals, thus increasing the demand for novel fungicides solutions worldwide.
- Europe dominated the market in 2019 and is likely to grow at a rate of 3.9% in the forecast period. The market dominance of Europe is owing to the presence of leading market players in the region. Also, there is increased usage of fungicides in Europe for the protection of cereal crops.
- In April 2019, STK bio-ag technologies, a leading company in botanical sustainable crop safety, announced its partnership with Summit Agro U.S., which would become the exclusive distributor of STK products in the U.S.
For the purpose of this report, Reports and Data have segmented the global fungicides market on the basis of type, form, application method, crop type, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Synthetic Fungicides
Mode of Action Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Application Method Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Seed Treatment
- Soil Treatment
- Foliar Spray
Crop Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
Regional Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- North America
Explore Reports and Data’s Prime Analysis of the Global Agrochemicals and Fertilizers
Seed Processing Market Size, Share & Analysis, By Type (Seed Treatment, Seed Coating Material), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Vegetables, Flowers & Ornamentals), By Equipment (Cleaners, Gravity-separators, Graders, De-stoners), and By Region Forecast To 2028
Agricultural Micronutrients Market Size, Share & Analysis, By Type (Zinc, Boron, Iron, Manganese, Molybdenum, and Copper), By Mode of Application (Soil, Foliar, and Fertigation), By Form (Chelated and Non-Chelated micronutrients), Crop Type, By Region, And Forecast To 2028
Agricultural Biologicals Market Size, Share & Analysis, By Function (Biocontrol, Biofertilizers, Biostimulants), By Product Type (Microbials, Macrobials, Semiochemicals, Natural), By Mode of Application (Foliar Spray, Soil and Seed Treatment), By Crop Type (Cereals & Grains, Fruits & Vegetables, and Oilseeds & Pulses), and By Region Forecast To 2028
NPK Fertilizers Market Size, Share & Analysis, By Nutrient Type (Phosphorus, Nitrogen, Potassium, Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, And Others), By Form (Liquid, Granular), Mode Of Application (Fertigation, Foliar And Others), Form (Dry And Liquid) And Region, Forecast To 2028
Micronutrients Market Size, Share & Analysis, By Type (Zinc, Boron, Manganese, Molybdenum, And Others), By Application (Foliar, Soil, Hydroponics), By Form (Chelated And Non-Chelated), By End-User (Cereals, Fruits & Vegetables, Floriculture, Pulses And Oilseeds, Others), By Region, Forecast To 2028
Thank you for taking out time to read our report. We also offer report customization according to client’s requirement. Kindly connect with us to know more about customization plan and our team will offer you the report as per the modifications.
Our in-house experts assist our clients with advice based on their proficiency in the market that helps them in creating a compendious database for the clients. Our team offers expert insights to clients to guide them through their business ventures. We put in rigorous efforts to keep our clientele satisfied and focus on fulfilling their demands to make sure that the end-product is what they desire. We excel in diverse fields of the market and with our services extending to competitive analysis, research and development analysis, and demand estimation among others, we can help you invest your funds in the most beneficial areas for research and development.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com/
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read More Related Reports:
|Fiberglass Mold Market Projection|
|Fiberglass Mold Market Suppliers|
|Fiberglass Mold Market Growth Rate|
|Fiberglass Mold Market Revenues|
|Fiberglass Mold Market Forecast|
Note: The Heraldkeepers News Department was not involved in the creation of this content.
If you have any problem with this press release? Contact the source provider Heraldkeepers.com, you can contact them here.