Spending on Fungicides Poised to Grow Steadily, Global Market to Reach US$16.30 bn by 2023 : Transparency Market Research
Fungicides Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023
Fungicides are chemical formulations used to manage fungal diseases in plants. These can be selective and non-selective based on their targets of activity. Fungicides are available in various formulations that incorporate individual or a blend of active ingredients for specific or broad spectrum activity.
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Increasing demand for fungicides in key applications such as fruits & vegetable crops and non-crop applications in turf grass, ornamental plants, etc., is projected to fuel the global fungicide market. Swift growth in global population, especially in developing countries, is anticipated to increase food security concerns. Furthermore, limited availability of arable land raises the need for use of yield enhancing agricultural inputs (including fungicides). This is estimated to drive demand for fungicides across the globe. Initiatives to educate and increase awareness among farmers regarding benefits and correct usage of fungicides are projected to create growth opportunities for future growth of the fungicide market. However, rising incidences of resistance to fungicides and development of genetically modified crops that are resistant to fungal diseases are likely to hamper market growth during the forecast period. Mancozeb fungicide product segment is estimated to be the largest as well as the fastest growing fungicides product. Mancozeb is relatively low priced, effective, non-selective. Additionally, mancozeb has registered least number of incidences of resistance compared to other non-selective fungicide active ingredients available in the market.
This report provides detailed description of the global fungicides market based on volume share (kilo tons) and revenue (US$ 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.
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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.
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The report segments the global fungicides market as follows:
Fungicides Market - Product Segment Analysis
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