Global Fungicide Market Statistics, Development and Growth 2017 to 2023
Summary – A New Market Study, “Fungicides
Market : Global Market Estimation, Dynamics, Regional Share, Trends, Competitor
Analysis 2012 to 2016 and Forecast 2017 to 2023” Has Been Featured On Wiseguyreports.
Fungicides
are the chemical compounds, which are used to kill the fungi or fungi spores in
crops. Fungal infections are a major cause of crop loss and it is a massive
threat for cultivation wheat, maize, rice, soybean, fruits & vegetables,
and sugarcane among others. Fungicides help in the crop protection and gives
the better quality products with higher yield. Fungicides are classified into
either selective to cure specific fungicides or non-selective with the broad
spectrum activity and show activity against multiple fungal diseases. Sulfur is
the common active ingredient used in the fungicides and the most commonly used
fungicides include mancozeb, prochloraz, propiconazole, and chlorothalonil
among others.
Market
Dynamics: Fungicides Market
Factors
anticipated to drive the fungicides market are increase in the demand for crop
protection for better yields, increase in global population coupled with
increase in the demand for food, and growing use of fungicides due to rise in
incidence of fungal infections. Moreover, development in novel farming
practices, shrinkage in arable land, and innovation and launching of newer
products into market are expected to propel the fungicides market revenue over
the forecast period. However, technological advancements in the seeds, use of
genetically modified crops, adverse effects associated with the fungicides, and
lack of awareness about the fungal infections in farmers might hamper the
growth of the fungicides market over the forecast period.
Market Scope:
Fungicides Market
Fungicides
market is segmented on the basis of product type, crop type, formulation type,
and mode of application
Based on the
product type, fungicides market is segmented into the following:
Dithiocarbamates
Chloronitriles
Triazoles
Benzimidazoles
Phenylamides
Strobilurins
Based on the
crop type, fungicides market is segmented into the following:
Oilseeds and
pulses
Cereals and
grains
Forage crops
and pastures
Others
Based on the
formulation type, fungicides market is segmented into the following:
Water-dispersible
granules
Liquid
Wettable
granules
Based on the mode
of application, fungicides market is segmented into the following:
Soil
treatment
Seed
treatment
Foliar spray
Post-harvest
Market
Summary: Fungicides Market
Fungicides
market is growing moderate rate over the forecast period due to advancements in
the seed technology, which might lag the revenue growth of fungicides market.
Farmers are majorly focusing to improve the crop yield due to rise in global
population coupled with decrease in arable land. Various agriculture institutes
and governments around the globe are taking initiation to create awareness
about fungicides usage for crop protection. Moreover, increase in the sale of
ornamental plants for outdoor and indoor applications due to increase in the
urbanization also expected to fuel the fungicides market. In addition,
acquisitions and mergers, collaborations, product approvals, and product
launchings are the strategies followed by the companies for increasing their
revenue share in fungicides market. For instance, in April 2014, Sumitomo
Corporation acquired crop protection Global Fungicide Market Metominostorbin, a
broad-spectrum systemic Global Fungicide Market from Bayer Crop Science Japan.
Furthermore, in September 2015, Dupont received EPA approval for the
oxathiapiproline, a Global Fungicide Market used in fruits and vegetable crops marketed
under the trade name of Zorvec.
Regional
Analysis: Fungicides Market
Geographically,
fungicides market is segmented into North America, Europe, Asia Pacific, Latin
America, and Middle East and Africa. North America fungicides market expected
to grow moderately over the forecast period, which is attributed to ban of
fungicides by FDA (FDA banned carbendazim due to severe adverse effects such as
sterility and cancer in human beings). Rise in R&D for innovation of newer
fungicides, frequent product approvals from U.S EPA, and rise in demand for
quality food products are anticipated to fuel the fungicides market in North
America region. Europe fungicides market occupied significant share in global
market due to development in the farming techniques, increase in the focus on
quality products with better yield, and high adoption of newer products in the
region. Asia Pacific fungicides market exhibiting significant growth due to
increase in production and supplying of fungicides from Asia Pacific region majorly
from China, increase in demand for food products and decrease in arable land
due to increased population, and high dependence on agriculture farming.
Market
Participants: Fungicides Market
Some of the
players in fungicides market are BASF SE (Germany), Monsanto Company (U.S.),
Bayer CropScience AG (Germany), Nufarm Ltd. (Australia), Syngenta AG
(Switzerland), E.I. DuPont De Nemours & Company (U.S.), Sumitomo
Corporation (Japan), FMC Corporation (U.S.), Mitsui & Co., Ltd. (Japan),
Nippon Soda Co. Ltd. (Japan), and ADAMA agricultural solution ltd. (Israel) to
name a few.
Notable
Market Developments: Fungicides Market
In April
2017, Syngenta launched Aprovia, a Global Fungicide Market used for controlling
the foliar disease in potatoes
In January
2017, Mitsui & Co. Ltd. inked an agreement with Monsanto Company to acquire
global business of Monsanto’s latitude, a wheat seed treatment fungicide
For More Details : https://www.wiseguyreports.com/reports/2753970-fungicides-market-global-market-estimation-dynamics-regional-share-trends-competitor
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