Europe Fungicides Market was worth USD 4.35 billion in 2016 and is expected to reach USD 5.34 billion by 2021 with a CAGR of 4.2 %.
Fungicides prevent the diseases caused by fungi and its spores which can have serious effect on crop yield and quality. Fungi often spoil the stored vegetables, fruits, seeds and tubers.
A few infected grains produce toxins that are capable of causing severe illness in humans and animals when consumed. Due to this there is an increasing usage of fungicides in crops.
The main markets are fruit and vegetables, cereals and rice. The development of new bio fungicides will create a new market opportunities for the key players.
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Rising need for food security for the increasing population, increasing loss of crop due to fungal disease, increasing investment in research and development, shrinking arable land, change in farming practices are the major factors boosting the market. However, factors such as stringent regulatory conditions differs in countries, increase in environmental pollution and shift to genetically modified seeds are hindering the growth of the fungicides market.
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The Europe Fungicides Market is segmented based on Type, Crop Type, Form and Mode of Action. Based on Type, Market is segmented into synthetic and bio fungicides.
The synthetic fungicides are further segmented into Benzimidazoles, Chloronitriles, Triazoles, Phenylamides, Strobilurins, Dithiocarbamates and others. Based on Crop type, Market is segmented into Fruits and vegetables, Oilseeds, Pulses, Cereals and Grains and others.
Based on Form, the market is segmented into Liquid, Wettable powder, water dispersable powder. Based on mode of application, the market is segmented into Soil treatment, post-harvest, foliar spray, seed treatment and others.
Based on Geography, this market is further segmented in to UK, Italy, Spain, Germany and France. Europe is one of the largest contributors to global market because of its advanced agricultural technologies.
Italy and France constitute highest country level markets in this region.
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The Europe fungicides market is dominated by key players like BASF SE, Dow AgroSciences LLC, Sumitomo Chemical Co., Ltd, Bayer CropScience AG, Syngenta AG, Nippon Soda Co. Ltd, Cheminova A/S, and Nufarm Ltd.
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