Middle East and Africa Fungicides Market was worth USD 0.87 billion in 2016 and is expected to reach USD 1.5 billion by 2021 with a CAGR of 2.9 %.
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Fungicides is a type of pesticide used to kill the fungi or fungi spores. It helps to prevent the damage to crops caused by the attack of fungi.
Some of the fungicides are dangerous to human and animal health. So, the major regulations governing the use of fungicides in the countries is expected to hamper the growth of fungicides market in the near future.
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Increasing 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 drivers propelling 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 market.
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The 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, Triazoles, Chloronitriles, 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.
Cereals and grains has the largest share in the market and is expected to show highest CAGR during the forecast period. Based on Geography, this market is further segmented in to Middle East and Africa.
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Some of the key players in the market are 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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