Fungicides are defined as a type of biological organism that controls fungal disease by killing the fungus. It is widely used for the prevention of fungal disease that affects plants. Fungicides help to enhance the quality of the crop. It is also used in animals to prevent them from fungal infection. Fungicides are gaining popularity among the farmers due to their various properties such as high crop yield, better quality crop production and others.
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Global fungicides market is anticipated to post a noteworthy CAGR of 6.1% during the forecast period i.e. 2017-2024. Moreover, the global fungicides market is projected to account sales of USD 16.1 Billion by the end of 2024.
Additionally, mounting demand for fungicides which can control genetically modified crops (GMO) is projected to foster the growth of fungicides market.
On the basis of synthetic type, the triazoles segment is expected to project a highest CAGR by the end of 2024 owing to low cost.
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Furthermore, cereals & grains by crop type segment accounted for the largest market share in 2016. Likely, cereals & grains are estimated to grow at a highest CAGR by the end of 2024 owing to the increased awareness regarding their nutritional benefits.
Rising Food Security Concerns
Growing population all across the globe along with rising demand for food grains, vegetables and other agricultural products and increasing concern for food security are believed to be the major factor behind the rapid growth of fungicides market. Moreover, rise in crop loss due to fungal diseases is also impacting the growth of fungicides market.
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Rising awareness among the farmers about the benefits of fungicides in developing and developed nations such as U.S., China, Japan, India and others is augmenting the demand for fungicides which is predicted to be the key factor behind the positive growth of fungicides market. Furthermore, high demand for crop protection along with upsurge adoption of fungicides to enhance quality and quantity of production of grains is projected to boost the demand for fungicides.
On the contrary, environmental concerns and health concerns are believed to hamper the growth of fungicides market across the globe.
The report titled “Fungicides Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global fungicides market in terms of market segmentation by type, by crop type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global fungicides market which includes company profiling of Syngenta, Monsanto, Nufarm Ltd, Adama Agricultural Solutions Ltd, FMC Corporation, Cheminova A/S, Bayer AG, BASF SE, DOW Agroscience LLC, Pesticide Company Consolidations. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global fungicides market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...