Fungicides Market is estimated to reach valuation of ~US$ 22.3 Bn
Fungicides Market: Key Highlights
In terms of value, the global fungicides market is anticipated to expand at a
CAGR of ~4% from 2019 to 2027.
Fungicides are used to control disease attacks on crops from fungi. Fungicides
play a vital role in increasing crop production by protecting the crops from fungal
attack, primarily delicate food crops such as fruits and vegetables.
In terms of product, the triazole segment accounted for a major share of the
fungicides market in 2018, owing to its broad spectrum of applications on
various crops. However, the mancozeb segment is expected to expand at a rapid
pace during the forecast period, owing to its cost effectiveness and ease of
The fruits & vegetables crop segment dominated the global fungicides market
in 2018, due to the large consumption of fungicides in the cultivation of these
crops and rise in the area harvested for fruits and vegetables.
The fungicides market in Asia Pacific is estimated to expand at a CAGR of
~4% during the forecast period, owing to a rise in the adoption of fungicides
among farmers and governmental support for the usage of fungicides.
Need for Efficient Pesticides to Drive Global Fungicides Market
The global population has been increasing rapidly, while the arable land is
decreasing day-by-day. Global population rose from 7.2 billion in 2015 to 7.5
billion in 2019. Rapid expansion of the population has led to an increase in food
Per capita agricultural land has been decreasing at a rapid pace. It is necessary to
find ways to increase crop yield in order to ensure food security.
Fungi is the most prevalent reason for crop loss. Therefore, fungicides play a vital
role in enhancing productivity, improving quality through the reduction of
blemishes on crops, and expanding the storage life of harvested crops
Increase in awareness among end users regarding efficient agrochemicals,