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Fungicides Market Projected to Reach $24.5 Billion by 2025, Key Players are BASF SE, Bayer AG, Corteva, Inc., Syngenta AG, Nippon Soda Co., Ltd., Isagro S.p.A, Nufarm

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Fungicides Market Projected to Reach $24.5 Billion by 2025, Key Players are BASF SE, Bayer AG, Corteva, Inc., Syngenta AG, Nippon Soda Co., Ltd., Isagro S.p.A, Nufarm

July 29
22:56 2021
Fungicides Market Projected to Reach $24.5 Billion by 2025, Key Players are BASF SE, Bayer AG, Corteva, Inc., Syngenta AG, Nippon Soda Co., Ltd., Isagro S.p.A, Nufarm

MarketsandMarkets™
The fungicides market is estimated to account for a value of USD 18.7 billion in 2019 and is projected to grow at a CAGR of 4.6% from 2019, to reach a value of USD 24.5 billion by 2025

The global fungicides market is estimated to be valued at USD 18.7 billion in 2019 and is projected to reach USD 24.5 billion by 2025, recording a CAGR of 4.6%. The growth of the fungicides market driven by the changing climatic conditions and the rising demand for high-value crops, particularly for fruits & vegetables. The development of biofungicides with least or no effect on the environment provides open opportunities for further growth of the fungicides market.

Fungicides Market

Key players in the fungicides market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), UPL Ltd. (India), and ADAMA Agricultural Solutions Ltd. (Israel). Product innovation, expansions & investments, acquisitions, agreements, collaborations, approvals, and partnerships were some of the core strengths of the leading players in the fungicides market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. Some of the other leading players in the fungicides market include Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Isagro S.p.A (Italy), Nufarm (Australia), Nissan Chemical Corporation (Japan), Marrone Bio Innovations, Inc. (US), Koppert Biological Systems (Netherlands), Bioworks, Inc. (US), STK Bio-ag Technologies (Israel), Verdesian Life Sciences (US), Seipasa S.A. (Spain), Ishihara Sangyo Kaisha, Ltd. (Japan), and Nutrichem (China).

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BASF SE (Germany) is the world’s leading chemical company that produces a wide range of products. It operates through five segments, namely, chemicals, agricultural solutions, performance products, functional materials and solutions, and others. BASF’s agricultural solutions segment includes functional crop care, biotechnology, turf, ornamentals and landscape, pest control, and animal nutrition. The agricultural solutions segment includes crop protection products such as insecticides, herbicides, fungicides, and plant growth regulators. The company offers fungicide brands such as Xemium, Revysol, F 500, Initium, and Serifel. BASF operates in more than 80 countries across the globe. It has about 390 production sites in Asia Pacific, Europe, South America, the Middle East & Africa, and North America

Bayer AG (Germany) is one of the leading manufacturers of products in the healthcare and nutrition industries. The company’s businesses include pharmaceuticals, consumer health, crop science, and animal health. It also supplies high-quality food products, feed, and plant-based raw materials and helps in promoting the sustainable use of natural resources. Its crop science segment is one of the world’s leading agriculture enterprises following the acquisition of Monsanto, with businesses in crop protection and seeds. Through this segment, the company offers a broad portfolio of high-value seeds, improved plant traits, innovative chemical and biological crop protection products, digital solutions, and extensive customer service for sustainable agriculture. It also offers herbicides, corn seed & traits, soybean seed & traits, insecticides, fungicides, vegetable seeds, and digital agriculture solutions. The company offers fungicide products under brands such as Absolute Maxx, Delaro, and Prosaro. In addition, the company markets pest and weed control products and provides services to professional users outside the agriculture industry.

By type, the biological segment is projected to be the fastest-growing segment in the fungicides market during the forecast period.

Biological fungicides or biofungicides comprise beneficial microorganisms that are used to control fungal diseases. Many of these beneficial microorganisms are naturally found in the soil. Biofungicides are mostly used before the occurrence of disease. Their efficiency increases if used in combination with good agricultural practices. Biofungicides have different modes of action, such as competition/exclusion, antibiosis, parasitism, induced resistance, and plant growth promotion. Also, the over-use of chemical fungicides has harmful effects on the environment and thus, the fungicides market for biologicals is projected to grow at a higher CAGR from 2019 to 2025.

By form, the liquid segment is projected to dominate the fungicides market during the forecast period.

Liquid forms can be water-based, oil-based, polymer-based, or their combinations. Water-soluble liquids (SL) are liquid formulations based on technical material, which are insoluble in water and contain 36%–85% technical material and solvent. Water-based forms, such as suspension concentrates, suspo-emulsions, liquid concentrates, and capsule suspensions, require the addition of inert ingredients, which include stabilizers, stickers, surfactants, coloring agents, antifreeze compounds, suspending agents (such as bentone), and additional nutrients.

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South America is projected to grow at the highest CAGR during the forecast period.

The market for fungicides in the South America region is projected to grow at the highest CAGR from 2019 to 2025. According to the FAOSTAT, Brazil is the largest producer of agricultural products due to the availability of abundant land and rural labor force, followed by Argentina. The growth of the South America market is majorly attributed to the increase in the adoption of agrochemicals and advancements in farming techniques in Brazil and Argentina, with the distribution channels established by global agrochemical players. Due to these factors, the market in the South America region is projected to record the highest growth from 2019 to 2025.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the fungicides market. It includes the profiles of leading companies, such as BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), UPL Ltd. (India), Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Isagro S.p.A (Italy), Nufarm (Australia), Adama Agricultural Solutions Ltd. (Israel), and Nissan Chemical Corporation (Japan), Marrone Bio Innovations, Inc. (US), Koppert Biological Systems (Netherlands), Bioworks, Inc. (US), STK Bio-ag Technologies (Israel), Verdesian Life Sciences (US), Seipasa S.A. (Spain), Ishihara Sangyo Kaisha, Ltd. (Japan), and Nutrichem (China).

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