A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Fungicides Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2020 to 2028.
Fungicides Market Analysis
According to cognizance market research the Fungicides Market was valued at USD 18.7 Billion in 2019 and expected to register a CAGR of 94.6% from 2021 to 2028.
What is Fungicides?
Fungicides are a substance that kills a type of plant with no leaves or flowers (fungus) that grows on other plants or animals and harms them. They can be used to manage plant-damaging fungi such as rusts, mildews, and blights. They may also be used to keep mold and mildew at bay in other places. Fungicides function in a number of ways, but the majority of them destroy fungal cell membranes or prevent fungal cells from producing energy. Fungicides are important in modern farming for protecting crops from fungal diseases. Farmers have been encouraged to engage in successful pest control as a result of changes in agricultural methods and technological advances. Increased understanding of the crop-saving properties of fungicides has accompanied the rise in pest control practices.
Fungicides Market Outlook
In the Fungicides report, the market outlook segment mainly includes important dynamics of the market which include drivers, restraints, opportunities and challenges tackled by the industry. Opportunities and challenges are extrinsic factors whereas, drivers and restraints are intrinsic factors of the market.
Fungicides market growth is being fuelled by factors such as an increase in plant disease, growing consumption of fruits and vegetables due to their numerous health benefits, increased usage of advanced farming techniques, increased launches of novel fungicide products, and high demand for high-value crops are all expected to propel the fungicides market forward.
The lack of awareness among farmers related to fungicides can affect the fungicides market. In addition to this, increasing awareness about soil toxicity, as well as stringent government regulations governing the approval process, are likely to stifle the demand for fungicides.
Growth in the fungicides market can be increased by product launches, acquisitions, business expansion, and other growth strategies. Despite these factors, the rising popularity of bio-based fungicides is expected to boost the demand for the Fungicides market.
Bio-fungicides, diverse food preferences, constant pressure to increase crop yield to meet the food demand, and others are some of the main trends in the fungicides industry. Consumers’ increasing health concerns and diet plans are driving up demand for the highest quality vegetables available. Furthermore, farmers’ adoption of advanced technologies to improve crop productivity is fuelling the growth of the fungicides market.
The report offers the revenue of the Fungicides market for the period 2018-2028, considering 2018 and 2019 as a historical year, 2020 as the base year and 2021 to 2028 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Fungicides market for the forecast period. The Fungicides market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Fungicides market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Fungicides market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global Fungicides market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the global Fungicides market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Fungicides market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Fungicides market. The subsequent section of the Fungicides report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Due to the extremely increased use of fungicides in cereal crops, Europe is the leading producer of wheat and the largest consumer of fungicides. Asia-Pacific is expected to expand faster than the rest of the world. India is a major producer of wheat, rice, dry fruit, sugarcane, cotton, and pulses, among other things. China, India, and Japan all play a significant role in the region’s growing demand for fungicides in the Asia Pacific region. Agrarian-rich economies are the target consumers for the market.
Fungicides Market Competitive Landscape
The “Fungicides Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as BASF SE, Bayer AG, Corteva, Inc., Syngenta AG, FMC Corporation, and UPL Ltd among others.
The report explores the competitive scenario of the Fungicides market. Major players operating in the fungicides market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the fungicides market report.
Key Questions Answered in Fungicides Market Report
- What are the major players operating in the fungicides market?
- What are trends, drivers, opportunities, and challenges in the fungicides market?
- Which is the leading country in the fungicides market?
- What are the revenue share forecasts of key sections of the fungicides during the estimated timeframe?
- Which segment is expected to lead the fungicides market in terms of revenue by 2030?
- How partnerships & alliances among companies operating in the market are broadening the scope of the fungicides market?
- Who are the top 5 leaders of the fungicides market?
- Which unmet needs will remain unaddressed over the projected period?
The Fungicides Market has been segmented as below:
Fungicides Market, by Application
- Seed Treatment
- Soil Treatment
Fungicides Market, by active ingredients
- Phenyl amides
Fungicides Market, by crop type
Fungicides Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa