DUBLIN, March 3, 2020 /PRNewswire/ -- The "Fungicides Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider fungicides market, and compares it with other markets.
The global fungicides market was worth $16.67 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 11% and reach $24.89 billion by 2023.
Farmers globally are adopting intensive farming techniques to increase productivity per hectare, driving the demand for pesticides and other agricultural chemicals. Intensive farming is an agricultural intensification and mechanization system that aims to maximize yields from available land through means such as heavy use of pesticides and chemical fertilizers. These techniques help to meet the rising demand for food from the growing population and prevent food shortages. Intensive farming techniques such as monoculture drive the demand for pesticides. Monoculture is a practice of growing one type of crop intensively over a large area, depleting the nutrients in the soil and making it heavily dependent on pesticides.
The rising demand for organic food products is expected to negatively impact the fungicides market. This can be attributed to the changing lifestyles and increasing preference for organic food. Organic food products are derived through farming systems without the use of fungicides. In 2017, the sales of organic food and drink products in the UK increased by 6% from 2016. Similarly, in 2016, the sales of organic food in the US increased by 8.4% to $43 billion, from 2015. Rising demand for organic food products will limit the use of fungicides in crop production, restricting the growth of the fungicides market.
Developing agricultural countries, including China, Brazil, and India, are experiencing increasing demand for inorganic fungicides due to their lower prices than organic fungicides. Other factors driving this market include rapid population growth, depleting cultivable land, lack of proper regulations, and increasing demand for quality fruits and vegetables. Inorganic fungicides are manufactured from abundantly available and easily produced elements, making the product significantly cheap. Farmers in developing regions procuring inorganic fungicides in large quantities are expected to drive the market in the forecast period.
In March 2017, FMC Corporation, a USA-based chemical manufacturing company that manufactures insecticides, herbicides, miticides, and fungicides acquired portion of DuPont's crop protection business for an undisclosed amount. The acquisition helped FMC Corporation in broadening its product portfolio by bringing in DuPont's leading products in crop protection portfolio and its research & development capabilities. DuPont is a USA-based chemicals company and specializes in manufacturing pesticides
Major players in the market are Adama Agricultural Solutions Ltd (Formerly Makhteshim Agan Industries Ltd) (Israel), American Vanguard Corporation (United States), BASF SE (Germany), Bayer Cropscience AG (Germany), Bioworks Inc (United States), Dow Agrosciences LLC (United States), DuPont (United States), FMC Corporation (United States), Marrone Bio Innovations Inc. (United States), Monsanto Company (United States).
Key Topics Covered
1. Executive Summary
2. Fungicides Market Characteristics
3. Fungicides Market Size and Growth
3.1. Global Fungicides Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Fungicides Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Fungicides Market Segmentation
4.1. Global Fungicides Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Synthetic Fungicides
4.2. Global Fungicides Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
5. Fungicides Market Regional and Country Analysis
5.1. Global Fungicides Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Fungicides Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Adama Agricultural Solutions Ltd. (Formerly Makhteshim Agan Industries Ltd.) (Israel)
- American Vanguard Corporation (United States)
- BASF SE (Germany)
- Bayer Cropscience AG (Germany)
- Bioworks Inc. (United States)
- Dow Agrosciences LLC (United States)
- DuPont (United States)
- FMC Corporation (United States)
- Marrone Bio Innovations Inc. (United States)
- Monsanto Company (United States)
- Nufarm Ltd. (Australia)
- Sumitomo Chemical (Japan)
- Syngenta International AG (Switzerland)
- UPL Limited
- Cheminova A/S
- Lanxess AG
- E.I Du Pont de Numerous and Company
For more information about this report visit https://www.researchandmarkets.com/r/bw84yd
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