Chemical Fungicides Market - 2023-2030

Overview

Global Chemical Fungicides Market reached US$ 4.34 billion in 2022 and is expected to reach US$ 6.31 billion by 2030, growing with a CAGR of 4.81% during the forecast period 2023-2030.

The global chemical fungicides market has witnessed significant growth and transformations over the years, farmers are adopting these fungicides as they effectively target and eliminate fungal disease. It helps in maintaining crop quality and yield protection. Fungicide treatments can extend the shelf life of harvested crops by preventing post-harvest fungal infections. Hence, it leads to increase market growth.

Furthermore, many manufacturing companies are launching high-quality products in order to attract a large consumer base. For instance, in May 2020, BASF SE launched a new fungicide solution which is Melyra fungicide powdered by Revysol and F500 active ingredient in China, which delivers strong performance against diseases while meeting the highest level of regulatory standards.

The synthetic fungicide segment accounts for over half of the market share. Similarly, the Asia-Pacific dominates the chemical fungicides market, capturing the largest market share of over 1/3rd. India remains the largest consumer of chemical fungicides as the production of cereals is higher in this region.

Dynamics

Increase in Government Schemes

The farmers are more attracted to chemical fungicides as they provide the cultivation of a wider variety of crops by providing protection against specific fungal pathogens. By observing the significant rise in chemical fungicide demand the government is investing more in research and developments in the agricultural sector to develop new and effective fungicide formulations, which can lead to an increase in the adoption rate.

Furthermore, governments of many countries are launching schemes, and subsidy programs in order to help small-scale farmers to adopt these chemical fungicides. For instance, the government of India provides National Soil Health Card Scheme, to promote Soil Health Management (SHM) under National Mission for Sustainable Agriculture (NMS) aims at promoting Integrated Nutrient Management (INM) through judicious use of chemical fertilizers including secondary and micronutrients in conjunction with organic manures and bio-fertilizers for improving soil health and its productivity.

Increase in Product Launches

The demand for chemical fungicides is increasing which leads to the development of advanced fungicide compounds and formulations, to produce more effective disease control. Also the farmers are showing more willingness to adopt the chemical fungicides as they provide protection for a wider variety of crops and show minimal effect on non-targeted organisms.

Furthermore, many manufacturing companies are launching innovative high-quality products in order to expand their consumer size and to help the farmers to achieve high-quality productivity. For instance, in November 2022, FMC launched the Adastrio fungicide. This product has a foliar fungicide that combines three modes of action and is the first fungicide to use the newest molecule in the SDHI class, fluindapyr. This provides effective control of foliar disease and helps in yeild protection in all the way through to harvest.

Resistance Development

The use of chemical fungicides to treat fungal populations can result in the development of resistant strains over time. When this happens, the fungicide is no longer effective in controlling resistant strains, which reduces its effectiveness. This can lead to the deposition of fungicide residues in the crops which can cause adverse health effects for humans. It can lead to declination in market growth.

Furthermore, Fungal pathogens that become resistant to fungicides can cause greater yield losses due to reduced disease control. For instance, according to the CABI report of 2023, an estimated 20-40% of crop yield is lost to pests and diseases. This has a directly impact on global food production. Such losses and the development of resistance can lead to declination in market growth.

Segment Analysis

The global Chemical Fungicides market is segmented based on product, form, active ingredients, action, crop type, distribution channel, application and region.

Increase in Demand for Effective Pest Management

The synthetic fungicides segment holds the maximum share of the global chemical fungicides market. Synthetic fungicides are highly adopted in modern agriculture practices as they target specific fungal pathogens and inhibit or kill them, which helps in reducing the chemical residues in the crop. They also help in maintaining the crop yield and quality, hence it can lead to increasing market growth.

Furthermore, many manufacturing companies are working together in order to produce high-quality products. For instance, in April 2022, Insecticides(India)Ltd and Nissan Chemical Corporation launched an Izuki fungicide. This product provides a combination of two molecules with excellent prophylactic and curative properties. It protects paddy against diseases such as sheath blight & blast. Izuki is extremely safe for pollinators and the environment too. Such products help in increasing the market growth.

Geographical Penetration

Increase in Production and Exports of Cereals and Vegetables

Asia-Pacific has been a dominant force in the global chemical fungicides market and its significance has only grown in the post-2020 era. Farmers in this region are adopting this chemical fungicide as it provides various formulations, for effective killing or inhibiting fungal diseases. The fungicide treatments help increase the shelf life of post-harvest products; hence it can lead to an increase in market growth in this region.

Furthermore, vegetable production in this region is increasing as people are shifting to healthier diets. For instance, according to the Department of Agriculture, Fisheries and Forestry report of 2022, vegetable production has increased by 6.6% per person on average over the last 5 decades which is a volume of 4.79 billion in 2020-21. The increase in vegetable production helps in increasing in usage of chemical fungicides.

Additionally, the increase in the production and exports of cereals in this region helps in the adoption of chemical fungicides. For instance, according to the Ministry of Commerce & Industry, Government of India, India is the largest producer and exporter of cereal products, the production of major cereals like rice, maize and Bajra stood at 102.36 million tons, 19.88 million tons and 9.23 million tons respectively and export of cereals stood at Rs. 111,062.37 Crore / 13,857.95 USD millions during the year 2022-23.

Competitive Landscape

The major global players in the market include

COVID-19 Impact Analysis

The pandemic has created a disruption in the supply chain which led to the limitation of product availability on the market. Many manufacturing companies are shut down due to government lockdown restrictions and agriculture practices are affected due to less availability of raw materials in the market which has shown a negative impact on the global chemical fungicides market.

Furthermore, during the pandemic, many consumers have started adopting indoor agriculture farming due to an increase in health consciousness and there is availability of more free time with them. This has raised the usage of chemical fertilizers as they are suitable for a wide variety of crops. Such, led to an increase in adoption rate.

Russia-Ukraine War Impact Analysis

The ongoing conflict between Russia and Ukraine has caused a disruption in the country's economy, Many manufacturing companies are shut down due to low employment, exports, and import rates which has caused less availability of products in the market. which has shown a negative impact on the global chemical fungicide market.

Furthermore, the ongoing war between these countries has damaged many agricultural lands due to pollution caused by the wars and the employment ratio is also decreased. People started investing in essential goods due to the low economic rate. Which has shown a negative impact on the global chemical fungicides market.

By Product

• Bio Based Fungicide
• Synthetic Fungicide

By Form

• Liquid
• Dry

By Active Ingredients

• Di thiocarbamates
• Benzimidazoles
• Chloronitriles
• Triazoles
• Phenylamides
• Strobilurins
• Others

By Action

• Contact
• Systemic

By Crop Type

• Cereals and Grains
• Oilseeds and Pulses
• Fruits and Vegetables
• Others

By Distribution Channel

• Company Stores
• E-Commerce
• Hypermarkets/Supermarkets
• Specialty Stores
• Others

By Application

• Seed Treatment
• Soil Treatment
• Foliar Spray
• Chemigation
• Post-Harvest
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In December 2020, Nissan Chemical Corporation acquired Corteva, Inc., for the Mancozeb product line of fungicides in Japan and Korea. Mancozeb is a protective fungicide that shows significant efficacy against various plant diseases, mainly used in Asia and South America by Corteva Agriscience with the brand name DITHANE.
• In August 2022, The Adventz group is selling Mangalore chemicals to Chambal Fertilizers as the diversified enterprise looks to rejig its corporate structure. This could help Chambal Fertilizers to acquire an entry into the southern market.
• In June 2021 the Competition Commission of India (CCI) gave approval for the acquisition of the Zuari Agro Chemicals Limited fertilizers manufacturing plant at zuarinagar plant by paradeep phosphates for a deal of 2135.05 crores INR.

Why Purchase the Report?

• To visualize the global chemical fungicides market segmentation based on product, form, active ingredients, action, crop type, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of chemical fungicides market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global chemical fungicides market report would provide approximately 89 tables, 100 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies