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.
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.
Fungicides Market by Type (Chemical and Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Mode of Action (Contact & Systemic), Mode of Application, Form, and Region - Global Forecast to 2025
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