The global fungicides market is projected to reach a valuation of US$ 30 Bn in 2032, up from its present market size of 18.5 Bn, expanding at a CAGR of 4.9% between 2022 and 2032.
Fungicides are chemical compounds used to prevent, control or eliminate fungal growth on plants. These products are widely used in agriculture to protect crops from fungal diseases, which can cause significant yield loss. The global fungicides market is driven by the increasing demand for food and the need to protect crops from diseases.
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The market is driven by the growing population, increasing demand for food, and the need to protect crops from diseases.
Segmentation: The global fungicides market is segmented by type, application, and geography.
- By type, the market is segmented into synthetic fungicides, biofungicides, and others. Synthetic fungicides are the most widely used products in the market, due to their efficacy and cost-effectiveness.
- By application, the market is segmented into cereals & grains, fruits & vegetables, and others. Cereals & grains are the largest application segment of the market, due to their high demand as a staple food.
Geography: Geographically, the global fungicides market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific is the largest market for fungicides, due to the large population and high demand for food.
Key Players: The key players in the global fungicides market include BASF SE, DowDuPont, FMC Corporation, Syngenta AG, Bayer AG, Nufarm Limited, Sumitomo Chemical Co., Ltd., ADAMA Agricultural Solutions Ltd., UPL Limited, and Sipcam Agro USA, Inc.
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The market is driven by the increasing demand for food and the need to protect crops from diseases. Asia-Pacific is the largest market for fungicides, due to the large population and high demand for food.
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