Rohtak News Magazine

Fungicide Market worth $28.0 billion by 2027 – Exclusive Report by MarketsandMarkets™

 Breaking News
  • No posts were found

Fungicide Market worth $28.0 billion by 2027 – Exclusive Report by MarketsandMarkets™

November 04
21:36 2022
Fungicide Market worth $28.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
MarketsandMarkets™
Increase in agricultural land under organic farming, provides farmers with the opportunity to fulfil rising domestic and worldwide organic food demand. As a result, farmers are using fungicides to protect their crops from various fungal infestations to minimize crop losses and increase overall crop yield.

According to a research report Fungicide Market by Type (Chemical, Biologicals), Mode of Application (Seed Treatment, Soil Treatment, Foliar Spray, Post-Harvest), Mode of Action (Contact, Systemic), Form (Dry, Liquid), Crop Type, and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global fungicides market will be valued at USD 20.8 billion in 2022. It is projected to reach USD 28.0 billion by 2027, recording a CAGR of 6.1% during the forecast period. The fungicide market has been influenced by some of the macro indicators witnessed across the globe. According to the Food and Agriculture Organization, total agricultural land under organic farming for grains, pulses, fruits, and vegetables is increasing year after year. Global agricultural land under organic farming in 2020 was 74.95 million hectares, showing a growth of 5.40% from 71.11 million hectares in 2018. This increase in agricultural land under organic farming, provides farmers with the opportunity to fulfil rising domestic and worldwide organic food demand. As a result, farmers are using fungicides to protect their crops from various fungal infestations to minimize crop losses and increase overall crop yield.

Fungicide Market

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=356

With the rise in global pesticide consumption and the increase in foreign direct investments in agricultural activities, the trend of investing in R&D activities to sustainable agriculture techniques has significantly boosted the use of various fungicides in the agriculture industry. The major crop type on which the maximum fungicides application is carried out is cereals and grains with the mode of application being spraying and seed treatment.

Key players focusing on developing fungicidal mixture products in Brazil

Brazil (the worlds fifth largest country by area and population) is also one of the few countries with the potential to significantly increase agricultural area and yields. It has transformed itself from a tropical agricultural product exporter (of coffee, sugar, and cacao in the 1960s and 1970s) to a major global supplier of soybeans, soybean products, corn, cotton, sugar, coffee, orange juice, meat, and ethanol since the early twenty-first century. Manufacturers of fungicides have switched their primary active ingredients at least twice due to the prevalence of Asian rust spores. Most products in Brazil use carboxamide to control the disease, but crops have witnessed increased resistance to carboxamides. A new agreement was made in 2017 between Sumitomo Chemical Company and Bayer for developing fungicidal mixture products that help control soybean fungal diseases in Brazil. The Summit Agro in Paraguay introduced a new Planity fungicide in 2022, to protect soybean from the soybean rust caused by the Phakopsora pachyrhizi fungus and other end-of-cycle pathogens.

High demand for seed coating in commercial agricultural operations is driving the market

Because several fungi pathogens are carried on or in the seed, seed treatment with fungicides is critical. Furthermore, once the seed is sown, it is vulnerable to attack by many common soil-borne pathogens, which can result in seed rot, seeding mortality, or disease production later. Seed treatment is the most effective and cost-effective method of disease control, and is promoted as a standard practice in crop protection against soil and seed-borne pathogens. Seed treatment is therapeutic when pathogens infect embryos, cotyledons, or endosperms under the seed coat, as seeds have protective seed surfaces which prevent soil-borne pathogens from entering the seedling.

Some active ingredients used for seed treatment fungicides are metalaxyl, mefenoxam, captan, carboxin and thiram, carboxin and captan, fludioxonil and mefenoxam and thiram, applied to provide protection against pythium, phytophthora, rhizoctonia, Phomopsis, and fusarium.

Curative disease control, internal protection and translocation to hidden plant parts is showing an efficacy thus driving the market towards systemic fungicide

Systemic products, often referred to as penetrants, are absorbed by the plant and can spread to other areas of the plant from the location of application. They are locally systemic (only move a short distance away from the spray droplet) others are more mobile in the plant (systemic) and can move to the tip of the leaf or shoot and still others are highly systemic and can move throughout the plant, including roots. Most systemic fungicides are highly effective against their target pathogens, whether locally or systemically applied. However, systemic products have a longer post infection activity because they penetrate deeper into plant tissues and can catch advanced infection. Locally systemic fungicides have a translaminar mode of action. This implies that they move through the leaf from one side to another or across the leaf. By this form of fungicide, only new shoots are protected for a short time.

Systemic fungicides protect the plants internally as they are absorbed by the plants unlike contact fungicide which protects plants externally and can only eliminate the activities of pathogens. System fungicides can prevent some fungi infection when applied and absorbed by the roots too. These pose lesser threats to the environment as they are biodegradable by plants. Using a low volume of this fungicide results in maximum impact in fungi eradication and control. The prominent benefit of systemic fungicide is its translocation to other parts of the plant when applied on one surface is beneficial in shielding the crop from fungal attacks.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=356

Asia-Pacific is hold the largest share in the market during the forecast period

The crops grown in Asian countries are rice, wheat, millet, pulses, cotton, sugarcane, tea, oilseeds and rubber in India, China, Pakistan, Indonesia, Malaysia, Iraq, Russia, Bangladesh and Myanmar. Sugarcane, yam, taro, Noni, cava, coconut, cassava, bananas and betelnuts in Pacific countries

China produces rice, wheat, potatoes, tomato, sorghum, peanuts, tea, millets, barley, cotton, oilseed, corn and soybean. According to FAOSTAT, in 2021, corn was produced 272 MMT (million metric tonnes), rice was produced 212 MMT (million metric tonnes) and wheat at 136 MMT (million metric tonnes).

BASF has launched Melyra fungicide in China with a F500 active ingredient. This provides farmers with new solutions to harvest crops. This fungicide is based on Revysol fungicide in China that has an excellent effect on biological performance against the pathogens which are hard to control in speciality and row crops while meeting the high regulatory standards. Farmers trust Revysol containing products which treat a broad spectrum of diseases in a variety of crops safely and sustainability. This can be used in various crops such as rice, pomegranate, corn, grapes and cereals. In rice they protect against sheath blight and blast, Septoria leaf blotch in cereals, gray leaf spot, northern corn blight and phaeosphaeria leaf spots and rusts in corn plant.

Sumitomo Chemical Company Limited has introduced in Japan KANAME Flowable, a new horticultural fungicide containing INDIFLIN (inpyrfluxam). One of Sumitomo Chemicals pipeline products, INDIFLIN, is a brand-new fungicide active component that the company expects to finish registering in major markets by the year 2020. (B2020 initiative). It belongs to a group of fungicides called succinate dehydrogenase inhibitors (SDHI), which prevent pathogenic fungus from producing energy. In both internal and external tests, it has demonstrated remarkable efficacy against a wide range of plant diseases due to its excellent fungicidal action, strong leaf penetration, and systemic action. Thus, it is anticipated that INDIFLIN will provide fresh approaches to managing widespread illnesses that threaten important crops like soybeans and grains.

Related Reports:

Agrochemicals Market Mergers & Acquisitions – Global Trends (2000-2016) and Outlook-by Deal Type (Acquisitions, Agreements, Divestitures, Mergers & Others), by Segment (Crop-Protection Chemicals, Herbicides, Fungicides, Insecticides & Others), and by Region

Seed Treatment Fungicides Market by Type (Chemical (Benzimidazoles, Dithiocarbamates), Biological), Crop Type (Cereals & Grains, Oilseeds & Pulses), Application Technique (Coating, Dressing, Pelleting), Form, and Region – Global Forecast to 2022

Biopesticides Market by Type (Bioinsecticides, Biofungicides, Bionematicides, and Bioherbicides), Source (Microbials, Biochemicals, and Beneficial Insects), Mode of Application, Formulation (Dry, Liquid), Crop Type and Region – Global Forecast to 2027

Crop Protection Chemicals Market by Type (Herbicides, Insecticides, Fungicides & Bactericides), Origin (Synthetic, Biopesticides), Form (Liquid, Solid), Mode of Application (Foliar, Seed Treatment, Soil Treatment), Crop Type and Region – Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/fungicides-356.html

Related Articles