Increasing Demand for Food Security by the Growing Population Driving Fungicides Market

The Fungicides Market is estimated to be valued at USD 18.7 billion in 2019 and is projected to reach a value of USD 24.5 billion by 2025, growing at a CAGR of 4.6% during the forecast period. Factors such as the increase in demand for food security by the growing population and advancements in farming practices & techniques are projected to drive the growth of the fungicides market.   

Download PDF Brochure

The growth in population and the consequent rise in demand for food materials have led to an increase in the need for crop protection chemicals, thereby increasing the demand for innovative fungicides solutions across regions. However, the demand for fungicides in various regions is projected to remain high due to the increasing number of crop types grown in abundance. 

For instance, the US is a leading producer of cereals and grains, while Europe is known for its wide-scale production of fruits and vegetables. The cereals & grains segment accounted for the largest market share in 2018, followed by the fruits & vegetable segment.    


The increasing agricultural practices and the requirement of high-quality agricultural produce are factors that are projected to drive the fungicides market growth in this region. Major crops produced in Asia include rice, sugar beet, fruits & vegetables, cereals, and grains. The region consumes 90% of the global rice produced. According to the FAO, the demand for rice is projected to increase by 2025, as in the majority of the Asian countries, rice consumption is expected to increase faster than the population growth. In addition, due to population growth, the demand for rice is projected to increase in the coming decades.   

Request for Customization

Key players in this market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), and UPL Ltd. (India). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities and strong distribution networks across these regions.

 

Comments

Post a Comment

Popular posts from this blog

Global Bottled Water Processing Market: Key Trends and Insights by 2028

A recent research report by MarketsandMarkets titled " Bottled Water Processing Market " provides valuable insights into the dynamics of the bottled water industry. The study covers both the bottled water market and the bottled water equipment market, forecasting significant growth in both segments. Here are key highlights from the report: Download PDF Brochure Bottled Water Market Overview: The bottled water market is projected to reach USD 457.1 billion by 2028, exhibiting a CAGR of 8.0% from 2023. This growth is attributed to the rising demand in emerging markets where limited access to safe drinking water is a challenge. The global population increase also contributes to the surge in demand for clean and safe drinking water, emphasizing the pivotal role of bottled water processing in providing accessible hydration solutions. Product Type Insights: The report highlights that still water dominates the market, accounting for the largest share in 2022 in terms of value. This
Read more

Growth Trends and Opportunities in the Global Edible Oils Market

The global edible oils industry is on track to reach USD 268.9 billion by 2027, marking a significant increase from USD 212.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% between 2022 and 2027. This growth is primarily fueled by the rising global population, coupled with shifts in lifestyle preferences towards processed foods, where edible oils play a crucial role as primary ingredients. Furthermore, ongoing advancements in food processing, including the development of novel products such as confectionery, bakery items, ready-to-eat foods, and fast foods, are driving substantial demand for edible oils. Download PDF Brochure      Soybean oils emerge as the fastest-growing segment in the global edible oils market , anticipated to experience a robust CAGR of 5.4% during the forecast period. With concerns regarding food costs and climate change's impact on food supplies, soy products, particularly soybean oil, are gaining traction. Soybean oil's neu
Read more

Transformative Growth Projected for Global Seed Coating Market: A Comprehensive Overview

In 2023, the global seed coating market , valued at USD 2.0 billion, is positioned for remarkable expansion, anticipated to reach USD 3.1 billion by 2028 with a robust CAGR of 8.5%, as reported by MarketsandMarkets. This agri-tech innovation is reshaping agriculture by enhancing seed germination, seedling vigor, and overall crop yields. Download PDF Brochure Advancements in Liquid Seed Coatings: A Cornerstone of Modern Agriculture Liquid seed coatings, applied across diverse crops such as corn, soybeans, wheat, rice, vegetables, and flowers, are indispensable tools in modern agriculture. Croda International Plc's FS formulations are gaining prominence due to their concentrated nature, water-based composition, and enhanced safety during application, marking a revolutionary shift in seed treatment practices. Cereal and Grains Segment Driving Adoption The cereal and grains segment, emphasized by the Food and Agriculture Organization (FAO), plays a pivotal role in the increasing adopti
Read more