The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

**1. Thriving Growth in the Fungicides Market

The fungicides market has witnessed robust growth in recent years, expanding from $22.83 billion in 2023 to an estimated $24.57 billion in 2024, reflecting a commendable compound annual growth rate (CAGR) of 7.6%. This upward trajectory in the historic period is attributed to factors like crop protection, crop expansion, climate conditions, and the imperative need for pesticide resistance management.

**2. Anticipating Continued Prosperity

The outlook for the fungicides market remains promising, with expectations to burgeon further to $33.27 billion in 2028, showcasing a strong CAGR of 7.9%. The growth in the forecast period is fueled by various factors, including global population growth, the impact of climate change, the adoption of integrated pest management (IPM), and the rise of biofungicides and biotechnology. The market is poised to embrace major trends such as sustainable fungicides, precision application technologies, biological disease control, and fungicide resistance management.

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**3. Plant Disease Surge and Market Dynamics

The surge in plant diseases is set to act as a catalyst, propelling the fungicide market into a phase of accelerated growth. Plant diseases, impacting the normal functioning and growth of plants, pose a significant threat to global food yield. Fungicides play a pivotal role in disease prevention, seed treatment, post-harvest protection, and enhancing agricultural productivity. Notably, up to 40% of the world’s food yield is reportedly lost to pests every year, amounting to over $220 billion in losses to plant diseases and an additional $70 billion to invasive insects.

• Example: According to the Food and Agriculture Organization, up to 40% of the world’s food yield is reportedly lost to pests every year.

**4. Key Players in the Fungicides Market

Major companies steering the fungicides market include industry giants like American Vanguard Corporation, BASF SE, Bayer AG, Dow AgroSciences LLC, and Syngenta International AG. These influential entities contribute significantly to shaping market dynamics and innovation.

**5. Corteva Inc. Introduces Zorvec Encantia

Industry leaders are channeling their efforts into innovative product development, exemplified by Corteva Inc.’s launch of Zorvec Encantia, a breakthrough in potato fungicides. This new generation fungicide, designed specifically for potatoes, boasts a unique mode of action, consistency, and effectiveness, offering high protection for new plant growth with low toxicity and a positive environmental profile.

• Example: Corteva Inc. launched the Zorvec Encantia Novel Generation of Fungicide for Potatoes.

**6. UPL Limited Expands Portfolio with OptiCHOS Acquisition

In a strategic move, UPL Limited, a prominent Indian chemical industry company, acquired OptiCHOS, a naturally-derived fungicide, from BioCHOS. This acquisition aligns with UPL’s expansion in the natural plant protection (NPP) business division, reflecting the industry’s dedication to exploring and incorporating innovative solutions.

• Example: UPL Limited acquired OptiCHOS, a naturally-derived fungicide, from BioCHOS.

**7. Market Segmentation Insights

The fungicides market is intricately segmented based on types such as synthetic fungicides and bio-fungicides, active ingredients including dithiocarbamates, benzimidazoles, chloronitriles, and more, treatments spanning seed treatment, soil treatment, foliar spray, chemigation, and post-harvest, and applications encompassing cereals and grains, oilseeds and pulses, fruits and vegetables, and other applications.

**8. Asia-Pacific Dominates Market Landscape

As of 2023, Asia-Pacific emerges as the powerhouse, dominating the fungicides market. The region’s strategic importance is underscored by its significant role in shaping market trends, propelled by dynamic agricultural activities and growing demand for crop protection.

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The Fungicides Global Market Report 2024  provides an overview of the fungicides market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The fungicides market forecast analyzes fungicides market size, fungicides market share, leading competitor and their market positions.

The Table Of Content For The Fungicides Market Include:
1. Fungicides Market Executive Summary
2. Fungicides Market Segments
3. Fungicides Market Size And Fungicides Market Growth Rate
4. Key Fungicides Market Trends
5. Major Fungicides Market Drivers
……
25. Key Mergers And Acquisitions In The Fungicides Market
26. Top Fungicides Companies
27. Fungicides Market Opportunities And Strategies
28. Fungicides Market, Conclusions And Recommendations
29. Appendix

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