Global Fungicides Market Trends, Forecast Report 2025-2037
Fungicides Market size is predicted to rise from USD 22.34 billion to USD 62.78 billion, registering a CAGR of over 8.2% during the forecast timeline, from 2025 through 2037. In the year 2025, the industry size of fungicides is assessed at USD 23.82 billion.
The market growth is ascribed to increasing prevalence of plant pests, and disease outbreak in crops across the globe. As per the Food and Agricultural Organization of the United Nations (FAO), pests destroy between 20 and 40% of global crop production each year. Thus, plant diseases cost the global economy over USD 220 billion each year, and invasive insects approximately USD 70 billion.
Fungicides are defined as a type of biological organism that controls fungal disease by killing the fungi, and fungal infections. It is widely used for the prevention of fungal disease that affects plants. Fungicides help to enhance the quality of the crop. They aid in crop protection in order to retain production and quality. They have a broad range of applications in agriculture, horticulture, and floriculture for improving the crop yield. It is also used in animals to prevent them from fungal infection. For instance, fungicide use has skyrocketed in the recent decade. Nearly 450 thousand tons of fungicides are applied globally, accounting for 18% of total application of pesticides.
Fungicides Sector: Growth Drivers and Challenges
Growth Drivers
- Increased Emphasis on High-Value Crops Yield - High value crops are typically non-staple agricultural products that offer farmers higher net returns per hectare. These crops include fruits, vegetables, flowers, ornamentals, and spices. Growing high-value crops has a considerable impact on agricultural income, consumer spending, and poverty reduction. Therefore, increasing emphasis on the cultivation of high-value crops is fueling up the fungicides market over the forecast period. For instance, the worldwide tomato crop is expected to increase from 37 to 39.8 million metric tons by 2022.
- Worldwide Increasing Consumption of Cereals – According to a report published by the Food and Agricultural Organization of the United Nations, in 2022-23, global cereal consumption is expected to be nearly 2 784 million tons.
- Rising Food Insecurity Rate – According to the United Nations, as per current estimates, approximately 690 million people, or 8.9% of the world's population, are starving, that denotes an increase of 10 million in one year and nearly 60 million in five years.
- Worldwide Growing Adoption of Organic Farming – For instance, at the end of 2018, there were nearly 70 million hectares of land farmed organically, an increase of 3 million hectares or over 4% from the previous year. Additionally, with 36 million hectares, Australia has the most land that is organically farmed till 2020, followed by Argentina 3.5 million hectares, and China 3 million hectares.
- Escalating Global Population - According to United Nations figures, the global population is predicted to reach 8.5 billion in 2030 and 9.7 billion in 2050.
Challenges
- Rising Environmental and Health Concerns
- Risks of Developing Resistance Against the Fungicides
- Higher Risks of Effecting Beneficial Microorganisms Presents in Crops
Fungicides Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
8.2% |
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Base Year Market Size (2024) |
USD 22.34 billion |
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Forecast Year Market Size (2037) |
USD 62.78 billionn |
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Regional Scope |
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Fungicides Segmentation
Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables)
The fruits & vegetables segment is set to garner largest share of the fungicides market during the forecast timeline, impelled by rising prevalence of fungal disorders in fruits and vegetables plants across the globe, and majorly increasing use of fungicides to treat fruits and vegetables plants. For instance, strawberries suffer substantial damage from a variety of pests and illnesses. Black spot (Colletotricum acutatum), powdery mildew (Podosphaera aphanis), grey mold, white leaf spot, leaf scrotch, and other diseases that affect the yield are the most common in strawberries around the world. As of these diseases, in Ukraine, the yield of strawberry was reduced by 13 to 90% between 2020-2021.
Our in-depth analysis of the global fungicides market includes the following segments:
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By Type |
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By Form |
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By Crop Type |
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By Application |
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Customize this ReportFungicides Industry - Regional Synopsis
The market in Asia Pacific is expected to hold largest share by the end of 2037, backed by increasing major crop production including, rice, vegetables and fruits, cereals. For instance, China had the biggest rice paddy production in the Asia-Pacific region in 2020, with over 210 million tons produced. Rising demand for high-quality food products, growing demand for food, increasing population, and escalating disposable income in the region are some other major factors fueling the market growth.
Companies Dominating the Fungicides Landscape
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Syngenta Crop Protection AG
- Sumitomo Chemical Co., Ltd.
- Nufarm Limited
- Adama Agricultural Solutions Ltd.
- FMC Corporation
- Corteva Agriscience
- UPL Limited
- Isagro SpA
- BioWorks, Inc.
In the News
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BASF SE launched Pillar SC Intrinsic brand fungicide that offers broad-spectrum control of 26 cool- and warm-season turf diseases, including brown patch, dollar spot, leaf spots, and large patches. This is BASF's first fungicide developed specifically for lawn care.
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Sumitomo Chemical Co., Ltd. launched KANAME Flowable, in Japan. The new fungicide INDIFLIN (inpyrfluxam) is indicated primarily for the treatment of diseases in vegetables and fruit trees.
Author Credits: Rajrani Baghel
- Report ID: 428
- Published Date: Jan 17, 2025
- Report Format: PDF, PPT
