Fungicides Market Overlook:
Fungicides Market size was USD 22.5 billion in 2024 and is estimated to reach USD 62.9 billion by the end of 2037, registering a CAGR of 8.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of fungicides is assessed at USD 24.1 billion.
The main factor driving growth in the global fungicides market is the increasing agricultural production aimed at achieving food security objectives. According to the USDA and FAO, the demand for global cereals and grains is expected to increase by approximately 13% from 2025 to 2030 to sustain around 8.6 billion individuals by 2030. Government estimates indicate that crop yields suffer a loss of 15–25% each year due to fungal diseases, highlighting the critical role of fungicides. In the U.S., data from the BLS shows that the Producer Price Index for pesticide and agricultural chemical manufacturing stood at 138.5 in April 2025, reflecting a year-over-year increase of 0.7%, which confirms the consistent pricing trends that are bolstering market growth.
The global supply chain for fungicides is fundamentally based on chemical intermediates derived from petroleum and citrus extraction. The US pesticide exports reached USD 4.3 billion in 2024, while imports stood at USD 3.6 billion. The manufacturing capacity has seen growth: China and India have increased the installation of pesticide plants by approximately 8% per year from 2022 to 2024, facilitating assembly-line operations close to export hubs. According to BLS pricing, the PPI for agricultural and commercial pesticides was recorded at 139.2 in March 2025. The domestic CPI for agricultural chemicals in the US experienced a slight increase, reaching an index level of around 196 in December 2024, indicating stable pricing for end-users. Additionally, the USDA NIFA has reported that RDD investment in fungicide innovation amounted to USD 122 million in 2023, further strengthening the resilience of the supply chain.
