The Latest Fungicides Industry Statistics Explained
The global fungicides market size was valued at USD 13.18 billion in 2019.
The statistic indicating that the global fungicides market size was valued at USD 13.18 billion in 2019 represents the total monetary value of fungicides sold worldwide during that year. This measure serves as an important indicator of the scale and significance of the fungicides industry in addressing fungal diseases in agriculture, horticulture, and other fields. The market size reflects the demand for fungicides, highlighting their essential role in protecting crops and ensuring agricultural productivity globally. This statistic provides valuable insights for stakeholders in the agricultural sector, including farmers, manufacturers, policymakers, and researchers, to understand the economic impact and trends within the fungicides market.
The fungicide market is projected to grow by 5.4% annually to reach $19.5 billion by 2026.
The statistic indicates that the fungicide market is expected to experience a steady annual growth rate of 5.4% over the forecast period, leading to a market value of $19.5 billion by the year 2026. This projection suggests that there is a growing demand for fungicides, likely driven by factors such as increasing awareness about the importance of crop protection, rising agricultural productivity, and the need to combat fungal diseases in crops. The consistent growth rate implies a stable and expanding market for fungicides, presenting opportunities for companies operating in this sector to capitalize on the rising demand and potentially expand their market share in the coming years.
The Asia-Pacific region is expected to be the fastest-growing market for fungicides during the forecast period.
This statistic indicates that the Asia-Pacific region is projected to experience the highest rate of growth in the market for fungicides compared to other regions over a specific period in the future. This growth is likely driven by factors such as increasing demand for agricultural products, rising awareness about the importance of crop protection, and the adoption of modern farming practices. The high growth potential in the Asia-Pacific region presents opportunities for fungicide manufacturers and suppliers to capitalize on this trend by expanding their presence, developing innovative products tailored to the region’s needs, and forming strategic partnerships to enhance market penetration and profitability.
Synthetic fungicides held the largest share in the global market, accounting for over 79% in 2019.
The statistic implies that synthetic fungicides dominated the global market in 2019, capturing more than three-quarters of the market share. This suggests that synthetic fungicides were the most commonly used type of fungicides among farmers and agricultural producers worldwide during that year. The high market share indicates a strong preference for synthetic fungicides over other alternatives, which could be attributed to factors such as effectiveness, availability, cost, or familiarity. This information is crucial for understanding the market dynamics and trends within the agricultural sector, as it highlights the significant role that synthetic fungicides played in crop protection strategies in 2019.
China is the largest consumer of fungicides in the world.
The statement “China is the largest consumer of fungicides in the world” indicates that China holds the top position globally in terms of the amount of fungicides used within its agricultural sector. Fungicides are chemical substances used to control and prevent the growth of fungi, which can harm crops and lead to significant losses in agricultural productivity. This statistic highlights the importance of fungicide usage in China’s agriculture to protect crop yields and ensure food security. It also reflects the scale of agricultural production in China, indicating the country’s significant reliance on fungicides to mitigate fungal diseases and maintain a stable food supply for its population.
Bio-based fungicides are expected to grow at a CAGR of 4.8% from 2021 to 2028.
This statistic indicates that the market for bio-based fungicides is projected to increase at a Compound Annual Growth Rate (CAGR) of 4.8% from the year 2021 to 2028. This growth rate suggests a steady rise in demand for bio-based fungicides over the forecasted period. The CAGR represents the average annual growth rate of the market, providing insight into the expected expansion of the industry. The forecasted growth rate of 4.8% suggests a positive outlook for the bio-based fungicides market, indicating increasing adoption of environmentally-friendly and sustainable fungicidal products in agriculture and related industries.
In 2019, the foliar spray application method dominated the fungicides market with a share of 57.9%.
In 2019, the foliar spray application method was the most widely used method for applying fungicides, capturing a significant market share of 57.9%. This statistic indicates that over half of the fungicides used that year were applied using the foliar spray technique. This method involves spraying the fungicide directly onto the leaves of plants to control fungal diseases. The dominance of foliar spray application suggests that it is a popular and effective way of delivering fungicides to crops, potentially due to its ease of application and ability to cover a large surface area. The high market share also implies a level of trust and confidence in this method among farmers and agricultural stakeholders in effectively managing fungal pathogens in crops.
India’s fungicides market is forecasted to grow at a CAGR of 12.5% from 2021-2026.
This statistic indicates that the fungicides market in India is projected to experience a Compound Annual Growth Rate (CAGR) of 12.5% over the period from 2021 to 2026. This implies that the market is expected to consistently expand by an average of 12.5% each year during this five-year period. The forecasted growth suggests increasing demand for fungicides in India, likely driven by factors such as the need to protect crops from fungal diseases, advancements in agricultural practices, and rising awareness about the benefits of fungicide use. This growth projection could present opportunities for businesses operating in the fungicides sector to capitalize on the expanding market and potentially increase their market share and profitability over the forecasted period.
The North American fungicides market is projected to reach $2.9 billion by 2025.
The statistic indicates that the North American fungicides market is expected to grow significantly and reach a value of $2.9 billion by the year 2025. This projection suggests a growing demand for fungicides in North America over the next few years, likely driven by factors such as increasing concerns about crop diseases and the need for effective solutions to protect agricultural yields. The projected market value highlights the economic importance of fungicides in the region and indicates potential opportunities for businesses operating in the fungicides industry to expand their market presence and increase their revenue.
In 2018, cereals & grains accounted for the largest share of 33.6% in terms of fungicide usage.
The statistic “In 2018, cereals & grains accounted for the largest share of 33.6% in terms of fungicide usage” indicates that out of all the different crop types treated with fungicides in 2018, cereals & grains accounted for the largest proportion. This suggests that fungal diseases are more prevalent and/or pose a greater threat to cereals & grains compared to other agricultural crops. The high usage of fungicides in this category could be driven by various factors such as the susceptibility of cereals & grains to fungal infections, the economic importance of these crops, and the need to maintain high yields and quality standards. Monitoring and managing fungal diseases in cereals & grains is crucial for ensuring food security and maintaining agricultural productivity.
The triazole fungicide segment held the largest market share of 26.5% in 2019.
The statistic indicates that within the fungicide market in 2019, the triazole fungicide segment accounted for the highest proportion of market share at 26.5%. This implies that of all the different types of fungicides available in the market during that year, triazole fungicides were the most widely used or sold. This could be due to various factors such as effectiveness, ease of use, cost, or other qualities that make triazole fungicides preferable to other types. Understanding this market share can inform industry stakeholders about trends in fungicide usage and help guide decisions related to product development, marketing strategies, and investment opportunities within the fungicide sector.
In Latin America, the fungicides market is expected to grow at a CAGR of 4.4% from 2020-2025.
This statistic indicates that the market for fungicides in Latin America is projected to experience a Compound Annual Growth Rate (CAGR) of 4.4% between the years 2020 and 2025. This suggests that the use and demand for fungicides in the region are expected to increase steadily over the specified five-year period. The growth rate gives insight into the potential expansion of the market and reflects factors such as increasing awareness of crop protection, expanding agricultural activities, and the need for effective disease management strategies among farmers. This projection serves as a valuable indicator for businesses and investors operating in the agricultural sector in Latin America, highlighting opportunities for growth and market expansion in the fungicides industry.
In 2019, systemic fungicides accounted for nearly 65% of the market in terms of revenue.
The statistic that systemic fungicides accounted for nearly 65% of the market in terms of revenue in 2019 indicates that a majority of the revenue generated within the fungicide market was attributed to systemic fungicides specifically. Systemic fungicides are a type of pesticide that is absorbed by plants and then distributed throughout the plant tissues, offering long-lasting protection against fungal diseases. The fact that systemic fungicides dominated the market suggests that they were the preferred choice for farmers and agricultural companies due to their effectiveness and possibly other factors such as ease of use or broader spectrum of protection. This statistic points towards the significant role that systemic fungicides played in the agricultural sector in 2019 and underscores their importance in plant disease management and crop protection strategies.
The fruit and vegetable crop type segment is projected to be the fastest-growing in the fungicide market from 2021 to 2026.
This statistic indicates that among all the different crop types, the fruit and vegetable segment is expected to experience the highest rate of growth in the market for fungicides over the period from 2021 to 2026. This suggests that there will likely be increased demand for fungicides specifically targeted for use on fruit and vegetable crops during this time frame. Factors driving this growth could include expanding global agriculture markets, rising consumer demand for fresh produce, and escalating concerns over crop diseases and pests affecting fruit and vegetable crops. As a result, companies producing fungicides may focus their attention and resources towards developing and marketing products tailored for the needs of fruit and vegetable growers to capitalize on this projected growth in the market segment.
In 2020, Bayer was the leading fungicides market player in the world.
The statistic “In 2020, Bayer was the leading fungicides market player in the world” indicates that Bayer, a multinational pharmaceutical and life sciences company, held the highest market share in the global fungicides market compared to its competitors during that year. This suggests that Bayer’s fungicide products were the most widely used and/or generated the highest revenue in the market in 2020. Being the leading player in the fungicides market can imply various factors such as the effectiveness of Bayer’s products, its brand reputation, marketing strategies, distribution networks, and research and development capabilities. This statistic highlights Bayer’s significant presence and influence in the global fungicides industry in 2020.
The global market sales of strobilurin fungicides was estimated to be roughly $3.3 billion in 2018.
The statistic indicates that the total sales revenue generated from strobilurin fungicides in the global market for the year 2018 was approximately $3.3 billion. Strobilurin fungicides are a class of agricultural chemicals widely used in crop protection to prevent fungal diseases. This figure highlights the significant economic value and demand for strobilurin fungicides within the agricultural sector worldwide. The estimated sales value of $3.3 billion suggests that these fungicides play a crucial role in modern agricultural practices, emphasizing their importance in maintaining crop health and productivity on a global scale.
In 2020, Canada’s total fungicide utilization was 4,314 metric tons.
The statistic that Canada’s total fungicide utilization in 2020 was 4,314 metric tons indicates the amount of fungicides that were applied in the country during that year to protect crops and plants from fungal diseases. Fungicides are chemical substances used in agriculture to manage and control fungal infections that can damage crops and reduce yields. The total metric tons of fungicide utilization serves as a measure of the scale of efforts and resources dedicated to protecting Canada’s agricultural production from fungal diseases in 2020. This statistic provides insight into the intensity of agricultural practices and the importance placed on maintaining crop health and productivity in Canada during that year.
In the USA, fungicides usage on corn crops had reached about 21.8 percent by 2018.
The statistic indicates that in the United States, approximately 21.8 percent of fungicides were used on corn crops by the year 2018. Fungicides are chemical substances used to control or prevent fungal diseases in plants, including corn crops. The data suggests that a significant portion of fungicides in the country are being applied to corn fields, likely to protect the valuable crop from fungal pathogens that can threaten yield and quality. This statistic highlights the importance of managing fungal diseases in corn agriculture and the reliance on fungicides as a key tool in crop protection strategies in the United States.
Mancozeb is one of the commonly used active ingredients in fungicides which generates over $1 Billion sales annually.
The statistic stating that Mancozeb is one of the commonly used active ingredients in fungicides that generates over $1 billion in sales annually highlights the significant market presence and economic impact of this particular fungicide. The high sales figure indicates widespread adoption and demand for Mancozeb-containing products in the agricultural industry. Farmers and agricultural professionals rely on Mancozeb for its effectiveness in controlling fungal diseases, resulting in substantial revenue generation for companies manufacturing and selling these fungicides. The statistic underscores the importance of Mancozeb as a key player in the fungicide market and its crucial role in crop protection and agricultural productivity.
Conclusion
From the comprehensive analysis of Fungicides Industry Statistics, it is evident that the market is experiencing steady growth with increasing demand for crop protection solutions. The data points towards a promising future for the fungicides industry, highlighting opportunities for innovation and market expansion. As companies strive to meet the evolving needs of the agricultural sector, staying informed about industry trends and statistics will be crucial for making informed business decisions and staying ahead of the competition.
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