Portland, OR — 11/09/2017 — Fungicides Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $16.2 billion by 2020, registering a CAGR of 5.4% during the period 2014-202.High growth segments such as Triazole and Strobilurin are expected to contribute substantially to the growth of the overall global fungicide market.
Triazole, with its preventive and post infection curative property has higher consumption as compared to other fungicides available globally. Strobilurin is another fungicide which has wide adoption due to its translaminar capability and ability to treat broad array of plant pathogens. On the other side, interest for bio based fungicides is also growing among farmers globally due to growing concerns over adverse effect of synthetic fungicides on environment and human health.
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The global fungicides market is segmented based on type, crop type and geography. According to type, the market is categorized into synthetic fungicides and bio fungicides. The synthetic fungicides segment is further classified into dithiocarbamates, benzimidazoles, chloronitriles, triazoles, phenylamides, strobilurins, and others. According to crop type, the market is segregated into cereal & grains, oilseeds & pulses, fruits & vegetables, and others. The use of fungicides is highest in fruits and vegetables. Among synthetic fungicides, strobilurins holds a substantial market share within the global fungicides market in terms of value, followed by triazoles.
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Rapid rising demand for fruits and vegetables, led by changing dietary patterns, is expected to drive demand for fungicides over the forecast period. Moreover, escalating food security concerns along with the rapidly declining arable land are forecast to boost growth the global fungicides market in the near future. Additionally, rising demand for fungicides in non-crop applications such as ornamental plants and turf is projected to fuel the market growth throughout the forecast period.
Fungicides Market Key Segmentation
By Crop Type
-Cereals & Grains
-Oilseeds & Pulses
-Fruits & Vegetables
-Others (Ornamental Plants, Grass, etc.)
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