Post-harvest segment is projected to be the fastest-growing segment in the fungicides market by 2025

Posted on 2021-11-22 by MarketsandMarkets in Agriculture // 0 Comments

The global fungicides market is estimated to be valued at USD 18.7 billion in 2019 and is projected to reach USD 24.5 billion by 2025, recording a CAGR of 4.6%. The growth of the fungicides market driven by the changing climatic conditions and the rising demand for high-value crops, particularly for fruits & vegetables. The development of biofungicides with least or no effect on the environment provides open opportunities for further growth of the fungicides market.

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By mode of application, the post-harvest segment is projected to be the fastest-growing segment in the fungicides market during the forecast period.

Fungal infections contribute significantly to post-harvest losses in crops. The method is designed to reduce the amount of fungicides used and problems related to wastewater disposal. Fruits & vegetables are largely damaged after harvest by fungi and bacteria. Many chemicals are used as a spray or dip. Post-harvest fungicides are most frequently applied as aqueous suspensions.

Key players in the fungicides market include BASF SE (Germany), Bayer AG (Germany), Corteva, Inc. (US), Syngenta AG (Switzerland), FMC Corporation (US), UPL Ltd. (India), and ADAMA Agricultural Solutions Ltd. (Israel).

Product innovation, expansions & investments, acquisitions, agreements, collaborations, approvals, and partnerships were some of the core strengths of the leading players in the fungicides market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.

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Some of the other leading players in the fungicides market include Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Isagro S.p.A (Italy), Nufarm (Australia), Nissan Chemical Corporation (Japan), Marrone Bio Innovations, Inc. (US), Koppert Biological Systems (Netherlands), Bioworks, Inc. (US), STK Bio-ag Technologies (Israel), Verdesian Life Sciences (US), Seipasa S.A. (Spain), Ishihara Sangyo Kaisha, Ltd. (Japan), and Nutrichem (China).

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