TMR_Research_Reports_2017 Fungicides Market To Reach US$16.30 bn in 2023 | Page 2

Fungicides Market
REPORT DESCRIPTION
Fungicides Market - Global Industry Analysis Size Share Growth
Trends and Forecast 2015 – 2023
The majority of players in the global fungicides market are pouring sizeable funds into research and
development of highly efficient products that conform to government regulations. The market is highly
consolidated in nature and is dominated by international players owing to their strong capital muscle and
advanced R&D infrastructure, observes Transparency Market Research (TMR). BASF SE, Syngenta, E.I. du
Pont de Nemours and Company, Bayer CropScience, Monsanto Company, Dow AgroSciences LLC, and
Cheminova A/S are among the leading players in the global fungicides market. “These players are expanding
their geographical outreach by focusing towards collaborations, new product launches, and acquisitions,” says
TMR’s lead analyst.
Demand for Mancozeb to Remain High through 2023
On the basis of product, mancozeb will continue to be the most prominent segment in terms of volume until
2023. It is widely acknowledged for its non-selectivity, low price, and high effectiveness. Moreover, the rate of
resistance to mancozeb is lesser than other non-selective fungicides. Owing to these factors, the segment will
also be at the forefront in terms of CAGR during the forecast period.
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Geographically, Asia Pacific will continue to account for the lion’s share in the overall market volume until
2023. The growth of the region can be attributed to the rapidly growing population and increasing awareness
among farmers. The Middle East and Africa is anticipated to register an impressive CAGR during the same
period.
Increasing Government Initiatives to Spread Awareness Regarding Benefits of Fungicides to Boost
Uptake
The ever-rising global demand for food has left much of the onus on agricultural activities. It has become
imperative to address food security concerns to meet the daily requirements of the rapidly growing population.
This is translating into the greater demand for yield-enhancing agricultural inputs, thereby providing a
significant boost to the global fungicides market. In addition, the limited availability of arable lands is creating a
dire need for maximum crop yield, thereby augmenting the demand for fungicide.
Transparency Market Research
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