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Fungicide Market Size

The fungicide market is projected to experience growth over the forecast period, driven by the increasing need to combat crop losses due to fungal diseases and concerns over global food security. The market's expansion is influenced by various factors, including the method of application, which varies based on the specific disease, crop type, and environmental conditions. Foliar application currently holds a significant portion of the market share due to its effectiveness in targeting foliar fungal diseases. Additionally, fungicide seed treatments play a vital role in protecting seeds from early-stage infections, contributing notably to the market's overall value. Regional variations in market size are observed, with South America and Europe showing substantial shares, influenced by climatic conditions that exacerbate fungal diseases.

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Market Size of fungicide Industry

Fungicide Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 17.51 Billion
svg icon Market Size (2029) USD 21.15 Billion
svg icon Largest Share by Application Mode Foliar
svg icon CAGR (2024 - 2029) 3.84 %
svg icon Largest Share by Region South America
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Fungicide Market Analysis

The Fungicide Market size is estimated at 17.51 billion USD in 2024, and is expected to reach 21.15 billion USD by 2029, growing at a CAGR of 3.84% during the forecast period (2024-2029).

17.51 Billion

Market Size in 2024 (USD)

21.15 Billion

Market Size in 2029 (USD)

4.66 %

CAGR (2017-2023)

3.84 %

CAGR (2024-2029)

Largest Segment by Application Mode

60.18 %

value share, Foliar, 2023

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Diseases such as Anthracnose, rust, blight, and powdery mildew, which affect the major food crops, can be effectively controlled using the fungicide application foliar method.

Largest Segment by Crop Type

46.84 %

value share, Grains & Cereals, 2023

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Grains and cereals are economically important for most countries globally as they are known to be staple foods, and their production is necessary to ensure food security.

Largest Segment By Region

30.33 %

value share, South America, 2023

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Factors driving South America's market for fungicides include decreasing arable land in the region, increasing population, and the need to improve crop yields.

Fastest-growing Segment by Country

5.91 %

Projected CAGR, France, 2024-2029

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Wheat is a major crop grown in the country, and various fungal diseases such as leaf blotch, leaf rust, yellow rust, powdery mildew, and Fusarium blight cause yield losses.

Leading Market Player

25.98 %

market share, Syngenta Group, 2022

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Syngenta Group developed Plinazolin technology that delivers a new standard of performance. It provides an effective solution in resistance management strategies.

Rising fungal diseases are driving the demand for fungicides in various application methods

  • Fungicides may be applied using a variety of methods, depending on the specific requirements and diseases. Diverse application methods play a crucial role in effectively applying fungicides across various agricultural conditions.
  • In 2022, foliar application dominated the fungicide segment, holding the largest market share of 60.1%. This method is highly preferred as it provides efficient protection against foliar fungal diseases by directly targeting the pathogens on the leaves. The foliar application facilitates swift penetration and absorption of fungicides into the plant tissues, ensuring their effective action against fungal pathogens.
  • Fungicide seed treatments play a crucial role in addressing fungal infections during the initial phases of plant growth. These treatments create a protective shield around seeds, effectively preventing various diseases like seed rots, seedling blights, damping off, and root rots. Notably, within the global fungicide market, fungicide seed treatments accounted for a significant market share of 14.1% in 2022. This highlights their substantial contribution to safeguarding plant health and promoting successful crop establishment.
  • The selection of the application mode is influenced by multiple factors, encompassing the particular disease being targeted, the type of crop, the stage of disease development, and the availability of equipment. The fungicide market is anticipated to expand, projecting an estimated CAGR of 3.8% during the forecast period spanning from 2023 to 2029. This growth reflects the ongoing evolution of strategies to combat plant diseases and enhance agricultural productivity.
Global Fungicide Market

Growth in the crop infestations by the fungal pathogens raise the fungicides adoption

  • Increasing crop losses due to fungal diseases and growing concerns over global food security raise the adoption of crop protection chemicals like fungicides. At the Global level, the farmers are losing 10-23% of their crops to fungal diseases. Adoption of intensive agricultural practices, monocultural practices, and changing climatic conditions like drought and heatwaves lead to the growth of various fungal diseases, which resulted in higher utilization of fungicides in agricultural production. The Global fungicide market accounted for 18.1% market share in the overall Global crop protection chemical market value with USD 16.37 billion in 2022 with a consumption volume of 1.9 million metric tons.
  • South American fungicide market value accounted for 30.3%, with a market value of USD 4.96 billion. The higher market share is attributed to the drought and heatwave effect on the crops, which led to the proliferation of fungal diseases and crop losses, resulting in higher utilization of fungicides in the region. In the same year, Brazil accounted for 59.4% of the South American fungicide market, with rice, wheat, and soybeans being the major crops grown and are highly susceptible to fungal diseases.
  • Europe's fungicide market value accounted for 28.4% of the Global fungicide market value in 2022. Grape late blight, early blight, powdery mildew, downy mildew, Fusarium wilting, Septoria, and bacterial blight are the common diseases attacking the major crops grown in the region. Spain, Russia, France, and Italy are the major fungicide-consuming countries with a market value share of 18.1%, 15.0%, 14.3%, and 12.5%, respectively. In Europe, temperature increases favor the various fungal pathogens' growth.

Fungicide Industry Segmentation

Chemigation, Foliar, Fumigation, Seed Treatment, Soil Treatment are covered as segments by Application Mode. Commercial Crops, Fruits & Vegetables, Grains & Cereals, Pulses & Oilseeds, Turf & Ornamental are covered as segments by Crop Type. Africa, Asia-Pacific, Europe, North America, South America are covered as segments by Region.

  • Fungicides may be applied using a variety of methods, depending on the specific requirements and diseases. Diverse application methods play a crucial role in effectively applying fungicides across various agricultural conditions.
  • In 2022, foliar application dominated the fungicide segment, holding the largest market share of 60.1%. This method is highly preferred as it provides efficient protection against foliar fungal diseases by directly targeting the pathogens on the leaves. The foliar application facilitates swift penetration and absorption of fungicides into the plant tissues, ensuring their effective action against fungal pathogens.
  • Fungicide seed treatments play a crucial role in addressing fungal infections during the initial phases of plant growth. These treatments create a protective shield around seeds, effectively preventing various diseases like seed rots, seedling blights, damping off, and root rots. Notably, within the global fungicide market, fungicide seed treatments accounted for a significant market share of 14.1% in 2022. This highlights their substantial contribution to safeguarding plant health and promoting successful crop establishment.
  • The selection of the application mode is influenced by multiple factors, encompassing the particular disease being targeted, the type of crop, the stage of disease development, and the availability of equipment. The fungicide market is anticipated to expand, projecting an estimated CAGR of 3.8% during the forecast period spanning from 2023 to 2029. This growth reflects the ongoing evolution of strategies to combat plant diseases and enhance agricultural productivity.
Application Mode
Chemigation
Foliar
Fumigation
Seed Treatment
Soil Treatment
Crop Type
Commercial Crops
Fruits & Vegetables
Grains & Cereals
Pulses & Oilseeds
Turf & Ornamental
Region
Africa
By Country
South Africa
Rest of Africa
Asia-Pacific
By Country
Australia
China
India
Indonesia
Japan
Myanmar
Pakistan
Philippines
Thailand
Vietnam
Rest of Asia-Pacific
Europe
By Country
France
Germany
Italy
Netherlands
Russia
Spain
Ukraine
United Kingdom
Rest of Europe
North America
By Country
Canada
Mexico
United States
Rest of North America
South America
By Country
Argentina
Brazil
Chile
Rest of South America
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Fungicide Market Size Summary

The fungicide market is poised for steady growth, driven by the increasing need to combat fungal diseases that threaten crop yields and global food security. The market is characterized by diverse application methods, with foliar application being the most dominant due to its effectiveness in targeting fungal pathogens on plant leaves. Seed treatments also play a significant role in protecting crops from early-stage fungal infections. The selection of application methods is influenced by factors such as the type of crop, disease stage, and available equipment. The market's expansion is further supported by the adoption of intensive agricultural practices and the impact of changing climatic conditions, which have led to a higher prevalence of fungal diseases.

Regionally, Europe and South America are significant contributors to the global fungicide market, with Europe having the highest per-hectare application due to intensified farming practices. South America's market share is bolstered by the effects of drought and heatwaves, which have increased the reliance on fungicides. The market is fairly consolidated, with major players like BASF SE, Bayer AG, Corteva Agriscience, Syngenta Group, and UPL Limited dominating the landscape. Recent developments include new product launches and facility expansions aimed at enhancing market offerings and addressing the growing demand for effective fungicide solutions.

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Fungicide Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Application Mode

      1. 1.1.1 Chemigation

      2. 1.1.2 Foliar

      3. 1.1.3 Fumigation

      4. 1.1.4 Seed Treatment

      5. 1.1.5 Soil Treatment

    2. 1.2 Crop Type

      1. 1.2.1 Commercial Crops

      2. 1.2.2 Fruits & Vegetables

      3. 1.2.3 Grains & Cereals

      4. 1.2.4 Pulses & Oilseeds

      5. 1.2.5 Turf & Ornamental

    3. 1.3 Region

      1. 1.3.1 Africa

        1. 1.3.1.1 By Country

          1. 1.3.1.1.1 South Africa

          2. 1.3.1.1.2 Rest of Africa

      2. 1.3.2 Asia-Pacific

        1. 1.3.2.1 By Country

          1. 1.3.2.1.1 Australia

          2. 1.3.2.1.2 China

          3. 1.3.2.1.3 India

          4. 1.3.2.1.4 Indonesia

          5. 1.3.2.1.5 Japan

          6. 1.3.2.1.6 Myanmar

          7. 1.3.2.1.7 Pakistan

          8. 1.3.2.1.8 Philippines

          9. 1.3.2.1.9 Thailand

          10. 1.3.2.1.10 Vietnam

          11. 1.3.2.1.11 Rest of Asia-Pacific

      3. 1.3.3 Europe

        1. 1.3.3.1 By Country

          1. 1.3.3.1.1 France

          2. 1.3.3.1.2 Germany

          3. 1.3.3.1.3 Italy

          4. 1.3.3.1.4 Netherlands

          5. 1.3.3.1.5 Russia

          6. 1.3.3.1.6 Spain

          7. 1.3.3.1.7 Ukraine

          8. 1.3.3.1.8 United Kingdom

          9. 1.3.3.1.9 Rest of Europe

      4. 1.3.4 North America

        1. 1.3.4.1 By Country

          1. 1.3.4.1.1 Canada

          2. 1.3.4.1.2 Mexico

          3. 1.3.4.1.3 United States

          4. 1.3.4.1.4 Rest of North America

      5. 1.3.5 South America

        1. 1.3.5.1 By Country

          1. 1.3.5.1.1 Argentina

          2. 1.3.5.1.2 Brazil

          3. 1.3.5.1.3 Chile

          4. 1.3.5.1.4 Rest of South America

Fungicide Market Size FAQs

The Global Fungicide Market size is expected to reach USD 17.51 billion in 2024 and grow at a CAGR of 3.84% to reach USD 21.15 billion by 2029.

In 2024, the Global Fungicide Market size is expected to reach USD 17.51 billion.

Fungicides Market Report Snapshots

Fungicide Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029