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The global fungicides market is expected to reach USD 27.11 Billion by 2030, according to a new report by Reports and Data

NEW YORK CITY, NEW YORK, UNITED STATES, September 16, 2022 /EINPresswire.com/ -- The growing occurrence of crop diseases is one of the significant factors influencing the market growth.

The global fungicides market is expected to reach USD 27.11 Billion by 2030, according to a new report by Reports and Data. The growing occurrence of plant and crop diseases are driving the growth of the market. Diseases are a significant source of crop and plant damage, which may be caused by several plant pathogenic organisms. Fungi are the leading reason for crop loss across the globe. Diseases often have a substantial economic impact on quality and yield; hence disease management is an indispensable component of production for the majority of the crops. Fungicides, in general, find usage for disease control during the planting and growth of a crop, increased productivity, and reducing blemishes. Diseased food crops, typically, produce less as their leaves, necessary for photosynthesis, are affected by the disease. It has been found that one in every eight crop plants fails to yield owing to fungal disease, thereby necessitating the need for crop protection policies.

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Key participants include: BASF SE, FMC Corporation, Nufram, Bayer AG, Nissan Chemical Corporation, Nippon Soda Co. Ltd., Corteva Inc., Sumitomo Chemical Co. Ltd., Syngenta AG, and Isagro Spa, among others

Further key findings from the report suggest

By type, synthetic fungicides contributed to a larger market share in 2019 and are likely to grow at a rate of 4.0% in the forecast period. The availability of a variety of synthetic fungicides and ease of use are causative of the high market demand. Other benefits offered by this product type are higher crop quality, higher crop yields, and lower labor costs. By mode of action, contact fungicides are likely to grow at a rate of 5.2% in the forecast period. Contact fungicide or protectant functions by destroying the fungi when it comes in contact. Moreover, it prevents several other pathogens from getting into the tissue of plants. By application method, post-harvest is likely to grow at the fastest rate in the period 2020-2027. Some of the most significant crop losses owing to diseases occur post-harvest. Fungi frequently spoil stored vegetables, tubers, fruits, and seeds. A few which contaminate grains produce toxins capable of triggering severe illness or even death when consumed by humans and animals. By crop type, cereals & grains held the second-largest market size in 2019 and is likely to grow at a rate of 5.0% in the forecast period. An increase in population and the resulting rise in demand for food materials has resulted in an increase in the demand for crop protection chemicals, thus increasing the demand for novel fungicides solutions worldwide. Europe dominated the market in 2019 and is likely to grow at a rate of 3.9% in the forecast period. The market dominance of Europe is owing to the presence of leading market players in the region. Also, there is increased usage of fungicides in Europe for the protection of cereal crops.

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Type Outlook (Revenue, USD Billion; 2019-2030)

Chemical Triazole Strobilurin Dithiocarbamates Chloronitrile Phenylamides Others Biological Microbial Botanical

Form Outlook (Revenue, USD Billion; 2019-2030)

Liquid Suspension Concentrates (SC) Emulsifiable Concentrates (EC) Soluble Liquid Flowables (SLC) Dry Water-Dispersible Granules (WDG) Wettable Powder (WP)

Mode of Action Outlook (Revenue, USD Billion; 2019-2030)

Application Outlook (Revenue, USD Billion; 2019-2030)

Seed Treatment Soil Treatment Fruits & Vegetables Foliar Spray Chemigation Post-Harvest

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Key Questions answered by the Report:

What is the expected year-on-year growth of the Fungicides during the forecast period? What key trends are expected influence revenue growth of the market going ahead? Which region is expected to account for largest revenue share over the forecast period? Which key companies are profiled in the report?

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors

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