Expanded Fungicides Market Forecast: Expected to Reach USD 35.0 Billion by 2034 at an Annual Growth Rate of 5.6%
In the ever-evolving world of agriculture, fungicides have become a crucial component in the fight against various fungal diseases that threaten crop yields. Companies like BASF Agricultural Solutions, Bayer, Syngenta, Corteva Agriscience, and Marrone Bio Innovations are leading the charge in this area, making significant investments in developing bio-fungicides and bio-insecticides.
BASF Agricultural Solutions is advancing digital farming with its xarvio HEALTHY FIELD platform, now incorporating fungicide application models. The company has also launched Revysol (mefentrifluconazole), a focus for their strategy of providing effective resistance management and high-efficacy disease control globally.
Meanwhile, Nufarm Ltd. has expanded its seed and soil health portfolio with the acquisition of two biologicals companies, Valagro and Agricen, aiming for more sustainable disease management and soil-borne pathogen control.
Fungicides are integrating with advanced technologies such as drone spraying and data analytics for precise application, reducing waste and environmental impact. This precision approach is expected to drive the growth of the Global Fungicides Market, which is projected to reach USD 35.0 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.6% from 2025 to 2034.
In 2024, the Global Fungicides Market was valued at USD 20.3 billion, with the Asia Pacific region holding the largest share, valued at USD 8.8 billion. The Asia Pacific region accounts for 43.8% of global fungicide demand growth, due to intensive agricultural activity, high crop protection chemical use, and diverse climates in countries like China, India, and Japan.
Crop yield protection is a key use case for fungicides, safeguarding crops like wheat, rice, and soybeans from fungal diseases such as rusts and blights. Fungicides play a vital role in the protection of fruits and vegetables too, preventing diseases like powdery mildew and anthracnose. They ensure produce remains visually appealing and safe for consumption, extending shelf life and meeting strict export quality standards.
Single-site inhibitors accounted for 68.1% of the Fungicides Market in 2024, while Triazoles & Diazoles held a 28.3% share. Foliar treatment captured a 58.2% share of the market, and Fruits and Vegetables represented 36.8% of the market in 2024.
Recent innovations include FMC Corporation's Onsuva, a novel fungicide for broad-spectrum disease control in cereals with a new mode of action, crucial for managing resistance in key pathogens like Septoria. Bayer Crop Science has also launched Veltyma fungicide, a combination of Trifloxystrobin and Prothioconazole, for soybeans and corn as a key part of their broader disease management system.
The increased adoption of fungicides is driven by rising food demand due to population growth and intensified fungal outbreaks caused by unpredictable weather patterns linked to climate change. Ongoing innovations in formulations enhance the efficacy of fungicides, making them essential for modern agriculture facing evolving fungal challenges.
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