Fungiides Market to Reach US$ 22.3 Bn by 2027, TMR Study – QNT Press Release

  • Increasing demand for organic formulations and subsequent focus of manufacturers on boosting their production of bio-based fungicides creates increment opportunities in the fungicides market

  • The growing trend of farmers opting for cash crops instead of cereal crops supplements the expansion of the market

WILMINGTON, Del., Sept. 9, 2022 /PRNewswire/ — Rising awareness pertaining to health benefits of consuming fresh fruits and vegetables has propelled an increase in their demand. Changing dietary patterns of consumers, most prominently in developing economies, have boosted the consumption of fruits and vegetables. On the back of these trends, the fungicides market is anticipated to rise at a CAGR of 4 % over the forecast period of 2019 to 2027.

Manufacturers and leading market players are focusing on increasing their manufacturing capacities in order to fulfil the rising demands from agricultural farmers. Moreover, the emergence of new types of solutions, such as weather-based decision spray models, is also expected to create new revenue generation opportunities in the fungicides market in near future. These next gen decision-based spraying models can help farmers in making precise decisions for spraying fungicides, based on weather conditions.

Players in the fungicides market are also focusing on overcoming various challenges faced by cereal farmers, including risk of contamination through soil-borne diseases, changing volumes of crop yields, and dearth of natural resources. The players are engaged in the development of novel fungicides that can offer enhanced disease control, and enable farmers to achieve a high volume of healthy cereal crops.

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Funicides Market – Key Findings of the Report

  • Shift of Farmers to Cash Crops from Cereal Crops: In leading agrarian economies like India and Chinafarmers are focusing on harvesting cash crops, such as sugarcane, cotton, jute, oilseeds, etc., instead of cereal crops. This has also triggered an increased demand for fungicides and pesticides to protect these delicate and highly profitable crops from pests and fungi .
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