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According to Technavio's fungicides industry analysis and forecast, the increasing use of fungicides in horticulture will be one of the primary factors that will have a positive impact on the market’s growth. Managing vegetable crop diseases is one of the major challenges for home gardeners. Traditional methods including proper site selection, plant spacing, staking, and watering are highly preferred for disease management in homegrown vegetable gardens. Fungicide treatments such as the usage of Chlorothalonil, Mancozeb, Myclobutanil, Propiconazole, and Tebuconazole are also preferred by home gardeners. Fungicides are highly effective in controlling common diseases in vegetables grown in home gardens. The increasing usage of fungicides for horticulture will fuel the market’s growth during the forecast period. Technavio’s market research analysts predict that the fungicides market growth will be at a CAGR of above 5% by 2021.
In terms of geographic regions, APAC will be the major revenue contributor to the fungicides market throughout the forecast period. The increased production of vegetables and fruits with cereal and grains and the awareness of farmers on the suitable use of fungicides, will drive the demand for fungicides in the region.
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The major players in the fungicides market compete based on technology, trait leadership, price, quality, and cost. The market consists of many global and regional players. Several small regional fungicide manufacturers also account for significant market shares. In addition to supplying chemicals, distributors also target small end-user segments and agents supply products in highly localized and regional markets.
The other prominent vendors in the market are ADAMA Agricultural Solutions, American Vanguard Corporation, Isagro, ISHIHARA SANGYO KAISHA, NIPPON SODA, and UPI.
During 2016, the synthetic fungicides segment accounted for the major shares of this market. Factors such as the availablity of a wide range of synthetic fungicides and its ease of application for farmers, will contribute to the growth of this industry segment in the coming years.
According to this market research report, the fruits and vegetables segment will account for the maximum shares of the fungicides market until 2021. The increasing consumption of fruits and vegetables and the growing need for tropical and exotic fruits in the developing countries, will drive the growth prospects of the market in this segment.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Market segmentation by application
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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