Fungicides Market Growth Poised to Reach USD 26.0 Billion by 2030 with a CAGR of 4.24%
Global Fungicides Market Overview Projected to reach a valuation of USD 26 billion by 2030, the global fungicides market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 4.24% throughout the forecast period. Noteworthy growth is expected, driven by factors such as the escalating prevalence of fungal diseases, imperative need to curtail crop losses, and the burgeoning adoption of organic farming practices. Furthermore, advancements in product innovations are poised to provide lucrative growth avenues during the forecast period. Nonetheless, the market growth is hindered by risks associated with fungicides. Segmental Analysis The global fungicides market is segmented based on type, crop type, mode of application, and region. Type-wise segmentation comprises chemical fungicides and biofungicides. Chemical fungicides, which held an 87.60% market share in 2020, are projected to maintain a CAGR of 4.12% during the forecast period. This segment encompasses benzimidazoles,