North America Fungicide Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

North America Fungicide Market Growth

The United States agriculture encompasses 300 distinct commodities, with a nearly balanced distribution between crop and livestock products. The agricultural sector in the United States generates over USD 300 billion annually from these commodities. Weeds are responsible for the most significant losses in global crop production, accounting for 34%, followed by insects at 18% and diseases at 16%. Thus, the impact of weeds, insects, and diseases on agricultural production in the United States is substantial. Moreover, region’s climate characterised by warmer temperatures, increased moisture, and elevated carbon dioxide levels are likely to enhance the prevalence of weeds, pests, and fungi, leading to North America fungicide market expansion.

Fungicides are also becoming increasingly essential in agriculture, as they play a crucial role in safeguarding crops from fungal diseases that can severely impact yields and diminish quality. As the demand for food has escalated, fungicides have assisted farmers in sustaining high productivity, particularly for high-value crops such as fruits and vegetables. Moreover, as per the North America fungicide market analysis, the agricultural and food sectors in the United States play a crucial role in fostering economic growth by generating USD 2 trillion in annual revenue and USD 130 billion in profit for over 2.6 million enterprises. The growth of agriculture is significantly increasing the demand for fungicides, as the expansion of crop areas necessitates efficient disease management strategies.

Key Trends and Developments

North America Fungicide Market Trends

There is a growing demand for bio-based fungicides driven by heightened environmental awareness and regulatory requirements. Both farmers and consumers are pursuing sustainable agricultural practices, which has spurred the development of organic and environmentally friendly fungicides. These alternatives are less detrimental to the ecosystem and are suitable for organic farming.

Additionally, technological advancements in precision agriculture, including the use of drones, sensors, and satellite imagery, are enhancing the accuracy and efficiency of fungicide applications. Such innovations help to minimise waste, reduce costs, and provide improved crop protection by specifically targeting affected areas, thereby reducing environmental repercussions, and consequently shaping the North America fungicide market outlook.

The adoption of these technologies is becoming increasingly prevalent, especially among larger agricultural operations. High-value crops, such as fruits and vegetables, are particularly vulnerable to fungal diseases, which can severely affect both quality and yield. As the demand for these crops rises, so does the necessity for effective fungicide solutions. Farmers are also making investments in fungicides to optimise yields and uphold high standards of crop quality, particularly in regions that prioritise agricultural exports.

North America Fungicide Industry Segmentation

North America Fungicide Market Share

Based on crop type, the market is segmented into fruits and vegetables, grains and cereals, and pulses and oilseeds, among others. Over the forecast period, fruits and vegetables are anticipated to grow at a CAGR of 4.0%. Fungicides play a vital role in the cultivation of fruits and vegetables by protecting crops from fungal infections that may adversely affect both quality and yield. Their application helps to avert spoilage, resulting in fresher produce with an extended shelf life, which is essential for satisfying market and consumer requirements.

Leading Companies in the North America Fungicide Market

Major players are focusing on the production of sustainable and chemical free fungicides to gain a competitive edge in the North America fungicide market share.

Sumitomo Chemical Co., Ltd.

Sumitomo Chemical was founded in 1913 and is based in Tokyo, Japan. The company specialises in a diverse array of agricultural products, such as fungicides, herbicides, and insecticides, with a commitment to sustainable crop protection practices.

FMC Corporation

FMC Corporation was founded in 1883 and is based in Pennsylvania, United States. It is a leading American chem...

American Vanguard Corporation

American Vanguard Corporation was established in the year 1969 and is headquartered in California, United Stat...

ADAMA Agricultural Solutions Limited

ADAMA was founded in 1945 and is situated in Ashdod, Israel. It offers herbicides, insecticides, and fungicide...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other major players in the market are BASF SE, Bayer AG, Corteva Agriscience, Nufarm Ltd., Syngenta Crop Protection AG, and UPL Ltd, among others.