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

United States Fungicide Market Growth

In 2023, the agriculture, food, and associated sectors contributed approximately USD 1.530 trillion to the U.S. GDP, equating to a total share of 5.6%. Of this total, the output from American farms accounted for USD 203.5 billion, which is about 0.7% of the overall U.S. GDP. The increasing application of fungicides is closely associated with the growth of the agricultural sector, as the rising global demand for food encourages farmers to optimise crop yields. As agricultural land expands, especially in areas such as the United States, the incidence of crop diseases tends to increase, leading to a heightened dependence on fungicides for effective disease management. Furthermore, intensive farming methods and the production of high-value crops intensify the necessity for reliable fungicide applications to ensure robust crop yields and protect against potential losses from fungal infections. These factors have accelerated United States fungicide market expansion.

In the Americas, the application of pesticides in agriculture rose by 10%, increasing from 1.71 million tons in 2021 to 1.89 million tons in 2022. Fungicides, a specific category of pesticides, play a crucial role in agriculture by safeguarding crops against fungal diseases that can significantly diminish both yield and quality. Furthermore, they bolster food security by ensuring a consistent supply of high-quality agricultural products. The strategic use of fungicides also aligns with sustainable farming practices by reducing the necessity for extensive land utilisation, thereby enhancing overall agricultural efficiency.

Key Trends and Developments

United States Fungicide Market Trends

The growing recognition of environmental sustainability, coupled with more stringent regulations, is driving the demand for organic and bio-based fungicides, thereby decreasing dependence on chemical alternatives. Advances in precision agriculture and drone technology are enhancing the methods of fungicide application, resulting in greater efficiency, and reduced environmental consequences. Additionally, climate change and erratic weather conditions have heightened the incidence of crop diseases, prompting a rise in fungicide usage to safeguard yields, especially in essential crops such as fruits, vegetables, and cereals.

United States Fungicide Industry Segmentation

United States Fungicide Market Share

Based on the crop type, the market is segmented into fruits and vegetables, grains and cereals, and pulses and oilseeds, among others. The fruits and vegetables segment is projected to grow at a CAGR of 3.8% during the forecast period of 2024-2032. Fungicides are chemical or biological agents which helps to prevent, control, or eliminate fungal infections that can adversely affect fruits and vegetables. These substances play a crucial role in modern agriculture, as they help safeguard crops from a variety of fungal diseases that can lead to significant damage, reduced yields, and economic losses for farmers.

Leading Companies in the United States Fungicide Market

Major players are focusing on the production of more efficient and sustainable fungicide to gain a competitive edge in the market.

BASF SE

BASF SE was founded in 1865 and is headquartered in Ludwigshafen, Germany. It is the largest chemical producer in the world and operates in over 80 countries. BASF's diverse business segments include chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions.

Bayer AG

Bayer AG was established in 1863 and is headquartered in Leverkusen, Germany. This leading global life science...

Corteva Agriscience

Corteva Agriscience was founded in 2019 as a standalone entity following the merger of Dow AgroSciences and Du...

Nufarm Ltd

Nufarm Ltd was established in 1981 and is headquartered in Victoria, Australia. It is an agricultural chemical...

*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 players in the market are Syngenta Crop Protection AG, UPL Ltd., Sumitomo Chemical Co. Ltd., FMC Corporation, American Vanguard Corporation, and ADAMA Agricultural Solutions Limited, among others.