Fungicides Market worth $36.91 billion by 2031- Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Nov. 5, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the fungicides market is estimated at USD 26.87 billion in 2026 and is projected to reach USD 36.91 billion by 2031, at a CAGR of 6.6%.

Fungicides Market Size & Forecast

• Market Size Available for Years: 2021–2031
• 2026 Market Size: USD 26.87 billion
• 2031 Projected Market Size: USD 36.91 billion
• CAGR (2026–2031): 6.6%

Fungicides Market Trends & Insights:

• The global fungicides market is expected to grow as rising food demand and the need to improve agricultural productivity increase the importance of effective crop disease management. Fungal diseases can significantly reduce crop yields, affect product quality, and cause post-harvest losses, encouraging farmers to adopt fungicides across cereals and grains, fruits and vegetables, oilseeds, and other crops.
• Asia Pacific is projected to contribute the largest share of 31.0% in 2026 in the fungicides market.
• Based on type, the biological segment is anticipated to dominate the market, with a CAGR of 14.7% during the forecast period 2026–2031.
• The seed treatment segment of the fungicides market, by mode of application, is projected to witness the highest CAGR of 7.2% during the forecast period.
• Liquid is projected to contribute the largest share of 66.0% in 2026.
• Cereals and grains is projected to grow at the fastest CAGR of 6.8% from 2026 to 2031.

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The fungicides market is showing rapid growth due to increasing demand from developing countries, easy availability of crop protection products, an increase in area under high-value cash crops, growing demand for food, and an increase in global population. Amendments in the regulations regarding environmental protection laws and changing government policies across various regions are the major factors challenging fungicide product manufacturers and service providers. Various chemicals and mechanical & biological measures were looked into to check the growing population of fungi in the world. Various chemical formulae are listed by the US Environmental Protection Agency (US EPA) for use in commercial and agricultural fields. With concerns related to the chemical method increasing every year, the introduction of biological fungicide products has many advantages, which is why they are favored over their chemical counterparts in North American and European regions.

By mode of action, the systemic fungicide segment to hold the highest market share in the fungicides market.

Systemic fungicides have a stronger market share in the global fungicides market because of their brilliant mode of action in providing full protection against fungal diseases. The systemic fungicides are mostly absorbed by the plants and distributed in all tissues, thereby offering very effective control of pathogens that may be unexposed at the time of application. Systemic action guarantees long-lasting protection and controls a wide spectrum of fungal pathogens, hence high efficacy in managing persistent and difficult-to-treat diseases. That, coupled with the efficacy and the ability to reduce the frequency of application, makes them more attractive to farmers and continues to consolidate their leading position in the fungicides market.

In the mode of application segment, foliar spray holds the highest market share in the fungicides market.

Foliar spray holds the largest market share in the fungicides market due to the fact that it has a more direct and efficient way of application. Since foliar sprays target the outside of leaves, they provide immediate protection and control against fungal pathogens, ensuring delivery of the fungicide to the most vulnerable points. This method allows for application precision, which reduces the risk of diseases spreading but maximizes treatment efficiency. Besides, the foliar sprays are versatile and can be used in a wide range of crops and growth stages; this makes this segment very widespread and holds the maximum market share.

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North America holds a significant market share in the fungicides market.

The fungicides market holds a significant share in North America because of the well-built infrastructure for agriculture and large adoption of modern technologies related to crop protection in this region. In this region, farming practices are extensive and varied, with the need for effective fungicide solutions against a wide range of fungal diseases and high yields. The Rio Grande Valley (citrus fruits) in Texas and Mexico, California's Central Valley (fruits and vegetables), the Gulf Coastal Plain (vegetables), and the Appalachian sandy valleys (for cotton and tobacco) are all important agricultural areas in this zone. Moreover, this region also houses key manufacturers of fungicides and invests in continuous research and development that fuels innovation and product availability. Government regulatory support for agricultural productivity also aids the demand for fungicides, thereby cementing North America's dominant position within the global market.

Top Companies in the Fungicides Market

Key players in this market include BASF SE (Germany), Bayer AG (Germany), Syngenta Group (Switzerland), Corteva Agriscience (US), FMC Corporation (US), UPL Limited (India), Nufarm Limited (Australia), Sumitomo Chemical Co., Ltd. (Japan), Nippon Soda Co., Ltd. (Japan), Kumiai Chemical Industry Co., Ltd. (Japan), American Vanguard Corporation (US), Albaugh LLC (US), Gowan Company (US), Sipcam Oxon (Italy), and Sharda Cropchem Limited (India).

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Investment Funding Context

The global fungicide market is witnessing continued investment in product innovation, particularly in biological fungicides and microbial crop-protection technologies, as manufacturers seek effective and sustainable solutions for managing fungal diseases. Rising crop disease pressure, concerns over fungicide resistance, and growing interest in integrated disease management are creating opportunities for new technologies and market entrants. Investment and funding activity is supporting the development and commercialization of next-generation crop-protection products. In September 2026, Robigo secured Series A funding led by Leaps by Bayer to advance engineered microbial crop-protection products designed to protect crops against fungal diseases. In October 2025, Ascribe Bio raised USD 12 million in Series A funding co-led by Corteva Catalyst and Acre Venture Partners, with participation from Syngenta Group Ventures and other investors. The funding will support the commercialization of its Phytalix biofungicide and expansion of manufacturing and commercialization activities.

Revenue Shift Context

The fungicide market is estimated at USD 26.87 billion in 2026. It is projected to reach USD 36.91 billion by 2031, at a CAGR of 6.6%. The fungicide market is experiencing a gradual revenue shift from conventional, off-patent fungicides toward advanced formulations, combination products, and biological fungicides. While chemical fungicides continue to account for a substantial share of market revenue due to their established efficacy and widespread use, demand for products with novel modes of action and improved resistance-management capabilities is creating opportunities for higher-value offerings. Biological fungicides are also gaining traction as growers seek sustainable disease-control solutions and aim to meet residue requirements, particularly in high-value crops. In the coming years, market participants are likely to focus on differentiated active ingredients, combination formulations, biological solutions, and precision application technologies to strengthen product portfolios and capture emerging revenue opportunities.

Mergers and Acquisitions

Mergers and acquisitions in the fungicide market are increasingly focused on expanding biological crop-protection portfolios, strengthening microbial and biological pest-management capabilities, and accessing sustainable product technologies. Companies are seeking to complement conventional crop-protection products with biological alternatives, including microbial, biochemical, and botanical solutions for insect, fungal, nematode, and other pest controls. Acquisitions are also enabling companies to broaden geographic reach, accelerate commercialization, and strengthen R&D and technology platforms.

FUNGICIDE MARKET: MERGERS AND ACQUISITIONS, March 2025–September 2026

Company Revenue Share Details

The global fungicide market is moderately consolidated, with the top five companies collectively accounting for an estimated 40–50% of the market. BASF SE (Germany) leads with an estimated share of 10–12%, followed by Bayer AG (Germany) at 9–11% and Syngenta Group (Switzerland) at 8–10%. Corteva Agriscience (US) accounts for approximately 7–9%, while Sumitomo Chemical Co., Ltd. (Japan) holds an estimated 6–8%. These companies maintain competitive positions through extensive product portfolios, product innovation, research and development, and broad geographical presence. The remaining 50–60% of the market is attributed to other players, indicating competition from additional multinational manufacturers and regional agrochemical companies. Overall, competition is shaped by product differentiation, fungicide efficacy, resistance management, regulatory compliance, and the development of advanced and biological fungicide solutions.

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Related Reports:

Crop Protection Chemicals Market by Type (Herbicides, Insecticides, Fungicides & Bactericides), Origin (Synthetic & Biopesticides), Form, Mode of Application (Foliar, Seed Treatment, Soil Treatment), Crop Type and Region - Global Forecast to 2030

Biorational Pesticides Market by Source (Botanical, Microbial, Non-organic), Type (Biorational Insecticides, Biorational Fungicides, Biorational Nematicides, Biorational Herbicides), Mode of Application, Formulation and Region - Global Forecast to 2028

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