The Middle East and Africa fungicides market was worth USD 1.43 billion in 2024 and reached USD 1.65 billion by 2029, growing at a CAGR of 2.9 % from 2024 to 2029.
Fungicides are a type of pesticide used to kill fungi or fungi spores. It helps to prevent the damage to crops caused by the attack of fungi. Some of the fungicides are dangerous to human and animal health. So, the major regulations governing the use of fungicides in the countries are expected to hamper the growth of the fungicides market in the near future.
Increasing need for food security for the increasing population, increasing loss of crop due to fungal disease, increasing investment in research and development, shrinking arable land, change in farming practices are the drivers propelling the market. However, factors such as stringent regulatory conditions differs in countries, increase in environmental pollution and shift to genetically modified seeds are hindering the market.
Cereals and grains has the largest share in the market and is expected to show highest CAGR during the forecast period.
Some of the key players in the market are BASF SE, Dow AgroSciences LLC, Sumitomo Chemical Co., Ltd, Bayer CropScience AG, Syngenta AG, Nippon Soda Co. Ltd, Cheminova A/S, and Nufarm Ltd.
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