Irving, TX (PRWEB) October 04, 2012
The global fungicides market has witnessed robust growth during the last five years and is expected to witness growth momentum although at a slightly reduced pace and reach an estimated US $21.42 billion in 2017 with a CAGR of 6.7% over the next five years. North America witnessed the highest growth during the last five years and is expected to lead the industry during 2012 to 2017
Lucintel, a leading global management consulting and market research firm, has analyzed the Global Fungicides market and presents its findings in “Global Fungicides Market 2012–2017: Trends, Profit, and Forecast Analysis.”
The fungicides market consists of a specific type of pesticide that controls fungal disease by specifically inhibiting or killing the fungus causing the disease in the crops. Fungicides prevent and cure diseases, which can have severe adverse effects on crop yields and quality. The main markets are fruit and vegetables, cereals, and rice.
As per the study, regulatory norms to reduce toxicity, environmental laws and government regulations are some of the challenges before the industry. On the contrary, the ever increasing world population has been creating constant pressure for higher yields from the limited cultivable land resources to meet the world hunger, so the demand for fungicides is expected to increase to save crops from the damage caused by fungus and diseases.
In global fungicides market, APAC is forecast to see the highest growth during next five years. Developing countries such as China and India are demanding higher volumes of nutritious food, which will in turn increase the fungicides market. Growing horticulture and floriculture industries will also result in increasing demand for fungicides.
Lucintel’s market research provides a concise overview of the global fungicides market. This research report categorizes the global market for fungicides on the basis of geography– thus it tracks four segments of the global fungicides market. The scope of this study is limited to annual trends for past five years and forecasts for next five years.
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