The SDHI fungicide market is evaluated at US$2,167.362 million for the year 2019 and is projected to grow at a CAGR of 6.09% reaching the market size of US$3,277.389 million by the year 2026.
The market is expected to surge in the coming years, due to the rise in the number and development of novel and advanced crop protection products. Succinate Dehydrogenase Inhibitor (SDHI) fungicides have been playing an imperative role in the protection of plants from various types of fungus infections and diseases. There has been an imperative demand to provide and ensure food protection for an increasing population. The market is also expected to surge in the coming years, intending to increase the productivity of global arable land. The FAO report had stated that worldwide arable land under the vegetable accounted for around 57.8 million hectares. The rise in urbanization and global development has been reducing the amount of arable land, worldwide. These trends and developments are expected to play a major role in the market growth and are anticipated to propel the market growth during the forecast period.
During the COVID-19 pandemic, the market suffered a slight decline owing to the trade restrictions leading to a lack of SDHI fungicides to the farmers. China, which is a major exporter of FDHI fungicide, witnessed a devastating wave of COVID during the initial months of the outbreak. The country implemented trade restrictions and halted the export of SDHI fungicide, which impacted the market negatively. Furthermore, the economic slowdown and financial uncertainties among the farmers that arose due to pandemics impacted the market as well. Thus, the projection for SDHI fungicide market in the COVID-19 scenario is slightly revised downwards. The market is estimated to witness negative growth in 2020.
Rise in the demand for crop protection products and compounds.
The market is expected to surge in the coming years, due to the rise in the demand for crop protection products, worldwide. Succinate Dehydrogenase Inhibitors Fungicide has been taking an important role as an alternative to fungicides in controlling turfgrass diseases and resistance management. The rising agricultural trade has also been one of the major factors in the growth of crop protection products. The increase in urban population and rising disposable income have propelled the need for high-quality food and agricultural products. Major companies have been making significant developments in the market. For instance, in June 2021, Syngenta announced that their novel active undergoing approval of SDHI fungicide had been offering enhanced Septoria control in wheat, and also could be the solutions to ramularia control in a barley crop. The company had stated that the novel product had been a third-generation fungicide. In May 2021, BASF announced the development of a novel generation seed treatment, known as Kinto Plus, which had been used to control a plethora of soil-born and seed diseases. The company’s product had active ingredients and also contain SDHI fungicide fluxapyroxad. These trends and developments are expected to play a major role in the market growth in the coming years.
Grains and cereals have a significant market share.
By application, the grains and cereals segment is anticipated to have a prominent market share throughout the forecast period. In order to maintain healthy crops and profitably high yields, fungicide treatments are critical and are likely to remain so. Integrated crop management relies heavily on them, and their efficiency should be preserved as long as possible. As cereals are essential commodities, they are also generating an extraordinary amount of demand. Approximately 728 million hectares of arable land were planted with cereals, which is a large area covered by crops. It is estimated that 95 million hectares of land were under cultivation for pulses, as pulses are a major food and are widely consumed worldwide. As a result, demand for nutritious and healthy foods will continue to rise, thus having a positive impact on the market. A number of government initiatives are underway to boost food productivity around the world. By 2050, the world's population will be 9.7 billion. As a result, a growing population will lead to urbanization, which will have a positive effect on the SDHI Market. The per capita income will increase significantly, and there will be a significant increase in crop protection methods.
North America to have a significant market share.
Geographically, the North American region is anticipated to hold a significant market share during the forecast period. This growth can be attributed to the increased demand for food in the country and the consequent security of crops. Over the years, the consumption of fresh fruits in the United States has exceeded national production. To fulfill this increasing consumption and trade of fruits and vegetables in the country, the crops need to be protected from various fungal infections. With the increasing demand for fruits, vegetables, and other crops in the country, the demand for SDHI fungicide is also expected to increase in the US, further propelling its market growth in the country. Taking advantage of this growing demand for SDHI fungicide, market players in the country are undertaking various strategic actions to further increase their foothold in the market. For instance, in May 2020, Isagro S.p.A and FMC Corporation agreed to an agreement where FMC would acquire an active ingredient asset of Isagro named “Fluinapyr.” for USD 60 million.
|Market size value in 2019||US$2,167.362 million|
|Market size value in 2026||US$3,277.389 million|
|Growth Rate||CAGR of 6.09% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Adama Ltd., FMC Corporation, Corteva Agriscience, Bayer Cropscience AG, UPL, BASF SE, Syngenta AG, Valent USA LLC|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the SDHI fungicide market?
A1. The SDHI fungicide market is projected to grow at a CAGR of 6.09% over the forecast period.
Q2. What will be the SDHI fungicide market size by 2026?
A2. The global SDHI fungicide market is projected to reach a total market size of US$3,277.389 million by 2026.
Q3. What is the size of the global SDHI fungicide market?
A3. SDHI Fungicide Market was valued at US$2,167.362 million in 2019.
Q4. Which region holds the maximum market share of the SDHI fungicide market?
A4. Geographically, the North American region is anticipated to hold a significant share of the SDHI fungicide market owing to the increased demand for food in the country and the consequent security of crops.
Q5. What factors are anticipated to drive the SDHI fungicide market growth?
A5. The SDHI fungicide market is expected to surge in the coming years, due to the rise in the number and development of novel and advanced crop protection products.