Fungicide And Bactericide Market

The global market for fungicides, bactericides, and seed treatments is forecasted to continue growing over the next eight years, with consumption volume and value expected to increase. The market performance is projected to expand with a CAGR of +3.7% in volume and +5.7% in value from 2022 to 2030. While consumption decreased in 2022, there has been an overall upward trend over the past decade. China is the largest consumer of fungicides and bactericides, with strong growth in consumption rates. Production and imports also show fluctuations but overall growth. India is a key player in exports, with notable growth in export value. Overall, the global market for fungicides, bactericides, and seed treatments is dynamic, with various countries contributing to its growth and development.

Market Forecast

Driven by increasing demand for fungicides, bactericides and seed treatments worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 4.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.7% for the period from 2022 to 2030, which is projected to bring the market value to $40.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Inorganic Fungicides, Bactericides And Seed Treatments

In 2022, consumption of fungicides, bactericides and seed treatments decreased by -4.9% to 3.1M tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.5% against 2012 indices. Global consumption peaked at 3.3M tons in 2021, and then reduced modestly in the following year.

The global fungicide and bactericide market value fell slightly to $25.8B in 2022, shrinking by -4.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.1% against 2012 indices. As a result, consumption attained the peak level of $26.9B, and then contracted in the following year.

Consumption By Country

China (611K tons) remains the largest fungicide and bactericide consuming country worldwide, accounting for 20% of total volume. Moreover, fungicide and bactericide consumption in China exceeded the figures recorded by the second-largest consumer, the United States (276K tons), twofold. The third position in this ranking was taken by France (242K tons), with a 7.8% share.

In China, fungicide and bactericide consumption increased at an average annual rate of +7.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+4.8% per year) and France (+24.4% per year).

In value terms, the United States ($3.7B), China ($3.4B) and Japan ($2B) were the countries with the highest levels of market value in 2022, together accounting for 35% of the global market. France, India, Indonesia, Brazil, Germany, Russia, Mexico, Italy, Nigeria and the UK lagged somewhat behind, together comprising a further 31%.

Among the main consuming countries, France, with a CAGR of +21.3%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of fungicide and bactericide per capita consumption was registered in France (3,581 kg per 1000 persons), followed by the UK (1,121 kg per 1000 persons), Japan (1,050 kg per 1000 persons) and Germany (943 kg per 1000 persons), while the world average per capita consumption of fungicide and bactericide was estimated at 393 kg per 1000 persons.

In France, fungicide and bactericide per capita consumption increased at an average annual rate of +24.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the UK (+2.5% per year) and Japan (+9.9% per year).

Production

World Production of Inorganic Fungicides, Bactericides And Seed Treatments

After ten years of growth, production of fungicides, bactericides and seed treatments decreased by -4.6% to 3.1M tons in 2022. Overall, the total production indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +77.5% against 2012 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by 12%. As a result, production attained the peak volume of 3.3M tons, and then reduced in the following year.

In value terms, fungicide and bactericide production dropped to $20.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 7.5%. Global production peaked at $22.6B in 2021, and then dropped in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (709K tons), India (447K tons) and France (304K tons), with a combined 47% share of global production.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +11.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Inorganic Fungicides, Bactericides And Seed Treatments

In 2022, after two years of growth, there was decline in supplies from abroad of fungicides, bactericides and seed treatments, when their volume decreased by -3.5% to 1.1M tons. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 9.9% against the previous year. As a result, imports attained the peak of 1.2M tons, and then fell modestly in the following year.

In value terms, fungicide and bactericide imports amounted to $10.8B in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 11% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The countries with the highest levels of fungicide and bactericide imports in 2022 were Brazil (93K tons), France (67K tons), Bangladesh (49K tons), Germany (44K tons), Italy (41K tons), the United States (38K tons), Canada (34K tons), Indonesia (34K tons), China (31K tons), Vietnam (30K tons), Belgium (30K tons) and Spain (29K tons), together accounting for 47% of total import. The Philippines (27K tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bangladesh (with a CAGR of +13.9%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest fungicide and bactericide importing markets worldwide were Brazil ($763M), France ($701M) and Germany ($590M), with a combined 19% share of global imports. Canada, China, the United States, Spain, Italy, Vietnam, Belgium, Indonesia, Bangladesh and the Philippines lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Bangladesh, with a CAGR of +17.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average fungicide and bactericide import price amounted to $9,641 per ton, increasing by 11% against the previous year. Over the period under review, the import price, however, showed a mild decrease. Over the period under review, average import prices hit record highs at $11,594 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($13,348 per ton), while Bangladesh ($3,487 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+3.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Inorganic Fungicides, Bactericides And Seed Treatments

In 2022, overseas shipments of fungicides, bactericides and seed treatments decreased by -2.5% to 1.2M tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 12% against the previous year. The global exports peaked at 1.2M tons in 2021, and then shrank in the following year.

In value terms, fungicide and bactericide exports expanded remarkably to $10.7B in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, India (234K tons), distantly followed by France (128K tons), China (128K tons), Germany (112K tons), Spain (68K tons), the United States (54K tons) and Colombia (53K tons) were the main exporters of fungicides, bactericides and seed treatments, together constituting 67% of total exports. The following exporters - the UK (48K tons), the Netherlands (36K tons), Italy (32K tons), Belgium (28K tons), Israel (27K tons) and Brazil (19K tons) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +14.7%), while the other global leaders experienced more modest paces of growth.

In value terms, France ($1.6B), India ($1.1B) and Germany ($1.1B) constituted the countries with the highest levels of exports in 2022, together accounting for 36% of global exports.

India, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average fungicide and bactericide export price amounted to $9,213 per ton, with an increase of 10% against the previous year. Over the period under review, the export price, however, saw a slight downturn. Over the period under review, the average export prices attained the peak figure at $10,494 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($14,938 per ton), while India ($4,875 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform