Copper Fungicides Market size was anticipated to be valued at USD 845.6 million in 2021 and is expanded to grow at a significant CAGR of 6.3% over 2022-2028. For gardeners, fungal diseases can be a severe issue, especially when the weather is warmer and wetter than typical. Copper fungicides are frequently used as the first line of defense, particularly by gardeners who prefer not to use chemical fungicides. Copper fungicides might be confusing to apply, but knowing when to use them is the key to success. One of the most important causes driving copper fungicide growth is rising food demand and diminishing land. The increasing use of organic farming and the prevalence of fungal diseases are driving the worldwide copper fungicides market. Organic agriculture has grown in popularity over the last decade, owing to the rising demand for organic foods and increased knowledge of the harmful effects of chemicals on health and the environment. The need for copper fungicides has been growing in the recent years. The primary factor that affects the consumption of copper fungicide is the increased demand for food cultivation. The growing number of fungal diseases affecting the crop is another factor that helps the growth of the copper fungicide market. The majority of copper fungicide products going off-patent would unleash a great opportunity. Adoption of organic farming and the practice of using fungal protection for crops can drive market growth. Awareness regarding the impact of chemicals and environmental regulations restricting their use on crops is likely to bolster market demand. Fruits & vegetables accounted for the biggest market share by application and are expected to grow at a CAGR of 6.57% percent over the projected period. To combat diseases including rust, peach leaf curl, fire blight, and brown rot, various copper fungicides are sprayed on fruits and vegetables.
Recent Market Developments:
In September 2021, Best Agrolife Limited announces acquisition of Best Crop Science Pvt. Ltd. This acquisition is going a play a very synergistic role as Best Crop Science Pvt. Ltd. Manufactures all the three Active Ingredients – Pyriproxyfen, Diafenthiuron & Dinotefuran which are there in the composition of this patented formulation.
In May 2021, ADAMA Ltd. and Jiangsu Huifeng Bio Agriculture Co., Ltd reported that they have completed the second and final phase of their previously announced transaction. In this phase, ADAMA has closed the acquisition of a 51% stake in Huifeng’s key crop protection synthesis and formulation facilities.