Copper Fungicides Market Size, Share & Trends Analysis Report By Chemistry (Copper Oxychloride, Copper Hydroxide), By Application (Fruits & Vegetables, Cereals & Grains), By Region, And Segment Forecasts, 2023 - 2030

Copper Fungicides Market Size, Share & Trends Analysis Report By Chemistry (Copper Oxychloride, Copper Hydroxide), By Application (Fruits & Vegetables, Cereals & Grains), By Region, And Segment Forecasts, 2023 - 2030

Copper Fungicides Market Growth & Trends

The global copper fungicides market size is expected to reach USD 479.4 million by 2030, registering a CAGR of 5.2% during the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the increasing instances of fungal diseases in crops and the growing adoption of organic farming globally. The usage of fungicides provides benefits to farmers from an eco-friendly perspective as they minimize soil exposure to various chemical products and phytotoxicity. According to Agronomy, copper-based plant protection products are registered in 25 out of 30 European countries. The copper compounds that are authorized as active ingredients in fungicides in the European Union include copper hydroxide, oxychloride, oxide, Bordeaux mixture, and tribasic copper sulfate.

According to the Food & Agricultural Organization, the adoption of organic farming is on the rise in several countries across the world owing to increased awareness among farmers, governments, as well as citizens. The increasing demand for organically farmed fresh products is driving the adoption of organic crop protection chemicals worldwide. Thus, resulting in increased demand for the product market. Unlike other agrochemicals, evidence supports that copper fungicides can have a long-term effect on the soil. Effects can occur even at a low concentration of the product and impact several soil processes, such as bioturbation, earthworm activity, and microbial activity.

According to the Journal of Agricultural & Food Chemistry, copper concentration in Australian vineyard soil was measured to assess the magnitude and extent of its accumulation in the soil resulting from the usage of copper fungicides, as well as to determine its risks to the long-term fertility of the soil. The sample of soil was collected from 98 vineyards across 10 grape-cultivating regions in the country. Approximately 96% of the surveyed vineyards had elevated concentrations of the product in the soil compared to nearby soil in the native state. Thus, the risk of soil contamination due to prolonged usage of the product is anticipated to act as a restraining factor for the growth of the industry.

Copper Fungicides Market Report Highlights

• The copper hydroxide segment dominated the industry in 2022 since it is among the most widely used copper fungicides for the protection of dozens of vegetable, fruit, and nut crops against many fungal infections
• The fruits & vegetable application segment dominated the global industry in 2022. Copper fungicides are used on fruits & vegetables for the prevention of various fungal diseases, including black spots, leaf curl, a shot holes of fruit, blights, leaf spots, and downy mildew of vegetables
• Moreover, the growing consumption of wine and increasing grape cultivation, along with increasing awareness regarding healthy diet, will further boost the product demand in this application segment
• Europe was the dominant regional market in 2022 as the key manufacturers are located in this region due to the easy availability of raw materials
• Companies are investing in R&D activities to come up with new product ranges to meet the rising demand
• For instance, Corteva focuses on the development of molecular-based pesticides and biopesticides for pest and disease pathogenicity and resistance. Bayer is launching SmartStax PRO having RNAi technology for fighting corn rootworms