Global Copper Fungicides Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Copper Fungicides Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Copper Fungicides are a class of products that use copper as the active ingredient, and the active ingredient is positively charged copper ions. Trace amounts of copper can penetrate cell membranes and disrupt enzyme activity, leading to the death of microorganisms. Therefore, Copper Fungicides are mainly used to prevent and control bacterial and fungal diseases of plants, and Copper Fungicides are not easy to produce drug resistance. However, copper decomposes slowly in the soil. If too much is applied at one time, it will pollute the soil and endanger crops.

Market Overview:

The latest research study on the global Copper Fungicides market finds that the global Copper Fungicides market reached a value of USD 866.4 million in 2022. It’s expected that the market will achieve USD 1138.27 million by 2028, exhibiting a CAGR of 4.65% during the forecast period.

Huge demand in cereal applications

The cereal segment accounts for the largest share of copper fungicide applications. Grain products mainly include flour, rice and malt. Flour is a powder made from beans, nuts or other grains. According to United Nations forecasts, the world's population is expected to reach 8.5 billion by 2030 and increase to 9.7 billion by 2050. Global population growth, especially in Asia, where rice is widely consumed, is driving demand for cereal-based foods. The increase in residents' disposable income has led people to choose meat, fish and poultry with higher protein content, and the development of animal husbandry has increased the demand for grain feed. Because whole grains are a source of fiber, vitamins, iron, folate, selenium, potassium and magnesium, and other important nutrients, you can feel full while maintaining a healthy weight and reduce your risk of heart disease, diabetes, colon cancer, and other diseases risks of. Therefore, in the upgrading of food consumption structure, it is more and more favored by consumers who pursue health. The ever-expanding cereal food market has put forward higher requirements for grain yield, and copper-containing fungicides are beneficial to the healthy growth of cereal crops, so the copper-containing fungicide market is positively affected by cereal applications.

Increase in fruit and vegetable consumption

Rising consumer consumption of fresh fruits and vegetables is favoring copper fungicides market expansion. According to USDA forecasts, within the next five years, U.S. shoppers will prioritize purchases of unprocessed fresh fruits and vegetables to support health goals. With the popularization of the concept of scientific diet, consumers' preference has gradually shifted from vitamins and supplements to a healthy diet with food as medicine. Traditional restaurants are appealing to vegan and vegetarian consumers with separate menus and refined plant-based dishes, such as adding more vegetables to menus and using more vegetables as side dishes with animal proteins. In addition to the increase in individual purchase intentions, the government also encourages residents to eat fruits and vegetables. USDA is providing nearly $8 million in 2022 to support the GusNIP Produce Prescription program, which provides financial and non-financial incentives to income-qualified individuals and families to buy fresh fruits and vegetables to improve dietary health. In 2022, the British government will try fruit and vegetable vouchers provided by general practitioners in some communities to help poor families eat healthier. Hence, the increasing consumption of fruits and vegetables is boosting the copper fungicides industry.

Development of organic agriculture

Copper fungicides are widely used in organic farming as insecticides. Organic farming is an agricultural system that uses ecologically based pest control and biological fertilizers primarily derived from animal and plant waste and nitrogen fixation, and most copper fungicides are OMRI-rated for use in organic environments. Copper is an essential nutrient for the survival of living organisms, too much copper can damage cell membranes and enzyme activities, leading to the death of microorganisms such as algae, bacteria, molds and fungi. Copper fungicides can therefore be used to treat the symptoms of almost any bacterial or fungal disease. With the steady increase in the sales of organic food, the improvement of environmental awareness and people's concerns about the health effects of pesticide residues and genetically modified crops, organic agriculture has developed rapidly in recent years. Global sales of organic food continue to grow, according to Statista. In 2019, organic food sales reached US$106 billion, of which the United States accounted for 40% of the total. In 2019, about 5.8% of the total food sales in the United States came from organic food. Organic farming can play an important role in sustainable food systems, with the European Commission setting out plans to dedicate at least 25% of EU agricultural land to organic farming by 2030 and to significantly increase organic aquaculture. The USDA announced in 2022 that it will provide $300 million in funding for organic food production. It is expected that the development of organic agriculture in the future will continue to increase the demand for copper fungicides.

Region Overview:

In 2021, the share of the Copper Fungicides market in North America stood at 31.36%.

Company Overview:

Albaugh, Bayer, Nufarm were the top 3 players in the Copper Fungicides market in 2022, taking up a market share of 54.03% together.

Segmentation Overview:

By type, Inorganic Copper Fungicides segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Tree Fruit & Nuts segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Copper Fungicides market covered in Chapter 3:

IQV Agro
Bayer
Nufarm
ADAMA
Isagro
UPL
Mitsui
Synthos Agro
Synwill
Albaugh
Jiangxi Heyi

In Chapter 4 and Chapter 14.2, on the basis of types, the Copper Fungicides market from 2018 to 2029 is primarily split into:

Inorganic Copper Fungicides
Organic Copper Fungicides

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Copper Fungicides market from 2018 to 2029 covers:

Grains
Tree Fruit & Nuts
Vines
Other Fruits & Vegetables

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)