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

Report Overview

The global copper fungicides market size was valued at USD 318.5 million in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 5.2% from 2023 to 2030. The growth is attributed to the factors, such as the change in global climatic conditions, the emergence of invasive fungal species, and the rising need for strong fungal resistance in crops. Fungi constitute the highest number of plant pathogens and cause numerous serious diseases in plants. The majority of diseases in vegetables are caused by fungi. Various sources of fungal infections in plants are soil, seed, crop debris, weeds, and nearby crops.

Thus, the control of fungal diseases that affect plants is essential to meet the rising demand for food across the world due to the rising population. According to the United Nations, the global population may reach 9.7 billion by 2050. According to the Harvard Business Review, the demand for food worldwide is expected to rise to reach approximately 98% by 2050. As per the Food & Agriculture Organization, the demand for cereals for both, animal feed and human food is projected to reach 3 billion tons by 2050. All these factors are anticipated to drive product demand in the coming years to increase crop yields.

Organic plant growers are frequently dependent on copper fungicides as they are the only organic products having efficiency against plant diseases, such as downy mildew and late blight, that are currently approved for application on plants. As these diseases can wipe out the crops, disease control provided by the use of copper fungicides is critical for both, conventional and organic farming operations across the world. Thus, acting as a driving force for the product market. The U.S. was the largest product consumer in North America in 2022. This is attributed to the high crop demand in the region due to the increasing population and slow growth of arable land.

The U.S. is also a key producer of cereals. According to the World Bank, it produced 434.88 million metric tons of cereals in 2021, witnessing an increase of 3.01 million metric tons in cereal production compared to that of in 2015. The production of corn, soybeans, and cereals in the country is growing owing to the rising demand for food. The country is also among the key exporters of wheat, cotton, corn, soybeans, etc. Growing crop production has been the key driver for the demand for crop protection chemicals in the U.S.

Chemistry Insight

The copper hydroxide segment dominated the industry in 2022 and accounted for the largest share of 31.0% of the overall revenue. This growth is attributed to their fungicidal application in major fruits and vegetable crops as they can effectively control fungal diseases compared to their counterparts. Due to the increasing demand for copper hydroxide, companies are coming up with a new range of products to fulfill the demand. For instance, Bayer AG, a prominent manufacturer of copper fungicides, is producing copper hydroxide under the brand, “Blue Shield”, which protects the crop against peppery leaf spots, downy mildew, black rot, and ring spot in pears, apples, citrus fruit, along with anthracnose and bacterial black spot in mangoes.

Copper sulfate is another leading segment and is estimated to witness significant growth over the forecast period. This growth is attributed to the fact that these products are used to control fungal and bacterial diseases in vegetables, roses, fruits, nuts, herbs, ornamentals, and turf. It is the most traditional and effective type of copper fungicide. It binds with the proteins in fungi and algae, eventually killing them. It is also used to overcome copper deficiency by foliar spraying of diluted copper sulfate. To increase its efficiency, copper sulfate is mixed with lime and water to form a Bordeaux mixture, which acts as an excellent fungicide for all types of crops. All these factors are contributing to the segment growth.

Application Insight

On the basis of applications, the industry has been further categorized into fruits & vegetables, cereals & grains, oilseeds & pulses, and others. The fruits & vegetables application segment dominated the global industry in 2022 and accounted for the maximum share of 41.9% of the overall revenue. The growth of this segment is attributed to the increasing health consciousness among consumers across the globe, which, in turn, boosts the demand for fresh fruits and vegetables due to their nutritional value.

On the other hand, the oilseed & pulses application segment is estimated to register the fastest growth rate during the forecast period. Oilseeds and pulses include various types of seeds, such as sunflower seeds, soybean, and leguminous seeds (pulses). For 2022/23, global oilseed production is projected at 644.4 million tons, according to a report published by the USDA on account of the expected increase in the production of cotton seed and soybean. Thus, this increasing production of oilseeds & pulses is further expected to drive the demand for the product market.

Regional Insights

Europe emerged as the dominating region in 2022 and accounted for the maximum share of 58.8% of the overall revenue. The majority of key manufacturers are located in Europe owing to the easy and adequate availability of raw materials, such as copper sulfate, required for developing these chemicals. Some other copper-based chemicals produced in this region are copper oxychloride, copper hydroxide, and cuprous oxide. Germany is among the top 10 crop producers in the world. Sugar, wheat, grapes, vegetables, and fruits are among the major crops cultivated in the country that require pesticides due to their increased yields. According to the International Grains Council (IGC), Germany is estimated to report grain crop production of the order of 42.5 million tons in 2022–2023 compared with 42.5 million tons of grain crop production registered in the previous year.

Thus, the rising crop productivity in the country is anticipated to boost the demand for pesticides and fungicides in Germany in the coming years. Asia Pacific is estimated to witness the fastest CAGR over the forecasted period. Agriculture is a primary sector in a number of countries in APAC including India, Bangladesh, and Sri Lanka. The flourishing agriculture sector in these countries is expected to drive the consumption of copper fungicides in the region. In addition, China and India being powerhouses, in terms of the production of crops, such as rice, wheat, and cotton, have emerged as global export hubs for rice, wheat, and cotton. It is expected that the consumption of pesticides will increase exponentially in the Asia Pacific region in the coming years, thereby leading to the growth of the regional market.

Key Companies & Market Share Insights

The industry is highly competitive with the presence of a large number of well-diversified regional and independent small- and large-scale manufacturers and suppliers. While large-scale companies concentrate on product development and innovations, small-scale businesses primarily compete based on price. Multinational companies have established global supply chains comprising their in-house supply channels or third-party distributors.

The presence of production and distribution platforms globally enables short lead times for product manufacturers. For instance, Nufarm Ltd. has teams in over 30 countries to support growers and channel partners in key agricultural regions worldwide. These platforms help product manufacturers in establishing a close relationship with their customers. Some of the prominent players operating in the global copper fungicides market include:

• UPL Ltd. India

• Albaugh, LLC

• Nufarm

• Certis USA LLC

• Bayer AG

• Isagro S.p.A.

• Nordox AS

• ADAMA

• Quimetal

• Cosaco

• Cinkarna Celje dd

• Corteva

Copper Fungicides Market Report Scope

Global Copper Fungicides Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global copper fungicides market report on the basis of chemistry, application, and region:

• Chemistry Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

  • Copper Oxychloride

  • Copper Hydroxide

  • Cuprous Oxide

  • Copper Sulphate

  • Others

• Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

  • Fruits & Vegetables

  • Cereals & Grains

  • Oilseeds & Pulses

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia