Benzovindiflupyr Market Size, Share, Trends, Growth 2032

Benzovindiflupyr Industry Prospective:

The global benzovindiflupyr market size was worth around USD 96.76 million in 2023 and is predicted to grow to around USD 199.96 million by 2032 with a compound annual growth rate (CAGR) of roughly 8.40% between 2024 and 2032.

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Benzovindiflupyr Market: Overview

Benzovindiflupyr is a widely popular fungicide. It is known to be actively effective against several fungal diseases on crops and cereals. Further, the characteristic properties of benzovindiflupyr include insolubility in water and zero volatility. However, the persistence of benzovindiflupyr in aqueous systems and soil depends on local conditions. Research indicates that benzovindiflupyr is non-toxic to honeybees but the toxicity level is high to moderate for other elements of the biological world. In addition to this, the fungicide has shown a low leaching rate to underground water. If ingested, the chemical is known to have several health impacts on mammals. Benzovindiflupyr delivers performance by inhibiting mitochondrial functions.

The industry for benzovindiflupyr is expected to deliver a high growth rate due to the increasing rate of crop infestations globally. Additionally, a special focus on the growth of specialty crops or high-value fruits and vegetables may further promote the industry’s growth rate. One of the key limitations of benzovindiflupyr is its status of acting as a water contaminant and potential threat to living organisms, especially mammals. The significant expansion-based investments in the global fungicide industry hold novel growth possibilities for producers of benzovindiflupyr-based fungicides.

Key Insights:

• As per the analysis shared by our research analyst, the global benzovindiflupyr market is estimated to grow annually at a CAGR of around 8.40% over the forecast period (2024-2032)
• In terms of revenue, the global benzovindiflupyr market size was valued at around USD 96.76 million in 2023 and is projected to reach USD 199.96 million, by 2032.
• The benzovindiflupyr market is projected to grow at a significant rate due to the rise in the number of crop infestation cases
• Based on the application, the cereals & grains segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the type, the content of more than 97% segment is anticipated to command the largest market share
• Based on region, Europe is projected to dominate the global market during the forecast period

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Benzovindiflupyr Market: Growth Drivers

Rise in the number of crop infestation cases globally will promote the industry’s growth rate

The global benzovindiflupyr market is expected to grow due to the rising events of crop infestations worldwide. Recent research indicated that more than 14.01% of crop yield is lost due to plant pathogenic fungi. These incidents pose a severe threat to global food security as the demand for food products is consistently rising. Some of the common sources of crop fungal diseases include infected soil, seeds, weeds, infected nearby crops, and debris. Fungi can spread through the field through several ways including water splash and wind. Furthermore, it can spread through the movement of already infected machinery, animals, workers, and seedlings. In May 2023, researchers from the University of Exeter published a report. The study indicated that devastating fungal infections are wiping out crops at a rapid rate. Fungi are becoming more resilient. They can survive in the soil for more than 4 decades thus acting as a potential crop hazard for several years. In a recent survey, scientists claimed that a crop illness called blastomycosis, a rare fungal infection, is spreading to several parts of the US. The disease was earlier considered common in only certain parts of the Southeast and Midwest regions of the country. However, it is now known that the disease is quickly affecting other regions in the country as well.

Growing awareness among farmers about the importance of efficient fungicide application will drive market revenue

Farmers worldwide are becoming increasingly aware of crop illnesses and effective ways to prevent them. This is achieved through the rise in government-based initiatives aimed at driving crop awareness. For instance, in 2022, the European Commission introduced the ‘Farm to Folk’ strategy. It focuses on allowing food-related systems to be healthy, fair, and environmentally friendly. In addition to this, the introduction of digital systems including greater access to the Internet and smartphones, has helped cultivators come multiple steps closer to learning about several ways for preventing crop illnesses. Governments are constantly investing in agritech companies to create a harmonious ecosystem for agriculture and technology to work in tandem. These efforts are likely to fuel the global benzovindiflupyr market growth rate.

Benzovindiflupyr Market: Restraints

Competition from alternate fungicides will limit the industry’s growth rate

The global industry for benzovindiflupyr is expected to be restricted due to the growing competition from alternate fungicides. Currently, several other types of fungal infection treatments are available for all crops and grains. Some of the alternatives are more popular and widely known. For instance, one of the most commonly studied and used classes of fungicide is Triazole. In addition to this, the varying demand for benzovindiflupyr may be further interrupted due to a limited understanding of the fungicide and its applications.

Benzovindiflupyr Market: Opportunities

Surging use of benzovindiflupyr in combination with other ingredients may deliver significant growth possibilities

The global benzovindiflupyr market is expected to generate massive growth opportunities during the forecast period. One of the key drivers is the increasing development of combination benzovindiflupyr fungicides. These variants are stronger and showcase exceptional performance in managing highly resistant strains of crop fungi. In April 2023, leading global player Syngenta announced the launch of a new fungicide called Tuque™ exoGEM™ in the US market. The fungicide is made of a highly advanced succinate dehydrogenase inhibitor (SDHi) belonging to the Fungicide Resistance Action Committee (FRAC) Group 7, Benzovindiflupyr. The active ingredient is called SOLATENOL®. Tuque exoGEM is highly effective in managing snow rot. The product performs better when mixed with other fungicides produced by Syngenta. In 2020 the company launched three combination fungicides. They are Ascernity, Posterity Forte, and Posterity XT. Ascernity is produced as a combination product. It includes SDHi technology from Solatenol along with difenoconazole Demethylation inhibitor (DMI) technology.

Benzovindiflupyr Market: Challenges

Environmental hazards and changing regulatory laws may challenge the market expansion rate

The global industry for benzovindiflupyr is projected to be challenged by the severe environmental hazards associated with the use of fungicides. Benzovindiflupyr can affect non-target organisms leading to disruption of the ecosystem. Benzovindiflupyr fungicides are highly toxic to mammals. The changing regulatory environment globally concerning the use of synthetic crop protection may further affect the total revenue earned.

Benzovindiflupyr Market: Segmentation

The global benzovindiflupyr market is segmented based on application, type, and region.

Based on the application, the global market segments are fruits & vegetables, pulses & oilseeds, cereals & grains, and others. In 2023, the highest growth was witnessed in the cereals & grains segment. The wide application of benzovindiflupyr during the cultivation of essential crops and grains such as corn, barley, or wheat is driving the segmental demand. The increasingly growing incidents of crop yield affecting illnesses will fuel higher growth in the segment. Fungal diseases are projected to reduce global wheat production by 13% by 2050.

Based on the type, the benzovindiflupyr industry is divided into content 97% and content more than 97%. In 2023, the highest market share was registered in the content more than 97% segment. The superior performance shown by the variant is the key promoter of segmental demand. Additionally, it is used for creating other end-products with higher applications. As per official records, more than 85.01% of all crop illnesses are caused by fungi.

Benzovindiflupyr Market: Report Scope

Benzovindiflupyr Market: Regional Analysis

Europe to generate high revenue during the projection period

The global benzovindiflupyr market is projected to be led by Europe during the projection period. European nations such as Belgium, France, Austria, Spain, Finland, Slovenia, and Luxembourg have shown higher use of fungicides per hectare of arable land in 2023. Moreover, Europe has launched several new programs to sustain regional food security over the coming years. In addition to this, the regional players are focusing on developing benzovindiflupyr fungicides that are more powerful than the traditional variant. The increasing evolution of fungi strains affecting millions of crop units annually is promoting higher research & development. In August 2023, Bayer, a German multinational biotechnology and pharmaceutical company, announced the construction of a EUR 220 million research and innovation facility at the Monheim site. The investment is termed as the largest of its kind in the last 4 decades in Germany in the field of crop protection.

North America is projected to be led by the US and Canada regions. The growing food demand as well as a surge in investments in the food & beverages (F&B) industry is fueling the use of benzovindiflupyr fungicides. Higher awareness among cultivators about the number of fungicide options as well as optimal ways of benzovindiflupyr application will further promote the regional market demand.

Benzovindiflupyr Market: Competitive Analysis

The global benzovindiflupyr market is led by players like:

• UPL Limited
• AMVAC Chemical Corporation
• BASF SE
• Sumitomo Chemical Company
• Limited
• Corteva Agriscience
• Makhteshim Agan of North America (MANA)
• FMC Corporation
• Syngenta AG
• Shandong Weifang Rainbow Chemical Co. Ltd.
• ADAMA Agricultural Solutions Ltd.
• Bayer AG
• Rotam CropSciences Ltd.
• Nufarm Limited
• Sipcam Agro USA Inc.
• Albaugh LLC.

The global benzovindiflupyr market is segmented as follows:

By Application

• Fruits & Vegetables
• Pulses & Oilseeds
• Cereals & Grains
• Others

By Type

• Content 97%
• Content more than 97%

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa