Covina, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Biofungicides are a type of biological pesticide specifically designed to control fungal diseases in crops and plants. Unlike chemical fungicides, biofungicides are derived from natural microorganisms, such as bacteria, fungi, and viruses, or naturally occurring compounds. They offer an environmentally friendly and sustainable alternative for managing fungal pathogens that cause plant diseases.
The demand for pesticide-free and organic produce is driving growth in the organic farming sector. A key tool in organic farming, Biofungicides market are projected to become more widely used in the future.
Key Highlights –
- In August 2023, FMC launched Entazia biofungicide in India. Farmers are given a strong and long-lasting instrument by ENTAZIA to safeguard their crops from fungus while upholding environmental purity. By utilizing Bacillus subtilis inherent skills, this ground-breaking solution combats one of the most dangerous illnesses to affect rice: bacterial leaf blight.
Analyst View –
To safeguard the environment and public health, governments and regulatory agencies are putting more stringent restrictions on the use of chemical pesticides. The introduction of biofungicides is favored by the current regulatory environment. Crop production and quality are still seriously threatened by fungus diseases.
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Biofungicide Market future outlook Market Growth:
- Growing Demand for Sustainable Agriculture: As awareness of environmental sustainability and the need for reduced chemical pesticide use continues to rise, there is a strong and growing demand for biofungicides. Farmers are seeking environmentally friendly solutions that are safe for consumers, farmworkers, and beneficial organisms.
- Expansion of Organic Farming: Biofungicides are an essential component of organic farming practices. As the organic food market continues to grow, so does the demand for biofungicides as a key tool for disease management in organic crop production.
- Regulatory Support: Governments are increasingly promoting and regulating the use of biopesticides, including biofungicides, as a safer and more sustainable alternative to chemical pesticides. This support is expected to drive market growth.
- Advancements in Biotechnology: Ongoing advancements in biotechnology, including genetic engineering and the development of more effective biocontrol agents, will lead to the introduction of more potent and versatile biofungicides.
- Microbial and Botanical Solutions: Biofungicides based on beneficial microorganisms (such as bacteria and fungi) and plant extracts are expected to gain traction. These natural solutions provide a broad spectrum of disease control.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Application - Grains and Cereals, Oilseeds, Fruits and Vegetables, and Other Applications |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Key players:
- BASF SE
- DuPont
- Monsanto
- Marrone BioScience
- Bioworks Inc.
- Isagro
- Certis
- Koppert Biological Systems
- Syngenta AG
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Biofungicide Market FUTURE OUTLOOK:
- Increased Demand for Sustainable Agriculture: Growing awareness of the environmental impact of chemical pesticides and the demand for safer, more sustainable farming practices will continue to drive the adoption of biofungicides.
- Expansion of Organic Farming: Biofungicides are integral to organic farming practices, which are on the rise globally. As more consumers choose organic products, the demand for biofungicides will grow.
- Regulatory Support: Governments worldwide are increasingly recognizing the benefits of biofungicides and are implementing regulations that promote their use. This regulatory support will facilitate market growth.
- Biotechnological Advancements: Ongoing advancements in biotechnology will lead to the development of more effective and targeted biofungicides. These innovations will enhance disease management in a broader range of crops.
- Global Market Expansion: The adoption of biofungicides is not limited to developed countries; emerging economies are also embracing these products. This global expansion will significantly contribute to market growth.
- Microbial and Botanical Solutions: Biofungicides based on beneficial microorganisms (such as bacteria and fungi) and plant extracts will continue to gain prominence due to their efficacy and safety.
- Customized Solutions: Tailored biofungicide solutions for specific crops, diseases, and regions will become more prevalent. Customization will improve the effectiveness of disease control.
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