New York, USA, July 19, 2023 (GLOBE NEWSWIRE) -- Biofungicides Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR),” Biofungicides Market Information By Type, By Form, By Mode of Application By Crop Type, and Region - Forecast till 2030”, Biofungicides Market could thrive at a rate of 16.00% between 2023 and 2032. The market size will be reaching around USD 4.94 billion by the end of the year 2032.
Market Synopsis:
Biofungicides are biological agents derived from living organisms that help control fungal diseases in crops. Unlike chemical fungicides, biofungicides work by utilizing naturally occurring microorganisms, such as bacteria and fungi, to suppress and inhibit the growth of fungal pathogens. These environmentally friendly alternatives offer effective and sustainable solutions for crop protection while minimizing the impact on the ecosystem and human health.
The uses and applications of biofungicides are widespread in agriculture. They are employed in various crops, including fruits, vegetables, cereals, and pulses, to combat fungal diseases such as powdery mildew, botrytis, and damping-off. Biofungicides can be applied preventively or curatively, either as seed treatments, foliar sprays, or soil drenches. They contribute to the overall disease management strategy, reducing the reliance on synthetic fungicides and supporting sustainable farming practices.
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Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 4.94 Billion |
| CAGR | 16.00% (2023–2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018-2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Market Competitive Landscape, Revenue Forecast, Growth Factors, and Trends |
| Segments Covered | By Type, Form, Mode of Application, and Crop Type |
| Geographies Covered | Asia Pacific, North America, Europe, and the Rest of the World |
| Key Market Drivers | Growing emphasis on integrated pest management solutions |
| Plant pathogens developing resistance to chemical fungicides |
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Market Competitive Landscape:
The Affluent Companies In The Biofungicides Industry Include
- BASF SE
- Bayer AG
- Syngenta AG
- FMC Corporation
- Nufarm
- Novozymes
- Marrone Bio Innovations
- Koppert Biological Systems
- Isagro S.P.A
- Stanes & Company Limited
- Among others.
June 2023: Bayer AG introduced a new biofungicide. The product harnesses a specific strain of beneficial bacteria to protect crops from a range of fungal pathogens. This advancement exemplifies the continuous efforts of market players to expand their biofungicide portfolios and provide farmers with effective and sustainable disease management solutions.
Market USP Covered:
Market Drivers:
Several factors drive the growth of the biofungicides market. Firstly, the increasing demand for organic and sustainable farming practices has fueled the adoption of biofungicides. Consumers are more conscious about the residues of synthetic chemicals in food, creating a market demand for environmentally friendly crop protection products. Secondly, stringent regulations and restrictions on the use of chemical fungicides have prompted farmers to explore biofungicide alternatives. Additionally, the growing awareness of the negative impacts of chemical pesticides on the environment and beneficial organisms has led to a shift towards bio-based solutions.
Market Restraints:
The biofungicides market faces certain restraints. Firstly, the efficacy of biofungicides can vary depending on environmental conditions and target pathogens. Achieving consistent and reliable control of fungal diseases may require integrated disease management strategies that combine biofungicides with other control measures. Secondly, the higher cost of biofungicides compared to synthetic fungicides can pose a challenge, especially for small-scale farmers with limited budgets. Education and awareness about the long-term benefits of biofungicides are essential to overcome these restraints.
COVID 19 Analysis:
The COVID-19 pandemic has had a mixed impact on the biofungicides market. On one hand, disruptions in supply chains and restrictions on agricultural activities affected the availability and distribution of biofungicide products. On the other hand, the pandemic has heightened awareness about food security, health, and sustainability, leading to increased interest in organic farming practices and bio-based crop protection solutions. Post-COVID, the biofungicides market is expected to witness steady growth as the focus on sustainable agriculture and resilient food systems intensifies.
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Market Segmentation:
By Type
The type of market include category in market Botanical and Microbial {Trichoderma, Streptomyces, Bacillus, Pseudomonas and Others}
By Form
The Form includes Powder, Liquid and Granules
By Mode of Application
The Mode of Application includes Seed Treatment, Soil Application, Foliar and Others
Regional Insights:
North America is a leading region in the biofungicides market, primarily due to its well-established agricultural sectors. The region has a strong focus on sustainable and organic farming practices, which has led to the increased adoption of biofungicides. Farmers in North America recognize the importance of reducing chemical inputs and preserving soil health, driving the demand for bio fungicides. Additionally, the presence of large-scale commercial farms and the availability of advanced agricultural technologies contribute to North America's significant market share.
Europe closely follows North America in the biofungicides market. The region has stringent regulations and restrictions on the use of chemical pesticides, pushing farmers towards alternative solutions such as biofungicides. The growing consumer demand for organic produce and the preference for sustainable farming practices further drive the adoption of biofungicides in Europe. The region has a well-established organic farming sector, and initiatives promoting organic agriculture have gained momentum. European farmers are increasingly integrating biofungicides into their disease management strategies to ensure crop health and meet consumer expectations.
The Asia Pacific region is experiencing rapid growth in the biofungicides market. Countries like India and China have expansive agricultural industries, and there is a growing emphasis on increasing food production while minimizing the environmental impact. Farmers in the region are recognizing the need for sustainable farming practices to ensure long-term productivity. The rising awareness of the adverse effects of chemical pesticides on human health and the environment has spurred the adoption of biofungicides in the Asia Pacific. Government initiatives and programs promoting sustainable agriculture also contribute to the market's expansion in the region.
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