Biofungicides Market size worth $ 5.28 Billion, Globally, by 2028 at 16.1% CAGR: Verified Market Research®
The increase in demand for organic fruits and vegetables, increased applications for soil treatment, the rise in the use of biofungicides instead of chemical fungicides is driving the growth of the Biofungicides Market.
JERSEY CITY, N.J., March 9, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Biofungicides Market” By Type (Microbial Species, Botanical), By Form (Wettable Powder, Aqueous Solution), By Crop Type (Fruits and Vegetables, Cereals and Grains), By Application (Foliar Spray, Soil Treatment), and By Geography. According to Verified Market Research, the Global Biofungicides Market size was valued at USD 1.6 Billion in 2020 and is projected to reach USD 5.28 Billion by 2028, growing at a CAGR of 16.1% from 2021 to 2028.
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Browse in-depth TOC on “Biofungicides Market“
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Global Biofungicides Market Overview
The increase in demand for organic fruits and vegetables globally has driven the demand for biofungicides. Resulting in potential health concerns, framers are no longer using chemical-based fungicides. As a pest control measure, biofungicides are employed in the cultivation of cereals, grains, fruits and vegetables, oilseeds, and pulses. Biofungicides are especially effective at controlling fungi in fruits and vegetables, as well as cereal and grain crops. The demand for organic food is being driven by advancements in crop protection technologies and a movement in consumer preferences toward more nutritional and healthy diets.
This has increased demand for organic fruits and vegetables, as well as food grain crops. Biofungicides are also commonly used on turfs and grasses to control fungi-caused infections. The industry is predicted to develop owing to a shift in consumer demand for organic fruits and vegetables. The primary benefits of biofungicides are their longer shelf life and affordable prices for organic products, which has resulted in stronger demand for wettable powdered form in the biofungicides industry. Additionally, they are being used more frequently in soil treatment applications that fuel the market growth of the market.
- October 2020: Syngenta Crop Protection, a business segment of Syngenta Group, has announced the acquisition of Valagro, a leading Biological company. Syngenta Crop Protection is now one of the leading worldwide firms positioned to impact the rapidly expanding Biological market, which is expected to nearly double in size over the next five years. Within the Syngenta Crop Protection division, Valagro will continue to operate as an independent brand.
- March 2021: FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, announced today that it has formed a new collaboration with UPL Ltd., a global provider of sustainable agriculture products and solutions, to expand Rynaxypyr® active access to growers worldwide and increase manufacturing capacity for this critical molecule.
The major players in the market are BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), FMC Corporation (US), Nufarm (Australia), Novozymes (Denmark), Marrone Bio Innovations (US), Koppert Biological Systems (Netherlands), Isagro S.P.A(Italy), T. Stanes& Company Limited (India).
Verified Market Research has segmented the Global Biofungicides Market On the basis of Type, Form, Crop Type, Application, and Geography.
- Biofungicides Market, By Type
- Microbial Species
- Biofungicides Market, By Form
- Wettable Powder
- Aqueous Solution
- Biofungicides Market, By Crop Type
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
- Other Crops
- Biofungicides Market, By Application
- Foliar Spray
- Soil Treatment
- Seed Treatment
- Biofungicides Market By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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