WASHINGTON, March 28, 2023 (GLOBE NEWSWIRE) -- Global Bio-Fungicides Market is valued at USD 1.8 Billion in 2022 and is projected to reach a value of USD 4.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 15.5% over the forecast period 2023-2030.
Market Overview
Growing societal awareness of the negative impacts of synthetic agrochemicals, a growing preference for eco-friendly and natural products, and increased attention to technological advances, particularly in developing nations, will emerge as the key drivers supporting the market's expansion. Other significant elements promoting the expansion of the mark include strict government restrictions on synthetic-based fungicides, an increase in industrialization, and rising costs for research and development expertise about new product launches.
We forecast that the microbial species category in Bio-Fungicides market sales will account for more than 59% of total sales by 2028. Fungicides with a microbial origin are made of naturally occurring, live microorganisms like bacteria and fungi. Compared to other Bio-Fungicides, these fungicides are more efficient. Additionally, the simplicity of manufacturing microbial fungicides promotes their acceptance.
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Market Dynamics
Rising Environmental Concerns Drive the Growth of the Bio-Fungicides Market to Support Market Expansion
Farmers can control fungi and bacteria that cause plant diseases using Bio-Fungicides without harming the environment. In addition to the microbial component, the transport materials used to create Bio-Fungicides are made up of various organic substances, such as animal broth, organic substances, or organic waste items. Since they have no impact on the environment, Bio-Fungicides aid in the stability and sustainability of the agroecosystem.
Increasing Organic Farming Practices to Drive the Market Growth
Organic farming is being promoted more and more as a substitute for conventional farming practices to lessen agriculture's overall impact on the environment. Future growth of Bio-Fungicides is anticipated to benefit from a promising path to sustainable agricultural expansion and high demand for crop protection solutions. Countries are gradually transitioning from the green transition to the evergreen transformation, especially those with strong agricultural origins, like India, Thailand, the Netherlands, and Israel. Additionally, there is an increasing desire for organic food grown due to rising consumer demand, rising income levels, and modern farming techniques that make natural harvests more dynamic.
Top Players in the Global Bio-Fungicides Market
- BASF SE (Germany)
- Bayer AG (Germany)
- Syngenta AG (Switzerland)
- FMC Corporation (U.S.)
- Unfirm (Australia)
- Novozymes (Denmark)
- Marron Bio Innovations (U.S.)
- Koppers Biological Systems (Netherlands)
- Segro S.P.A (Italy)
- Stans & Company Limited (India)
- Valent Biosciences (U.S.)
- Curtis U.S.A (U.S.)
- Ander Matt Biocontrol AG (Switzerland)
- Leadfree (France)
- Rhizobacteria (Argentina)
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Top Trends in Global Bio-Fungicides Market
- One trend that Vantage Market Research (VMR) expects to see in the Bio-Fungicides industry is a high preference for the dry formulation of Bio-Fungicides. Due to the longer impact duration of dry Bio-Fungicides compared to liquid Bio-Fungicides and improved infection control, this category holds a significant market share. The significant demand for Bio-Fungicides in the dry formulation is ascribed to flexible usage, increased shelf life, and cheaper prices.
- Another trend that VMR predicts will continue in the Bio-Fungicides industry is the adverse effects of synthetic pesticides on the environment and human health. Environmental harm from using synthetic pesticides has been extensively and widely demonstrated. Synthetic fungicides can negatively impact soil organisms, including worms and microbes. Important organic matter processes, such as biological degradation and nutrient cycling, are to blame. Thus, any negative impacts brought on by mold leftovers may have a long-term impact on agricultural soils' fertility and general well-being. The residue of a synthetic fungicide the structure of biodiversity and the operation of the aquatic system could be adversely affected by synthetic fungicides. Several governments support and provide financing to boost the usage of organic agricultural practices to lessen the negative effects of pesticides on the environment.
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Top Report Findings
- Based on Types, the Microbial Fungicides category controls most of the Bio-Fungicides market's revenue. Most of the organic and residue-free food production uses microbial fungicides. Additionally, the need for microbial Bio-Fungicides is driven by their better advantages of selectivity, high effectivity, minimum to no negative effects on people, plants, and animals, and ease of application.
- Based on Species, most of the Bio-Fungicides market's revenue is controlled by the Trichoderma category. Because of its vast environmental variety and a strong tolerance for soil ph. Because these Bio-Fungicides are more effective than their botanical equivalents, the bacillus sector is anticipated to experience a higher CAGR throughout the forecast period.
- Based on the mode of Applications, most of the Bio-Fungicides market's revenue is controlled by the Seed Treatment category. The protection of seeds and seedlings from soil- and seed-borne illnesses, as well as insect infestation that hinder crop emergence and development, is a key function of seed treatment. Effective extension strategies, making the appropriate cannabinoid pesticides/bio-pesticides and devices obtainable to farmers, as well as educating them on seed treatment procedures, post-treatment management of seeds, and seeding materials are necessary for farmers around the world to adopt this method.
- Based on Crop Types, most of the Bio-Fungicides market's revenue is controlled by the Fruits & Vegetables category. Blight, particularly early blight or Bipolarism, is one of fruit and vegetable crops' most prevalent fungal diseases. Black patches on the leaves, followed by drying of the leaves and patches on the fruits, are signs of early blight. Fungicides are also used to combat fungal infections that affect plants that produce vegetables and fruits and mildew like downy mildew.
- Based on the form, most of the Bio-Fungicides market's revenue is controlled by the wettable Bio-Fungicides category. The wettable powder form is well-liked on the market because of its versatility in application, long shelf life, and low cost. Farmers can use the wet powder to foliar spray plants or as a direct sprayer on the ground. Additionally, it can be combined with seeds before planting, or it can be combined with any liquid and sporadically sprayed over the soil. The benefits of wettable Bio-Fungicides have made them quite popular among other types on the market.
Recent Developments in the Global Bio-Fungicides Market
- August 2021- Taegro, a new bio fungicide from Syngenta AG, was introduced with the intention of defending horticultural plants and vines against diseases including powdery mildew and gray rot. The Product is made from the naturally occurring Bacill species.
- April 2020- Marlon introduced a bio fungicide called Pacesetter for crops like maize, soybeans, and wheat. Renteria extract, the main component, enhances plant health when used with conventional fungicides.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Bio-Fungicides Market Forecast Report (2023-2030).
Fruits & Vegetables Category in Bio-Fungicides Market to Generate the Major Global Revenue in terms of Crop Types
For better understanding, based on the Crop Types, the Bio-Fungicides market is divided into Fruits & vegetables, Corals & Grains, Oilseeds & Pulses and Other Crops.
During the forecast period, the market for Bio-Fungicides is anticipated to experience the highest CAGR for the Fruits & Vegetables category. It is anticipated that more organic farmers will employ Bio-Fungicides due to the rising production of cereal and grain, which is used as a global staple and offers significant returns on investment. Furthermore, horticultural products like fruits and vegetables are extremely vulnerable to various fungi diseases, drastically reducing productivity. As a result, fungicide use in fruits and vegetables is relatively high.
On the other hand, the Cereals & Grains category are anticipated to grow significantly. The usage of Bio-Fungicides has increased in this industry due to the rising demand for organic cereals and grains on a global scale. Farmers no longer use pesticide fungicides because of the serious health risks associated with synthetic goods.
North America Region in Bio-Fungicides Market to Generate almost half of the Global Revenue
North America is projected to dominate the market throughout the projection period. The significant market share held by North America is mostly attributable to elements including the expansion of organic food demand, the expedited registration process, and growing environmental concerns about using hazardous chemicals. The presence of several important companies in the North further fuels the expansion of this regional market.
The Asia Pacific region holds the second largest share in the market during the forecast period. The significant market growth is attributable to rising consumer demand for organic products, higher government activities to encourage bio-control products and increasing customer demand for food safety and quality.
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Global Bio-Fungicides Market Segmentation
Based on Types
- Microbial species
- Botanical
Based on Forms
- Wettable Powder
- Aqueous Solution
- Granules
Based on Species
- Bacillus
- Trichoderma
- Streptomyces
- Other Species
Based on Applications
- Foliar spray
- Soil treatment
- Seed treatment
- Other Applications
Based on Crop Types
- Fruits & Vegetables
- Corals & Grains
- Oilseeds & Pulses
- Other Crops
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 1.8 Billion |
| Revenue Forecast by 2030 | USD 4.9 Billion |
| CAGR | 15.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | BASF SE, Bayer AG, Syngenta AG, FMC Corporation, Unfirm, Nufarm, Novozymes, Marron Bio Innovations, Koppers Biological Systems, Segro S.P.A., Stans & Company Limited, Valent Biosciences, Curtis U.S.A, Ander Matt Biocontrol AG, Leadfree, Rhizobacteria |
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Key Questions Answered in the Bio-Fungicides Market Report are:
- What is the current size of the bio-fungicides market, and what is its projected growth rate?
- What are the key factors driving the growth of the bio-fungicides market?
- What are the major types of bio-fungicides available in the market, and what are their respective market shares?
- What are the major application areas for bio-fungicides, and which ones are expected to see the highest growth rates?
- Who are the major players in the bio-fungicides market, and what are their market shares and competitive strategies?
- What are the major trends and developments in the bio-fungicides market, and how are they expected to impact the market in the future?
- What are the major challenges faced by the bio-fungicides market, and what are the possible solutions to overcome them?
- What are the major regulatory frameworks governing the use of bio-fungicides, and how are they expected to impact the market?
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