Tokyo, Japan, May 16, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Biofungicides Market Information by Type, form, Mode of Application, crop type, and Region - Forecast till 2032”, 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.
Biofungicides Market Overview:
Biofungicides refer to a type of biological pesticide that is used to control or prevent fungal diseases in plants. They are composed of naturally occurring microorganisms, such as bacteria or fungi, that can colonize the surface of plant tissues or soil and suppress the growth of pathogenic fungi. With increasing concerns over the environmental impact of conventional pesticides, there is a growing demand for sustainable agricultural practices that rely on biological controls, such as bio fungicides. Biofungicides are considered a safer and more environmentally friendly alternative to conventional fungicides, as they do not leave harmful residues in soil or water and have minimal impact on non-target organisms.
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Report Scope:
| Report Attribute | Details |
| 2032 Market Size | 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 | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Form, Mode of Application, and Crop Type |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing emphasis on integrated pest management solutions |
| increase market demand by investing in research and development operations |
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
- Valent Biosciences
- Certis U.S.A
- Andermatt Biocontrol AG
- Lesaffre
- Rizobacter
Market USP Covered:
Market Drivers:
One driver of the bio fungicides market is the growing demand for sustainable and environmentally friendly agricultural practices. Conventional chemical fungicides have been associated with several environmental and health concerns, including the development of resistance to pathogens, negative effects on non-target organisms, and contamination of soil and water resources. Biofungicides offer a more sustainable and eco-friendlier alternative, as they are derived from natural sources such as bacteria, fungi, and plant extracts, and are generally considered safe for humans, animals, and the environment. The increasing awareness and concern about these issues among farmers, consumers, and regulatory authorities are expected to drive the demand for bio fungicides in the coming years.
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Market Restraints:
One major restraint of the bio fungicides market is their limited efficacy and inconsistent performance compared to chemical fungicides. Biofungicides may require multiple applications and higher doses to achieve the desired level of disease control, which can increase the cost and complexity of their use. They may also be more sensitive to environmental conditions such as temperature and moisture, which can affect their performance. Furthermore, the efficacy of bio fungicides can vary depending on the type of crop, disease, and application method, which can make it difficult for farmers to choose the right product and achieve consistent results. These factors may limit the adoption and market penetration of bio fungicides, especially in high-value crops where disease control is critical.
COVID 19 Analysis
The pandemic has increased the demand for food and agricultural products, as people have been stocking up on essentials and spending more time at home. This has led to increased demand for bio fungicides and other crop protection products to ensure the productivity and quality of crops. In addition, the pandemic has highlighted the importance of sustainable and resilient agricultural practices, which has further boosted the demand for bio fungicides as a safer and more eco-friendly alternative to chemical pesticides. On the other hand, the COVID-19 pandemic has also disrupted the supply chains and logistics of the bio fungicides market, leading to delays and shortages in some regions. The restrictions on international trade and transportation have affected the availability and pricing of raw materials, as well as the distribution and delivery of finished products. The closure of manufacturing facilities and disruption of field trials and research activities have also slowed down the development and commercialization of new fungicide products.
Market Segmentation
By Type
The types in the market include Botanical and Microbial {Trichoderma, Streptomyces, Bacillus, Pseudomonas, and Others}.
By Form
By Form, the segment includes Powder, Liquid, and Granules
By Mode of application
By mode of application, the segment includes Seed Treatment, Soil Application, Foliar, and Others.
By crop type
By crop type, the segment includes Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others
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Regional Insights:
In North America, the increasing demand for organic and sustainable food products has led to the adoption of bio fungicides by farmers and growers. The United States is the largest market for bio fungicides in North America, followed by Canada and Mexico. The U.S. Environmental Protection Agency (EPA) has approved several bio fungicides for use in the country, which has boosted their availability and adoption. The U.S. government's initiatives to promote sustainable agriculture and reduce the use of chemical pesticides have also supported the growth of the bio fungicides market in the region.
In Europe, the bio fungicides market is driven by strict regulations on the use of chemical pesticides and the growing awareness about the environmental and health hazards associated with them. The European Union (EU) has banned several chemical pesticides that have been deemed unsafe or harmful, which has created opportunities for bio fungicides and other biopesticides. Germany, France, Italy, and Spain are the largest markets for bio fungicides in Europe, while the UK is expected to become a significant market after leaving the EU.
In the Asia Pacific region, the bio fungicides market is driven by the increasing demand for food and agricultural products, the growing population, and the need for sustainable and eco-friendly agricultural practices. India, China, and Japan are the largest markets for bio fungicides in the region, while other countries such as Australia, New Zealand, and Indonesia are also experiencing growth. The increasing government support and investment in agriculture, as well as the rising awareness among farmers and consumers, are expected to drive the growth of the bio fungicides market in the region.
Industry New:
April 2021: Marrone Bio Innovations announced the acquisition of Pro Farm Technologies, a company specializing in the development of biological crop protection products. The acquisition is expected to strengthen Marrone Bio's position in the biopesticides and biofertilizers market, including bio fungicides.
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