Biofungicides - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Biofungicides Market is accounted for $1.35 billion in 2019 and is expected to reach $5.13 billion by 2027 growing at a CAGR of 18.1% during the forecast period. Growing demand for food safety and increasing R&D and partnerships among the market players are the major factors driving the market growth. However, lack of awareness of bio inputs is restraining the market growth.
Biofungicides refers to living organisms that are utilized to control the activity of plant pathogenic fungi and bacteria. Its idea depends upon observations of natural procedures where beneficial microorganisms, normally isolated from soil, hinder the activity of plant pathogens. These microorganisms produce a wide range of antibiotic substances and parasitize other fungi, etc.
Based on mode of application, the soil treatment segment is likely to have a huge demand as it is widely adopted due to the innovations in soil treatment strategies. Also, a majority of the infections occur in the soil and root area of the plant, which delays the plant growth and leads to its death due to which farmers adopt these solutions to ensure a healthy crop yield. By geography, North America is going to have a lucrative growth during the forecast period due to rise in the demand for organic food and adoption of modern farming techniques. U.S. is a key country for the market growth in the region.
Some of the key players profiled in the Biofungicides Market include Agri Life, BASF SE, Bayer AG, Bioworks Inc, Certis, De Sangosse Ltd, FMC Corporation, International Pannacea Ltd, IsAgro USA, Koppert Biological Systems, Lallemand, Marrone BioInnovations, Seipasa, Syngenta AG and The Stockton Group.
• Aqueous Solution
• Wettable Powder
• Microbial Species
• Plant Incorporated Protectants
Crop Types Covered:
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Turf & Ornamentals
• Other Species
Mode of Applications Covered:
• Soil Treatment
• Seed Treatment
• Foliar Spray
• Other Modes of Application
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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