Global Biofungicides Market to Grow at a CAGR of 14.5% in the Forecast Period of 2024-2032.

The North America region holds a significant share of the global biofungicides market due to the presence of a robust organic produce industry driven by the rising demand for organic food products. In the coming years, the Asia Pacific and Latin America are also expected to emerge as some of the major regions for biofungicides. The growth of the biofungicides market in these regions is driven by the adoption of integrated pest management practices and organic farming. Due to the increasing demand for food crops, primarily cereals, grains, fruit, and vegetables, the biofungicides market in the Asia Pacific is projected to expand at a rapid rate over the forecast period. The rising awareness among farmers of the benefits of bio-based agrochemicals is also increasing the demand for biofungicides in the Asia Pacific region.

In 2018, Marrone Bio Innovations, Inc. launched a series of biopesticides and biofungicides, including REGALIA CG, GRANDEVO, CG, and VENERATE CG in the United States, which are formulated to control highly destructive pests and diseases. Such product launches have impacted the market positively. The growing acceptance and adoption of the product have also positively influenced the market. In March 2021, ManKocide, a biofungicide and bactericide by Certis USA, a subsidiary of Mitsui & Co. (U.S.A.), Inc. (OTCMKTS: MITSY), was approved to be used on all tree nut crops by the California Department of Pesticide Regulation.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis by Source, Formulation, Application, and Region:

• Based on source, the market can be divided into microbial, biochemical, and plant-incorporated protectants.

• The market for biofungicides can be bifurcated into dry and liquid form based on its formulation.

• Biofungicides are used in a wide variety of applications, including cereals and grains, oilseeds and pulses, fruits and vegetables, and other applications.

• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

Key Findings of the Report:

• A key driver of the global biofungicides market is the adoption of integrated pest management practices and organic farming.

• The growth in the demand for organic fruits and vegetables has positively affected the biofungicides market.

• Biofungicides deliver better results on cereal and grain crops than chemical-based fungicides, since they can prevent a wide range of pathogens and pests. This is expected to provide a boost to the biofungicide market growth.

• The growth in gardening activities is expected to boost the biofungicides market.                     

Key Offerings of the Report:

• The EMR report presents an overview of the global biofungicides market for the periods 2018-2023 and 2024-2032.

• The report also offers the historical (2018-2023) and forecast (2024-2032) market information for the sources, formulations, applications, and regional markets of biofungicides.

• It also provides the regional price trends in the global biofungicide market for the periods (2018-2023) and (2024-2032).

Bayer AG, Gujarat State Fertilizers and Chemicals Ltd, FMC Corporation, Certis USA LLC, Symborg S.L., and Biotech International Ltd., among others, are the key players in the global biofungicides market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence companies, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and evergrowing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.