The biofungicides
market is estimated to account for a value of USD 1.6 billion in 2020
and is projected to grow at a CAGR of 16.1%, to reach a value of USD 3.4
billion by 2025. The biofungicides market is projected to witness significant
growth due to the increasing demand for chemical residue-free and
environment-friendly products. Stringent government regulations and a
significant shift toward sustainable agricultural practices are factors that
are projected to decrease the use of chemical-based crop protection products.
By type, the biofungicides market has been segmented into
microbial species and botanical biofungicides. The microbial segment accounted
for the largest market share in 2020, in terms of value, being the most
preferred type due to a wide range of microbial species strains available in
the market.
The market for biofungicides, by form, has been segmented into
wettable powder, granules, and aqueous solution. The wettable powder segment
accounted for the larger share in 2020, in terms of value, in the biofungicides
market due to its higher shelf life and cost-effectiveness.
To know about the assumptions considered for the study download the pdf brochure
The market for biofungicides, by mode of application, has been
segmented into soil treatment, seeds treatment, and foliar spray. The market
was dominated by the soil treatment segment due to the increase in instances of
soil-borne fungal pathogens. Soil-borne fungal pathogens infect the root
systems of plants affecting its overall growth and yield.
Some of the major players in the biofungicides 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), BioWorks (US), The Stockton Group (Israel), Valnet
Biosciences (US), Agri Life (India), Certis U.S.A (US), Andermatt Biocontrol AG
(Switzerland), Lesaffre (France), Rizobacter (Argentina), Vegalab S.A (US),
Biobest Group NV (Belgium), and Biolchim (Italy). New product launches and
partnerships are some of the major strategies adopted by the leading players in
the biofungicides market to enhance their market presence by diversifying their
businesses geographically, strengthening their distribution networks, and
expanding their product portfolios.
Contact:
Mr.
Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
