Fruits & Vegetables Segment is projected to be the fastest-growing in the biofungicides market by 2025

Biofungicides Market by Type (Microbial species, Botanical), Mode of Application (Soil treatment, Foliar application, Seed treatment), Species (Bacillus, Trichoderma, Streptomyces, Pseudomonas), Crop Type, Formulation, and Region – Global Forecast to 2025

(EMAILWIRE.COM, September 16, 2021 ) The global biofungicides market is estimated to account for a value of USD 1.6 billion in 2020 and is projected to grow at a CAGR 16.1%, to reach a value of USD 3.4 billion by 2025.

The increase in demand for organic food products, stringent government regulation against the use of chemical-based crop protection methods, and the growing awareness among farmers about the benefits of adopting biofungicides are some of the factors that are projected to drive the growth of the market. New product launches and partnerships were the dominant strategies adopted by key players to capitalize on the strong market potential.

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Biofungicides are used in almost all the crop segments. Their dosage, active ingredients, and application rates vary from crop to crop. Biofungicides are predominantly applied in fruits and vegetables followed by cereal crops, pulses and oilseeds. Turf and ornamentals are also becoming an important segment where the biofungicides are applied for effective pest control. The leading crop segments are ranked below by their application.

By crop type, the fruits & vegetables segment is projected to be the fastest-growing segment in the biofungicides market during the forecast period
The rising demand for organic fruits and vegetables globally has resulted in an increase in the use of biofungicides in the segment. Framers are now discarding the use of chemical-based biofungicides due to the harmful health concerns associated with synthetic products.

The North American region is one of the largest producers of organic fruits and vegetables. In addition, the increasing use of integrated pest management solutions is projected to drive the market growth of biofungicides in the region.

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Key players in the biofungicides market include 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), Valent 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).

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