Bio-fungicides Market to Grow with a CAGR of 11.68% through 2028
Rapid growth of the agricultural sector in developing
countries and increase in the incidence of crop diseases is expected to drive
the Global Bio-fungicides Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Bio-fungicides
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Bio-fungicides Market stood at USD 1.72 Billion in 2022 and is
anticipated to grow with a CAGR of 11.68% in the forecast period, 2024-2028. The global
bio-fungicides market is driven by several factors. One of the primary drivers
is the growing awareness about the harmful effects of chemical pesticides,
pushing farmers towards more eco-friendly and sustainable alternatives like
bio-fungicides. The rise in organic farming practices globally also contributes
to the demand.
Additionally, governmental support and favorable
regulations for bio-based products, coupled with advancements in bio-fungicides
production technology, further stimulate the market growth. Finally, the
increasing incidence of crop diseases and the need for effective solutions
propels the demand for bio-fungicides.
The global bio-fungicides market is currently
experiencing a period of robust growth, driven by the surging consumer demand
for organic food and the increasing adoption of sustainable farming methods.
This market encompasses a wide array of agricultural sectors, including
crop-based applications such as fruits, vegetables, cereals, and pulses, as
well as non-crop-based applications like turf, ornamental plants, and
greenhouse crops. Geographically, the market spans across North America,
Europe, Asia-Pacific, Latin America, and the Middle East and Africa, showcasing
its widespread reach and global significance. Within these regions, developing
nations are witnessing particularly significant market growth due to the rising
awareness of the detrimental effects of chemical pesticides on human health and
the environment.
As a result, farmers and consumers in these regions
are increasingly prioritizing the use of environmentally-friendly solutions for
crop protection, leading to an increased adoption of bio-fungicides. These
bio-fungicides are derived from natural sources and offer an effective
alternative to chemical pesticides. The demand for bio-fungicides is driven not
only by their effectiveness in controlling fungal diseases but also by their
ability to enhance soil health, promote plant growth, and improve overall crop
productivity. Furthermore, the growing emphasis on sustainable agriculture
practices and the need for residue-free food further contribute to the
expanding market for bio-fungicides. Consumers are becoming more conscious of
the environmental impact of chemical pesticides and are actively seeking
organic food options. This has led to a significant increase in consumer
preference for bio-fungicides and other organic crop protection methods.
The global bio-fungicides market is witnessing a
significant growth trajectory, fueled by the increasing consumer preference for
organic food, heightened awareness of the environmental impact of chemical
pesticides, and the adoption of sustainable farming practices. The market's
reach extends beyond developed nations, with developing countries also showing
a rising awareness of the benefits of bio-fungicides. These countries are now
actively incorporating bio-fungicides into their farming practices to ensure sustainable
and eco-friendly crop protection. Overall, the multiple benefits of
bio-fungicides, coupled with the rising awareness in developing nations and the
growing demand for organic food, indicate that the bio-fungicides market holds
immense potential for the development of innovative and environmentally-friendly
solutions. Industry players have the opportunity to contribute to a more
sustainable future for agriculture by developing and introducing new
bio-fungicide products that address the evolving needs of farmers and align
with the principles of sustainable farming.
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The Global Bio-fungicides Market is segmented into
source, formulation, application, regional distribution, and company
Based on source, Microbial bio-fungicides, with their
remarkable effectiveness and environmental benefits, are emerging as the
dominant segment in the global bio-fungicides market. These innovative
biological fungicides are typically derived from bacteria or fungi, harnessing
the power of nature to combat a wide range of plant pathogens. By offering
effective control and reducing the reliance on chemical fungicides, microbial
bio-fungicides contribute to sustainable farming practices. What sets them
apart is their ability to selectively target harmful organisms while being less
harmful to beneficial organisms, ensuring a balanced ecosystem. This aligns
perfectly with the global push towards sustainable agriculture, where the focus
is on minimizing the impact on the environment and promoting the well-being of
both humans and nature. With increasing public concern over food safety and the
environmental impact of synthetic pesticides, the demand for microbial
bio-fungicides is witnessing significant growth. These bio-fungicides not only
provide an effective solution but also offer a safer and more sustainable
alternative in the quest for a healthier and greener future.
Based on region, in the Global Bio-fungicides Market,
North America is currently dominating due to several key factors. The region
boasts a well-developed agricultural industry that embraces sustainable farming
practices through the adoption of advanced technologies. This includes
precision farming techniques, such as remote sensing and GPS-guided machinery,
that optimize resource allocation and minimize environmental impact.
Additionally, North America has a robust network of agricultural research
institutions and extension services that provide farmers with the latest
knowledge and expertise in bio-fungicide application. This collaborative
approach ensures that farmers have access to cutting-edge solutions tailored to
their specific needs. Furthermore, the increased awareness and implementation
of stringent regulations towards environmental safety have prompted a
significant shift from traditional chemical fungicides to eco-friendly
bio-fungicides. This transition has been driven by the recognition of the long-term
benefits of bio-fungicides in reducing the ecological impact of agricultural
practices. North America has been at the forefront of this movement, with
proactive measures taken by regulatory agencies to promote the use of
bio-fungicides and incentivize their adoption. These measures include tax
incentives, grants, and subsidies for farmers who incorporate bio-fungicides
into their crop protection strategies.
Moreover, North America's research and development
facilities are at the cutting edge of innovation, with substantial financial
support for biotechnological research. This has led to the development of
highly effective bio-fungicides with improved efficacy and environmental safety
profiles. Collaborations between academia, industry, and government agencies
have fostered a fertile environment for research and innovation, resulting in
the continuous improvement and advancement of bio-fungicides in the region.
Major companies operating in Global Bio-fungicides Market
are:
- Andermatt Group AG
- Biolchim SPA
- Bioworks Inc.
- Certis USA LLC
- Corteva Agriscience
- Indogulf BioAg LLC
- Koppert Biological Systems Inc.
- Lallemand Inc.
- Marrone Bio Innovations Inc.
- Seipasa SA
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“The global bio-fungicides market is projected to
experience significant growth in the future. This can be attributed to an
increasing demand for organic food products, coupled with rising awareness
about the harmful effects of chemical pesticides. Moreover, numerous
governments worldwide are promoting the use of bio-fungicides through various
incentives and regulations designed to reduce the environmental footprint of
agricultural practices. Advancements in biotechnology are also expected to
expand the product range and effectiveness of bio-fungicides, further
propelling market growth.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Bio-fungicides Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented By Source (Microbial, Biochemical and Plant
Incorporated Protectants), By Formulation (Dry and Liquid), By Application
(Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf
& Ornamental and Others), By Region and Competition”, has evaluated
the future growth potential of Global Bio-fungicides Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Bio-fungicides Market.
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