Growing demand for food safety and shift towards organic farming practices to drive the global bio-fungicides market during the forecast period. According to TechSci Research report, “Global Bio-fungicides Market By Source, By Formulation, By Application, By Region, Competition, Forecast & Opportunities, 2024”, the global bio-fungicide market is expected to grow at a CAGR of around 14% during the forecast period.
Important elements of the Global Bio-fungicides Market
Bio-fungicides are witnessing adoption in the agriculture industry owing to their cost effectiveness and excellent performance in terms of pest & pathogens control and management. However, the low availability of bio-fungicide is likely to hamper the growth of the market during the forecast period.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on the “ Global Bio-fungicide Market“.
The global bio-fungicide market is segmented based on source, formulation, application, end-use, region, and company. Based on source, the market can be segmented into Microbial, Biochemical, and Plant Incorporated Protectants. The microbial segment holds a prominent share of the market and is also set to dominate the market during the forecast period.
This segment is highly lucrative owing to its cost-effectiveness, less toxicity, and easy availability. Based on formulation, the market can be bifurcated into dry and liquid formulations. The dry segment dominates the market since its properties and concentration are in accordance with the crop.
The liquid segment is projected to gain momentum during the forecast period on account of their safe and instant mode of application.
Major competitors in the Global Bio-fungicides Market
- Novozymes A/S
- Bayer Aktiengesellschaft
- BASF SE
- Certis U.S.A. L.L.C
- Koppert Biological Systems
- Syngenta AG
- Biotech International Ltd
- Marrone Bio Innovations Inc
- Gujarat State Fertilizers and Chemicals Ltd
- Isagro USA and others are some of the leading players operating in the global bio-fungicide market. The companies operating in the market are using organic strategies such as product launches, mergers, and collaborations to boost their share.
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“North America holds a prominent share in the global bio-fungicide market due to the rise in demand for organic food. Asia-Pacific is anticipated to grow at a considerable pace during the forecast period owing to the rising demand for food due to the increasing population, which is fueling the demand for efficient agrochemicals in the region.
Additionally, cost-effectiveness, efficient pest management, and initiatives taken by the government to increase the awareness and use of bio-fungicides is further driving Asia-Pacific bio-fungicide market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Bio-fungicides Market By Source, By Formulation, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of the global bio-fungicide 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 make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global bio-fungicide market.
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