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Global Bio-fungicide Market to Grow at a Significant Rate during Forecast Period

Growing demand for food safety and shift towards organic farming practices to drive global bio-fungicides market during 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. Bio-fungicides are witnessing adoption in agriculture industry owing to their cost effectiveness and excellent performance in terms of pest & pathogens control and management. However, low availability of bio-fungicide is likely to hamper the growth of the market during forecast period.

Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on " 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 in the market and is also set to dominate the market during the forecast period. This segment is highly lucrative owing to the 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 their 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. 

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 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 global bio-fungicide market due to rise in demand for organic food. Asia-Pacific is anticipated to grow at a considerable pace during the forecast period owing to rising demand for food due to the increasing population, which is fueling 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 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 take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global bio-fungicide market.

About TechSci Research

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