North America: The Us Is One Of The Largest Markets For Biofungicidesby Mit K. SEO
The biofungicides market isprojected to grow at a CAGR of16.1% from 2020 to 2025.
The global biofungicides market size is estimated to account for USD 1.6billion in 2020 and is projected to grow at a CAGR 16.1%, to reach a value of USD 3.4billion by 2025. The increase in preference for organic farming practices and the rise in the adoption of integrated pest management practices are factors driving the growth of the market. The increasing awareness among farmers about the negative effects of synthetic plant protection products and the cost-effectiveness of biofungicides are also encouraging the adoption of these products across the globe.
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The microbial species segment, by type, is projected to be the fastest-growing in the biofungicides market during the forecast period
The increasing importance of sustainable agriculture and awareness among farmers about the toxicity of chemical fungicides and its harmful effects on the environment are some of the factors, due to which microbial biofungicides are becoming popular. The actions of microbial biofungicides are specific to target pests and do not harm beneficial microorganisms, which promotes the growth of the plant.
By crop type, the fruit & vegetables segment is projected to be the fastest-growing in the biofungicides market during the forecast period
Increasing demand for organic fruits and vegetables hasresulted in higher use of biofungicides in this segment. Biofungicides not only help in protecting the crops during the growing season but also show the extended activity of protection during post-harvest storage and transport.
By mode of application, the soil treatment is projected to dominate the biofungicidesmarket during the forecast period
One of the major advantages of using biofungicides as soil treatment is they ensure healthy seed germination by removing pathogenic fungal spores and mycelium that might be present in the soil. Increasing instances of the soil-borne fungal pathogen have led to a risein demand for soil treatment
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Leading players profiled in this report
· BASF SE (Germany)
· Bayer AG (Germany)
· Syngenta AG (Switzerland)
· FMC Corporation (US)
· Nufarm (Australia)
· Novozymes (Denmark)
· Marrone Bio Innovations (US)
· Koppert Biological Systems (Netherlands)
This report segmentsthebiofungicides marketonthe basis of type, form, species, crop type, mode of application,and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the biofungicidesmarket,the high-growth regions, countries, government initiatives, market disruption, drivers, restraints, opportunities, and challenges.
Created on Aug 28th 2020 08:53. Viewed 235 times.