MarketsandMarkets™The biofungicides market is estimated to account for USD 1.6 billion in 2020 and is projected to grow at a CAGR 16.1% from 2020, to reach a value of USD 3.4 billion by 2025The 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.
By species, Trichoderma is projected to dominate the biofungicides market during the forecast period.
The market for biofungicides, on the basis of species, has been segmented into Bacillus, Trichoderma, Pseudomonas, and Streptomyces. Trichoderma is used as the most effective strain in controlling soil-borne and foliar fungal pathogens.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8734417
By mode of application, the soil treatment segment is projected to be the fastest-growing in the biofungicides market during the forecast period
Soil treatment is the most adopted mode of application for biofungicides due to the advancements in soil treatment techniques. In addition, a majority of the fungal infections happen in the soil and root zone area of the plant, which delays the plant growth and eventually leads to plant death. Therefore, farmers adopt soil treatment solutions to ensure a healthy crop yield.
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 shift toward sustainable agriculture and the presence of key players in the North American region are factors that are projected to drive the growth of the biofungicides market.
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.
Request Sample Pages of the Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=8734417
Key Market PlayersKey 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).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/biofungicide-market-8734417.html
