Biofungicides Market Research Report: Information by Type (Botanical and Microbial {Trichoderma, Streptomyces, Bacillus, Pseudomonas and Others}), Form (Powder, Liquid and Granules), Mode of Application (Seed Treatment, Soil Application, Foliar and Others), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

Biofungicides Market Scenario

Biofungicides Market size is expected to cross USD 4 Billion by 2026 at a CAGR of 16% during the forecast period of 2020 to 2026. The presence of several market players and buyers across the globe make the biofungicides market very competitive with tremendous growth potential. Biofungicide manufacturers are continually investing in their R&D activities to study, develop, and launch new microbial strains or biological compounds, like fungicides, for different crop applications. They are also focusing on expansion, mergers & acquisitions, and partnerships as their growth strategies to strive in this highly competitive and lucrative market.

Market Synopsis

Biofungicides are biologically active compounds or microbial strains that protect the plant against fungal pathogens. The biofungicides market is expected to register an impressive growth rate during the forecast period owing to the increasing loss of crop yield due to various fungal diseases. Additionally, the rising adoption of organic farming, especially in developed nations, is also fueling the market growth of biofungicides across the globe. Rising awareness amongst farmers regarding the benefits of using biofungicides over conventional pesticide products is also contributing significantly to boost the sale of biofungicides.

The biofungicides market is witnessing hurdles in its growth as farmers in the developing countries, such as African countries, refrain from using microbial inoculants as they do not show immediate impact like their conventional counterparts. Awareness regarding the long-term benefits of using biofungicides is low in such countries resulting in their lower adoption. Additionally, the frequent application of biofungicides in comparison to conventional fungicides is also negatively impacting the growth of the biofungicides industry.

Market USP

Rising adoption of organic farming

Market Drivers

• Growth of organic farming: Government support for the use of eco-friendly products and increasing production of organic produce are expected to increase the adoption of organic farming among the farmers during the forecast period. According to the Research Institute of Organic Agriculture (FiBL), the total world organic farmland was recorded at 69.8 million hectares in 2017, with organic farmland increasing by 11.7 million hectares from 2016. Additionally, there has been an increase in the number of organic producers, with approximately 2.9 million producers in 2017 as opposed to 2.7 million in the previous year. Thus, the increasing adoption of organic farming across the globe is projected to drive the growth of the global bio fungicides market at a significant rate.

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  Increasing government initiatives
  
  

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  Growing adoption of Integrated Pest Management (IPM)
  
  

Market Restraint

• Technological limitations

• Inability to show immediate impact

Segmentation

By Type

• Botanical

• Microbial: The microbial segment accounted for the larger share of the global biofungicides market in 2019. The segment is further bifurcated into Trichoderma, Streptomyces, Bacillus, Pseudomonas, and others. Microbial biofungicides are highly effective and do not impose any harm to the plants. Hence, they are widely used by farmers. Amongst the microbial biofungicides, Trichoderma accounted for the lion’s share in 2019 owing to its high tolerance against the pH of the soil and its high environmental diversity. Owing to the higher efficiency of microbial biofungicides than botanical counterparts, the microbial segment is expected to register a higher CAGR during the forecast period 2020-2026.

By Form

• Powder: In 2019, the powder segment accounted for the largest revenue share and is expected to register the fastest growth rate during the forecast period owing to its ease of application and production. Powdered biofungicides are available as wettable powders and can be easily mixed in any basic or acidic solution. They are easily applied either through foliar sprays or fertigation.

• Liquid

• Granules

By Mode of Application

• Seed Treatment

• Soil Application: It is the most common mode of application for biofungicides and hence, garnered the largest revenue share of the global biofungicides market in 2019. Biofungicides such as Trichoderma are widely used to fight against the fungal pathogens attacking the soil and root-zone area.

• Foliar

• Others

By Crop Type

• Cereals & Grains

• Oilseeds & Pulses

• Fruits & Vegetables: The segment accounted for the largest share of the biofungicides market in 2019 and is expected to register the highest CAGR during the forecast period. Increasing production of fruits & vegetables across the globe is among the major factors contributing to the high use of biofungicides. Additionally, horticultural crops such as fruits & vegetables are highly susceptible to various fungal diseases, resulting in tremendous yield loss. Hence, the application of biofungicides in fruits & vegetables is comparatively high. Some of the major fungal diseases occurring in vegetables are powdery mildews, Botrytis rots, Sclerotium rots downy mildews, Fusarium rots, anthracnose, rusts, Rhizoctonia rots, and Sclerotinia rots.

• Others

By Region

• North America: North America dominated the biofungicides market in 2019 by accounting for more than 30% of the market share. The rise in demand for organic food and food products, especially fruits & vegetables, has increased the need for biopesticides such as biofungicides. Additionally, increasing the adoption of integrated pest management in the region is also driving the growth of the regional market.

• Europe

• Asia-Pacific

• Rest of the World

Key Players

• 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)


• Stanes & Company Limited (India)


• Valent Biosciences (US)


• Certis U.S.A (US)


• Andermatt Biocontrol AG (Switzerland)


• Lesaffre (France)


• Rizobacter (Argentina)