The new report by Expert Market Research titled, ‘Global Biofungicides Market Report and Forecast 2022-2027, gives an in-depth analysis of Biofungicides, assessing the market based on its segments like source, formulation, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 14.5%
Growth in the sustainable farming trends is one of the key factors for driving the biofungicides market globally. These are highly used in the cultivation of cereals, grains, fruits and vegetables, oilseeds, and pulses for pest control. The increasing shift of the consumers towards organic fruits and vegetables is increasing the demand for biofungicides. New product development and innovation policies in the biofungicides market have resulted in increased efficiency and crop yields thus, further aiding the industry growth.
Industry Definition
Biofungicides refer to the fungicides that contain the active ingredient of a microorganism and are used in crop control of fungal pathogens. The beneficial microorganisms (biofungicides) are isolated from soil and hinder the activity of plant pathogens. Biofungicides are free-living fungi, bacteria, or actinomycetes that are active in the root, soil, and foliar environments.
By source type, the market is segmented into:
• Microbial
• Biochemical
• Plant-incorporated Protectants
Based on formulation, the industry can be divided into:
• Dry
• Liquid
By application, the market can be bifurcated into:
• Cereals and Grains
• Oil Seeds and Pulses
• Fruits and Vegetables
The regional markets for the Global Biofungicides Market can be separated into:
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Italy
o Others
• Asia Pacific
o China
o Japan
o India
o ASEAN
o Australia
o Other
• Latin America
o Brazil
o Argentina
o Mexicoo Other
• The Middle East and Africa
o Saudi Arabia
o United Arab Emirates
o Nigeria
o South Africa
o Others
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Market Trends
Increasing awareness related to organic, and clean label products is gaining adoption all across the world which will increase the demand for biofungicides specially in the agricultural sector. By the incorporation of sustainable products, farmers are also able to increase their income which is a key motivating factor to the farmers for the adoption of biofungicides. Increasing consumer preference specially of millennials and generation Z towards the products derived from natural pest control will generate an enhanced demand for biofungicides and bioinsecticides.
Key Market Players
The major players in the market include Bayer AG, Gujarat State Fertilizers and Chemicals Ltd., FMC Corporation, Certis USA LLC, Symborg Corporate S.L, Biotech International Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
About Us:
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1,000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
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