The Bio-fungicide market size is anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to rapid development in food industry, increasing demand for high yield crops, increased concern about environment, and growing environmental regulations.
Bio-fungicides is a mixture that are used to control the functions of bacteria and plant pathogenic fungi. Observations of natural processes where useful microbes, isolated from soil hamper the functions of plant pathogens on this fact the concept of bio-fungicides is based on. Biocontrol microbes are actinomycetes, bacteria, and free-living fungi that are found in root, foliar environments, and soil. These microbes compete with other fungi, generate localized & systemic resistance in plants, parasitize other fungi, and create a wide range of antibiotic substances.
The covid-19 pandemic affected the demand and supply of the bio-fungicide market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increased demand for bio-fungicide is projected to boost the market.
- Increasing research funding for agriculture sector is the major factor fueling the market.
- Low adaptation rate and high cost of bio-fungicide is anticipated to restrict the market expansion during the forecast period.
- Lack of awareness about bio-fungicide among farmers is estimated to hamper the market growth in the coming years.
- R&D investment and technological advancement in bio-fungicide market is projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the bio-fungicide market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Bio-fungicide Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Applications (Grains & Cereals, Oilseeds, Fruits & Vegetables, and Others), Formulations (Liquid formulations and Dry Formulations), Types [Organic Residues and Microorganism]
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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IsAgro USA; Syngenta AG; Lallemand; Koppert Biological Systems; Certis USA LLC; Bioworks Inc.; The Stockton Group; Marrone Bioinnovations; International Pannacea Ltd; Seipasa; De Dargosse Ltd.; Biotech International Ltd.; FMC Corp.; Casmson Bio Technologies Ltd.; Monsanto Company; Bayer Cropscience AG; DOW Chemical Company; and BASF SE
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Market Segment Insights
The fruit & vegetables segment accounts for a key share of the market
Based on applications, the bio-fungicide market is fragmented into grains & cereals, oilseeds, fruits & vegetables, and others. The fruit & vegetables segment accounts for a key share of the market. Growth of the market is attributed to increasing adaptation of organic farming methods, growing population, and increasing crop production. However, the grains & cereals segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rapid expansion of organic food industry, increasing demand for biofertilizers, and rising consumption of organic food.
The dry formulations segment accounts for a significant share of the market
On the basis of formulations, the bio-fungicide market is segmented into liquid formulations and dry formulations. The dry formulations segment accounts for a significant share of the market. Growth of the market is attributed to increasing supply of quality products and rising cost of chemical fertilizers. The liquid formulations segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing customer preferences towards organic methods of cultivation, increasing availability of arable land, and increased research funding for agriculture sector.
The microorganism segment accounts for a key share of the market
Based on types, the market is bifurcated into organic residues and microorganism. The microorganism segment accounts for a key share of the market. Growth of the market is attributed to growing demand for food safety and easy registration procedure of bio-fungicides. The organic residues segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing development & research, partnership among the market players, and increasing usages of bio-fungicides.
The market in North America is estimated to hold a key market share
On the basis of region, the bio-fungicide market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is estimated to expand at a high CAGR during the forecast period due to rapid economic growth in region and encouragement from government organizations. The market of North America is estimated to hold key market share due to increasing population, rising preference for organic cultivation methods, and increasing demand for premium quality crops.
Segments
The bio-fungicide market has been segmented on the basis of
Applications
- Grains & Cereals
- Oilseeds
- Fruits & Vegetables
- Others
Formulations
- Liquid Formulations
- Dry Formulations
Types
- Organic Residues
- Microorganism
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- IsAgro USA
- Syngenta AG
- Lallemand
- Koppert Biological Systems
- Certis USA LLC
- Bioworks Inc.
- The Stockton Group
- Marrone Bioinnovations
- International Pannacea Ltd
- Seipasa
- De Dargosse Ltd.
- Biotech International Ltd.
- FMC Corp.
- Casmson Bio Technologies Ltd.
- Monsanto Company
- Bayer Cropscience AG
- DOW Chemical Company
- BASF SE
Competitive Landscape
Key players competing in the bio-fungicide market include IsAgro USA; Syngenta AG; Lallemand; Koppert Biological Systems; Certis USA LLC; Bioworks Inc.; The Stockton Group; Marrone Bioinnovations; International Pannacea Ltd; Seipasa; De Dargosse Ltd.; Biotech International Ltd.; FMC Corp.; Casmson Bio Technologies Ltd.; Monsanto Company; Bayer Cropscience AG; DOW Chemical Company; and BASF SE
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
