Biofungicides Market Size, Share, and Industry Report 2031

Report Description

Biofungicides Market Outlook 2031

The global biofungicides market size was valued at USD 1.98 Billion in 2022, is anticipated to reach USD 7.65 Billion by 2031, and is expected to expand at a CAGR of 16.2% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing awareness among farmers about the benefits of adopting biofungicides. 

Biofungicides refers to the formulation of microorganism that controls the activity of plant pathogenic bacteria and fungi. Biofungicides are made up of fungi and bacteria that colonize and assail plant pathogens. Moreover, biofungicides refer to those fungicides which contain a microorganism as the active ingredient.

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Biofungicides are used for the control of fungal pathogens in crops. Microorganisms are naturally found in soil, air, and water. Micro-organism is an environment-friendly alternative to chemical fungicides. Biofungicides are easily decomposed by plants, sunlight, or various soil microorganisms. Biofungicides utilize to increase the fertility of the land and prolong the life of flowers and fruits.

Biofungicides are used as pest control in the cultivation of grains, cereals, fruits & vegetables, and pulses & oilseeds. Moreover, fungal infections happen in the soil and root zone area of the plant that affect plant growth and eventually lead to plant death. According to the Organic Trade Association, around 82% of households in the United States buy organic food. Also, the organic food market in India registers a CAGR of 25%. 

COVID-19 Impact on Biofungicides Market 

The COVID-19 pandemic negatively impacted economies globally. The pandemic resulted in reduced operations, closure of production facilities, and reduce demand from farmers. Nationwide lockdowns are implemented and various industries were affected due to severe labor shortages.

Furthermore, the implementation of nationwide lockdowns to curb the spread of infection impacted several industries globally, including agriculture and crop protection. In the first quarter of 2020, biofungicides market registered a strong decline in sales due to disruptions in the logistics sector.  

Biofungicides Market Dynamics 

The report presents a complete market overview, and market dynamics by focusing on the current market trends, existing drivers, growth opportunities, and emerging challenges that shape the outcome or overall performance of the market during the forecast period, 2022 to 2030. 

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Major Drivers:

Rising demand for natural alternatives compared to synthetic fertilizers 

The research report finds that the rising demand for natural alternatives compared to synthetic fertilizers is expected to drive market growth. The use of chemical pesticides is harmful to the environment. Thus, the government implemented strict regulations on the quantity of harmful chemicals that can be used in pesticides.

While manufacturing biofungicides natural microbes are used to control the growth of fungal diseases. Biofungicides provide a suitable alternative to chemical pesticides. Biofungicides are safe to use and leave no residues in the final food product compared to pesticides. Biofungicides are not harmful to pollinators and thus they can be used for harvesting flowers.

The increasing demand for organic products is projected to propel market growth. Biofungicides increase the shelf life of food products. The demand for organic food is increased due to the advances in crop protection technologies and the movement in consumer preferences toward more nutritional and healthy diets. 

Current Restraints:

High cost of biofungicides as compared to chemical fertilizers  

The high cost of biofungicides as compared to chemical fertilizers is anticipated to hamper the market growth. The registration procedure for more recent pesticides is lengthy, onerous, and time-consuming. As a result, the price of the finished product rises, making it more expensive than widely accessible and less expensive chemical insecticides. 

Market Opportunities:

Technological advancements while manufacturing biofungicides

In recent years, considerable improvement in the way pesticides is applied to plants thanks to new technology. Nanopesticides and nanomaterials are frequently used together to improve their reactivity. Then, these nano biofungicides are utilized as a potent substitute for synthetic fungicides. 

Scope of The Biofungicides Market Report

The report on the global biofungicides market includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Biofungicides Market Segment Insights 

Soil treatment segment to expand at a considerable CAGR

On the basis of mode of application, the biofungicides market is segmented into seed treatment, soil treatment, foliar spray, and other mode of application. The other mode of application is further categorized into root dipping, drip & sprinkler irrigation, and post-harvest. The soil treatment segment is projected to expand at a considerable CAGR during the forecast period, due to advancements in the soil treatment technique.

Farmers adopt various soil treatment solutions to safeguard a healthy crop yield, as the majority of the fungal infections take place in the root and soil zone area of the plant. The fungal infection in the soil zone area hampers plant growth and ultimately leads to plant deaths. 

The seed treatment segment is anticipated to account for a major market share during the forecast period. Seed treatment is used to disinfect the seeds from seed-borne or soil-borne pathogenic organisms. Moreover, seed treatment improves seed and seedling health by removing seed-borne pathogens from the seed. Many farmers are either not aware of soil treatment or do not follow it.  

Microbial species segment to hold a significant share of the market

Based on type, the market is divided into botanical and microbial species. The microbial species segment is expected to hold a significant share of the market in the coming years, due to the ease of production of microbial biofungicides. Microbial biofungicides act against pathogenic fungi by antibiosis, parasitism, or competition.

Microbial biofungicides are efficient in terms of their mode of action. Microbial biofungicides contain unique strains of bacteria, live cells of specific, and fungi as active ingredients. 

The botanical segment accounts for a significant market share in the coming years, as it helps to decrease the negative impacts of synthetic agents, including resistance, residues, and environmental pollution. Botanical biofungicides offers selective, effective, biodegradable, and less toxic to the environment.   

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Trichoderma segment to expand at a substantial CAGR

On the basis of species, the biofungicides market is segregated into Pseudomonas, Streptomyces Bacillus, Trichoderma, and other species. The other species segment further segregated into Aureobasidium, Coniothyrium, and Saccharomyces. The Trichoderma segment is anticipated to expand at a substantial CAGR during the forecast period.

Trichoderma species are used to promote the growth of plants and control the growth of soil-borne pathogens. Trichoderma degrade fungi by its enzymatic activity and produce anti-microbial compounds that kill pathogenic fungi.  

The Streptomyces Bacillus segment is expected to hold a significant share of the market, as it is used to prevent infection of plants. Streptomyces Bacillus form endospores that are resilient to harsh environmental conditions. These bacteria secrete metabolites that stimulate plant health and growth. Also, these microbial biofungicides enhance stress tolerance and adaptation to climate change. 

Fruits & vegetables segment to register considerable market share

Based on crop-type, the market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. The other crops segment is further classified as turf & ornamentals. The fruits & vegetable segment is projected to register a considerable share of the market in the coming years, owing to the increasing demand for organic vegetables and fruits globally.

Farmers are using bio-based fungicides and discarding the use of chemical-based biofunigicides. Chemical-based biofungicides are harmful health concerns associated with synthetic products. Organic fruits and vegetables are grown without using conventional pesticides and its healthier in terms of nutrients.  

The cereals & grains segment is expected to hold a substantial CAGR. Biofungicides help to reduce the damage caused by diseases and pests including disease-causing bacteria. Thus, biofungicides are widely used to safeguard crops from disease-causing pathogenic bacteria in different areas of the world. Some biofungicides improve draught resistance and increase root development in plants. 

Wettable powder segment to expand at a considerable CAGR

On the basis of form, the biofungicides market is segmented into aqueous solution, granules, and wettable powder. The wettable powder segment is projected to expand at a considerable CAGR during the forecast period. The wettable powder is a pesticide or insecticide formulation consisting of active ingredients in a finely ground state.

Wettable powders are designed to be applied as a dilute suspension through liquid spraying equipment. Farmers use weattable powder directly over the soil or they can be mixed with any aqueous liquid and sprayed over the soil at regular intervals. Famers mixed it with the seeds before sowing or it can be mixed with any aqueous liquid and sprayed over the soil at regular intervals. 

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North America is anticipated to constitute a key market share

In terms of regions, the biofungicides market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, as it is the major producer of organic fruits and vegetables. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the rising use of integrated pest management solutions in the region.

The growing demand for food supply due to the increasing population in the Asia Pacific is expected to drive the market growth. Precision farming and evolving agricultural practices is anticipated to propel the biofungicides market growth in the region. The region is promoting the usage of microbial pesticides, as opposed to pesticides and chemical fertilizers. 

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