The global biofungicides market was valued at USD 2.77 billion in 2023 and is anticipated to reach USD 2.95 billion in 2024 from USD 4.88 billion by 2032, growing at a CAGR of 6.5% from 2024 to 2032.
The global Biofungicides market is developing at an exceptionally quick pace. Biofungicides refers to living organisms that are used to control the activity of plant pathogenic fungi and bacteria. The idea of biofungicides is based upon observations of natural processes where beneficial microorganisms, usually isolated from soil, hinder the activity of plant pathogens. These microorganisms produce a wide range of antibiotic substances and parasitize other fungi, etc.
The significant driver is the presence of human, animal and environmental health concerns prevalent due to use of chemical or synthetic pesticides in crop protection. Various countries are adopting a stringent approach concerning the amount of imports, with focus on regulating the quantity of pesticide residues which has resulted in increased demand for regulated food safety and quality. High costs and low availability are proving to be a barrier in the Bio fungicides market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
6.5% |
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Segments Covered |
By Application, Product and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Valent Biosciences,Certis LLc,Marrone Bio innovations,Agraquest,Koppert Biological systems and Others. |
North America is estimated to constitute the largest share in this market followed by Europe, while the Latin America region is expected to witness the fastest growth followed by the Asia Pacific.
Valent Biosciences, Certis LLc, Marrone Bio innovations, Agraquest, Koppert Biological systems. These are the market players that are dominate the global biofungicides market.
By Application
By Product
By Region
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