The Europe biofungicides market size is expected to reach USD 0.89 million in 2024 and reach USD 1.18 million by 2029, growing at a CAGR of 5.68% from 2024 to 2029. The Europe 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 bio fungicides 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 the use of chemical or synthetic pesticides in crop protection. Various countries are adopting a stringent approach concerning the amount of imports, with a 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.
It is the second-largest market and is anticipated to witness significant growth in the forecast period.
Valent Biosciences, Certis LLc, Marrone Bio Innovations, Agraquest, and Koppert Biological Systems., are the leaders in the Europe Biofungicides market.
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