The Latin American biofungicides market size is expected to reach USD 0.20 billion in 2024 and reach USD 0.43 billion by 2029, growing at a CAGR of 17.08% from 2024 to 2029.
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 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 barriers in the biofungicides market.
This research report on the Latin American biofungicides market is segmented and sub-segmented into the following categories:
Latin America Biofungicides Market - By Application:
Latin America Biofungicides Market - By Product:
Latin America Biofungicides Market – By Country:
South America It is the largest growing region.
KEY MARKET PLAYERS:
Valent Biosciences, Certis LLc, Marrone Bio Innovations, Agraquest, and Koppert Biological Systems., are the leaders in the Latin America Biofungicides market
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