Bio-Fungicides Market to Reach Valuation of USD 4.9 Billion by 2030 – Increasing Awareness about the Harmful Effects of Chemical Pesticides on the Environment Market

In terms of revenue, the Global Bio-Fungicides Market is expected to reach USD 4.9 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 15.5% from 2022 to 2030.

Strict measures by governments of various economies related to chemical-based methods is one of the key factors bolstering market growth. As producers are inclined for using natural alternative of chemical fungicide, and a bio fungicide provides a better alternative. Some of the common fungicides in the market are Bacillus subtilis, Trichoderma harzianum, streptomyces lydicus, Bacillus amyloliquefaciens and others. There are four common ways by which Bio-Fungicides use direct competition by growing a defensive barrier and shielding them against harmful fungi. They also use a method known as antibiosis where they can produce a antibiotics like chemicals, which are harmful pathogens. They are also feed on the harmful pathogens and boost the plants and immune system to defend against disease-causing pathogens. Bio-Fungicides are degradable and renewable resources and hence they don’t leave any residue and are considered environmentally friendly.

Key Highlights from the Report

· Based on Types, the microbial species segment is anticipated to dominate the Bio-Fungicides market, with the largest market share in the forecast period, it is due to they act against the pathogenic fungi by parasitism, antibiotics or competition.

· On the basis of Applications, the soil treatment segment accounted for the maximum CAGR during the forecast period because due to the advancement in the soil treatment techniques.

· Based on the Crop Types, the fruit & vegetables segment is projected to be fastest growing segment in the Bio-Fungicides market during the forecast period.

· Based on the Species, Trichoderma is a projected to dominate the Bio-Fungicides market during the forecast period.

· On the basis of Forms, the wettable powder segment is projected to be the fastest growing in the a Bio-Fungicides market during the forecast period.

· In terms of Region, the North America held the major market share in 2022 and is likely most gainful market in the future. The increasing use of integrated pest management solutions is projected to drive the market growth of Bio-Fungicides in the region.

Market Dynamics

Flourishing demand for organic food along with role of organic farming will be critical in promoting this change due to its natural friendliness, economy, producers, and features that are convenient for the consumer.

The demand for Bio-Fungicides has increased due to the surge in demand for organic fruits and vegetables worldwide. Due to potential health risks, framers are currently abandoning the usage of chemical-based Bio-Fungicides. Pest management methods for the growth of cereals, grains, fruits, vegetables, oilseeds, and pulses include the use of Bio-Fungicides. The market expansion is anticipated to be boosted by the shift in consumer demand for organic fruits and vegetables.

Among the biggest market obstacles are the high price and little consumer knowledge of Bio-Fungicides products. Many farmers, especially in growing regions, are familiar with chemical-based agricultural products. Lower level of eco-friendly pesticides product accepting, compared with chemical products in growing countries, is limiting the market growth. However, the Bio-Fungicides sector is interpreted by a number of complex startups with adequate financing, appropriate infrastructure, and market access. Research & development activities are accomplished by these nascent players and often feel the volatility of local claim that may delay market growth.

The Global Bio-Fungicides Market is Segmented as follows

• Types
  • Microbial Species
  • Botanical
• Forms
  • Wettable Powder
  • Aqueous Solution
  • Granules
• Species
  • Bacillus
  • Trichodema
  • Streptomyces
  • Other Specices
• Applications
  • Foliar Spray
  • Soil Treatment
  • Seed Treatment
  • Other Applications
• Crop Types
  • Fruits & Vegetables
  • Cereals & Grains
  • Oilseeds & Pulses
  • Other Crops
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Bio-Fungicides Market is

BASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), FMC Corporation (U.S.), Unfirm (Australia), Nufarm (Australia), Novozymes (Denmark), Marron Bio Innovations (U.S.), Koppers Biological Systems (Netherlands), Segro S.P.A. (Italy), Stans & Company Limited (India), Valent Biosciences (U.S.), Curtis U.S.A (U.S.), Ander Matt Biocontrol AG (Switzerland), Leadfree (France), Rhizobacteria (Argentina)

The Global Bio-Fungicides Market Scope can be Tabulated as below