Loading...
The biofungicide market is projected to show steady growth during the forecast period.
Fungicides are a kind of pesticides that prevent the growth of fungi and its spores. They are also used to control fungi that can damage plants, which include rust, blight, mold, and mildew. The fungicides work by damaging the fungal cell membranes or by interfering with the energy production inside the fungal cells. There are two types of fungicides, which include chemical and biological-based fungicides. Chemical fungicides are produced from organic and inorganic chemicals, whereas biofungicides consist of living microorganisms like bacteria and fungi.
Introduction:
Biofungicides are fungicides that consist of living organisms that are used for controlling the activity of plant pathogenic fungi and bacteria. Biocontrol microorganisms are free-living bacteria that are active in root, foliar, and soil environments. These produce a range of antibiotic substances, parasitize other fungi, compete with other fungi, and produce localized or systemic resistance in plants. Biofungicides work through several biocontrol processes, which include rhizosphere competence, parasitism, antibiosis, inducing metabolic changes, and plant growth promotion.
Market Drivers:
Key Players:
Regional Analysis:
North American region is expected to witness significant growth in the biofungicide market during the forecasted period of 2024 – 2029. The factors that affect the market in this region is the increase in demand for organic food. According to the National Agricultural Statistics surveys that were conducted by the United States Department of Agriculture (USDA), the increase in certified organic cropland acres increased to 3.9 million acres (79% increase), and certified operation increased to 17,445 farms (90% increase) throughout 2011 - 2021. The estimated sales of organic food products were US$26.9 billion in 2010 and increased to US$52.0 billion in 2021. The sale of organic goods occurs through farmers' markets, Community Supported Agriculture (CSAs), Direct-to-consumer sales, and Internet sales. The internet is one of the major players in the increase in demand for products, and the growth of the sales of organic foods through the Internet had increased from 3% in 2012 to 6% in 2020. The growth in internet usage can boost the demand for organic foods and production. This increase in organic production can also be linked to the increase in demand for organic foods, which will increase the scale of production of organic agriculture. This will provide the necessary boost to propel the global bio-fungicide market during the forecasted period.
Market Developments:
Segmentation: