Biofungicides Market, Covid-19 Outbreak, Industry Scenario, Quality, Survey, Regional, Analysis, Segmentation, Key Players and Forecast to 2026

Market Forecast

Global Biofungicides Market size is expected to cross USD 4 Billion by 2026 at a CAGR of 16% during the forecast period of 2020 to 2026. Fungicides of biological origin, such as microbial strains or other biologically active compounds, are referred to as biofungicides. The global biofungicides market is moderately fragmented and is expected to render profitable growth opportunities to the vendors active in the market. To exploit the lucrative growth opportunities in the global market, prominent biofungicides manufacturers are investing heavily in their R&D activities and launching new products in the market. For instance, in November 2018, Koppert Biological Systems launched a new product in the US and France markets. The new biofungicide is targeted at fungal diseases such as fruit rot, botrytis, monila rot, and grey mold.

Market USP

Rising resistance in fungal pathogens against synthetic fungicides

Growth Opportunities in the Market

Bacillus microbial fungicides segment to register the highest growth rate during the forecast period: Bacillus-based biofungicides are cheaper than Trichoderma and offer a longer shelf-life as compared to other microbial strains used as fungicides. Owing to this, an increasing number of farmers are opting for bacterial biofungicides such as Bacillus species. Hence, the Bacillus segment is expected to register the highest CAGR during the forecast period 2020–2026.

Technological advancements to render lucrative opportunities in seed treatment: Seed treatment is emerging as a major mode of application for biofungicides. Rising awareness amongst the farmers regarding the need to treat seeds before sowing is boosting the adoption of seed treatment. Treated seeds germinate quickly with higher efficiency and show the reduced prevalence of biotic or abiotic stress. Manufacturers in North America and Europe are focusing on technological advancements and expanding their product portfolio by launching biofungicides for seed treatment.

Segmentation

By Type

• Botanical

• Microbial: The microbial segment accounted for the larger share of the global biofungicides market in 2019. The segment is further bifurcated into Trichoderma, Streptomyces, Bacillus, Pseudomonas, and others. Microbial biofungicides are highly effective and do not impose any harm to the plants. Hence, they are widely used by farmers. Amongst the microbial biofungicides, Trichoderma accounted for the lion’s share in 2019 owing to its high tolerance against the pH of the soil and its high environmental diversity. Owing to the higher efficiency of microbial biofungicides than botanical counterparts, the microbial segment is expected to register a higher CAGR during the forecast period 2020-2026.

By Form

• Powder: In 2019, the powder segment accounted for the largest revenue share and is expected to register the fastest growth rate during the forecast period owing to its ease of application and production. Powdered biofungicides are available as wettable powders and can be easily mixed in any basic or acidic solution. They are easily applied either through foliar sprays or fertigation.

• Liquid

• Granules

By Mode of Application

• Seed Treatment

• Soil Application: It is the most common mode of application for biofungicides and hence, garnered the largest revenue share of the global biofungicides market in 2019. Biofungicides such as Trichoderma are widely used to fight against the fungal pathogens attacking the soil and root-zone area.

• Foliar

• Others

By Crop Type

• Cereals & Grains

• Oilseeds & Pulses

• Fruits & Vegetables: The segment accounted for the largest share of the global biofungicides market in 2019 and is expected to register the highest CAGR during the forecast period. Increasing production of fruits & vegetables across the globe is among the major factors contributing to the high use of biofungicides. Additionally, horticultural crops such as fruits & vegetables are highly susceptible to various fungal diseases, resulting in tremendous yield loss. Hence, the application of biofungicides in fruits & vegetables is comparatively high. Some of the major fungal diseases occurring in vegetables are powdery mildews, Botrytis rots, Sclerotium rots downy mildews, Fusarium rots, anthracnose, rusts, Rhizoctonia rots, and Sclerotinia rots.

• Others

By Region

• North America: North America dominated the global biofungicides market in 2019 by accounting for more than 30% of the market share. The rise in demand for organic food and food products, especially fruits & vegetables, has increased the need for biopesticides such as biofungicides. Additionally, increasing the adoption of integrated pest management in the region is also driving the growth of the regional market.

• Europe

• Asia-Pacific

• Rest of the World

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Key Players

• BASF SE (Germany)
• Bayer AG (Germany)
• Syngenta AG (Switzerland)
• FMC Corporation (US)
• Nufarm (Australia)
• Novozymes (Denmark)
• Marrone Bio Innovations (US)
• Koppert Biological Systems (Netherlands)
• Isagro S.P.A (Italy)
• Stanes & Company Limited (India)
• Valent Biosciences (US)
• Certis U.S.A (US)
• Andermatt Biocontrol AG (Switzerland)
• Lesaffre (France)
• Rizobacter (Argentina)

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