Biofungicides Market: Global Opportunity Analysis and Industry Forecast 2021-2031 Market

Biofungicides are the living organisms that control the activity of plant pathogenic fungi and bacteria. It is made up of fungi and bacteria that colonize and assail plant pathogens, thereby preventing the diseases they cause. These microorganisms are naturally found in soil, making them an environment-friendly alternative to chemical fungicides. Biofungicides are used as a pest-control in the cultivation of cereals, grains, fruits & vegetables, and oilseeds & pulses. They help to increase the fertility of land and prolong the life of flowers & fruits. In addition, biofungicide is easily decomposed by sunlight, plants, or various soil microorganisms. 

COVID-19 scenario analysis:

• The outbreak of COVID-19 has disrupted many industrial activities in agriculture and supply chains. Non-availability of migrant labor interrupts harvesting activities, particularly in northwest India where wheat and pulses are being harvested. Prices have declined for wheat, vegetables, and other crops, yet consumers are paying more. 
• Europe is among the largest economies across the globe in terms of industrial production. The COVID-19 pandemic had led the manufacturers of chemical, electronics, and biofungicides to face issues regarding supply chain disruption. Government orders to suspend production are further affecting industrial output in Europe.
• Organic chemicals, surgical & optical instruments, electrical machinery & mechanical appliances, and plastics are items that comprise 28% of the total imports from China. Disruption in the supply chain adversely affects end-user industries, which use these items for production or finished products.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The rise in demand for organic fruits and vegetables globally has increased the demand for biofungicides. Framers are now discarding the use of chemical-based biofungicides due to harmful health concerns. Biofungicides are used in the cultivation of cereals, grains, fruits & vegetables, oilseeds, and pulses as pest control. The shift in consumer preference for organic fruits & vegetables is expected to boost the market growth.

In addition, fungal infections occur in the soil and root zone area of the plant that affect the plant growth and eventually leads to plant death. Biofungicides improve plant growth and give new life to plants. Soil treatment is the most suitable method for bio fungicides due to the advancements in soil treatment techniques. 

Bio fungicides provide longer shelf life and affordable prices for organic products are the key benefits of biofungicides, which have led to a higher preference for wettable powdered form in the biofungicides market. Farmers use wettable powder to directly sprinkle over the soil, or it can be mixed with water, which is meant for irrigation. 

However, high costs and low availability of the product are the major constrains of the market. Most farmers, particularly in developing regions, are familiar with chemical-based agro-products, and are unwilling to adopt advanced products due to financial hurdles; this continues to be a challenge for biofungicide suppliers. 

Surge in usage of biofungicides in soil treatment applications:

Based on region, the global bio fungicides market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North American is one of the largest producers of organic fruits & vegetables. In addition, the increase in use of integrated pest management solutions is projected to drive the market growth of bio fungicides across the globe. 

As a natural way of improve plant growth, maintaining soil health and improving plant nutrient intake, biofungicide product application is gaining popularity in various environmentally-cognizant markets such as North America and Europe. The use of biofungicides in Europe for crop-based applications is the largest and is growing faster than non-crop-based applications. 

Grain & cereal and oilseed applications are the largest end users of biofungicides in Europe. The effect of organic, clean label, and residue-free customer preferences has led to an increase in demand for biofungicides, particularly in the agricultural industry, which is driving the global bio fungicides market. Increase in awareness of health benefits of using natural products also contributes to the biofungicides market.

Key benefits of the report:

• This study presents the analytical depiction of the biofungicides market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the biofungicides market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the biofungicides market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the biofungicides market research report:

• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Biofungicides Market: Global Opportunity Analysis and Industry Forecast 2020–2027 Report Highlights