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Publishing News and Press Releases

Biofungicides Market Worth $4.06 Billion by 2029 at a CAGR of 12.6%

(Publishing-NewsWire.com, July 06, 2022 ) According to a new market research report titled, ‘Biofungicides Market by Origin (Microbial, Biochemical), Formulation (Dry, Liquid), Mode of Application (Soil Treatment, Seed Treatment, Foliar Spray), Crop Type (Fruits & Vegetables, Cereals & Grains), and Geography - Global Forecast to 2029,’ the biofungicides market is expected to 2029 to reach $4.06 billion by 2029, at a CAGR of 12.6% from 2022 to 2029. By volume, the biofungicides market is expected to reach 214.9 KT by 2029, at a CAGR of 10.1% from 2022 to 2029.



Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5292



Over the last few decades, agricultural yields have increased tremendously through the extensive application of chemicals that have long-lasting effects on the environment and humans. However, higher and advanced productive agricultural methods are a requirement to meet the food demand of the growing population. Therefore, the use of biofungicides has increased significantly across the globe.



Biofungicides are compounds formulated to specifically affect target pathogenic fungi and other related organisms. Biofungicides are a suitable alternative for synthetic fungicides in crop protection since they are economically viable, eco-friendly, and easy to use. Biofungicides obtained from microorganisms and other biological agents play a vital role in minimizing and controlling pest infestations and increasing crop yields.



Scope of the Report:



Biofungicides Market, by Origin



Microbial

Trichoderma

Bacillus

Pseudomonas

Streptomyces

Other Microbial Species

Biochemical

Plant-incorporated Protectant

Biofungicides Market, by Formulation



Dry Biofungicides

Liquid Biofungicides



Biofungicides Market, by Mode of Application



Soil Treatment

Seed Treatment

Foliar Spray

Post-harvest

Other Modes of Application



Biofungicides Market, by Crop Type



Fruits & Vegetables

Cereals & Grains

Maize/Corn

Wheat

Rice

Other Cereals & Grains

Oilseeds & Pulses

Other Crop Types



Biofungicides Market, by Geography



North America

U.S.

Canada

Europe

Spain

France

Germany

Italy

U.K.

Rest of Europe

Asia-Pacific

China

India

Australia

Japan

Thailand

Vietnam

Indonesia

Malaysia

Rest of Asia-Pacific

Latin America

Brazil

Mexico

Argentina

Chile

Rest of Latin America

Middle East & Africa



To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/biofungicides-market-5292



Impact of COVID-19 on the Biofungicides Market



The COVID-19 pandemic adversely impacted economies globally. The implementation of nationwide lockdowns and curfews to curb the spread of infection impacted numerous industries worldwide, including agriculture and crop protection. The biofungicides market registered a strong decline in sales in the first quarter of 2020 due to disruptions in the logistics sector. Furthermore, the value chain of this market, from raw materials supply to manufacturing, packaging, and distribution, was significantly disrupted due to the pandemic.



The outbreak of the COVID-19 pandemic resulted in reduced operations, reduced demand from farmers, and the closure of production facilities. Various industries were affected due to severe labor shortages due to the nationwide lockdowns. The decline in businesses in 2020, coupled with decreased demand from major markets, caused hurdles for biofungicides manufacturers and vendors.



The impact of the COVID-19 pandemic on this market was felt in China at the beginning of 2020, as the country is one of the world's largest raw material suppliers for the biofungicides industry. Most European and North American biofungicides companies import key active ingredients used in producing biofungicides from China and other Asian countries. The low availability of raw materials resulted in the scarcity of biofungicide products in high-growth markets, such as the U.S., Brazil, Spain, and Italy.



Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5292



Some of the key players operating in the biofungicides market are Bayer AG (Germany), Marrone Bio Innovations, Inc. (U.S.), Certis USA L.L.C. (Part of Mitsui & Co.) (U.S.), Andermatt Biocontol AG (Switzerland), BASF SE (Germany), Som Phytopharma India Limited (India), Syngenta AG (part of ChemChina) (Switzerland), International Panaacea Ltd (IPL) (India), The Stockton (STK) Group (Israel), BioWorks, Inc. (U.S.), Novozymes A/S (Denmark), W. Neudorff GmbH KG (Germany), Valent U.S.A. LLC (Part of Sumitomo Chemical Co., Ltd.) (U.S.), FMC Corporation (U.S.), and Gowan Company, LLC. (U.S.).



Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5292



Related Reports:



Biostimulants Market by Active Ingredients (Acid-based, Extracts-based), Mode of Application (Soil Treatment, Seed Treatment), Formulation (Liquid, Dry), Crop Type (Row Crops, Fruits & Vegetables, Turfs & Ornamentals) — Global Forecast to 2028

https://www.meticulousresearch.com/product/biostimulants-market-5057



Agricultural Fumigants Market by Type (Phosphine, Chloropicrin, Telone, Metam Sodium), Application (Warehouse, Soil), Form (Liquid, Solid), Pest Control Method (Tarpaulin Fumigation, Structural Fumigation (Tent)), and Crop Type - Global Forecast to 2025

https://www.meticulousresearch.com/product/agricultural-fumigants-market-4263

Meticulous Research™

Khushal

+91 744-7780008

sales@meticulousresearch.com

Source: EmailWire.Com

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