Wednesday, 20 October 2021 12:27 GMT

Global Biofungicide Market worth US$ 2,492 million 2023 with a CAGR of 15.80%

(MENAFN- Prophecy Market Insights ) The report "Global Biofungicide Market, By Application (Grains and Cereals, Oilseeds, Fruits and Vegetables, and Other Applications), and Region - Global Forecast to 2024" global biofungicide market is projected to grow to US$ 2,492 million by 2023. The drivers identified in the market are growing demand for food safety, easy registration procedure of bio fungicides, increasing R&D and partnerships among the market players and increasing area under organic farming. Awareness is making fungicides less popular in the region and giving opportunities for growth of the biofungicide market.

Key Highlights:

In November 2019, Koppert registered new biofingicide
In January 2018 — BASF’s new Velondis brand biofungicide seed treatment formulations have received registrations from the Environmental Protection Agency (EPA).
Key Market Insights from the report:

The global biofungicide market accounted for US$ 2,492 million in 2023 and is projected to register a moderate CAGR of 15.80% over the forecast period. The market report has been segmented on the application and region.

By application, the grain and cereals are expected to dominate, due to increasing pressure of crop yield to fulfil the population demand.
By region, Europe is projected to lead the global biofungicide market and is expected to remain dominant during the forecast period, due to the increase in the use of fungicides through advanced agricultural techniques.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Biofungicide Market”, By Application (Grains and Cereals, Oilseeds, Fruits and Vegetables, and Other Applications), and by Region – global forecast till 2030

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The prominent player operating in the global biofungicide market includes Bayer CropScience, BASF SE, DuPont, Monsanto, Marrone BioScience, Bioworks Inc., Isagro, Certis, Koppert Biological Systems, Syngenta AG.

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