Global “Biofungicide Market” is expected to an extensive growth during the forecast period 2018-2023. Biofungicide Market report provides in detail analysis of market with revenue growth and future trends. report includes the forecasts, market size, share estimates and profiles of the leading industry Players.
The US biofungicide market was valued at USD 461 million in 2019 and is expected to register a CAGR of 12.6% during the forecast period, 2019-2024. Among the crop types, fruits and vegetables accounted for the major share of 55%, followed by turf and ornamentals with 15.2%, in 2019.
The need to feed an ever-growing population, coupled with an increasing demand for sustainable agricultural practices, is anticipated to drive the market’s growth. Food safety is a primary concern for American consumers. Therefore, it is a vital issue for both buyers (produce) and retailers. Biofungicides improve crop quality, by preventing pest damage and promoting physiological benefits in plants, including increased fruit size and enhanced color.
Scope of the Report
The report provides an in-depth analysis of various parameters of the United States biofungicide market. The market has been segmented on the basis of crop type.
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Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
Biofungicide Market by Companies
Key Market Trends
The Fastest Market Growing Segment by Crop Type – Fruits and Vegetables
In the United States, biofungicides are mostly adopted in the integrated pest management programs, particularly formulated for fruits and vegetables. Furthermore, the government is promoting the application of biofungicides. To increase the application of biofungicides in the agriculture and horticulture industries, companies, like Ag Biome, are receiving registrations for their products from EPA. For instance, in 2019, AgBiome and Sipcam announced a joint development project that would focus on innovative combination products for specific crop markets in the United States. The company also received approval for Zio in turf and ornamentals in the country during 2017.
Challenges in the Grains & Cereals Segment
The grains and cereals sub-segment of the market studied occupied only 15.4% of the market share, despite having the largest area among all crop types. Although the segment is expected to witness a CAGR of 12.9 % during the forecast period, a few challenges still remain. In this segment, rice, corn, and wheat are the major crops, which account for a high market share.
The US government is promoting the use of biofungicides, especially for cereals. However, they are not used widely, primary due to low awareness and high prices. The high value of seed germplasm led to greater use of seed treatments, including biocontrols, in order to protect the developing seedling.
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Table of Content of Global Biofungicide Market - Growth, Trends, Forecast and Challenges (2019 - 2023)
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends of Biofungicide Market
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics of Biofungicide Market
5.1.1 Increasing Production
5.1.2 Rising Demand
6. Global Biofungicide Market Segmentation, By Capacity
7. Global Biofungicide Market Segmentation, By Material Type
7.1 Type 1
7.2 Type 2
7.3 Type 3
8. Global Biofungicide Market Segmentation, Segmented by Region
8.1 North America
8.1.1 United States
8.1.3 Rest of North America
8.2.4 Rest of Asia-Pacific
8.3.1 United Kingdom
8.3.5 Rest of Europe
8.4 Rest of the World
8.4.2 South Africa
9. Competitive Landscape and Introduction of Biofungicide Market
9.2 Market Share Analysis
9.3 Developments of Key Players
10. Key Vendor Analysis (Overview, Products & Services, Strategies)
10.1 Company 1
10.2 Company 2
10.3 Company 3
10.4 Company 4
10.5 Company 5
And Many More….
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No. of Pages: - 77
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