Global Biofungicides Market Future Trends - Business Overview, Recent Developments, Company Profile 2021

Global Biofungicides Market is worth USD xx million in 2016 and estimated to grow at a CAGR of xx.xx%, to reach USD xx million by 2021. The global Biofungicides market is developing at an exceptionally quick pace.

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Biofungicides refers to living organisms that are used to control the activity of plant pathogenic fungi and bacteria. The idea of biofungicides is based upon observations of natural processes where beneficial microorganisms, usually isolated from soil, hinder the activity of plant pathogens. These microorganisms produce a wide range of antibiotic substances and parasitize other fungi, etc.

The significant driver is the presence of human, animal and environmental health concerns prevalent due to use of chemical or synthetic pesticides in crop protection. Various countries are adopting a stringent approach concerning the amount of imports, with focus on regulating the quantity of pesticide residues which has resulted in increased demand for regulated food safety and quality. High costs and low availability are proving to be a barrier in the Biofungicides market.

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The global Biofungicides market is segmented on the basis of application, product and region. Based on application the market is segmented into crop based and non-crop based. Crop based is further segmented into Grains & Cereals, Oil seeds, and Fruits & Vegetables. On-crop is further segmented into turf& ornamental grass and others. Based on product the market is segmented into Biopesticides and biofungicides.

Geographically, the Biofungicides market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. North America is estimated to constitute the largest share in this market followed by Europe, while the Latin America region is expected to witness the fastest growth followed by Asia Pacific.

Valent Biosciences, Certis LLc,Marrone Bio innovations, Agraquest, and Koppert Biological systems., are the leaders in the global Biofungicides market.

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