The effect of ‘natural’, ‘clean name’, and ‘buildup free’- – buyer inclinations that have instigated structural moves over a scope of parts—is perceptible in the agribusiness segment also. It has impacted ranchers around the globe to consolidate feasible items and administrations. Extending from developing reception of customary seeds to organic yield insurance strategies, reasonable cultivating has turned into a key center zone for the farming area. The onus has likewise moved to utilizing normally inferred bug control materials, making expanded interest for biofungicides and bioinsecticides.
The developments influencing better crop production to sustain the needs of a growing populace, and the biofungicides market in particular, warrant an in-depth understanding and unbiased analysis of this market. Transparency Market Research, in its new research study, unveils compelling insights to assist key stakeholders in the biofungicides market with value-creation and data-driven decision-making.
Biofungicides Demand Bolstered by Shift to More Sustainable Agriculture
The use of biofungicides, now gaining increasing attention in the view of the rising demand for organic and residue-free foods, has come a long way since it started in the 17th century before the advent of synthetic pesticides. The global sales of biofungicides closed in on US$ 220 million in 2018, and the number of players competing for a share of the pie of this lucrative market continues to rise with each passing year.
Since the intensive and frequent excessive use of chemical pesticides has increased, the resistance strength of plant pathogens has also increased. This has become a threat to public health and environment; hence, focus has shifted back to R&D activities and introduction of biofungicides and other bio-based substitutes. With increased attention being paid toward sustainable agriculture and the boom in the organic farming industry, especially in developed regions, biofungicide companies should be looking at a period of sustained demand.