The seriousness shown by agriculturists and farmers to protect grains, weeds, and plants has given an impetus to the growth of the global biofungicides market. The antibacterial action of biofungicides makes them a sound alternate to concentrated solutions or chemicals used for killing bacteria from agricultural fields. Moreover, several experts and researchers consider biofungicides as an organic means of corp protection. The huge-scale investments directed towards enhancing agricultural productivity has played a vital role in the growth of the global biofungicides market. The use of biofungicides is suggestive of sophisticated standards of agriculture and horticulture. Affluent farmers have easy, especially in the developed countries, get easy access to biofungicides.
Transparency Market Research, in a research report, finds that the global biofungicides market market would expand at a stellar CAGR of 14% over the period 2019 and 2027. Furthermore, the total value of the global biofungicides market is expected to reach over US$ 730 Mn by 2027. Based on application, the demand for biofungicides to sustain fruit and vegetable cultivation is on a rise.
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Storage and Procurement of Biofungicides
Dry biofungicides are easier to store, whilst their liquid form can be conveniently sprayed across the field. For all practical purposes, farmers use both of these varieties to steer clear of unanticipated challenges. Furthermore, financial incentives extended by the government have helped these farmers in maintaining a sustained stock of biofungicides. The most commonly used biofungicides are composed of sulfur, captan, mefenoxam. The activity of biofungicides is extensively studied across test laboratories and research centers. This factor has also propelled demand within the global market.
One of the leading vendors in the global biofungicides market is Maronne Bio Innovations, Inc. that has launched several key products in the past.
Rising Incidence of Plagues across Agricultural Fields
The incidence of a plant disease across agricultural lands can be severely downgrading. It can disrupt the supply cycle, while causing alarm across the entire agricultural sector. Henceforth, agriculturists and planners are making earning efforts to kill pathogens that can cause diseases. The global biofungicides market is expected to attract increased revenues as farmers shown tremendous awareness about the vulnerabilities of their farmlands. Furthermore, the use of biofungicides market in cultivation of fruits and vegetables has also generated fresh demand across the global market.
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Due to the adverse impacts of fungicides on human health, equipment manufacturers have developed sealed devices to store and spray these pesticides. This trend has given a greater level of control to farmers in ensuring regular treatment of farms. It is important to spray biofungicides prior to the incidence of a disease on the farmland. Hence, farmers store biofungicides in excess as a part of their inventories. It is legit to expect that the global market for biofungicides would tread along a lucrative growth path in the years to follow.