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Global Biofungicide Market by Product, Application and Geography - Growth, Trends, and Forecast (2018-2023) - ResearchAndMarkets.com

November 8, 2018

DUBLIN--(BUSINESS WIRE)--Nov 8, 2018--The “Global Biofungicide Market - Segmented by Product, Application, and Geography- Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.

The biofungicide market is a niche market that is growing due to the present demand in the agricultural sector and high innovation.As a natural way of tackling plant growth, maintaining soil health and improving plant nutrient intake, biofungicide product application is gaining momentum in various environmentally conscious markets, such as North America and Europe.Strict regulation of crop protection chemicals and growing farmer and consumer awareness are making fungicides less popular in the region and giving opportunities for growth of the biofungicide market.

Organizations Promoting Biological Products

The risks posed by biofungicides are lower compared to conventional fungicides, and as a result, less data is required by the EPA in registering biofungicides. New biofungicides are often registered in less than a year, a process that normally takes an average of over three years for conventional fungicides.Despite this, the EPA is mandated to undertake meticulous testing for all pesticides for ensuring that they do not adversely affect human health or the environment. This further necessitates the registrants to provide the EPA with all the relevant data pertaining to the pesticide’s composition, toxicity, degradation, and other features.The preference for organic foods is growing rapidly in developed and developing countries. This presents an opportunity for pesticide manufactures to introduce new biopesticides in the market.Biofungicides are easier to register and are often used in larger quantities for the same effectiveness in comparison to synthetic fungicides. The manufacturer can also save significantly on development costs. It is also easier to achieve economies of scale in biofungicides because of raw material availability and usage patterns.Market Dynamics Drivers Growing Demand for Food Safety & QualityBiopesticides Gaining Market Share Over Synthetic PesticidesLow R&D CostsAdoption of Organic Farming PracticesGovernments Promoting Bio Control Products Restraints Low Consumer Adoption of BiopesticidesHigh Specificity on Target PestsHigh Costs and Low Availability

Developments in the Market

BASF’s new Velondis brand biofungicide seed treatment formulations have received registrations from the Environmental Protection Agency (EPA).

Companies Profiled

Bioworks Inc.Marrone BioInnovationsCertis LLCMonsantoNovozyme BiologicalsValent Biosciences CorporationInternational Pannacea Ltd.LallemandSeipasaSyngentaDe Sangosse Ltd.

Key Topics Covered

1. Research Scope & Methodology

2. Market Dynamics

3. Market Segmentation

4. Competitive Landscape

5. Company Profiles

6. Future outlook of the Market

For more information about this report visit https://www.researchandmarkets.com/research/2jvjxm/global?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181108005345/en/

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Related Topics:Agrochemicals and Fertilizers

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/08/2018 05:08 AM/DISC: 11/08/2018 05:07 AM

http://www.businesswire.com/news/home/20181108005345/en

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