The increase in demand for organic food products, stringent government regulation against the use of chemical-based crop protection methods, and the growing awareness among farmers about the benefits of adopting biofungicides are some of the factors that are projected to drive the growth of the market.
The global biofungicides market is estimated to account for a value of USD 1.6billion in 2020 and is projected to grow at a CAGR of 16.1%, to reach a value of USD 3.4billion by 2025. The biofungicides market is projected to witness significant growth due to the increasing demand for chemicalresidue-free and environment-friendly products. Stringent government regulations and a significant shift toward sustainable agricultural practices are factors that are projected to decrease the use of chemical-based crop protection products.
By type, the biofungicides market has been segmented into microbial species and botanical biofungicides. The microbial segment accounted for the largest market share in 2020, in terms of value,being the most preferred type due to a wide range of microbial species strains available in the market.
The market for biofungicides, by form, has been segmented into wettable powder, granules, and aqueous solution. The wettable powder segment accounted for the larger share in 2020, in terms of value, in the biofungicides market due to its higher shelf life and cost-effectiveness.
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The market for biofungicides, by mode of application, has been segmented into soil treatment, seeds treatment, and foliar spray. The market was dominated by the soil treatment segment due to the increase in instances of soil-borne fungal pathogens.Soil-borne fungal pathogens infect the root systems of plants affecting its overall growth and yield.
Some of the major players in the biofungicides marketareBASF SE (Germany), Bayer AG (Germany), Syngenta AG (Switzerland), FMC Corporation (US), Nufarm (Australia), Novozymes (Denmark), Marrone Bio Innovations (US), Koppert Biological Systems (Netherlands), Isagro S.P.A (Italy), T. Stanes & Company Limited (India), BioWorks (US), The Stockton Group (Israel), Valnet Biosciences (US), Agri Life (India), Certis U.S.A (US), Andermatt Biocontrol AG (Switzerland), Lesaffre (France), Rizobacter (Argentina), Vegalab S.A (US), Biobest Group NV (Belgium), and Biolchim (Italy). New productlaunchesand partnerships are some of the major strategies adopted by the leading players in the biofungicides market to enhance their market presence by diversifying their businesses geographically, strengthening their distribution networks, and expandingtheir product portfolios.
Collagen Peptides Market worth $795 million by 2025
Food & beverage manufacturers have started using collagen peptides increasingly as an ingredient in a wide range of products. Also, with biotechnological advancement, collagen peptides have found its use in various biomedical applications. The versatile nature of collagen peptides makes it useful in the pharmaceutical industry for the production of orally administrative medicines.
Pea Starch Market is Expected to Reach $203 Million by 2026
Growth in the demand for pea starch in the end-user application industries is driving the market growth of pea starch. Further, increase in the demand for gluten-free products is also a major factor resulting to the rise in the demand for pea starch.
Shrink Plastic Film Market is Estimated to Grow $3.0 billion by 2025
Based on type, the shrink plastic film market for beverage multipacks is dominated by the unprinted shrink plastic film segment.
