The biofungicides market is projected to grow significantly, reaching USD 8.74 billion by 2033, up from USD 2.24 billion in 2023. This growth represents a compound annual growth rate (CAGR) of 11.02% from 2023 to 2033. The sector, which focuses on natural, biologically occurring compounds for pest control, is highly fragmented with regional and local players leading the market. By 2029, the market size is anticipated to hit USD 4.81 billion, with a CAGR of 10.80% from 2024 to 2029. Key industry players are expanding their product offerings and launching new products to meet regulatory standards. Market growth is driven by government initiatives to boost awareness, collaborations with regional distributors, and a shift towards Integrated Pest Management (IPM) practices.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By Type (Microbial species, Botanical)
By Form (Wettable powder, Aqueous solution, Granules)
By Application (Foliar spray, Soil treatment, Seed treatment, Others)
By Species (Bacillus, Trichoderma, Pseudomonas, Streptomyces, Others)
Key players
BASF SE
Bayer AG
Syngenta AG
FMC Corporation
Nufarm
Novozymes
Marrone Bio Innovations
Koppert Biological Systems
Isagro S.P.A
Biolchim
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