Biofungicides Market Share

Geographically, the biofungicides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America is predicted to hold the dominating market share in the market followed by Europe, owing to the growing prevalence of organic farming and organic food consumption. The region observes the acceptance of integrated pest management and organic farming practices along with the presence of major players in the market in the region and stringent government policies concerning the restriction of chemical fertilizers and promoting sustainable farming.

The biofungicides market in Europe is anticipated to amplify at a rapid pace owing to the high demand for organic foods and shifting eating habits, which are driving the requirement for organic production.

The Asia Pacific regions are expected to grow at a steady rate during the forecast period owing to the rising population and increase in the demand for food crops, mostly cereals & grains, and fruit & vegetables. An increase in the awareness about the benefits of bio-based agrochemicals amongst farmers is also boosting the demand for biofungicides in the Asia Pacific.