Biofungicides Market Outlook:
Biofungicides Market size was USD 3.1 billion in 2024 and is estimated to reach USD 17.9 billion by the end of 2037, registering a CAGR of 16.1% during the forecast period, i.e., 2025-2037. In 2025, the industry size of biofungicides is evaluated at USD 3 billion.
The main catalyst for the expansion of the biofungicides market is the global transition towards sustainable agricultural practices. Governments across the globe are enacting policies aimed at decreasing the use of chemical pesticides and fostering eco-friendly alternatives. For example, the U.S. Environmental Protection Agency (EPA) has been proactively promoting the use of biopesticides, including biofungicides, through a variety of programs and initiatives. These endeavors are designed to mitigate the environmental effects of traditional pesticides and to encourage the advancement of safer, more sustainable farming methods. Such regulatory backing is anticipated to persist in propelling the demand for biofungicides in the years ahead.
The supply chain for biofungicides includes the acquisition of raw materials, the production process, and the distribution of the finished products. Essential raw materials consist of microbial cultures and plant extracts, which are cultivated and processed in specialized facilities. The growth of manufacturing capabilities is apparent, as numerous companies are setting up production units in areas with favorable agricultural conditions. For instance, the U.S. Department of Agriculture (USDA) has noted an increase in the number of biopesticide production facilities nationwide. Regarding economic indicators, the Producer Price Index (PPI) for agricultural chemicals, which includes biofungicides, has demonstrated a consistent rise, indicating increasing production costs. At the same time, the Consumer Price Index (CPI) for food products has also been climbing, suggesting that the expenses related to agricultural input are being transferred to consumers. This economic environment highlights the necessity for effective production and distribution strategies to sustain the affordability and competitiveness of biofungicides in the marketplace.
