Biofungicides Market Trends

Growth Drivers

Shifting towards more sustainable agriculture

The upswing in demand for organic products is booming, not only due to an increase in health concerned consumers but also owing to increasing purchasing power, along with enhanced farming practices that make organic crops more healthy. As a result, the increasing demand for organic food, worldwide, has amplified the area under organic farming which is projected to drive the biofungicides market over the forecast period. Stringent government protocols against the usage of chemical-based crop protection products are also a major contributor towards the overall growth.

Challenges

So many farmers using biofungicides in developing nations are unacquaintedwith the benefits of biofungicides owing to the widespread popularity of chemical-based fungicides. Conventional procedures dominate the agricultural sector in developing countries. Therefore, the rate of adoption of advanced products is slow in agriculture and agricultural-related industries, which might hamper the biofungicides market growth.
Additionally, the lower shelf life of bio-based products and lack of an effective distribution network for biofungicideswhichunfavorably impacts the availability ofbiofungicides in local markets, are some other key market restraints.