Biofungicides Market to Reach over US$ 730 Mn by 2027

The seriousness shown by agriculturists and farmers to protect grains, weeds, and plants has given an impetus to the growth of the global biofungicides market. The antibacterial action of biofungicides makes them a sound alternate to concentrated solutions or chemicals used for killing bacteria from agricultural fields. Moreover, several experts and researchers consider biofungicides as an organic means of corp protection. The huge-scale investments directed towards enhancing agricultural productivity has played a vital role in the growth of the global biofungicides market. The use of biofungicides is suggestive of sophisticated standards of agriculture and horticulture. Affluent farmers have easy, especially in the developed countries, get easy access to biofungicides.

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Transparency Market Research, in a research report, finds that the global biofungicides market market would expand at a stellar CAGR of 14% over the period 2019 and 2027. Furthermore, the total value of the global biofungicides market is expected to reach over US$ 730 Mn by 2027. Based on application, the demand for biofungicides to sustain fruit and vegetable cultivation is on a rise.

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Storage and Procurement of Biofungicides

Dry biofungicides are easier to store, whilst their liquid form can be conveniently sprayed across the field. For all practical purposes, farmers use both of these varieties to steer clear of unanticipated challenges. Furthermore, financial incentives extended by the government have helped these farmers in maintaining a sustained stock of biofungicides. The most commonly used biofungicides are composed of sulfur, captan, mefenoxam. The activity of biofungicides is extensively studied across test laboratories and research centers. This factor has also propelled demand within the global market.