Market Size of US Biofungicide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.96 Billion |
| Market Size (2029) | USD 1.52 Billion |
| CAGR (2024 - 2029) | 9.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Bio fungicides Market Analysis
The US Biofungicide Market size is estimated at USD 0.96 billion in 2024, and is expected to reach USD 1.52 billion by 2029, growing at a CAGR of 9.5% during the forecast period (2024-2029).
- Among the crop types, fruits and vegetables accounted for a significant share of 55%, followed by turf and ornamental with 15.2%, in 2019.
- The need to feed an ever-growing population, coupled with an increasing demand for sustainable agricultural practices, is anticipated to drive the market's growth. Food safety is a primary concern for American consumers. Therefore, it is vital for both producers and retailers.
US Bio fungicides Industry Segmentation
The report provides an in-depth analysis of various parameters of the US bio fungicide market. The market has been segmented on the basis of crop type.
| Crop Type | |
| Grains and Cereals | |
| Oilseeds | |
| Commercial Crops | |
| Fruits and Vegetables | |
| Turf and Ornamentals |
US Biofungicide Market Size Summary
The US biofungicide market is poised for significant growth, driven by the increasing demand for sustainable agricultural practices and the need to ensure food safety for a growing population. Biofungicides are primarily used in integrated pest management programs, especially for fruits and vegetables, which dominate the market share. The government's support and initiatives to promote biofungicides, along with efforts by companies like AgBiome to secure EPA registrations, are pivotal in expanding their application in agriculture and horticulture. Despite challenges such as low awareness and high costs, the market is expected to grow steadily, with a focus on product differentiation and innovation to capture a larger share.
The market landscape is characterized by fragmentation, with major companies holding a minority share and a significant portion of the market being occupied by private enterprises. The grains and cereals segment, although not widely adopted due to challenges, is anticipated to grow at a robust rate, with rice, corn, and wheat being the key crops. The high value of seed germplasm has led to increased use of bio-controls in seed treatments, highlighting the importance of biofungicides in protecting developing seedlings. Companies are actively developing new products to enhance their market presence and cater to the evolving needs of the agricultural sector.
US Biofungicide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Crop Type
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2.1.1 Grains and Cereals
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2.1.2 Oilseeds
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2.1.3 Commercial Crops
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2.1.4 Fruits and Vegetables
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2.1.5 Turf and Ornamentals
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US Biofungicide Market Size FAQs
How big is the US Biofungicide Market?
The US Biofungicide Market size is expected to reach USD 0.96 billion in 2024 and grow at a CAGR of 9.5% to reach USD 1.52 billion by 2029.
What is the current US Biofungicide Market size?
In 2024, the US Biofungicide Market size is expected to reach USD 0.96 billion.
