Market Trends of US Biofungicide Industry
This section covers the major market trends shaping the US Biofungicide Market according to our research experts:
Fruits and Vegetables Fastest Market Growing Segment
In the United States, biofungicides are mostly adopted in the integrated pest management programs, particularly formulated for fruits and vegetables. Furthermore, the government is promoting the application of bio fungicides. To increase the application of bio fungicides in the agriculture and horticulture industries, companies, like Ag Biome, are receiving registrations for their products from EPA. For instance, in 2018, AgBiome and Sipcam announced a joint development project that would focus on innovative combination products for specific crop markets in the United States. The company also received approval for Zio in turf and ornamentals in the country during 2017.
Challenges in Grains and Cereals
The high value of seed germplasm led to greater use of seed treatments, including bio-controls, to protect the developing seedling in the country. The grains and cereals sub-segment of the market studied occupied only 15.4% of the market share, despite having the most significant area among all crop types. Despite a few challenges, the segment is expected to witness a CAGR of 12.9% during the forecast period. In this segment, rice, corn, and wheat are the major crops, which account for a high market share. The US government is promoting the use of bio fungicides, especially for cereals. However, they are not used widely due to low awareness and high prices.
