Bio Rational Fungicides Market Drivers, Restraints, Trends, Regional Analysis Report 2031
According to latest research by Future Market Insights, Bio rational Fungicides market is set witness remarkable growth with CAGR between 10 to 13% during the forecast period. Looking at current scenario, growing health and environment awareness among people is projected to create robust opportunities and propel the demand in near future. Overall recovery in Agrochemical sector will also help propel growth during the forecast period.
What is Driving the
Demand of Bio Rational Fungicides?
Fungicides which have no or negligible harmful effects on
human body as well as environment are called bio rational fungicides. Due to
negligible harmful effects they qualify for use in organic greenhouses and
indoor cultivation facilities. Growing trend of adoption of organic
fertilizers, pesticides and fungicides etc., instead of chemicals is
projected to prove beneficial for the market. Growing awareness concerning the
use of organic farm products across the globe pushing the demand for such
agricultural ingredients, which will eventually drive demand for organic
pesticides including bio rational fungicides.
Additionally, the methods of fungus control are same for bio
rational fungicides and chemical fungicide, which provides an additional plus
point for marketing.
Moreover, the various regulations imposed on the use and
production of harmful chemical and their derivatives in certain regions is also
prompting manufacturers to shift towards production of bio rational products.
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Rising Demand for
Organic Farming to augment Bio Rational Fungicides Sales
Increase in per capita income of people and faster economic
growth in developing and developed economies combined with growing population
will drive the growth of this market. Rising awareness about the harmful
effects of chemical fungicides on environment and human health provides
additional advantage for adoption of organic farming.
To satisfy the growing demand of agro products, farmers
across the globe are adopting cutting edge farming techniques to increase
productivity per hectare.
However, the presence of cost effective alternatives remains
as a key challenge to overcome for the manufacturers.
India and China Bio
Rational Fungicides Market Outlook
India and China accounts for one of the biggest market for
agrochemicals owing to the significant domestic agriculture and horticulture
industry. China and India are top two countries in the world in terms of
population, the countries has enormous demand for food, and to satisfy farm
industry demand a large number of agrochemical product manufacturers are
present in these two countries. Leniency in governmental regulations and cheap
labour cost provides additional advantage to the manufacturers.
Demand for bio rational fungicides in India and China will
be driven by increasing uptake of organically produced agro products. Due to
growing awareness about organic products in the countries demand will
experience significant rise during the assessment period 2021-2031.
In addition, India also has a vast population to cater,
declining fertile land area and dependency on Agriculture creates ample
opportunities for the products helps in increasing per hectare production
capacity including bio rational fungicides.
Market has experienced a gradual drop in 2020 owing to
worldwide lockdowns and lack of transportation facilities due to COVID-19
whereas demand is set to make a V- shape recovery in the next few quarters.
In china, the ministry of Agriculture has announced a “Zero
Growth Policy of Pesticide and Fertilizers by 2020”. This policy will benefit
the market of Bio pesticides including bio fungicides.
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North America Demand
Outlook for Bio Rational Fungicides
North America has one of the matured markets for
agrochemicals across the globe. The agrochemical industry in the region has
experienced robust growth and is expected to continue on this growth pattern
during the forecast period. The countries in region are focused on increasing
the production capacity per hectare owing to declination of in the total
fertile land.
Due to some recent agriculture techniques like Integrated
pest management (IPM) and organic farming, the use bio pesticides, bio
insecticides, and bio rational fungicides in the region has received
significant promotion.
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Who are the Key
Manufacturers and Suppliers of Bio Rational Fungicides?
Some of the leading manufacturers and suppliers of bio
rational fungicides include
- Syngenta
AG
- Bayer Crop Science
- BASF
SE
- Corteva Agriscience
- FMC
Corporation
- ADAMA
- UPL
Limited
- Sumitomo
Chemical Co. Ltd.
- Nufarm
Ltd.
- Nutrichem
Company ltd.
- Mitsui
& Co. Ltd.
- kumiai
chemical industry ltd.
- Nissan
chemical corporation ltd.
- Nihon
Nohyaku Co. Ltd.
- Mosanto
Bio AG
- Rainbow
Chemicals
Many manufacturers are shifting their product portfolio
towards bio based product to compensate the shifting demand from consumer.
Research and development investments from manufacturer side is increasing in
order to cater the shifting demand and attract market by new and innovative
products, this will be key strategy for the manufacturers to elevate their
revenues and establish footprints.
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