Biofungicides: A Credible ‘Residue-free’ Pesticide
The impact of ‘organic’, ‘clean label’, and ‘residue-free’-- consumer preferences that have induced tectonic shifts across a range of sectors—is noticeable in the agriculture sector as well. It has influenced farmers around the world to incorporate sustainable products and services. Ranging from growing adoption of traditional seeds to biological crop protection methods, sustainable farming has become a key focus area for the agriculture sector. The onus has also shifted to using naturally-derived pest-control materials, creating increased demand for biofungicides and bioinsecticides.
The developments influencing better crop production to sustain the needs of a growing populace, and the biofungicides market in particular, warrant an in-depth understanding and unbiased analysis of this market. Transparency Market Research, in its new research study, unveils compelling insights to assist key stakeholders in the biofungicides market with value-creation and data-driven decision-making.
Biofungicides Demand Bolstered by Shift to More Sustainable Agriculture
The use of biofungicides, now gaining increasing attention in the view of the rising demand for organic and residue-free foods, has come a long way since it started in the 17th century before the advent of synthetic pesticides. The global sales of biofungicides closed in on US$ 220 million in 2018, and the number of players competing for a share of the pie of this lucrative market continues to rise with each passing year.
Since the intensive and frequent excessive use of chemical pesticides has increased, the resistance strength of plant pathogens has also increased. This has become a threat to public health and environment; hence, focus has shifted back to R&D activities and introduction of biofungicides and other bio-based substitutes. With increased attention being paid toward sustainable agriculture and the boom in the organic farming industry, especially in developed regions, biofungicide companies should be looking at a period of sustained demand.
However, it is pertinent to note that, most farmers, particularly in developing regions, are familiar with chemical-based agro-products, and are reluctant to adopt advanced products on account of financial barriers; this continues to be a challenge for biofungicide suppliers. Further, biofungicides are widely regarded for their heat-resistant properties, however, biologicals have a tendency to be washed away by rain or irrigation systems, and these perceptions have meant that a significant section of farmers have stayed away from them.
Trends Reforming the Biofungicides Landscape
Biofungicides are used as a pest-control in the cultivation of cereals, grains, fruits & vegetables, oilseeds & pulses. However, it has been the tectonic shift in consumer preference for organic fruits and vegetables that has led to a spike in their demand in the recent past. In the biofungicides market, product development and innovation strategies are underpinned by the rising demand for bio-based agro-products that not only increase agricultural yield but also ensure food security.
With regulatory agencies enforcing strict pesticide-residue-related regulations and conducting continuous revaluation of registered pesticides, biofungicides companies are likely to have a shot at capitalizing on the void. In addition, food-safety and other chemical-use regulations in various countries, along with pitfalls in the reregistration of synthetic fungicides with regulatory bodies, are likely to boost adoption of biofungicides.
Microbial Pesticides: A Tool for Green Farming Practices
Microbial pesticides continue to experience higher demand as compared to biochemical pesticides and plant-incorporated protectants. As microbial pesticides account for nearly 60% share of the biofungicides market, manufacturers are specifically focusing on this category, providing broad-spectrum disease control and increased crop yield potential.
Innovations have been witnessed in biofungicide seed treatment formulations and microbial fungicide technology. As the sales of microbial pesticides remain high, key manufacturers are wary about spending on other sources of biofungicides. These factors are further intensified when BioSafe Systems, a leading player in the biofungicides market, announced the launch of its PVent Biological Fungicide, an enhancement in microbial fungicide technology, which offers farmers with an easy-to-use, versatile integrated pest management (IPM) tool. PVent has a 93% Gliocladium catenulam strain J1446 as an active ingredient, allowing it to thrive across a wide range of temperatures and humidity. This strategic move by BioSafe Systems is likely to influence other developers to invest in microbial pesticides.
The Competitive Landscape
The biofungicides market shows a high level of fragmentation, with the significant presence of regional players and local players; the top five players collectively account for less than 10% share of the market.
Considering the nature of the product, registration from regulatory bodies and issuance of patents continue to be influencing aspects, and to stay competitive, a majority of developers have expanded their product portfolios that meet all the registration standards. Further, leading biofungicides market players are focusing on strengthening the product portfolios through new launches. For instance, in 2018, Maronne Bio Innovations, Inc. launched a series of biopesticides, including REGALIA CG, GRANDEVO CG, and VENERATE CG, in the United States, which are formulated to control highly destructive pests and diseases.
For companies to expand their business networks and strengthen their reach in different geographies, the appointment of new distributors also remains a key focus area. Government efforts to increase awareness regarding the beneficial application of biofungicides, especially in developing countries, has led to the realignment of strategies. Many leading players such as Marrone Bio Innovations, Inc. have entered into partnerships with regional distributors to push the sales of biofungicides and their other product lines in Vietnam, Cambodia, and other Southeast Asian countries.
Comments