Bio Agriculture Industry in India

Market Overview:

The Indian bio agriculture market size reached INR 62,249 Million in 2022. Looking forward, IMARC Group expects the market to reach INR 97,147 Million by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028. Favorable government initiatives, escalating consumer awareness regarding the benefits of practicing bio agriculture, and the rising demand for organic food products represent some of the key factors driving the market.

Bio agriculture, popularly known as organic farming, primarily employs natural inputs and sustainable practices to produce crops and livestock. It helps reduce the negative impact of conventional agriculture on the environment by promoting biodiversity, conserving natural resources, and avoiding the use of synthetic chemicals and genetically modified organisms (GMOs). In addition to this, it relies on a combination of techniques and practices, such as crop rotation, intercropping, green manure, composting, and biological pest control, to maintain soil fertility and regulate various pests and diseases. Bio agriculture maintains a balance between agriculture and the environment, preserves natural habitats, reduces soil erosion, and minimizes air and water pollution. Currently, there is an expanding adoption of bio agriculture in India as it relies on renewable energy resources and helps decrease global warming levels.

Indian Bio Agriculture Market Trends:

The introduction of favorable initiatives, such as the National Programme on Organic Farming and the Paramparagat Krishi Vikas Yojana, by the Government of India (GoI) to promote bio-agriculture in the country through financial assistance to farmers represents the prime factor driving the market growth. Besides this, the rising population, rapid urbanization, inflating disposable income of individuals, and the growing demand for organic food on account of its numerous health benefits are creating a favorable outlook for the market. Moreover, the depleting levels of soil fertility in the country are fueling the adoption of bio-agriculture practices, leading to the development of agricultural biologicals, which include microorganisms, enzymes, biochemicals, biofertilizers, biopesticides, and biostimulants. This, in confluence with changing climate conditions and increasing scarcity of water resources, is contributing to the market growth. Concurrent with this, the escalating consumer awareness about the advantages of sustainable agriculture and the surging demand for breeding nutritious, high-yielding, and less resource-input-demanding crops are acting as significant growth-inducing factors. In addition to this, continuous technological advancements in bio agriculture technology, such as the development of bio-fertilizers and bio-pesticides, are presenting remunerative growth opportunities for the market. Furthermore, the widespread product adoption for promoting crop diversification and agroforestry, supportive non-governmental organizations (NGOs) activities, and the extensive export opportunities for organic food in the international market are aiding in market expansion.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian bio agriculture market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on segment.

Segment Insights:

• Transgenic Crops
• Biofertilizers
• Biopesticides
   

The report has provided a detailed breakup and analysis of the bio agriculture market based on the segment. This includes transgenic crops, biofertilizers, and biopesticides. According to the report, transgenic crops represented the largest segment.

Regional Insights:

• North India
• South India
• East India
• West India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North, South, East, and West India. According to the report, West India was the largest market for Indian bio agriculture. Some of the factors driving the West India bio agriculture market in India included escalating consumer awareness regarding the benefits of bio agriculture, rising population and urbanization, and ongoing technological advancements in the industry.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global bio agriculture market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. For each of the companies covered, the report provides business overview, services offered, business strategies, financials, SWOT analysis, and major news and events.

Report Coverage:

Key Questions Answered in This Report:

• How has the Indian bio agriculture market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the Indian bio agriculture market?
• What is the impact of each driver, restraint, and opportunity on the Indian bio agriculture market?
• What is the breakup of the market based on the segment?
• Which is the most attractive segment in the Indian bio agriculture market?
• What is the competitive structure of the Indian bio agriculture market?
• Who are the key players/companies in the Indian bio agriculture market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Indian bio agriculture market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Indian bio agriculture market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Indian bio agriculture industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.