According to the latest report by IMARC Group, titled “Indian Bio Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the Indian bio agriculture market size reached INR
57,162 Million in 2021. Bio agriculture refers to organic or biodynamic farming practices that help produce high-quality and nutritious products. It eliminates the use of synthetic inputs, such as synthetic fertilizers and pesticides, veterinary drugs, preservatives, genetically modified seeds and breeds, additives, and irradiation. It mainly relies on the utilization of aerobic compost and associated liquid inoculums, along with bio-fertilizers and organic additives, to improve the soil quality. It aids in maintaining and increasing the long-term soil fertility and preventing pests and diseases.As it is sustainable and assists in breeding nutritious, high-yielding, and less resource input-demanding crops, it is gaining immense popularity across India.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Indian Bio Agriculture Market Trends:
The flourishing agriculture sector in India represents one of the key factors strengthening the growth of the market. Apart from this, there is a rise in the demand for sustainable farming methods. This can be accredited to the growing awareness among farmers about soil degradation caused by the increasingutilization of fertilizers and artificial growth regulatorsthat enters the food chain.In line with this, rising consumption oforganic productsisimpelling the market growth as bio agriculture ensures the optimal employment of natural resources. Furthermore, there is a considerable shortage of food on account of the extensively growing population in the country. As a result, the Government of India is continuously funding agriculture infrastructure. They are also introducing numerous schemes and programs to promote bio agriculture, which is acting as another growth-inducing factor. Looking forward, IMARC Group expects the market to exhibit a CAGR of 7.6% during 2022-2027.
- Based on the segment, the market has been divided into transgenic crops, biofertilizers, and biopesticides. Currently, transgenic crops account for the majority of the total market share.
- Region-wise, the market has been segmented into North, South, East, and West India.
- The competitive landscape of the market has been examined, along with the profiles of the leading players operating in the industry.
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