The Indian Biopesticides Market is expected to reach USD XX million by 2022 from USD 70.45 million in 2016 growing with a CAGR of 17.08. Biopesticides are derived from microorganisms and other natural sources, and are an ecofriendly alternative to the synthetic pesticides. India has huge potential for the growth of industry as it losses crops of worth USD 9259 million every year due to low consumption of pesticides in the country.
As next generation pesticides, biopesticides are gaining popularity in India. Due to presence of higher pesticides residues in food crops, specifically on grains and increasing pest resistance, developed countries are posing strict regulations on use of some synthetic pesticides, which will affect the use of synthetic pesticides and will promote the use of biopesticides in the region. Other factors driving the growth of the market are the ecofriendly nature of biopesticides, constructive public support policies, increasing public awareness and lesser development of pest resistance. The significance of biopesticides in integrated pest management (IPM) system has also increased its popularity in India. However, the domestic market has been plagued by factors hindering the potential growth of biopesticides, such as non-availability, lesser reach and continuing disappearance of mixed/multiple cropping that adversely affects demand for biopesticides.
This market can be broadly segmented into product type-bioherbicides, biofungicides, bioinsecticides and other biopesticides. By application area, biopesticides demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).
Key Industry Players
The market has more relevance today since trends show that people prefer more ecofriendly options over non-ecofriendly products and are becoming more health conscious. The major companies dominating Indian market for its products, services, and continuous product developments are Camson Bio Techologies Ltd., Sri Biotech Laboratories India Ltd., Valent Biosciences Corp, Eid Parry, Pest Control India, International Panaacea Ltd and others.
Key Deliverables in the Study