India Agricultural Biologicals Market Size, Share, Growth and Trends

The India agricultural biologicals market was valued at USD 446.26 million in 2022. It is projected to grow from USD 505.50 million in 2023 to USD 1,269.24 million by 2030, reflecting a compound annual growth rate (CAGR) of 14.06% during the forecast period.

Agricultural biologicals, derived from biological materials such as food, plants, trees, and biological waste, offer effective alternatives to conventional chemicals. They help reduce reliance on fossil fuels, lower carbon emissions, and support ecological balance. Despite its smaller size compared to the synthetic crop protection chemicals industry in India, the market for agricultural biologicals is expanding. Key products in this sector include biofertilizers, biopesticides, and biostimulants.

This information is detailed in the research report titled “India Agricultural Biologicals Market, 2023-2030” by Fortune Business Insights™.

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Segmentation:

Biostimulants Segment Dominates the Market Due to their Usage in Enhancing Nutrient Use Efficiency

Based on type, the market for agricultural biologicals is fragmented into biofertilizers, biostimulants, and biopesticides. The biostimulants segment holds a dominating share in the market. This is due to the product usage in improving the efficiency of nutrient use in crop cultivation.

Biochemicals Segment to Register Leading Share as they are a Good Substitute for Conventional Chemicals

On the basis of source, the market for agricultural biologicals is subdivided into biochemical and microbial. The biochemical segment is slated to lead the global market share throughout the estimated period. The products help decrease the dependence on fossil fuels. This comes as they serve as a good substitute for conventionally used chemicals.

Foliar Spray Segment to Hold the Largest Share Due to Increasing Product Deployment on Large and Small-sized Farms

By application method, the market is fragmented into soil treatment, foliar spray, seed treatment, and others. The India agricultural biologicals market share from the foliar spray segment is touted to hold a key market share. This is due to surging deployment of the product on large and small-sized farms.

Row Crops Segment to Lead Driven by Surging Demand for Sustainable Products from Farmers

By crop, the market for agricultural biologicals is fragmented into row crops, fruits & vegetables, and others. The row crops segment is poised to register the largest share in the market throughout the study period. This is due to the increasing demand for sustainable products from farmers.

Report Coverage:

The report outlines the primary factors driving growth in the India agricultural biologicals market and evaluates the impact of the COVID-19 pandemic on market expansion. It also includes an analysis of strategic initiatives by key industry players, such as partnerships, product innovations, and market expansions, aimed at strengthening their market positions. This comprehensive approach helps stakeholders understand the current dynamics and future prospects of the market.

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Drivers and Restraints:

Growing Investments in Advanced Technologies to Drive Industry Expansion

Industry manufacturers are increasingly focusing on advanced nanotechnology production methods to develop cost-effective and environmentally friendly solutions. The rise in investments from both private and public sectors in advanced technologies and the creation of new biocontrol products are expected to drive the growth of the agricultural biologicals market in India over the forecast period.

However, the industry faces challenges such as limited shelf life and high production costs, which could significantly hinder market expansion. Addressing these issues will be crucial for sustaining growth and maximizing the benefits of advanced technologies.

Competitive Landscape:

Prominent Industry Players Develop New Products to Consolidate Market Position

Key market players are investing heavily in research and development to innovate and create new products, seeking to gain a competitive edge. Additionally, companies are forming partnerships and collaborations to expand their product distribution and geographical reach. These strategic initiatives are vital for strengthening market presence and enhancing competitiveness in the agricultural biologicals sector.

Key Industry Development:

May 2022 – UPL Group acquired a naturally derived fungicide dubbed “OptiCHOS” for its NPP (Natural Plant Protection) business unit. The NPP portfolio constitutes biologically derived and natural technologies and agricultural inputs. The addition would help the company to address key farmer pain points at the global level.

List of Key Players Mentioned in the Report:

• Coromandel International Limited (India)
• SOM PHYTOPHARMA (INDIA) LIMITED (India)
• UPL Limited (India)
• PI Industries Ltd (India)
• Sumitomo Chemical Co., Ltd. (Japan)
• Indian Farmers Fertilizer Cooperative Limited (India)
• Ajay Bio-Tech (INDIA) Ltd. (India)
• Biotech International Ltd. (India)
• IPL Biologicals (India)
• Stanes and Company Limited (India)

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