The India Biopesticides market is anticipated to register a CAGR of 7.3% during the forecast period. Biopesticides include all biological materials and organisms used to control pests. Currently, a small segment, the biopesticides market is expected to grow in the future, owing to government support and increasing awareness about the use of non-toxic, environment-friendly pesticides. The problem of chemical pesticide residues, popularity for organic farming, environmental concerns, and the easy registration process are the prime drivers of the markets. Less awareness among the farmers and the high prices of the biopesticides are the key market restraints.
Key Market Trends
Popularity for Organic Farming is Driving the Market
Organic farming in India has become very popular, acting as the main driver for the biopesticide market. According to FAO, the country had 1.9 million hectares of land under organic cultivation in 2018, which was 0.2 million hectares more than the previous year. The country had 0.65 million organic producers, producing 1.35 million metric ton of organic food in 2016. Such a vast organic farming industry is fueling the biopesticide market in India, and it is anticipated to continue in the future.
Increasing Biopesticide Consumption
In India, the usage of biopesticides is growing at a faster pace than that of the chemical variety. According to the Indian Ministry of Agriculture, in the last 10 years, consumption of bio-pesticides increased by 23%, while that of chemical pesticides grew only by 2%. The main reason for such a massive boost in biopesticides is the government support for the biofertilizer industries and rising awareness among the farmers. In 2016, the biopesticides consumption was recorded as 15% of the total pesticide consumption.
The biopesticides market in India is highly fragmented with many companies. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading biopesticides manufacturing companies in India. The companies are investing heavily in research, launching new products, and in the promotion of their products.
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