What’s Driving Biopesticide Adoption in India?
10 November 2023 The biopesticides market in India is projected to reach $130.37 million by 2029, growing at a CAGR of 9.38%. This growth is driven by the rising demand for organic and biological products and a focus on crop protection strategies. Biopesticides are gaining popularity among farmers due to their ability to control soil erosion, soil-borne pathogens, and other diseases, according to a recent issue of AgriBusiness Global DIRECT.
The market is also fueled by an increase in exports of fruits and vegetables, farmers’ awareness of the efficacy of biopesticides, the implementation of integrated pest management strategies, and an increase in organic farming acreage. Microbial biopesticides, which protect crops against bacteria, fungi, and other pollutants, dominate the Indian biopesticides industry. Companies like Coramandal International have developed a wide range of microbial biopesticides. The Indian biopesticides market is divided into biofungicides, bioherbicides, and bioinsecticides segments. The bioinsecticides segment is growing faster due to the country’s tropical climate. India primarily uses biopesticides in the fruits and vegetables segment, followed by oilseeds and cereals.
However, the usage of biopesticides in India is still relatively low compared to conventional chemical pesticides. Challenges include lower adaptability and declining interest from farmers, technological challenges related to production and application, and a lack of awareness among the farming community.
The Indian biopesticides market is fragmented, with the top five companies occupying a 9.83% share. Major players in the market include Coramandal International, GrowTech Agri Science, Gujarat State Fertilizers & Chemicals, IPL Biologicals, and T.Stanes and Company. Coramandal International expects the Indian biopesticide market to grow at a CAGR of 13% in the next five years. The company is strengthening its research and development efforts to launch new products and improve shelf life and bio efficacy. GrowTech Agriscience plans to increase farmer awareness through seminars and other initiatives.
Overall, the future of the biopesticides market in India looks promising, driven by increasing consumer demand for organic products and the need for sustainable crop protection strategies.
Read more at AgriBusiness Global DIRECT.
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