Indian Biopesticides Market – Growth, Trends And Forecasts (2015 – 2020)
The Indian Biopesticides Market is expected to reach $68.42 Million by 2020 from $23.92 Million in 2015. 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 $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). 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 1. Market analysis for the Indian Biopesticides Market, with region specific assessments and competition analysis. 2. Market definition along with the identification of key drivers and restraints. 3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market. 4. Extensively researched competitive landscape section with profiles of major companies along with their market shares. 5. Identification and analysis of the macro and micro factors that affect the Indian Biopesticides Market. 6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. 7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.