According to the latest report by IMARC Group, titled, “Indian Bio Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The reached a value of INR 53,125 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
Bio agriculture refers to organic or biodynamic farming practices that produce high quality and nutritious produce without the use of synthetic fertilizers or agricultural chemicals. According to the World Organic Agriculture 2019 study, published by IFOAM – Organics International and the Research Institute of Organic Agriculture (FiBL), India has one of the highest numbers of organic farmers in the world. Biological farming is widely practiced by farmers in India to achieve a balance between the physical, chemical and biological facets of the soil aided by improved organic content. They utilize the latest technologies to maximize the activity of soil microbes through the provision of proper soil nutrition and structure.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Indian Bio Agriculture Market Trends:
In recent years, there has been a significant shift toward bio agriculture practices in India. This trend can be accredited to the excessive use of fertilizers and artificial growth regulators that have led to soil pollution and increased the levels of chemicals in the food chain. Besides this, the growing health-consciousness has encouraged consumers to opt for organic products, which in turn is providing a positive impact on the industry. Along with this, the rising environmental concerns have also prompted farmers to practice bio agriculture as it is a chemical-free method that ensures optimum utilization of natural resources and helps in conserving them. Moreover, the Government of India has introduced various schemes and programs to promote bio- agriculture so as to meet the rising demand for food across the country. Some of these schemes include the National Mission for Sustainable Agriculture (NMSA)/Paramapragat Krishi Vikas Yojana (PKVY), Rashtriya Krishi Vikas Yojana (RKVY), Mission for Integrated Development of Horticulture (MIDH), National Mission on Oilseeds & Oil Palm (NMOOP), and Network Project on Organic Farming of ICAR.
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Indian Bio Agriculture Market 2021-2026 Analysis and Segmentation:
The report has segmented on the basis of segment and region.
Based on the segment:
- Transgenic crops
- Biofertilizers
- Biopesticides
Bases on region:
- North India
- South India
- East India
- West India.
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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