India Biopesticide Market is Forecasted to Register Sales Volume of 47 thousand Tonnes by 2024: Ken Research
GURUGRAM, India, July 16, 2019 /PRNewswire/ -- Government Initiatives: Government of India has been trying to increase the income of farmers through major sources of growth operating within the agriculture sector such as improvement in productivity, using of resources efficiently or by saving in cost of production, increasing intensity of crops and diversification towards high value crops. With the improvement and enhancement of farmer's income in the country, it is anticipated that it will lead to increasing demand for bio-pesticides in the country as rising use of biopesticides will lead to improvement in the production of crops coupled with using the resources efficiently.
Future trends for PIP: Genetically modified plants are expected to gain wide acceptance owing to their better adaptability in varying environmental stimuli and tolerance to a wide range of pests. With better regulatory practices in light of toxicity and safety of GM crops, PIP's are expected to have better acceptability in upcoming years. Moreover, GM crops in addition to being tolerant to different pests can be engineered to have specific nutritional content whose deficiency leads to disorders, owing to which GM crops are expected to gain momentum in forthcoming years.
Growth in Domestic Biopesticides Market: The growth in biopesticides market has been largely impelled by increased demand for biopesticides that has been observed in the backdrop of augmenting environment concerns as caused by the continued and excessive usage of the synthetic chemical pesticides. This excessive usage has in turn reported significant injuries to humans and various non target animals. There has been a considerable degradation in the quality of the soil as witnessed on account of the heavy use of these pesticides. A major growth area for bio pesticides is likely to witness under the area of seed treatments and soil amendments. Fungicidal and bio fungicidal seed treatments are used to control soil borne fungal pathogens that cause seed rots, damping-off, root rot and seedling blights.
Analysts at Ken Research in their latest publication "India Biopesticides Market Outlook to 2024 - Government Impetus to Improve Soil Health Further Supported by Flexible Registration Process Expected to Pose Healthy Growth" believe the market is expected to register a positive CAGR of 10.3% in terms of sales during the forecast period FY'2018-FY'2024.
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For more information on the research report, refer to below link:
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/india-biopesticides-market/215821-104.html
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