India Bioeconomy Market Insights Forecasts to 2033

• The India Bioeconomy Market Size was valued at USD 136 Billion in 2023.
• The Market is Growing at a CAGR of 11.80% from 2023 to 2033
• The India Bioeconomy Market Size is Expected to Reach USD 415 Billion by 2033

The India Bioeconomy Market Size is Anticipated to Exceed USD 415 Billion by 2033, growing at a CAGR of 11.80% from 2023 to 2033.

Market Overview

The bioeconomy involves utilizing biological resources, along with knowledge, technology, and innovation, to create products and services for all sectors of the economy, ultimately working towards a sustainable economic model. The goal of the bioeconomy is to promote sustainable development as well as circularity. The principles of the circular economy, such as reusing, repairing, and recycling, are integral to the bioeconomy. By reusing, repairing, and recycling, the overall volume of waste and its repercussions are diminished. Additionally, it conserves energy, reduces soil, air, and water pollution, ultimately aiding in the protection of the environment, climate, and biodiversity. The bioeconomy is mainly dominated by food systems. Added to these systems are bio-based products and bioenergy, in addition to sustainable agriculture, sustainable fishing, forestry, and aquaculture, as well as food and feed manufacturing. Bio-based products such as bioplastics, biodegradable clothing, and other eco-design related products are included in the category. Similar to biomass, which is one form of renewable energy, bioenergy enhances energy supply security, decreases reliance on energy imports, and generates fresh prospects for economic expansion and job creation.

Report Coverage

This research report categorizes the market for the India bioeconomy market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the India bioeconomy market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the India bioeconomy market.

Driving Factors

The bioeconomy involves utilizing renewable biological resources to create food, energy, and industrial products, promoting sustainability. The advancement of technology, including gene editing and bioprinting, plays a crucial role in driving the bioeconomy. Effective collaboration among bioeconomy industries will support the achievement of sustainable long-term objectives. Enhanced funding for research, innovation, and education. Studies regarding bioeconomy topics often lack connection with practical implementation. In order to prevent this, it is important to encourage public-private partnerships. Improving coordination and engagement in policy. It is crucial to enhance synergies and coherence among bioeconomy-related policies, initiatives, and economic sectors. Enhancing markets and enhancing competitiveness.

Restraining Factors

A complex regulatory system with various governing bodies causes challenging and sluggish permitting procedures. This challenge is highlighted by three underlying themes.

Market Segmentation

The India bioeconomy market share is classified into resources and technologies.

• The agricultural crops segment is expected to hold the largest market share through the forecast period.   

The India bioeconomy market is segmented, by resources into biological feedstocks, agricultural crops, microbial resources, bacteria, and plant extracts. Among these, the agricultural crops segment is expected to hold the largest market share through the forecast period. India possesses a large agricultural industry that serves as a significant supplier of raw materials for the bioeconomy. Agricultural crops play a key role in the production of biofuels, biochemicals, bioplastics, and other bio-based products.

• The bioprocessing & biomanufacturing segment dominates the market with the largest market share over the predicted period.

The India bioeconomy market is segmented by technologies into genetic engineering & synthetic biology, bioprocessing & biomanufacturing, bioinformatics & computational biology, bioremediation & environmental biotechnology, and biocatalysis. Among these, the bioprocessing & biomanufacturing segment dominates the market with the largest market share over the predicted period. India plays a significant role in the worldwide biopharmaceutical sector, having a strong setup for manufacturing biopharmaceuticals like vaccines, monoclonal antibodies, and recombinant proteins. Bioprocessing and biomanufacturing technologies play a crucial role in increasing production levels and maintaining high quality standards.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the India bioeconomy market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Biocon Limited
• Serum Institute of India
• Dr. Reddy’s Laboratories
• Cipla Limited
• Lupin Pharmaceuticals
• Wockhardt Limited
• Hikma Pharmaceuticals
• Zydus Cadila
• Glenmark Pharmaceuticals
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at India, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the India Bioeconomy Market based on the below-mentioned segments:

India Bioeconomy Market, By Resources

• Biological Feedstocks
• Agricultural Crops
• Microbial Resources
• Bacteria
• Plant Extracts

India Bioeconomy Market, By Technologies

• Genetic Engineering & Synthetic Biology
• Bioprocessing & Biomanufacturing
• Bioinformatics & Computational Biology
• Bioremediation & Environmental Biotechnology
• Biocatalysis