India: Biological Product Market 2024

Biological Product Market Size in India

The Indian biological product market was estimated at $X in 2023, remaining constant against the previous year. Over the period under review, consumption enjoyed a strong increase. Biological product consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Biological Product Production in India

In value terms, biological product production stood at $X in 2023 estimated in export price. Over the period under review, production enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Biological product production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Biological Product Exports

Exports from India

Biological product exports from India reached X tons in 2023, increasing by X% compared with the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, biological product exports fell modestly to $X in 2023. Overall, exports saw a slight expansion. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Pakistan (X tons), Nigeria (X tons) and Bangladesh (X tons) were the main destinations of biological product exports from India, with a combined X% share of total exports. Turkey, Indonesia, Brazil, Kenya, Nepal, Algeria, Sri Lanka, the United States, the United Arab Emirates and Ethiopia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for biological product exported from India were Pakistan ($X), Bangladesh ($X) and Brazil ($X), with a combined X% share of total exports. The United States, Nigeria, Nepal, Indonesia, Algeria, Sri Lanka, Turkey, Ethiopia, Kenya and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average biological product export price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, biological product export price decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into India

In 2023, overseas purchases of biological products decreased by X% to X tons, falling for the second year in a row after four years of growth. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, biological product imports contracted dramatically to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), South Korea (X tons) and France (X tons) were the main suppliers of biological product imports to India, together comprising X% of total imports. Switzerland, Austria, China, New Zealand, Taiwan (Chinese), the UK, Germany, the Netherlands, Sri Lanka and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest biological product suppliers to India were Switzerland ($X), the United States ($X) and Belgium ($X), together accounting for X% of total imports. South Korea, France, the Netherlands, Austria, Germany, the UK, China, Taiwan (Chinese), New Zealand and Sri Lanka lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, New Zealand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average biological product import price amounted to $X per ton, waning by X% against the previous year. Overall, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X,850 per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Belgium ($X,823 per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform