India: Biological Product Market 2024

Biological Product Market Size in India

In 2022, the Indian biological product market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Biological Product Production in India

In value terms, biological product production dropped modestly to $X in 2022 estimated in export price. In general, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Biological product production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Biological Product Exports

Exports from India

After three years of growth, shipments abroad of biological products decreased by X% to X tons in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, biological product exports shrank notably to $X in 2022. Overall, exports, however, posted a slight increase. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked at $X in 2021, and then shrank notably in the following year.

Exports by Country

The United States (X tons), Nepal (X tons) and Belgium (X tons) were the main destinations of biological product exports from India, together comprising X% of total exports. The United Arab Emirates, Brazil, the Netherlands, Sri Lanka, Canada, Pakistan, Kenya, France, Colombia and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Brazil ($X) were the largest markets for biological product exported from India worldwide, together comprising X% of total exports. Canada, Sri Lanka, Belgium, the United Arab Emirates, Colombia, Nepal, Kenya, Vietnam, France and Pakistan lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Canada, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average biological product export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into India

After four years of growth, purchases abroad of biological products decreased by X% to X tons in 2022. In general, imports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2021, and then declined notably in the following year.

In value terms, biological product imports fell notably to $X in 2022. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest biological product supplier to India, with a X% share of total imports. Moreover, biological product imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Austria (X% per year).

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

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

Import Prices by Country

The average biological product import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price, however, recorded a deep downturn. Over the period under review, average import prices reached the maximum at $X,303 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X,006 per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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