Oct. 21, 2015
Biostadt India Limited, a leading agriculture inputs and services company in India, is in the business of serving the farming community by delivering continuous research based innovative and customized biotechnology products and solutions for plant nutrition and crop protection. The company’s flagship brand ‘Biozyme’, a novel seaweed extract based Biostimulant launched under parent company Wockhardt Limited in 1986, has been a pioneer in its segment. Biostadt India Limited was established as an Independent company in 2003, after it demerged from Wockhardt. Recently Biostadt India Limited CEO, D. K. Chopra has shared with AgroPages his viewpoints on global and India biostimulant industry in an interview with him.
1) How do you think of the current development of the global and India Biostimulant industry?
The global biostimulants market is growing at a rapid pace in the last few years. Key factors driving this growth include demand for environmentally safe and organic products, urgent need to restore degraded soil and negate harmful effects of chemical inputs, proven performance of Biostimulant products, increasing food production demand, companies offering customized solutions and working to increase awareness of this category.
With respect to the market size, the global Biostimulants market, at Active Ingredient (AI) level, was estimated to be about $1245 Million in 2013 and expected to grow at a CAGR of 12.5% to reach $ 2241 Million by 2018, as per reliable sources of information. The estimated Biostimulant market revenue share for Europe is 42%, N America at 21%, APAC at 20%, Latin America at 13% and the Rest of World contributing 4%.
By Active Ingredients, Acids is the dominating segment constituting 51% of market size, Seaweed Extracts at 37% and the rest 12% coming from B-vitamin, Chitin, Chitosan etc.
Foliar is the main application method at 84%, followed by Soil and Seed Treatment at 8% each. By Crop type, Row Crops has the largest share of Biostimulant revenue market share at 61%, followed by Turf & Ornamentals at 22%, Fruits & Vegetables at 7% and Others contributing 10%.
As per reliable sources of information, the India Biostimulant market is about 7% of the global market. The India Biostimulant market, at Active Ingredient level, currently estimated to be about $87 Million in 2013 is expected to grow at a CAGR of 13.2% to be about $161 Million by 2018. It is difficult to estimate the market size in terms of finished goods, since for example in seaweed extract based Biostimulants, the percentage of AI in granules form varies from 2% to 5% and in liquids it can vary from about 20% to 33%.
Similar to the global market, by Active Ingredients, Acid based Biostimulants is a dominating segment in India at 51% followed by Seaweed Extracts at 39% and the 9% coming from Other types like B-vitamin, Chitin, Chitosan products etc.
In India, due to the absence of any regulations for Biostimulant segment, there are large number of local or unorganized players each operating in small pockets of the markets. Bigger quality focused companies therefore face a constant challenge to operate in markets filled with poor quality, spurious and me too brands. On the positive side, a number of big established companies are introducing research based quality Biostimulants as well as creating awareness and educating farmers about the benefits of sustainable biological based Agri-inputs and practices.
2) Could you introduce Biostadt’s competitive biostimulant products especially for seaweed extract products?
Biostadt’s state of the art R&D center - InGene Biostadt Research Lab, recognized by Council of Scientific and Industrial Research - Govt. of India, plays a vital role in the development of Biological formulations with core competencies in seaweed based Biostimulants.
The company’s flagship brand ‘Biozyme’, a novel seaweed extract based Biostimulant, has been a pioneer in the seaweed Biostimulant segment. Biozyme is based on nutrient rich Ascophyllum nodusom extract seaweeds of North Atlantic ocean - and is powered by BILT (Biostadt Induced Lacto-fermentation Technology).The revolutionary brand Biozyme continues to provide us an edge over our competitors as also garnering the trust of millions of farmers by enhancing their farm outputs.
Biostadt has developed crop specific variants of Biozyme that address the specific requirements of various crops like Paddy, Wheat, Cotton, Sugarcane, Soyabean, Fruits, Vegetables etc. Biozyme is available in granule and liquid formulations.
In addition Biostadt is engaged in further developing the Biostimulant portfolio with the introduction of specialty Plant Growth Stimulants like Amaze-X to deliver outstanding results & superior yield. Rejoice is first of its kind new generation Biostimulant.
Outside India, Biostadt exports its Bio-Organic Stimulants under the brand name Wokozim. Wokozim with more than two decades of successful track record is trusted in over 20 countries around the world.
The Nanozim range of seaweed extract organic Biostimulants caters to the unique nutritional requirements of horticultural crops. The Nanozim brand is also growing in popularity in the home and garden space.
3) Compare with other Biostimulant companies, are there any new product promote plans on your target markets?
Biostadt as a company is driven by opportunities based on real needs of farmers. We do not necessarily track the plans of other large companies in this domain. The company’s R & D center, which is accredited by CSIR, Govt. of India, has a pipeline of new projects and a list of innovative ideas. We shall always endeavor to come up with innovative Biotechnology based products not only for improving crop productivity but also for different crop protection applications.
4) What are the favorable factors and unfavorable factors for the development of global biostimulant industry in the future?
There are lot of favorable factors for global biostimulant industry. On the demand aspect, world’s growing population and growing demand for eco-friendly organic products along with increasing purchasing power is increasing the demand for high quality safe food. Biostimulants are seen as negating the harmful effects of excessive usage of chemical fertilizers and pesticides and restoring degraded soil. Biostimulants have proven performance records in enhancing yield, quality and productivity. Modernization in agriculture practices is further aiding the growth of the Biostimulant industry.
With regards to company initiatives, Biostimulant companies are offering customized product solutions specific for crops, soil; educating farmers about biological products; as also expanding the geographic coverage of product availability. Companies are also entering into Agreement & Partnerships with other Biostimulant manufacturers across different countries.
Regarding unfavorable factors, the Biostimulant industry is still confronted with many challenges. The awareness and knowledge levels regarding Biostimulants is at a low level. Unlike fertilizers or seeds; Biostimulants are not regarded as a basic input by many farmers. There are many poor quality, spurious Biostimulant brands in the market due to lack of clarity on registration of Biostimulants.