28 April 2023, New Delhi: Absolute has announced the launch of its biological agri-input business, Inera CropScience. The company’s crop-agnostic range of biofertilizers, biostimulants, biocontrols, and seed coating products has been launched in India, where Inera aims to meet the needs of 20% of the world’s population and the highest arable land of any single nation in the world.
The global agriculture input market, which includes inputs such as fertilizers, pesticides, seeds, and other crop protection chemicals, was valued at $241.4 billion in 2020 and is expected to reach $330.1 billion by 2026, with a CAGR of 5.2% during the forecast period. The demand for agricultural inputs is driven by the increasing need for food security due to the rising global population, urbanization, and changing dietary habits. The growing trend towards sustainable agriculture practices is also driving the demand for bio-based inputs such as bio-fertilizers, bio-pesticides, and other bio-stimulants.
Inera intends to capture a 20-30% industry market share in subsequent years as the world rapidly adopts biologicals, with the CAGR in the US at 12%, EU at 9%, Asia at 11%, and MEA at 10%. The sector is gradually getting cluttered with “me too” markets, with fierce competition and multiple players making products that are already well-established. However, there are far fewer players in the biological sector that are building innovative, high-quality products, and this is the gap that Inera aims to fill.
Inera has made crucial strategic investments in expanding research and manufacturing capabilities to meet the demands of end consumers. The specialty sector is gaining rapid momentum, and Inera intends to become a key market player in this sector, which is a triple-digit-billion-dollar market. To begin with, Inera will be going live across 16 states in India including Andhra Pradesh, Karnataka, Tamil Nadu, Punjab, Haryana, etc with the help of local channel partners (distributors) who are being onboarded. Inera also plans to explore channels for consumers through D2F and e-commerce in the upcoming phases.
The company’s products are backed by extensive research in molecular biology, microbiology, epigenetics, -omics, and synthetic biology. Inera products are developed using its proprietary Natural Intelligence PlatformTM and formulated using STREAC (Signal Triggered Regenerative Activation Complex) Technology to preserve biological agents, extend their shelf-life & improve performance considerably. Inera’s portfolio is powered by Xenesis, which comprises 150+ leading scientists, many of whom have returned from Israel, the US, South Korea, and Africa.
Since its inception in 2015, Absolute has invested more than USD 12 million in R&D and will continue to make such investments in the future. The company runs approximately 5 million square feet of world-class R&D for product development and testing across Karnal, Haryana; Indore, Madhya Pradesh; Trichy, Tamil Nadu, Dhamda, Chhattisgarh; and more locations near Delhi, covering 12 major crop varieties across field crops, cereals, fruits, cash crops, vegetables, pulses, etc., with state-of-the-art laboratories headquartered at the Xenesis Institute in New Delhi. Absolute is further bolstering its research capabilities by expanding to Pune.
Speaking on the launch Agam Khare, CEO & Founder of Absolute Inera Cropscience, says, “A true breakthrough in agriculture can only come from an unparalleled understanding of why nature and plants behave the way they do, by understanding their choices and preferences, and then marrying that science with the latest in technology to build sustainable products and services that impact at scale. Inera is committed to bringing exceptional crop health and protection products that improve farmer profitability, environmental sustainability & climate resilience.”
Prateek Rawat, COO & Co-founder of Absolute Inera Cropscience, says, “Inera is invested in building a robust range of sustainable biological inputs for agriculture worldwide. With the dynamic landscape of modern farming, growers need inputs that are broad in their use and tolerance. Sustainability, in terms of resource use and health of the natural ecosystem at large, is built into everything we do.”
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