Biosolutions market to touch US$10 BN by 2025 as consumers demand more sustainable food systems
MUMBAI/LONDON, 28 June 2021: UPL Ltd (NSE: UPL & BSE: 512070) crop protection company leading in sustainable agriculture products and solutions has announced that it has launched a new business unit under the name of ‘NPP’ – Natural Plant Protection.
The company is a press release said that NPP will act as a standalone brand, consolidating UPL’s existing bio solutions portfolio, network of R&D laboratories and facilities worldwide, which currently accounts for 7 percent of UPL’s total revenues.
NPP’s global offering will continue to benefit from UPL’s extensive global distribution footprint, drawing on innovation, research and development capabilities, and will be supported by UPL’s unique, proven ability to rapidly bring products to market on a global scale.
NPP’s extensive portfolio will play a vital role addressing farmers’ pain points that includes abiotic stress, soil health, residues, and resistance management in developed and developing agricultural markets alike.
Speaking on this, UPL global CEO Jai Shroff said, “The strength of our current portfolio is testament not only to our progressive approach to sustainable agriculture, but also to the dedication of our teams across the world to meeting the innovation and technology needs of farmers, consumers, and the environment."
"Our OpenAg purpose places collaboration at the heart of progress, and NPP will work across UPL’s global footprint to shape and scale the biological technologies of the future,” Shroff added.
NPP's chief operating officer Fabio Torretta said, "NPP can change the world. It has the right capabilities, the right mindset, and the right technical skills and resources to drive a new era of positive, progressive change in agriculture. The bio solutions market is set for double-digit growth to US$10 billion by 2025, compared to traditional agrochemicals, which are projected to experience single digit growth. NPP is well positioned to shape a more sustainable food future.”
One of NPP’s greatest strengths will be the company’s ability to cross-pollinate innovation across regions, understanding and learning from the needs of one market to increase the speed and depth of penetration into another market, the statement adds.
The company also said that it will adding products and platforms to its portfolio, creating global partnerships and training programs, contributing to environmental sustainability, farmer resilience, and improving food value chains worldwide.
