India Bioeconomy Opportunities Consulting - Biofuels, Biomass, Biochemicals - EAI
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Relevant for the following industries

  • Cosmetics, toiletries & consumer products
  • Plastics,rubber & retail packaging
  • Life Sciences & Biotechnology
  • Food & Beverage
  • Agriculture & forest related products

EAI estimates

The Indian bio-economy sector offers many high-growth, profitable business opportunities

Would your firm like to benefit from this?

Bio-based products & solutions plays a critical role in India’s decarbonization journey, given the renewable & low-carbon nature of bio-derived solutions.

EAI estimates suggest that India’s current bio-based economy is valued at about $8-9 billion per annum (Rs. 60,000-68,000 crores), and this is likely to be about $50 billion by 2030 (Rs. 3,80,000 crores), an impressive CAGR of close to 25%. This number could increase significantly northwards beyond 2030 as well.

In addition to the country’s policies and incentives driving Net-Zero businesses, there are other significant drivers for India’s bio-economy. Prominent among these are India’s large biodiversity, the massive amount of agricultural residues generated every year (about 300 million tons), maturing technologies and economics, and the significant shift of the consumer market towards green and sustainable products. 

EAI sees attractive opportunities in the bio-economy sector for many medium and large Indian corporates, spanning product segments from fuels to chemicals to packaging materials.

Our CO3 Bio division is focused on assisting Indian corporates to benefit from the bio-economy opportunities.

What is CO3 Bio?

CO3 is a specialized consulting offering from EAI that identifies attractive business opportunities for Indian corporates arising from the large-scale decarbonization of the Indian economy, industry, and society.

The Bio division of CO3 focuses on emerging decarbonization opportunities related to the bio-economy sector in India.

Specifically, CO3 Bio provides assistance on the following dimensions, customised to your firm’s aspirations and objectives 

  • Identification of broad opportunity themes (eg: Biofuels)
  • Analysis of the overall potential of each broad opportunity 
  • Assess the technical, market, and economic feasibility of the subset of opportunities
  • Provide a go-to-market strategy for selected opportunities

Who will benefit from CO3 Bio?

CO3 Bio will be of immense value to medium and large Indian corporates operating in the following industries and sectors

  • Cosmetics, toiletries, and consumer products
  • Plastics,rubber & retail packaging
  • Life Sciences & Biotechnology
  • Food & Beverage
  • Agriculture & forest related products

The CO3 Advantage

1. Biofuels

  • Ethanol
  • Biodiesel
  • Methanol
  • Hydrogenated Vegetable Oil(HVO)
  • Biomass to Liquids (BTL)-Drop in replacement for gasoline & diesel
  • Renewable Natural Gas (RNG)(Compressed Bio Gas)
  • Bio-waste Hydrogen
  • Biofuels from Municipal Solid Waste (MSW)
  • Sustainable Aviation fuels
  • Sustainable Marine fuels

2. Biomass-based Heating & Power

  • Biomass for Power
  • Biomass boilers
  • Biomass gasifiers
  • Co-firing of biomass
  • Biomass for Heating
  • Residential heating
  • Commercial heating
  • Industrial heating
  • Biogas
  • Forms of Biomass
  • Briquettes
  • Pellets
  • Torrefied pellets
  • Charcoal
  • Processes & Technologies
  • Combustion
  • Gasification
  • Pyrolysis
  • Anaerobic digestion

3. Bioplastics and Bio-based packaging

  • Polymerized Bioplastics
  • Poly Lactic Acid (PLA)
  • PHx – PHA, PHB
  • Bio PE (Poly Ethylene)
  • Bio PET (Poly Ethylene Terephthalate)
  • Bio PUR (Poly Urethane)
  • Bio Poly Amide (Nylon)
  • Non-polymerized Bio-materials
  • Bio-based cutlery
  • Bio-based packaging for food products 
  • Bio-based packaging for industrial goods

4. Bio-chemicals & Bio-materials

  • Biochemicals
  • Cosmetics & fragrance chemicals
  • For industrial chemicals such as surfactants, carrier oils and emulsifiers
  • For food, nutraceutical ingredients & chemicals
  • Detergent & cleaning chemicals
  • Use of green chemicals in pharmaceutical industry
  • Consumer product green chemicals for furniture, paints & pigments
  • Green agrichemicals – herbicides, pesticides
  • Bio-based composites
  • Bio + metal composites
  • Bio + conventional plastic
  • Bio + construction material composites


  • India’s recent aggressive policies and incentives for growth of the bio economy are resulting in tremendous growth and investments in many segments, with biofuels (specifically ethanol) and bio-energy (biomass cofiring) seeing dramatic increase in interest.
  • Most of the states in India have bio-economy friendly policies as these have a positive impact on the rural and farming communities. Some states such as Karnataka, Uttar Pradesh, Chattisgarh, Punjab and Rajasthan are putting together even more ambitious policies as they foresee significantly higher contribution from their respective states’ bio-economy sectors.


  • Significant investment thrust from Indian and multilateral lending agencies owing to the combination of environmental and societal benefits of the bio-economy sector
  • Increasing investments from corporates as many opportunity segments emerge from their nascency and into their growth stages
  • Strong growth in venture capital and private equity investments (especially the former), and these investments are being witnessed across all the sub-sectors – biofuels, bio-energy, biochemicals and bioplastics.


  • Innovations are being witnessed across the entire spectrum of bio-economy, and from diverse stakeholders – startups, academia, farmers, small businesses, research organizations and large corporates
  • Accelerated R&D thrust by both corporates and research organizations in domains such as biochemicals and biofuels is further enhancing the innovation growth in this sector
  • India can also leverage and benefit from the dramatic growth in the global bio-economy innovation ecosystem


  • Highly positive trends in multi stakeholder collaboration  – between stakeholders all along the value chain, from farmers all the way to financing companies and end users – is driving the adoption rate of many emerging bio-economy solutions across the country.

Availability of solutions

  • Disruptive innovations reaching maturity across many segments, especially biofuels and biochemicals. Examples of these include biomass to liquid, bioplastics & other bio-based packaging, pyrolysis etc.
  • Fast improving performance & economics of technologies & solutions such as gasification and anaerobic digestion could drive production of emerging biofuels categories such as RNG and biomass to hydrogen.

We help you in hitting the ground running

In addition to helping you identify and evaluate attractive business opportunities in bio-economy, our team can help your company start off quickly with new opportunities, using some or all of the following actionables.

Invest in startups

You will get immediate access to EAI’s strong connections with hundreds of Indian climate tech startups.

Identify critical innovations

You can leverage our team’s decade long work that touches every component of the bio-economy value chain to identify effective innovations.

International partnerships

We can quickly identify and evaluate strategic and technical partnerships using our extensive network.

Work with Indian and international institutions

Depending on the opportunity, we can also help you start working with Indian and/or international organizations & research institutions. This could be especially relevant for opportunities in emerging sectors such as bio-materials, bio-based hydrogen, etc.

Understand government policies 

Our research team can assist you in  getting a deep understanding of regional, national and international bio-economy policies, and how your firm can benefit from these.

Identify key leadership talent

EAI can use its vast national contact database of senior and top management professionals to help your company onboard the best talent to steer your venture.

Red flag concerns with specific opportunities

Avoiding a suboptimal opportunity is as important as pursuing the right opportunity. Our consulting template has a special section that is allotted to analyses for areas of concern within specific opportunities.

Why should you choose CO3 Bio from EAI?

  • We provide highly specialized intelligence to your firm at an affordable price.
  • Our team’s 15 years of experience in climate technology, including bio-economy, enables you to access insights and hands-on expertise that is quite scarce in India.
  • Our team has worked across the entire bio-economy spectrum, including
    • Biofuels
    • Bioplastics
    • Bio-based materials for specific industrial applications such as automotive
    • Bio-based chemicals
    • Other bio-based value added products such emerging low-carbon animal feeds, nutraceuticals, and more
  • We will ensure that you have a complete understanding of the innovation ecosystem.
  • We are networked with most of the innovative Indian startups across the bio-economy spectrum. (See also our listing of India’s top 100 climate tech startups from here)
  • EAI has access to a vast network of professionals and key stakeholders.

Prominent consulting & report clients 

Our team has worked with central government and many state governments (Tamil Nadu, AP, Telangana, Karnataka, Kerala, Maharashtra, Uttar Pradesh), with premier institutes such as the IITs, IISc, IIMs and ISB, and specialized research organizations across the entire climate tech domain.

About EAI

EAI is India’s leading business catalyst for climate action – operating in clean energy, environment and sustainability sectors.

Through our offerings in strategic & market intelligence, partnership facilitation and business promotion for clean energy and environment sectors, we contribute to India’s sustainable growth and development.

Our thought leadership in this critical sector has been obtained through our decade plus efforts offering specialized consultancy, critical business intelligence, and in-depth research. Our reports and solutions are highly sought after by policy makers, large and small industries, and growth-seeking renewable energy companies.

Highlights of work

13 yearsOne of the few Indian firms with over a decade of expertise in climate tech consulting and market intelligence

10+ domainsWorked across every prominent climate tech domain

200+ consulting assignments undertaken

2000+ report clientsOur reports have assisted about 2500 businesses and organizations globally

10+ Fortune 100 firmsClients include the largest corporations in the world (10+ from Fortune 100 and about 30 from Fortune 500) and small but most innovative startups

25+ eventsOrganized and/or supported some of the largest clean energy & climate tech events, with over 25 events organized across the country

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