Top Companies in India Agrochemicals Market Amid Climate Change

The India agrochemicals market value reached USD 3.23 Billion in 2024 and is expected to grow at a CAGR of 4.10% during the forecast period of 2025-2034 to attain a value of USD 4.83 Billion by 2034. As per the analysis by Expert Market Research, the market growth is led by the growing importance agrochemicals play in enhancing crop yield and ensuring crop safety. Innovations in agrochemical formulations lead to more sustainable and environmentally friendly products which cater to businesses that prefer organic options.

The agrochemicals market in India comprises a wide variety of chemical products which are designed keeping in mind the safety of the crops and the consumers. These chemicals enhance productivity and protect crops against pests, diseases, and weeds. Major categories of agrochemicals include pesticides, fungicides, herbicides, plant growth regulators and fertilizers among others. Other than keeping the crops safe in the fields, these chemicals are also important in controlling the outspread of unwanted diseases, keeping stored grains safe, preventing the growth of weeds even before the crop is planted, preventing fungal growth in harvested crops, and ensuring better market quality of fruits and vegetables.

The India agrochemicals market growth is driven by product innovations and new product launches in the market along with technological innovations in manufacturing techniques. In December 2023 Sumitomo Chemical announced plans to invest over USD 35 million to set up a new 50-acre agrochemical manufacturing plant in India in the state of Gujrat. In May 2024, BASF launched a new pesticide ‘Efficon’ to help the farmers in India combat piercing and sucking pests. India is among the first nations globally to acquire this innovative chemistry, which will assist farmers in controlling difficult-to-control pests. Also, in April 2024, Godrej Agrovet Limited, a leader in agrochemicals in India launched Hanabi, a new pesticide designed specifically to eliminate mites in apple orchards, for states like Kashmir where apples form a major chunk of the economy.

Leading Agrochemicals Companies in India:

1. UPL Limited

UPL leads the market with an impressive portfolio of value chain services that it provides in market like crop protection products, farm equipment and services, seeds, and post-harvest natural solutions. The company has more than 14,000 product registrations with a presence in more than 138 countries across the world. UPL Limited reported a revenue of USD 6.7 billion in the financial year 2023.

2. Bayer AG

Bayer AG is a leader in the field of life sciences such as nutrition and healthcare with a workforce of 99,723 as of December 2023. The company focuses on providing innovative solutions to individuals and businesses in agriculture. They provide a comprehensive product portfolio of pesticides, herbicides or more sustainable options like biopesticides and also provides solutions through digital farming systems which help enhance operational practices.

3. Syngenta Crop Protection AG

Syngenta Crop Protection AG has more than 30,000 employees in over 90 countries worldwide who help transform farming and agriculture through multifarious products and innovative solutions. Their primary business involves crop protection through the use of various products such as insecticides, herbicides, and fungicides and also through technological solutions such as novel monitoring techniques, fast-developing digital technologies, and new breeding techniques among others.

4. BASF SE

BASF aims to facilitate farming and agricultural practices through the integration of sustainable and environmentally friendly solutions by providing chemicals, products for nutrition and care, and industrial and technological solutions. With around 112,000 employees working in the BASF Group across the globe, the company generated sales worth EUR 68.9 billion in the financial year 2023.

5. PI Industries Limited

PI Industries Limited is a leader in fine chemicals and agrisciences in the Indian subcontinent and provides innovative products and technological solutions to businesses and individuals involved in the agriculture sector. The company has over 3000 employees and boasts 15 multipurpose plants in four manufacturing locations catering to customer needs through agrochemicals like various pesticides and herbicides.

6. Sumitomo Chemical Co., Ltd

Sumitomo Chemical Co., Ltd originated from Sumitomo Fertilizer Manufactory, now produces pharmaceuticals and agrochemicals with a focus on providing solutions for crop protection to discerning customers. The company also expands into various sectors other than agriculture such as energy and functional materials, petrochemicals, pharmaceutical ingredients and prescription drugs. It is aimed at promoting sustainable and environmentally friendly options.

7. Tata Chemicals Ltd.

Tata Chemicals Ltd. is a part of the Tata Group, the company has a focus on businesses involved in basic and speciality chemical products, which involves solutions in the domains of material sciences, nutritional sciences and agri-sciences. The company has a product portfolio with a wide range of products that cover insecticides, fungicides and herbicides which are designed keeping in mind the Indian agricultural landscape.

8. Dhanuka Agritech Limited

A leader in India’s agricultural input industry, Dhanuka Agritech Limited has been a leading provider of crop protection solutions for the last 4 decades. The company boasts an impressive portfolio of products like herbicides, fungicides, insecticides, and plant growth regulators which cater to the needs of 10 million farmers across the nation. The company brings advanced technological production methodologies to the table which helps enhance crop production and health.

9. Meghmani Organics Limited

Meghmani Organics Limited is a partnership firm that specialises in the production of agrochemicals with a significant presence across the world, with their customer base extending to more than 75 countries. The company was incorporated as a joint stock company with limited liability in 1995 and has 9 ISO-certified production facilities in Gujrat which help form its portfolio of pesticides and other chemicals.

10. Coromandel International Limited

Coromandel International Limited is a part of the INR 243 billion Murugappa Group and manufactures, markets and sells over 3.2 million tons of fertilizers across various markets. The company offers crop protection and nutrition solutions including biopesticides, specialty nutrients and organic fertilisers in the states of Andhra Pradesh, Telangana, and Karnataka through its network of close to 750 rural retail outlets.