India Agrochemicals Market to Grow at a CAGR of 8.5% During 2024-2032, Aided by the Adoption of Modern Farming Practices

The growth of the India agrochemicals market is driven by the adoption of modern and advanced farming practices in India and the Asia Pacific region. India's rising population and affluence are driving shifts in consumption patterns, necessitating increased agricultural production to meet nutritional demands. However, challenges like shrinking arable land and crop losses from pest attacks hinder food security. The agrochemical market plays a vital role in boosting agricultural output by addressing pest and weed control. India loses 15-25% of potential crop production to pests and diseases, underscoring the need for effective agrochemical use to enhance productivity. 

Fig: Area, and Production of Major Crops in India, 2019-2022

With around 50% of India's population reliant on agriculture, there's a pressing need to boost food production to meet growing demand. Pests, thriving in higher temperatures and moisture, cause significant yield losses. To address this, the use of crop protection chemicals is expected to rise, aiding in yield improvement and disease prevention. Additionally, ensuring adequate plant nutrients is crucial for enhancing crop productivity and meeting food supply demands.

The market is seeing a rise in eco-friendly production methods and biopesticide usage, reflecting a shift towards sustainable agriculture promoted by the Central Government.

The Indian agrochemicals market is a key contributor to the growth of the Asia Pacific agrochemicals market, which is expanding rapidly due to increased adoption of modern farming practices. The region offers opportunities for domestic and international companies alike. India, along with China and Japan, represents the largest agrochemical markets in Asia Pacific. China leads globally in fertilizer production and consumption, driven by its growing agricultural sector and population needs.

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Market Breakup by Type, Nature, Crop Application, and Region:

• The market is segmented based on type into pesticide and fertiliser.

• Based on nature, the market is divided into synthetic and bio-based.

• On the basis of crop application, the market is categorised into grains and cereals, pulses and oilseeds, fruits and vegetables, and turf and ornaments, among others.

• By region, the market is segmented into North region, East and Central region, West region, and South region.

Key Findings of the Report:

• The increasing reliance on agricultural practices with the rising population is leading to an increase in demand for agrochemicals globally.

• The increasing adoption of eco-friendly production methods and biopesticide usage to tackle pests and insects is driving the market growth.

• The India agrochemicals market is driven by the increased adoption of modern farming practices in the country as well as the Asia Pacific region leading to an increased demand for agrochemicals in the market.

• In India, 15-25% of potential crop production is lost to pests, weeds, and diseases, highlighting the need for effective pest control and weed management practices to boost agricultural output. Agrochemicals, including pesticides, play a significant role in addressing these challenges.

Key Offerings of the Report:

• The EMR report gives an overview of the agrochemicals market in India for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, nature, crop application, and region of the India agrochemicals market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India agrochemicals market are UPL Ltd, Bayer AG, Syngenta, BASF SE, PI Industries Limited, Sumitomo Chemical Co., Ltd, Dhanuka Agritech Limited, Meghmani Organics Ltd, Tata Chemicals Ltd, and Coromandel International Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.