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Indian Agriculture Market is Expected to Grow at a CAGR of 12% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Indian Agriculture Market Report and Forecast 2021-2026’, the Indian agriculture market attained a value of INR 55,994 billion in 2020. The industry is further expected to grow at a CAGR of 12% in the forecast period of 2021-2026 to reach a value of INR 111,916 billion by 2026.’

The India agriculture market is rapidly rising due to increased consumer demand. India, after the United States and China, is one of the world's leading agricultural producers in terms of value. India, with a major share of the world's population, is the second-largest populated country. The demand for different agricultural commodities has increased dramatically with an increasing population. This development has resulted in the adoption of improved technologies and methods to meet the diverse food needs of individuals in dairy, fishing, and livestock. In the last few decades, there have been a number of changes in the agricultural sector in India. These include increased participation of the organised sector, development of contract agriculture, mechanised agriculture, easy lending facilities, growing exports, rising adoption of agrochemicals and high return seeds, and the increasing role of the private sector in manufacturing, branding, and marketing.

In May 2020, Corteva Inc (NYSE: CTVA), the erstwhile agriculture division of DuPont, one of the key players in the industry, introduced a new seed brand, especially for corn farmers in India. The brand is known as Brevant™ seeds. This would help the farmers increase the output, while also driving the growth of the overall market in India.

Market Analysis by Sector and Region:

  • The sectors in the market can be divided into farming, agricultural equipment, fertilizers, pesticides, warehousing, cold chains, food processing, dairy market, floriculture, apiculture, sericulture, seeds, fisheries, poultry, animal husbandry, animal feed, and bio-agriculture.
  • Regionally, the market is segmented into West Bengal, Karnataka, Orissa, Uttar Pradesh, and Maharashtra, among others.

Key Findings of the Report:

  • India's sustained economic growth has contributed to a rise in per capita income, leading to an increase in the agricultural products' consumer base, thus, driving the Indian agriculture market.
  • The Indian agriculture market is majorly being driven by the increased food demand by the growing population of the country.
  • Various innovations and programmes, such as Kisan credit cards and microfinance, are driving the growth of the industry due to the easy accessibility of credit in rural areas for farmers.
  • The organised food retail sector has expanded in India, offering a varied range of products directly or indirectly linked to agriculture, which is further aiding the growth of the market. 

Key Offerings of the Report:

  • The EMR report gives an overview of the Indian agriculture market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the sectors and regions of agriculture in India.
  • It assesses the market dynamics by covering the key demand and price indicators, along with analysing the market based on SWOT and Porter's Five Forces models.  
  • The major key players in the Indian agriculture market include DuPont India Private Limited, Rallis India Limited, Nuziveedu Seeds Limited, Nestle India Limited, and others. The report by EMR covers the market shares, capacity, and latest development of these key players like mergers and acquisitions, plant turnarounds, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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