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The India agrochemicals market size reached a value of almost USD 4.5 billion in the year 2020. The market is further expected to grow at a CAGR of 8.6% between 2021 and 2026 to reach a value of almost USD 7.4 billion by 2026.
The India agrochemicals market is a significant region, contributing to the growth of the Asia Pacific agrochemicals market. The Asia Pacific region is growing at the fastest rate on a global basis due to the enormous consumption of pesticides and fertilizers for farming activities. This is a result of adopting modern and advanced farming practices in the region.
The Asia Pacific region gives domestic as well as international companies a place to grow within the region. After the revival of the economy and the stabilization of regional currency rates, the farmers are now focusing on investing in these crop-protecting and growth-boosting chemicals. India, along with China and Japan, exhibits the largest agrochemical markets of the Asia Pacific region. At present, China is dominating the market with its developing agricultural sector, in confluence with the need for its growing population. Globally, the country is the largest producer as well as the largest consumer of fertilizers.
Agrochemicals or agrichemicals is a contraction of agricultural chemical. It is a chemical product that is used in agriculture to increase the output from the land. In various cases, agrichemical refers to pesticides, including fungicides, insecticides, herbicides, and nematicides.
The India agrochemicals market is driven by the rising population within the country, which has led to maintaining sufficiency in agricultural practices, further boosting the use of Indian agrochemical products for farming activities. The industry is positively influenced by the Indianization of the agrochemical industry, which has fuelled the sales of agrochemical products. Other factors affecting the growth of India agrochemical industry include an increase in the population growth, rising need for food production, and economic growth.
As the demand for food products is increasing, the landmass available for agriculture is gradually decreasing due to the heightened effect of urbanisation, which is providing an impetus for the farmers to use different agrochemicals to increase land productivity and maintain soil health. The positive trend and the integrating farming practices in the country are expected to propel the industry growth rate of agrochemicals in India within the forecast period. However, the market may find hindrance due to low awareness of the benefits of agrochemicals among the farming community, and their low acceptance of the modern-day farming practices.
The report gives a detailed analysis of the key players in the agrochemicals industry in India, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
*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.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Market Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 India Agrochemicals Market Snapshot
7 Industry Opportunities and Challenges
8 India Fertilizers Market Overview
8.1 Key Industry Highlights
8.2 India Fertilizers Historical Market (2016-2020)
8.3 India Fertilizers Market Forecast (2021-2026)
8.4 Indian Fertilizers Market by Segment
9 India Pesticides Market Overview
9.1 Key Industry Highlights
9.2 India Pesticides Historical Market (2016-2020)
9.3 India Pesticides Market Forecast (2021-2026)
9.4 Indian Fertilizers Market by Segment
10 India Agrochemicals Market Analysis
10.1 Key Industry Highlights
10.2 India Agrochemicals Historical Market (2016-2020)
10.3 India Agrochemicals Market Forecast (2021-2026)
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players’ Market Share
11.3 Company Profiles
11.3.1 Company Overview
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Financial Summary
12 Industry Events and Developments
List of Figures and Tables
1. India Agrochemicals Market: Key Industry Highlights, 2016 and 2026
2. India Fertilizers Market: Key Industry Highlights, 2016 and 2026
3. India Fertilizers Historical Market: Breakup by Segment (USD Billion), 2016-2020
4. India Fertilizers Market Forecast: Breakup by Segment (USD Billion), 2021-2026
5. India Pesticides Market: Key Industry Highlights, 2016 and 2026
6. India Pesticides Historical Market: Breakup by Segment (USD Billion), 2016-2020
7. India Pesticides Market Forecast: Breakup by Segment (USD Billion), 2021-2026
8. India Agrochemicals Market: Key Industry Highlights, 2016 and 2026
9. India Agrochemicals Market Structure
In 2020, the India agrochemicals market attained a value of nearly USD 4.5 billion.
The market is projected to grow at a CAGR of 8.6% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 7.4 billion by 2026.
The major drivers of the industry, such as growing population, regional economic growth, increased government initiatives to assist farmers, and create awareness among them regarding modern agricultural practices, and rapid technological advancements are expected to aid the industry growth.
The key guiding the growth of the industry in India include increasing investment in the protection of crops, and the development of integrated farming practices and their growing acceptance among the farmers in the region.
The India agrochemicals market attained a value of USD 4.5 billion in 2020, driven by technological advancements and growing awareness regarding modern farm practices. Aided by the utilisation of integrated farming practices, the industry is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 8.6%. The agrochemicals market is projected to reach USD 7.4 billion by 2026.
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