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The India agrochemicals market reached a value of almost USD 3.1 billion in the year 2023. The market is further expected to grow at a CAGR of 4.1% between 2024 and 2032 to reach a value of almost USD 4.4 billion by 2032.
India Agrochemicals Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 3.1 |
Market Size 2032 | USD Billion | 4.4 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 4.1% |
CAGR 2024-2032 - Market by Fertilizer Type | Nitrogen Fertilizer | 4.9% |
CAGR 2024-2032 - Market by Pesticide Type | Herbicides | 4.7% |
Market Share by Country 2023 | Herbicides | 15.0% |
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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 agrochemicals market in India 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.
Moreover, 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 India agrochemicals market value is also positively influenced by the Indianisation of the agrochemical industry, which has fuelled the sales of agrochemical products.
Shift towards bio-based agrochemicals, rise in export levels, and favourable government initiatives are boosting the India agrochemicals market growth
May 2024
IFFCO, a leading fertiliser cooperative in India, has partnered with Drone Destination to provide drone spraying services across over 30 lakh acres of farmland in 12 states. This initiative aims to enhance crop productivity and reduce labour costs, while also promoting sustainable farming practices.
April 2024
Coromandel International has initiated the establishment of a Phosphoric Acid-Sulphuric Acid complex facility in Andhra Pradesh, with an investment of Rs 1,000 crore. This project, expected to be operational in two years, will significantly enhance the company's self-sufficiency in fertiliser manufacturing and increase the India agrochemicals industry revenue.
May 2022
UPL India and Koppert India partnered to promote sustainable agriculture in India by signing an agreement in Mumbai. UPL offers Koppert's biofertiliser, Copio, through its new business unit NPP to Indian growers, aiming to enhance soil health, plant growth, and overall output.
March 2022
UPL's new product ‘ProNutiva package’ helped farmers in Gujarat increase groundnut crop yields by 35%. The program, which started in 2021, covered over 12,000 acres and 4,000 farmers initially. It has since expanded to benefit over 75,000 farmers across 2.5 lakh acres over three years, potentially reducing India's dependence on edible oil imports.
Shift towards bio-based agrochemicals
As per the India agrochemicals market dynamics and trends, the increasing adoption of bio-based products, such as biopesticides made with neem is propelling the market growth. This shift is driven by a growing awareness of environmental sustainability and the need to reduce chemical residues in agricultural produce.
Rise in agrochemical exports
The country's agrochemical exports have been steadily increasing, which not only boosts the Indian economy but also positions the country as a key supplier of agrochemical products worldwide.
Government support and policy reforms
The Indian government's support and policy reforms play a crucial role in shaping the India agrochemical market outlook. Initiatives like the Make in India Mission and Atmanirbhar Abhiyan aim to boost domestic manufacturing, reduce import dependency, and promote self-sufficiency in agrochemical production, which will likely the India agrochemicals demand forecast.
Technological advancements and R&D investments
Companies like PI Industries and Dhanuka Agritech Limited are actively investing in research and development to develop innovative agrochemical solutions, precision agriculture technologies, smart formulations, and digital farming tools. This can improve product efficacy and operational efficiency.
Expanding Agricultural Productions Aids the Demand for Agrochemicals
According to data from the USDA Foreign Agricultural Service (FAS) U.S. Department of Agriculture, rice production in India is projected to increase from the five-year average (2019-2023) of 129,093 thousand tons to 138,000 thousand tons by 2024/25, marking a 7% increase, thus aiding the agrochemicals industry in India. This growth can be attributed to improvements in agricultural practices, government support, and favourable weather conditions. Wheat production is also expected to rise, reaching 114,000 thousand tons in 2024/25, a 6% increase from its five-year average of 107,120 thousand tons. Similarly, corn production is projected to see a significant boost, with an 11% increase, rising from 33,946 thousand tons to 37,500 thousand tons. Soybean production is set to grow by 9%, from an average of 11,186 thousand tons to 12,200 thousand tons in 2024/25.
Agrochemicals Industry Statistics in India
Fertilizer production, imports, and sales in India from April to May 2023 exhibit notable trends when compared to the same period in 2022. Urea production increased significantly from 43 lakh tons in 2022 to 50 lakh tons in 2023, representing a 16% growth. Imports of urea also rose by 37%, from 5 lakh tons in 2022 to 7 lakh tons in 2023. This surge in both production and imports contributed to a substantial rise in urea sales, which climbed from 32 lakh tons to 43 lakh tons, marking a 34% increase.
As per India agrochemicals industry analysis, the production of Di-Ammonium Phosphate (DAP) grew from 7 lakh tons in 2022 to 8 lakh tons in 2023, reflecting a 10% rise. DAP imports saw a remarkable increase of 73%, from 6 lakh tons to 10 lakh tons. Consequently, DAP sales surged by 47%, from 9 lakh tons in 2022 to 14 lakh tons in 2023. On the other hand, Muriate of Potash (MOP) showed a different trend. While imports grew significantly by 85%, from 3 lakh tons in 2022 to 6 lakh tons in 2023, sales declined by 43%. NPK Complex fertilizers also experienced a robust increase in production, import, and sales. Production increased by 31%, from 12 lakh tons to 16 lakh tons, imports rose by 56%, from 4 lakh tons to 6 lakh tons, and sales saw a significant increase of 55%, from 7 lakh tons to 10 lakh tons.
Overall, the total production of fertilizers in India increased by 18%, from 62 lakh tons in April to May 2022 to 73 lakh tons in the same period in 2023. Imports rose sharply by 61%, from 18 lakh tons to 29 lakh tons. The total sales of fertilizers saw a significant increase of 37%, from 50 lakh tons in 2022 to 68 lakh tons in 2023. These trends indicate a strong growth trajectory in the fertilizer sector in India, driven by increased domestic production.
The Indian government's support for the agrochemical industry is evident through initiatives like the Production Linked Incentive (PLI) scheme for the agrochemical sector. Companies like Rallis India and Insecticides India have benefited from such policies, which incentivise domestic manufacturing and promote self-reliance in agrochemical production.
Additionally, government initiatives focusing on agriculture, such as doubling farmer income by 2022, significant public spending on rural infrastructure, crop insurance coverage, and agricultural credit, are boosting domestic consumption. The rise in disposable income of farmers through schemes like PM-KISAN is increasing the demand of India agrochemicals market.
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The EMR’s report titled “India Agrochemicals Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
CAGR 2024-2032 - Market by | Fertilizer Type |
Nitrogen Fertilizer | 4.9% |
Phosphatic Fertilizer | 4.6% |
Potassic Fertilizer | 4.4% |
CAGR 2024-2032 - Market by | Pesticide Type |
Herbicides | 4.7% |
Fungicides | 4.2% |
Insecticides | XX% |
Others | XX% |
Market Breakup by Type
Market Breakup by Nature
Market Breakup by Application
Market Breakup by Region
Nitrogenous fertilisers are in high demand because it is required as a macronutrient for efficient crop yield
Fertilisers are used across a wide range of crops, including rice, cereals, grains, and tubers, to meet the growing demand for nutritious food in India. Nitrogenous fertilisers account for the largest share of the fertilisers segment, as nitrogen is a vital macronutrient required for crop growth and development.
2023 Market Share by | Pesticide Type |
Herbicides | 15.0% |
Fungicides | XX% |
Insecticides | XX% |
Others | XX% |
On the other hand, pesticides segment includes insecticides, herbicides, and fungicides. The increasing use of herbicides is a notable driver for the growth of this segment, as farmers seek to manage weeds more effectively. Additionally, there is a growing demand for insecticides, particularly for the cultivation of staple crops like cereals and grains.
Potassium-based fertilisers are also seeing increased demand, as they help increase protein content in plants. The low cost and better efficiency of potassium chloride compared to traditional fertilisers are major factors contributing to the growth of the fertilisers segment, thus contributing to the agrochemicals market share in India.
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Market players are focused on developing new molecules, manufacturing processes, and green chemistry products through increased R&D efforts
Sumitomo Chemical Co., Ltd. is a Japanese multinational chemical company founded in 1913. Its headquarters are in Tokyo, Japan. The company provides a diverse range of products including agrochemicals, petrochemicals, pharmaceuticals, and speciality chemicals.
Dhanuka Agritech Limited is an Indian agrochemicals company founded in 1985. Its headquarters are based in Gurgaon, India. The company manufactures a wide range of pesticides, insecticides, herbicides, and other crop protection products for crops such as rice, cotton, and vegetables to support the growth of the agrochemicals industry in India.
Meghmani Organics Ltd. was founded in 1989 and its headquarters are in Ahmedabad, India. It is a leading manufacturer of pesticides, insecticides, and other crop protection chemicals in India. The company's products are designed for use on crops such as sugarcane and cotton.
Other key players in the India agrochemicals market include Corteva Agriscience AG, Tata Chemicals Ltd., UPL Limited, Bayer AG, Syngenta Crop Protection AG, BASF SE, and PI Industries Limited, among others.
North India leads the India agrochemicals market due to its large crop cultivation capacity
The North India region, including states like Uttar Pradesh, Punjab, and Haryana, is a major agricultural hub with a high concentration of crop cultivation, which fuels the demand for pesticides, fertilisers, and other agrochemicals. The government's focus on improving agricultural productivity and infrastructure in this region is expected to further boost the growth of the agrochemicals market in India.
The South India region, including states like Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka has a strong presence of major agrochemical companies, such as Coromandel International Limited. The growing horticulture and floriculture industries in the South India region are driving the India agrochemicals market expansion.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Nature |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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India Agrochemicals Market Size
India Agrochemicals Market Growth
India Agrochemicals Market Trends
India Agrochemicals Market Share
India Agrochemicals Manufacturers
India Agrochemicals Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
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 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Agrochemicals Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Agrochemicals Historical Market (2018-2023)
8.3 Asia Pacific Agrochemicals Market Forecast (2024-2032)
9 India Agrochemicals Market Overview
9.1 Key Industry Highlights
9.2 India Agrochemicals Historical Market (2018-2023)
9.3 India Agrochemicals Market Forecast (2024-2032)
10 India Agrochemicals Market by Type
10.1 Pesticide
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Herbicides
10.1.3.2 Insecticides
10.1.3.3 Fungicides
10.1.3.4 Others
10.2 Fertiliser
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Breakup by Type
10.2.3.1 Nitrogenous
10.2.3.2 Phosphatic
10.2.3.3 Potassic
10.2.3.4 Others
11 India Agrochemicals Market by Nature
11.1 Synthetic
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Bio-based
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 India Agrochemicals Market by Application
12.1 Cereal and Grains
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.1.3 Breakup by Type
12.1.3.1 Corn
12.1.3.2 Wheat
12.1.3.3 Rice
12.1.3.4 Others
12.2 Oilseeds and Pulses
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.2.3 Breakup by Type
12.2.3.1 Soybean
12.2.3.2 Sunflower
12.2.3.3 Others
12.3 Fruits and Vegetables
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.3.3 Breakup by Type
12.3.3.1 Apple
12.3.3.2 Cucumber
12.3.3.3 Grapes
12.3.3.4 Tomato
12.3.3.5 Others
12.4 Turf and Ornamentals
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
13 India Agrochemicals Market by Region
13.1 North India
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.1.3 Breakup by Type
13.1.4 Breakup by Nature
13.1.5 Breakup by Application
13.2 East and Central India
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.2.3 Breakup by Type
13.2.4 Breakup by Nature
13.2.5 Breakup by Application
13.3 West India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.3.3 Breakup by Type
13.3.4 Breakup by Nature
13.3.5 Breakup by Application
13.4 South India
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.4.3 Breakup by Type
13.4.4 Breakup by Nature
13.4.5 Breakup by Application
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 UPL Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Bayer AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Syngenta Crop Protection AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 BASF SE
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 PI Industries Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Sumitomo Chemical Co., Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Corteva Agriscience AG
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Tata Chemicals Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Dhanuka Agritech Limited
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Meghmani Organics Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Coromandel International Limited
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Agrochemicals Market: Key Industry Highlights, 2018 and 2032
2. India Agrochemicals Market: Key Industry Highlights, 2018 and 2032
3. India Agrochemicals Historical Market: Breakup by Type (USD Billion), 2018-2023
4. India Agrochemicals Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. India Agrochemicals Historical Market: Breakup by Nature (USD Billion), 2018-2023
6. India Agrochemicals Market Forecast: Breakup by Nature (USD Billion), 2024-2032
7. India Agrochemicals Historical Market: Breakup by Application (USD Billion), 2018-2023
8. India Agrochemicals Market Forecast: Breakup by Application (USD Billion), 2024-2032
9. India Agrochemicals Historical Market: Breakup by Region (USD Billion), 2018-2023
10. India Agrochemicals Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. India Agrochemicals Market Structure
In 2023, the market attained a value of nearly USD 3.1 billion.
The market is expected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 4.4 billion by 2032.
The major drivers of the market include, growing population, regional economic growth, increased government initiatives to assist farmers, and create awareness among them regarding modern agricultural practices, and rapid technological advancements.
The key guiding the growth of the market 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.
Regions considered in the market are north region, east and central region, west region, and south region.
Based on crop application, the market is divided into grains and cereals, pulses and oilseeds, fruits and vegetables, and turf and ornamentals, among others.
Key players in the market are Corteva Agriscience AG, UPL Limited, Bayer AG, Syngenta Crop Protection AG, BASF SE, PI Industries Limited, Sumitomo Chemical Co., Ltd, Dhanuka Agritech Limited, Meghmani Organics Ltd, Tata Chemicals Ltd, and Coromandel International Limited, among others.
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