India Agrochemicals Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.50% (2024-2032)
Market Size in 2023: USD 7.9 Billion
Market Size in 2032: USD 11.9 Billion
The India agrochemicals market features robust growth, driven by increasing agricultural demand, technological advancements, and government support for farming practices. According to the latest report by IMARC Group, the market size reached USD 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 11.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.50% during 2024-2032.
India Agrochemicals Market Trends and Drivers:
The need to improve the productivity of agriculture and provide food security for India’s growing population is fueling the growth of the market for agrochemicals. The huge demand for maximising yields from crops and enhancing the quality of produce from agriculture is also fueling this expansion.
In addition, the government’s support via incentives and programs like such as the Pradhan Mantri Fasal Bima Yajana (PMFBY) along with the National Food Security Mission (NFSM) encourages farmers to switch to Agrochemicals. Additionally, the increasing importance of high-value crops like the fruits and vegetable, that require intensive attention, is boosting the use of specific Agrochemicals.
The technological advancements and the development of agrochemicals that are sustainable are major drivers for the India Agrochemicals market. Additionally growing consciousness of environmental sustainability as well as the negative effects of traditional chemical pesticides is also driving the demand for organic and bio-based agricultural chemicals, which act as an additional growth-inducing factor.
In addition, businesses are making investments in R&D to create green products that have a minimal environmental impacts and meet regulations, which is boosting the market. As a result, the rising use of precision farming techniques which rely on data analytics, satellite imagery and GPS technology has improved the use of agrochemicals by decreasing waste and increasing productivity. This is expected to propel the India agricultural chemicals market during the next few years.
Request for a sample copy of this report: https://www.imarcgroup.com/india-agrochemicals-market/requestsample
India Agrochemicals Market Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Fertilizers
- Pesticides
- Adjuvants
- Plant Growth Regulators
Breakup by Application:
- Cereals
- Oilseeds
- Fruits and Vegetables
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=21394&flag=C
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
Market Outlook 