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Written by Deepakmishra » Updated on: September 06th, 2024
Agriculture Industry in India Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 10.5% (2024-2032)
The agriculture industry in India is vital, contributing significantly to GDP, employment, and rural development. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 10.5% from 2024 to 2032.
Agriculture Industry in India Trends and Drivers:
The widespread integration of advanced technology with environmentally sustainable farming practices are two of the major factors driving the rapid growth of the agriculture sector in India. Additionally, the market is growing due to the increasing use of precision farming techniques that incorporate GPS technologies, remote sensing, data analytics, among others. These methods help farmers increase their yields from their crops and also the utilization of their resources.
Initiatives launched by the government, such as that of Pradhan Mantri Krishi Sanchai Yajana (PMKSY) as well as the Pradhan Mantri Fasal Bima Yojana are intended to improve irrigation infrastructure as well as provide assurance for crops, thus decreasing the risk associated with farming, and ensuring a higher production. Furthermore, the trend towards organic farming and using biofertilizers and biopesticides are growing in popularity because people are becoming more aware of their health, and the increasing demand for organic foods.
Another important element of the Indian agriculture industry is its rapid expansion of startups in agritech that are revolutionizing the landscape of agriculture with new solutions. They provide solutions like mobile-based platforms that provide the access of market information, digital marketplaces for trading agricultural products, and AI-driven advisory services for managing crop yields. Furthermore, that the Digital India ambition by government authorities that is assisting these initiatives through enhancing the connectivity of rural communities and increasing digital literacy.
Furthermore, developments in cold storage and improved logistical processes for supply chains can aid in reducing losses after harvest, and ensure that farmers are paid more for their crops. It is a third reason driving the expansion. Blockchain technology's use to provide transparency and traceability in the supply chain is being studied to improve confidence and improve efficiency. This could increase the agricultural industry in India in the near future.
Agriculture Industry in India Segmentation:
The report has segmented the market into the following categories:
Breakup by Subsectors:
Farming
Agriculture Equipment
Fertilizers
Pesticides
Warehousing
Cold Chains
Food Processing
Dairy Market
Floriculture
Apiculture
Sericulture
Seeds
Fisheries
Poultry
Animal Husbandry
Animal Feed
Bio-Agriculture Market
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.
Key highlights of the Report:
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: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
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