Launch apps instantly. Claim $200 credits on DigitalOcean for free!
Written by Emily537 » Updated on: January 09th, 2025
In 2024, the India agrochemicals market is valued at approximately USD 3.23 billion and is projected to grow at a compound annual growth rate (CAGR) of 4.10% from 2025 to 2034, reaching a market size of USD 4.83 billion by 2034. This growth is propelled by a combination of factors, including government support, technological advancements, and the rising global demand for agrochemical products.
In this blog post, we will dive into the current state of the Indian agrochemicals market, the trends influencing its growth, market analysis, and forecasts, as well as a detailed competitor analysis.
The agrochemicals market in India encompasses a wide range of products, including pesticides, herbicides, fungicides, and fertilizers, all of which play an essential role in crop protection and growth. The market is significantly impacted by the country’s agricultural productivity, as India is one of the largest producers of staple crops like rice, wheat, and cotton. The agriculture sector contributes about 17-18% of India's GDP, and the agrochemicals industry supports the sustainability and growth of this sector.
As of 2024, the agrochemicals market in India is valued at approximately USD 3.23 billion. The market size is expected to grow at a healthy CAGR of 4.10% from 2025 to 2034, reaching a value of USD 4.83 billion by the end of the forecast period. This growth is largely driven by factors such as population growth, changing dietary patterns, urbanization, and government initiatives to boost agricultural output.
The increasing need for improved agricultural productivity to meet the demands of a population projected to reach 1.5 billion by 2030 necessitates the adoption of advanced agrochemical products. Moreover, the growing awareness of sustainable farming practices and the use of precision agriculture tools are further contributing to the expansion of the agrochemicals market.
Technological Advancements in Agrochemical Formulations: Technological advancements in agrochemical formulations are enhancing their effectiveness and reducing environmental impact. The development of slow-release fertilizers, eco-friendly herbicides, and bio-pesticides is expected to revolutionize the market.
Rise of Precision Farming: Precision farming, which involves the use of technology like sensors, drones, and GPS to optimize agricultural practices, is gaining traction in India. Precision farming techniques help in the efficient use of agrochemicals, reducing wastage and improving overall crop yields. This trend is expected to drive the demand for agrochemicals in the country.
Increasing Demand for Herbicides and Fungicides: With the growing global demand for herbicides and fungicides, India’s role as a key exporter of these agrochemicals has increased. The need for effective crop protection solutions is rising globally, and India is well-positioned to meet this demand.
Shift towards Organic Farming and Bio-Pesticides: The increasing interest in organic farming practices is leading to higher demand for bio-based agrochemicals. Bio-pesticides and organic fertilizers are gaining popularity due to their perceived safety for both humans and the environment.
Get a Free Sample Report with Table of Contents
Type
Pesticide
Fertiliser
Nature
Synthetic
Bio-based
Application
Cereal and Grains
Oilseeds and Pulses
Fruits and Vegetables
Turf and Ornamentals
India Agrochemicals Market Growth
Population Growth and Food Demand: India’s population is projected to reach 1.5 billion by 2030, significantly increasing the demand for food. To meet this demand, agricultural productivity must rise, and agrochemicals will continue to play a pivotal role in improving crop yields and quality.
Rising Agricultural Exports: India is one of the world's largest exporters of agricultural products, particularly to countries in Asia, Africa, and the Middle East. The increasing global demand for crops like rice, wheat, and cotton further boosts the demand for agrochemicals to ensure high-quality and high-yield production.
Adoption of Advanced Agricultural Technologies: The adoption of advanced farming techniques, such as controlled-environment agriculture, vertical farming, and automated irrigation systems, is driving the demand for more efficient and effective agrochemicals. These technologies require precise and targeted applications, leading to increased use of specialized chemicals.
Government Support and Policies: The Indian government has launched various schemes to support the agriculture sector, including subsidies on fertilizers and pesticides. Policies that promote sustainable and organic farming are also driving the demand for bio-based agrochemicals.
The India agrochemicals market is projected to grow at a CAGR of 4.10% from 2025 to 2034, reaching USD 4.83 billion by 2034. The growth will be primarily driven by the increasing demand for food due to the country’s growing population, the expansion of agricultural exports, and government initiatives supporting sustainable agricultural practices.
Competitor Analysis
Corteva Agriscience AG: A global leader in crop protection, Corteva offers a wide range of agrochemical products including herbicides, fungicides, and insecticides, catering to the needs of Indian farmers.
Tata Chemicals Ltd.: Tata Chemicals is a major player in the Indian agrochemicals market, providing fertilizers and crop protection products. The company focuses on sustainable farming solutions.
Dhanuka Agritech Limited: Dhanuka Agritech is one of India’s leading agrochemical companies, known for its innovative solutions in crop protection.
Coromandel International Limited: A subsidiary of the Chennai-based Murugappa Group, Coromandel International offers a broad portfolio of fertilizers and agrochemicals.
Others: Other players in the market include FMC Corporation, Rallis India Limited, and Adama India, all of which are contributing to the development of the Indian agrochemicals market through innovative product offerings and strong market presence.
Media Contact:
Company Name: Claight Corporation
Contact Person: Emily Jacks, Business Consultant
Email: [email protected]
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
We do not claim ownership of any content, links or images featured on this post unless explicitly stated. If you believe any content or images infringes on your copyright, please contact us immediately for removal ([email protected]). Please note that content published under our account may be sponsored or contributed by guest authors. We assume no responsibility for the accuracy or originality of such content. We hold no responsibilty of content and images published as ours is a publishers platform. Mail us for any query and we will remove that content/image immediately.
Copyright © 2024 IndiBlogHub.com. Hosted on Digital Ocean
