Agrochemical Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024–2029)

 India Agrochemical Market Analysis

The India Agrochemicals Market is approximated to be worth USD 8.22 billion in 2024, expected to surge to USD 13.08 billion by 2029, with a projected Compound Annual Growth Rate (CAGR) of 4% during the forecast period (2024–2029).

India’s burgeoning population and increasing affluence are reshaping consumption habits, necessitating not only heightened production but also meeting the nutritional requirements of a wealthier populace. Shrinking arable land and crop loss due to pest attacks pose challenges to food and nutritional security, highlighting the critical role of the agrochemical market in boosting agricultural output.

Pest attacks, diseases, and weeds contribute to 15–25% loss in potential crop production in India, emphasizing the imperative of adopting effective pest control and weed management practices to elevate agricultural yield. As a result, agrochemical usage has gained traction in augmenting agricultural productivity.

The agrochemical market in India leans heavily on pesticide usage but is witnessing a gradual rise in price premiums and eco-friendly production methods. Striking a balance between judicious chemical usage and minimizing its environmental impact is becoming increasingly vital. The government’s focus on promoting sustainable agricultural practices has fueled a 15% market share for biopesticides, aligning with the aim of sustainable agriculture.

The Federation of Indian Chambers of Commerce and Industry recognizes the agrochemical industry as pivotal for achieving global leadership, forecasting growth between 8–10% by 2025, reinforcing the sector’s potential for substantial growth.

India Agrochemical Market Trends

This segment encompasses key trends shaping the India Agrochemicals Market:

Population Surge Driving Food Demand

India’s population is on a steep ascent, projected to reach 1.66 billion by 2050 from 1.39 billion in 2021. Approximately 50% of the populace relies on agriculture for livelihood, demanding increased food production.

Climate shifts, with higher temperatures and moisture, heighten pest infestation risks, impacting productivity. Reports from the India Council of Agriculture Research (ICAR) suggest that pests account for 30–35% of annual crop yield loss in India. Coping with these challenges necessitates escalated use of crop protection chemicals to boost output.

Agrochemicals significantly aid crop growth and productivity, acting as a bulwark against pests and diseases. Ensuring adequate plant nutrients is pivotal for robust plant growth, crucial to augment food supply.

Market entities are investing in production and storage capacities to meet escalating demands. For instance, in 2022, Indian agrochemical companies bolstered facilities and international storage, exemplified by Meghmani Organics Limited’s USD 100 million investment in expansion and nine new molecule introductions.

In essence, the imperative to elevate productivity to satisfy a burgeoning population’s food demand underscores the pivotal role of agrochemicals in India.

Read Full Market Report

Comments

Post a Comment

Popular posts from this blog

Shipping Containers Market Projected to Reach USD 12.77 Billion by 2030, Driven by E-commerce Growth and Cold-Chain Expansion

  Introduction   The global shipping containers market is experiencing steady growth, with projections indicating an increase from USD 10.27 billion in 2025 to USD 12.77 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.46%. According to Mordor Intelligence Shipping Containers Market Report , this expansion is primarily fueled by the surge in e-commerce activities, the need for efficient cold-chain solutions, and advancements in intermodal transportation.   Key Trends   E-commerce Fulfillment   The rapid growth of e-commerce has significantly impacted on the shipping containers market. The demand for faster and more efficient delivery systems has led to increased use of standardized containers, particularly 40-foot units, which accounted for 52.64% of the market share in 2024.   Cold-Chain Expansion   The pharmaceutical and food industries' need for temperature-controlled transportation has driven the demand for refrigerated c...
Read more

DATA CENTER POWER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

  The IT industry requires on-premise private data storage and hyper-scale data centres for its operations, depending on the size of the organization. Additionally, the adoption of cloud storage has increased over the years due to growth among SaaS providers, enabling cloud storage providers to expand their capacities. Hence, the increasing data load requires more power. This creates a requirement for efficient power solutions in IT applications. According to the Data Center Survey recently published by Vertiv, 98% of the participants voted for IT utilization to be above 20% by 2025. This indicates that IT companies are focusing on deploying an efficient power source for their data centres and increasing their utilization rate. Cloud storage providers, like AWS, Microsoft, and Google, are expanding their storage capabilities to offer more efficient workflows in the cloud. These companies are making investments in hyperscale deals. For instance, in June last year, Amazon Web Service...
Read more

Second Hand Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 The Off-the-Shelf Second Hand Furniture Market is segmented into the distribution channel, which is further segmented into online and offline, out of which the offline segment, with a larger market share in 2021, is anticipated to have the largest share during the forecast period. However, with the rise of an increasing number of smartphone users and increasing penetration of internet users, the market share for the online segment is expected to grow at a higher rate over the forecast period. The Asia Pacific is expected to account for a larger share in terms of revenue during the forecast period. The increasing size of the online marketplace for second-hand goods is anticipated to drive the growth of the Asia Pacific regional market.  The Off-The-Shelf Second Hand Furniture Market size is estimated at USD 21.30 billion in 2023, and is expected to reach USD 29.28 billion by 2028, growing at a CAGR of 6.57% during the forecast period (2023-2028). The market is increasi...
Read more