Agriculture In India Market Size (2024 - 2029)

The market size of the agriculture industry in India is projected to experience significant growth over the forecast period, driven by various factors. Despite a decrease in its contribution to the GDP, the sector remains a crucial livelihood source for a substantial portion of the population, with agricultural production ensuring food security and enabling exports. India's position as a leading producer of key crops and vegetables, coupled with government initiatives aimed at enhancing crop productivity and sustainable farming, is expected to further propel the market. Investments in technology and infrastructure, along with schemes promoting organic farming, are also anticipated to contribute to the expansion of the market size during the forecast period.

Market Size of Agriculture In India

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India Agriculture Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 372.94 Billion
Market Size (2029) USD 473.72 Billion
CAGR (2024 - 2029) 4.90 %

Major Players

Agriculture In India Major Players

*Disclaimer: Major Players sorted in no particular order

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India Agriculture Market Analysis

The Agriculture In India Market size is estimated at USD 372.94 billion in 2024, and is expected to reach USD 473.72 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2024-2029).

  • The agriculture market in India is a critical industry, contributing significantly to the nation’s GDP and employment. As of 2024, agriculture continues to be a cornerstone of the Indian economy, engaging around 45% of the workforce and contributing approximately 18% to the country's GDP. The industry encompasses a diverse range of activities, including crop cultivation and horticulture. India is one of the largest producers of various crops, including rice, wheat, sugarcane, and pulses, and holds a significant position in global agricultural markets.
  • In recent years, the Indian agriculture sector has undergone substantial transformations driven by technological advancements, government policies, and market dynamics. The introduction of new agricultural practices and modern technologies, such as precision farming, has enhanced productivity and sustainability. Additionally, government initiatives such as the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and the Digital India Land Records Modernization Programme (DILRMP) have played a pivotal role in improving irrigation facilities and land record management.
  • The Union Budget for 2023-2024 strongly emphasizes regenerative agriculture, inclusive growth, enhanced access to agricultural credit, high-quality agricultural inputs, digitization, and technological advancement. Consequently, the increase in sustainable farming practices, government initiatives, and the drive to improve crop productivity through extension services are anticipated to propel the market's growth during the forecast period.

India Agriculture Industry Segmentation

Agriculture is the practice of cultivating the soil, producing crops, and, in varying degrees, preparing and marketing the resulting crop products, such as fruits, vegetables, and cereal crops, in the country.

Agriculture in India is segmented into food crops/cereals (rice, wheat, sorghum, millet, and barley), oilseeds (soybean, rapeseed, groundnut, and castor), fruits (banana, mango, orange, papaya, and grapes), and vegetables (potato, onion and shallot, tomato, eggplant, cabbage, and cauliflower). The report includes the production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis for the market. The report offers market sizes and forecasts in terms of value (USD) and volume (metric tons).

Food Crops/Cereals
Rice
Wheat
Sorghum
Millet
Barley
Fruits
Banana
Mango
Orange
Papaya
Grapes
Oilseeds
Soybeans
Rapeseed
Groundnut
Castor
Vegetables
Potato
Onion and Shallot
Tomato
Eggplant
Cabbage
Cauliflower
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Agriculture In India Size Summary

The agriculture industry in India plays a crucial role as the primary source of livelihood for a significant portion of the population, despite its diminishing share in the national GDP. The sector has shown resilience and growth, contributing to India's self-sufficiency in food security and its status as a net exporter of agricultural products. India stands as a leading producer of essential crops like rice, wheat, and various fruits and vegetables, with a robust demand for its cereal exports in the global market. Government initiatives and investments in sustainable farming practices, such as organic farming and crop diversification, are further propelling the sector's growth. These efforts are supported by schemes and projects aimed at enhancing crop productivity and improving farmers' livelihoods, ensuring the agriculture industry remains a vital component of India's economy.

The market size of the agriculture industry in India is projected to experience significant growth over the forecast period, driven by increased demand for both domestic consumption and exports. The adoption of advanced technologies and sustainable practices, facilitated by collaborations with international entities and tech companies, is expected to enhance productivity and efficiency in the sector. The growing popularity of exotic vegetables and the expansion of vegetable production areas reflect changing consumer preferences and dietary needs, contributing to the market's expansion. Additionally, strategic partnerships and initiatives aimed at boosting exports of agricultural products underscore the industry's potential for continued growth and development in the coming years.

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Agriculture In India Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain Analysis

  2. 2. MARKET SEGMENTATION (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)

    1. 2.1 Food Crops/Cereals

      1. 2.1.1 Rice

      2. 2.1.2 Wheat

      3. 2.1.3 Sorghum

      4. 2.1.4 Millet

      5. 2.1.5 Barley

    2. 2.2 Fruits

      1. 2.2.1 Banana

      2. 2.2.2 Mango

      3. 2.2.3 Orange

      4. 2.2.4 Papaya

      5. 2.2.5 Grapes

    3. 2.3 Oilseeds

      1. 2.3.1 Soybeans

      2. 2.3.2 Rapeseed

      3. 2.3.3 Groundnut

      4. 2.3.4 Castor

    4. 2.4 Vegetables

      1. 2.4.1 Potato

      2. 2.4.2 Onion and Shallot

      3. 2.4.3 Tomato

      4. 2.4.4 Eggplant

      5. 2.4.5 Cabbage

      6. 2.4.6 Cauliflower

Agriculture In India Market Size FAQs

The Agriculture In India Market size is expected to reach USD 372.94 billion in 2024 and grow at a CAGR of 4.90% to reach USD 473.72 billion by 2029.

In 2024, the Agriculture In India Market size is expected to reach USD 372.94 billion.

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