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

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
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

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

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 sector is the primary livelihood source for about 58% of India's population. Although its contribution to the gross domestic product (GDP) has reduced to less than 20% and the contribution of other sectors increased at a faster rate, agricultural production has grown. This has made the country self-sufficient in meeting food security and a net exporter of agriculture and allied products.
  • India is the world's second-largest producer of rice, wheat, and other cereals. The massive demand for cereals in the global market is creating an excellent environment for the export of Indian cereal products. According to FAO (2020), India is the largest producer of ginger and okra among vegetables and ranks second in the production of potatoes, onions, cauliflowers, brinjal, and cabbages. Among fruits, the country ranks first in the production of bananas (26.29%), papayas (43.26%), and mangoes (including mangosteens and guavas) (45.14%).
  • In May 2022, the Union Ministry of Agriculture and Farmers' Welfare stated that the production of foodgrains in the country is estimated at a record 314.51 metric ton, which is higher by 3.77 metric ton than the production of food grain during 2020-21. The estimated production is also 23.80 metric ton more than the previous five years (2016-17 to 2020-21) average production.
  • Furthermore, the Indian government is showing interest in major investments and developments in agriculture by launching several schemes and projects that aid crop productivity, sustainable farming options, and the upliftment of farmers' livelihoods. Schemes such as Paramparagat Krishi Vikas Yojana (PKVY) are helping in developing organic farming by encouraging farmers to produce commodities free of pesticides and residue.
  • Also, in the Union Budget 2022-23, INR 1.24 lakh crore (USD 15.9 billion) has been allocated to the Department of Agriculture, Cooperation, and Farmers' Welfare. A network of 729 Krishi Vigyan Kendras has been established at the district level across the country to ensure that newer technologies such as improved variety seeds of crops, new breeds/ strains of livestock and fish, and improved production and protection technologies reach farmers. Therefore, the rise in sustainable farming practices, government initiatives, and concern to escalate crop productivity by extension services are further estimated to boost the growth of the market studied 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 produces, 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 in USD million and volume in metric ton.

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
Need A Different Region Or Segment?
Customize Now

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.

Explore More

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)