India Agrochemicals Market Size (2024 - 2029)

The agrochemical industry in India is poised for growth, driven by the need to enhance agricultural productivity amidst challenges such as shrinking arable land and pest-related crop losses. The market's expansion is supported by the increasing demand for effective pest control and weed management practices, which are crucial for meeting the nutritional needs of a growing and affluent population. The Indian government's emphasis on sustainable agriculture practices is further propelling the use of biopesticides, contributing to the market's development. Recognized as a key sector for achieving global leadership, the agrochemical industry is expected to experience significant growth in the coming years.

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Market Size of India Agrochemicals Industry

India Agrochemicals Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 8.22 Billion
Market Size (2029) USD 13.08 Billion
CAGR (2024 - 2029) 4.00 %
Market Concentration Low

Major Players

India Agrochemicals Market Major Players

*Disclaimer: Major Players sorted in no particular order

India Agrochemical Market Analysis

The India Agrochemicals Market size is estimated at USD 8.22 billion in 2024, and is expected to reach USD 13.08 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).

  • The rising population in India, accompanied by rising affluence, is creating a shift in consumption patterns. There is a need to not just increase production to meet demand but also to ensure that the nutritional needs of an increasingly affluent population are met. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. The agrochemical market is an important agriculture support industry, which boosts the agriculture output. These factors support the growth of the market.
  • In India, about 15-25% of potential crop production is lost due to pests, weeds, and diseases. The need for improving crop productivity with a focus on the effective use of pest control measures and the adoption of weed management practices has been recognized as an important factor in increasing agricultural output. These factors are aiding the use of agrochemicals in agriculture to increase output.
  • Pesticide usage is high among other chemicals. Price premiums and innovative eco-friendly production methods are emerging steadily in the agrochemical market. There is an increasing need to balance the judicious use of the best chemicals and minimize the impact of that use. As the Central Government focuses on promoting sustainable agriculture practices, there is an increase in the use of biopesticides which now accounts for 15% of the market.
  • According to the Federation of Indian Chambers of Commerce and Industry, the Indian government recognizes the agrochemical industry as one of its top 12 industries to achieve global leadership, growing at 8-10% through 2025. Thus, the agrochemical sector in India is projected to witness growth during the forecast period.

India Agrochemical Industry Segmentation

Agrochemicals are products used to prevent the deterioration of crops from insects and pest infestation and disease. The study on the Indian agrochemicals market offers the latest trends, growth factors, industry competitiveness, investment opportunities, and a detailed profile of the top players in the market.

The Indian agrochemicals market is segmented by product type (fertilizers, pesticides, adjuvants, and plant growth regulators) and application (crop-based and non-crop-based). The report offers market size and forecasts for the market in terms of value (USD million) for all the above segments.

Product Type
Fertilizers
Pesticides
Adjuvants
Plant Growth Regulators
Application
Crop-based
Grains and Cereals
Oil Seeds
Fruits and Vegetables
Non-crop-based
Turf and Ornamental Grass
Other Non-crop-based
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India Agrochemicals Market Size Summary

The agrochemical industry in India is poised for significant growth, driven by the increasing demand for food products due to the rising population and changing consumption patterns. As the population continues to grow, there is a pressing need to enhance agricultural productivity to meet the nutritional needs of an affluent society. The shrinking arable land and the substantial loss of crops due to pests, weeds, and diseases pose challenges to food security. Agrochemicals play a crucial role in boosting agricultural output by improving crop productivity through effective pest control and weed management practices. The Indian government's recognition of the agrochemical sector as a key industry for achieving global leadership further underscores its importance in the national economy. Initiatives to promote sustainable agriculture, such as the increased use of biopesticides, are also gaining traction, aligning with the government's focus on environmentally friendly practices.

The market landscape is characterized by a fragmented structure with major players like Bayer CropScience, Syngenta AG, UPL Limited, BASF SE, and others actively engaging in strategies such as new product launches, mergers, and partnerships to expand their market presence. The government's efforts to double farmers' incomes and enhance productivity through the use of agrochemicals are supported by initiatives like the establishment of Krishi Vigyan Kendras and production-linked incentive programs. These measures aim to ensure that farmers have access to advanced agricultural technologies and crop protection products. The increasing consumption of chemical pesticides, supported by government subsidies and investments, is expected to drive the growth of the agrochemical market in India over the forecast period.

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India Agrochemicals 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 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Fertilizers

      2. 2.1.2 Pesticides

      3. 2.1.3 Adjuvants

      4. 2.1.4 Plant Growth Regulators

    2. 2.2 Application

      1. 2.2.1 Crop-based

        1. 2.2.1.1 Grains and Cereals

        2. 2.2.1.2 Oil Seeds

        3. 2.2.1.3 Fruits and Vegetables

      2. 2.2.2 Non-crop-based

        1. 2.2.2.1 Turf and Ornamental Grass

        2. 2.2.2.2 Other Non-crop-based

India Agrochemicals Market Size FAQs

The India Agrochemicals Market size is expected to reach USD 8.22 billion in 2024 and grow at a CAGR of 4% to reach USD 13.08 billion by 2029.

In 2024, the India Agrochemicals Market size is expected to reach USD 8.22 billion.

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