India Crop Protection Chemicals Market Size

India Crop Protection Chemicals Market Analysis

The India Crop Protection Chemicals Market size is estimated at 2.48 billion USD in 2024, and is expected to reach 3.13 billion USD by 2029, growing at a CAGR of 4.72% during the forecast period (2024-2029).

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2.48 Billion

Market Size in 2024 (USD)

3.13 Billion

Market Size in 2029 (USD)

3.66 %

CAGR (2017-2023)

4.72 %

CAGR (2024-2029)

Largest Segment By Function

72.04 %

value share, Insecticide, 2023

Major growing crops are vulnerable to various insect pests such as stem borers, leaf folders, and weevils, causing severe economic loss and necessitating insecticide application.

Fastest-growing Segment by Function

9.06 %

Projected CAGR, Herbicide, 2024-2029

Increasing weed infestations have caused a yield loss of an overall 45% of the agricultural sector in the country, and other economic factors have enhanced the herbicide adoption rate.

Largest Segment by Crop Type

44.67 %

value share, Grains & Cereals, 2023

Frequent crop infestations by various pests and diseases, extending cultivation areas, and intensive agricultural practices are boosting the growth of the market for pesticide products in these crops.

Leading Market Player 1

22.48 %

market share, Bayer AG, 2022

Bayer AG has enhanced its product offering in the country through various partnerships, expansions in R&D facilities, and new and innovative product innovation, helping achieve the growth of the market.

Leading Market Player 2

16.57 %

market share, FMC Corporation, 2022

FMC strengthens its market growth with its expanding product portfolio by adding new products like Talstar Plus, Austral, and Corprima to provide effective solutions.

The market for pesticides is driven by increasing pest and disease incidence

India Crop Protection Chemicals Industry Segmentation

Fungicide, Herbicide, Insecticide, Molluscicide, Nematicide are covered as segments by Function. Chemigation, Foliar, Fumigation, Seed Treatment, Soil Treatment are covered as segments by Application Mode. Commercial Crops, Fruits & Vegetables, Grains & Cereals, Pulses & Oilseeds, Turf & Ornamental are covered as segments by Crop Type.

• The Indian crop protection chemicals market experienced consistent growth over the years, with a market value of USD 2.3 billion in 2022, driven by factors such as increasing population, rising food demand, and the need to protect crops from pests, diseases, and weeds.
• Insecticides are the most used crop protection chemicals, with a market share of 72.5% in 2022, followed by herbicides and fungicides, with a market share of 13.4% and 8.9%, respectively. This is attributed to the economic damage that insect pests can cause in a variety of crop types. Aphids, leafhoppers, stem borers, and armyworms are the dominant insect pests that affect the production of major crops in India.
• Nematicides accounted for a share of 2.6% in 2022. Although the current market share is relatively less, these pesticides have higher scope for market growth as plant parasitic nematodes are known to cause an annual yield loss of 21.3% in India, which amounts to USD 1.58 billion annually, affecting various economically important crops grown in the country. For instance, rice (the most grown crop in India) is susceptible to root-knot nematode, Meloidogyne graminicola, leading to annual economic losses of 296.1 million.
• Similarly, around 40-45 plantations spanning 300 acres of land in the northern parts of Kodagu, India, have suffered significant losses due to mollusk infestations. However, the farmers in Kodagu have achieved a 90% reduction in the infestation by primarily utilizing molluscicides, which may result in market growth.
• Due to factors like increasing pest and disease incidence in the country and the need for higher crop productivity, the market is estimated to register a CAGR of 4.6% during the forecast period.