India Agrochemicals Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

India Agrochemicals Market Growth

Shift towards bio-based agrochemicals

As per the India agrochemicals market dynamics and trends, the increasing adoption of bio-based products, such as biopesticides made with neem is propelling the market growth. This shift is driven by a growing awareness of environmental sustainability and the need to reduce chemical residues in agricultural produce. The Indian government has been increasingly promoting organic farming and the use of bio-based agrochemicals. Farmers are encouraged to switch to organic and bio-based inputs by a number of programs, such as the Paramparagat Krishi Vikas Yojana (PKVY) and Mission Organic Value Chain Development for North Eastern Region (MOVCDNER). These initiatives try to inform farmers about the advantages of sustainable farming methods in addition to offering financial incentives. Since the pandemic, the organic food business in India has grown exponentially. India is the fifth-largest organic food producer in the world, with 2.6 million hectares under cultivation, according to a 2022 survey of 187 countries that practice organic agriculture by the International Federation of Organic Agriculture Movements (IFOAM) and Research Institute of Organic Agriculture (FiBL). The survey also showed that India has grown its cultivated organic agricultural land by 145.1% over the past ten years, with 1.5% of the country's total agricultural area being used for organic farming. India has the biggest number of organic farmers in the world, at 4.43 million, according to the Economic Survey 2022–2023.

Rise in agrochemical exports

The country's agrochemical exports have been steadily increasing, which not only boosts the Indian economy but also positions the country as a key supplier of agrochemical products worldwide. In particular, Latin America, Africa, and the Asia-Pacific region have seen an increase in the global footprint of Indian agrochemical enterprises. As per the India agrochemicals market analysis, one major Indian agrochemical company that is contributing to the increase of exports is UPL Limited, which has distribution networks spanning more than 130 countries. India is a global leader in the export of agricultural products. The total value of agricultural product exports from April to January of 2024 was USD 38.65 billion. India's agricultural exports were valued at USD 52.50 billion in 2022–2023. The nation's overall agricultural exports in 2021–2022 were USD 50.2 billion, a 20% increase from USD 41.3 billion in 2020–21. India's principal export markets for agrochemicals are Brazil, the United States, Japan, Vietnam, and Indonesia. Brazil, in particular, has emerged as a significant market, with India being one of the top suppliers of crop protection chemicals to support Brazil’s large-scale soybean and corn production.

Government support and policy reforms

The Indian government's support and policy reforms play a crucial role in shaping the India agrochemical market outlook. Initiatives like the Make in India Mission and Atmanirbhar Abhiyan aim to boost domestic manufacturing, reduce import dependency, and promote self-sufficiency in agrochemical production, which will likely the India agrochemicals demand forecast. The manufacturing of agrochemicals in India has increased significantly as a result of the Make in India initiative. To serve both local and international markets, businesses such as UPL Limited, PI Industries, and Rallis India, for instance, have increased the size of their production facilities. India started exporting agrochemicals to more than 100 nations in 2022 after its capacity for producing agrochemicals had grown dramatically. As local production of technical-grade chemicals and raw materials has expanded, India's imports of agrochemicals, particularly from China, have decreased. According to the Ministry of Chemicals and Fertilizers, the Atmanirbhar Bharat program was successful as seen by the 15% decrease in imports in 2022 when compared to 2020 levels.

India Agrochemicals Market Report Snapshots

India Agrochemicals Market Size

India Agrochemicals Market Growth

India Agrochemicals Market Trends

India Agrochemicals Market Share

India Agrochemicals Manufacturers

India Agrochemicals Market Regional Analysis