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Report Overview
The India agrochemicals market reached a value of almost USD 3.1 billion in the year 2023. The market is further expected to grow at a CAGR of 4.1% between 2024 and 2032 to reach a value of almost USD 4.4 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The Indian agrochemical industry had a total production capacity of over 1.4 million metric tons in fiscal year 2019 and reached almost 1.5 million metric tons in fiscal year 2022.
- India is recognised as the world's fourth-largest producer of agrochemicals and the 12th largest exporter of pesticides and disinfectants. Exports have increased due to India's capability in low-cost manufacturing and strong presence in generic pesticide production.
- As per industry reports, in 2022, India emerged as the second-largest exporter of agrochemicals globally.
India Agrochemicals Market Trends
The Indian government's support for the agrochemical industry is evident through initiatives like the Production Linked Incentive (PLI) scheme for the agrochemical sector. Companies like Rallis India and Insecticides India have benefited from such policies, which incentivise domestic manufacturing and promote self-reliance in agrochemical production.
Additionally, government initiatives focusing on agriculture, such as doubling farmer income by 2022, significant public spending on rural infrastructure, crop insurance coverage, and agricultural credit, are boosting domestic consumption. The rise in disposable income of farmers through schemes like PM-KISAN is increasing the demand of India agrochemicals market.
India Agrochemicals Market Report Snapshots
India Agrochemicals Market Size
India Agrochemicals Market Growth
India Agrochemicals Market Trends
India Agrochemicals Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 3.1 billion.
The market is expected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 4.4 billion by 2032.
The major drivers of the market include, growing population, regional economic growth, increased government initiatives to assist farmers, and create awareness among them regarding modern agricultural practices, and rapid technological advancements.
The key guiding the growth of the market in India include increasing investment in the protection of crops, and the development of integrated farming practices and their growing acceptance among the farmers in the region.
Regions considered in the market are north region, east and central region, west region, and south region.
Based on crop application, the market is divided into grains and cereals, pulses and oilseeds, fruits and vegetables, and turf and ornamentals, among others.
Key players in the market are Corteva Agriscience AG, UPL Limited, Bayer AG, Syngenta Crop Protection AG, BASF SE, PI Industries Limited, Sumitomo Chemical Co., Ltd, Dhanuka Agritech Limited, Meghmani Organics Ltd, Tata Chemicals Ltd, and Coromandel International Limited, among others.
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