Agriculture Industry in India: Growth and Opportunities

Agriculture Industry in India: Growth and Opportunities

Report Format: PDF+Excel | Report ID: SR112023A658
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Market Overview:

The agriculture industry in India size reached INR 71,220 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 142,280 Billion by 2027, exhibiting a growth rate (CAGR) of 12.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The agriculture industry comprises enterprises or companies that are majorly involved in cleaning, processing, storing or packing various types of products that are mainly obtained from agricultural production. Some of the common agriculture products are categorized under fibers, foods and raw materials. It includes raising fish and animals, growing crops, encompasses farms, logging wood and dairies. Besides this, it also includes businesses that support agriculture practices by producing seeds, fertilizers and farm equipment. As a result, it represents an important part of the Indian economy and a source of employment for the majority of the country’s population, thereby driving the market growth.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Agriculture Industry in India Trends:

The market in India is primarily driven by rapid population growth. This is further supported by the inflating rural and urban income levels that have led to the growing demand for agricultural products across the country. In line with this, the increasing adoption of advanced methods, such as blockchain, artificial intelligence (AI), geographic information system (GIS), drones and remote sensing technologies, along with the launching of several e-farming applications, is providing a boost to the market. Moreover, the presence of favorable government policies across India in order to support and upgrade the overall agricultural infrastructure, including credit facilities for farmers and crop insurance schemes and various incentives for the movement of agriculture products by air transport worldwide, is impacting the market favorably. The market is further driven by the widespread preference for organic agricultural products among the masses. Other factors, including the rising development of allied services, such as cold storage and warehouses, diverse agro-climatic conditions, a high proportion of agricultural land, and rapid digitization, are also positively influencing the market across India.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the agriculture industry in India report, along with forecasts for the period 2022-2027. Our report has categorized the market based on various subsectors.

Breakup by Subsectors:

Presently, the farming sector accounts for the majority of the total market share due to the growing population level in the country.

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