Increasing rural incomes, availability of farm credit, government & non-government awareness campaigns, contact farming, a large untapped market etc. are expected to be the catalysts in driving the Indian Fertilizer Industry in the coming years. Research firm IMARC Group expects the total market values to grow at a CAGR of around 12.3% during 2019-2024, according to its latest report titled “Indian Agriculture Market Report & Forecast: 2019-2024”. According to an analyst at IMARC Group, “Despite strong historical growth, fertilizer consumption in India remains highly skewed. There are currently a number of states in India which still have a very low penetration of fertilizers. This leaves a lot of room for future growth”. Apart from a large unpenetrated market, findings from the report also suggest that increasing rural incomes coupled by easy availability of credit are also likely to create a positive impact on fertilizer usage in the country. Contract farming, where inputs in terms of technology and training are expected to be provided to the farmer from the food processor (contractor) is also expected to act as a catalyst in increasing the fertilizer usage in the country.
IMARC’s new report entitled “Indian Agriculture Market Report & Forecast: 2019-2024” provides an analytical and statistical insight into the agriculture industry along with its various segments and sub-segments. The study that has been undertaken using both desk-based and qualitative primary research has analyzed various aspects and provides a comprehensive understanding of the Indian agriculture market. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are looking to foray into the Indian agriculture industry in some form or the other.
To buy the complete report or to get a free sample, please contact:
IMARC Group North America
IMARC Group Europe, Middle East & Africa
To know more please visit: https://www.imarcgroup.com/agriculture-industry-in-india/