The Indian pesticides market was worth INR 197 Billion in 2018. The market is further projected to reach a value of INR 316 Billion by 2024, growing at a CAGR of 8.1% during 2019-2024. Pesticides are substances or a mixture of substances intended for preventing, destroying, repelling or mitigating any pest. Pesticides represent the last input in an agricultural operation and are applied for preventing the spoilage of crops from pests such as insects, fungi, weeds, etc., thereby increasing the agricultural productivity. The significance of pesticides has been rising over the last few decades catalyzed by the requirement to enhance the overall agricultural production and the need to safeguard adequate food availability for the continuously growing population in the country. In India, pests and diseases, on an average eat away around 20-25% of the total food produced.
Indian Pesticide Market: Drivers
- The total available arable land per capita has been reducing in recent years as a result of increasing urbanization levels and is expected to reduce further in the coming years. Driven by rising population levels, food demand is expected to continue increasing in the coming years. We expect pesticides to play a key role in increasing the average crop yields per hectare.
- Government initiatives to provide credit facilities to farmers in the rural areas is expected to provide a strong boost to the pesticides industry. Increasing availability and low interest rates of farm loans are expected to encourage farmers to use more pesticides in order to improve crop yields.
- Both government and private initiatives are increasing the awareness of pesticides among farmers. Initiatives to educate farmers on the right usage of pesticides in terms of quantity, the right application methodology and appropriate chemicals to be used for identified pest problems, etc. are currently being conducted in various parts of the country.
- The penetration levels of pesticides in India are significantly lower than other major countries such as the US and China. This suggests that the market for pesticides is still largely unpenetrated with a huge room for future growth.
- Based on the product type the market has been segmented as synthetic pesticides and biopesticides. Synthetic pesticides currently dominate the market, holding the largest share.
- Based on the segment, the market has been segmented as insecticides, fungicides, herbicides and others.
- Based on the formulation, the market has been segmented as liquid pesticides and dry pesticides.
- Based on the crop type, the market has been segmented as cereals, vegetables, fruits, plantation crops and others.
- The market has also been segmented on the basis of various states.
- The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
This report provides a deep insight into the Indian pesticides market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian pesticides market in any manner.
Key Questions Answered in This Report:
- How has the Indian pesticides market performed so far and how will it perform in the coming years?
- What are the major segments in the Indian pesticides market?
- What is the breakup of the Indian pesticides market on the basis of product type?
- What is the breakup of the Indian pesticides market on the basis of formulation?
- What is the breakup of the Indian pesticides market on the basis of crop type?
- What is the breakup of the Indian pesticides market on the basis of various states?
- What are the various stages in the value chain of the Indian pesticides industry?
- What are the key driving factors and challenges in the Indian pesticides industry?
- What is the structure of the Indian pesticides industry and who are the key players?
- What is the degree of competition in the Indian pesticides industry?