According to the latest report by IMARC Group, titled “Indian Pesticides Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the pesticides industry in India reached a value of around INR 212 Billion in 2021. Pesticides are toxic substances designed to eliminate, reduce or control the infestation of insects, weeds, rodents, fungi and other organisms in crops or plants. These insects and pests cause severe damage to the crops and impact the overall agricultural production. Depending upon their application, different types of pesticides include avicide, herbicide, insecticide, fungicide, piscicide and rodenticide. In India, crop protection chemicals have gained immense popularity over the past few years due to increasing awareness among farmers regarding the impact of pest infestation on crop yields.
With the rising population in India, the focus has shifted towards enhancing farm productivity and efficiently using the available arable land. Apart from this, the increasing adoption of modern agricultural approaches, such as Integrated Pest Management and contract farming, are positively influencing the India pesticides market. Moreover, there has been an increase in the number of investments made in the industry owing to a major shift towards the development of eco-friendly pesticides. However, the overall consumption of pesticides in the countries is still lower than their production, owing to which India has emerged as one of the largest pesticide exporters in the world. Looking forward, the pesticide market size in India is projected to reach INR 320 Billion by 2027, expanding at a CAGR of 7.07% during 2022-2027.
- The report has segmented the market on the basis of product types which mainly include synthetic pesticides and bio-pesticides. Currently, synthetic pesticides represent the most popular product used across India.
- On the basis of segments, the market has been categorized into insecticides, fungicides and herbicides. Amongst these, insecticides exhibit a clear dominance, accounting for the largest market share.
- Based on formulations, the market has been segregated into liquid and dry pesticides.
- On the basis of crop types, the market has been segmented into plantation crops, cereals, fruits and vegetables. Amongst these, cereals account for the majority of the market share.
- The report has analyzed the Indian pesticides market across six states which include Uttar Pradesh, Punjab, Maharashtra, Rajasthan and Haryana. Currently, Maharashtra is the largest market for pesticides in India, holding the majority of the total share.
- The competitive landscape of the market has also been examined in the report with the profiles of the major players. The leading companies are currently engaged in research and development activities to expand their product portfolios.
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