PUBLISHER: IMARC | PRODUCT CODE: 1468283
PUBLISHER: IMARC | PRODUCT CODE: 1468283
The Indian pesticides market size reached INR 245.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 421.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6% during 2024-2032.
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 Pesticides 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the Indian pesticides market report, along with forecasts at the country and state level from 2024-2032. Our report has categorized the market based on product type, segment, formulation and crop type.
Synthetic Pesticides
Biopesticides
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.
Insecticides
Fungicides
Herbicides
Others
Based on the segment, the market has been segmented as insecticides, fungicides, herbicides and others.
Liquid
Dry
Based on the formulation, the market has been segmented as liquid pesticides and dry pesticides.
Cereals
Fruits
Vegetables
Plantation Crops
Others
Based on the crop type, the market has been segmented as cereals, vegetables, fruits, plantation crops and others.
Uttar Pradesh
Punjab
Maharashtra
Rajasthan
Haryana
Others
The market has also been segmented on the basis of states, including Uttar Pradesh, Punjab, Maharashtra, Rajasthan, Haryana and others.
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.