India Agrochemicals Market - Growth, Trends, COVID- 19 Impact, and Forecasts (2022 - 2027)

The Indian Agrochemicals Market is segmented by Product Type (Fertilizers, Pesticides, Adjuvants, and Plant Growth Regulators) and Application (Crop-based and Non-crop-based). The report offers market size and forecasts for India agrochemicals in terms of value (USD million) for all the above segments.

Market Snapshot

India agrochemicals market
Study Period: 2017-2027
Base Year: 2021
CAGR: 8.5 %

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Market Overview

The Indian agrochemicals market is projected to register a CAGR of 8.5% during the forecast period (2022-2027).

COVID-19 has affected the production and supply of the agrochemicals market. The global pandemic has impacted the proper functioning of various industries across the country, and it affected the functioning of the agrochemicals market. ​In terms of supply, a short-term shortage of migrant laborers amid distribution bottlenecks created a wide gap between the number of workers required for the production of agrochemicals and the ones available. The production of crops also decreased due to the unavailability of laborers in large-scale plantations, which reduced the demand for agrochemicals during the pandemic.

The rising population across the world, accompanied by rising affluence, is seeing a shift in consumption patterns. There is a need to not just increase production to meet demand but also to ensure that the nutritional needs of an increasingly affluent population are met. Shrinking arable land and loss of crops due to pest attacks lead to wastage, posing a critical challenge to ensuring food and nutritional security. The agrochemical market is an important agriculture support industry, which boosts the agriculture output. These factors support the growth of the market.

Pesticides usage was high among the other chemicals. Price premiums and innovative eco-friendly production methods are emerging steadily in the agrochemical market. There is an increasing need to balance the judicious use of the best chemicals and minimize the impact of that use.

Scope of the Report

Agrochemicals are used to prevent the deterioration of crops from insects and pest infestation and disease. The India agrochemicals market report offers the latest trends, growth factors, industry competitiveness, investment opportunities, and a detailed profile of the top players in the market during the forecast period. 

The Indian Agrochemicals Market is segmented by Product Type (Fertilizers, Pesticides, Adjuvants, and Plant Growth Regulators) and Application (Crop-based and Non-crop-based). The report offers market size and forecasts for India agrochemicals in terms of value (USD million) for all the above segments.

Product Type
Fertilizers
Pesticides
Adjuvants
Plant Growth Regulators
Application
Crop-based
Grains and Cereals
Oil Seeds
Fruits and Vegetables
Non-crop-based
Turf and Ornamental Grass
Other Non-crop-based

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Key Market Trends

Increasing Population and Consequent Rise in Food Demand

According to FAO, India's population is 1.27 billion, and the world population is expected to reach 9 billion by 2050. The increasing population creates a huge demand for food products to feed the population. Agrochemicals are highly important in obtaining high yields as these are necessary to prevent pests and diseases in the field. According to the India Council of Agriculture Research (ICAR) scientists, nearly 30-35% of annual crop yield in India gets wasted because of pests. To tackle these problems and to increase production, the use of crop protection chemicals will increase. Agrochemicals also play a vital role in crop growth, showing improved performance and noticeable results. Supplying adequate plant nutrients is essential for the healthy growth and the production capacity of plants.

As per National Statistical Office (NSO), Ministry of Statistics and Programme Implementation, Government of India, contribution of agriculture and allied sectors in Gross Value Added (GVA) of India for financial year 2020 – 21 is 20.2%. About 50% of Indian population is still dependent on agriculture for their livelihood. Therefore, with decreasing arable land, need to enhance the productivity to cater the food demand from the growing population has been the key factors driving use/application of agrochemicals.

Agrochemicals Market

Increasing Demand for Pesticides

The increasing demand for agricultural products leads to an increase in the use of agricultural chemicals in India for high yields production. Indian agriculture has made rapid growth in terms of production. Production of pulses, coarse cereals, natural fibres, sugarcane, vegetables and fruits have all increased manifold. This coupled with rising incidences of pest attack over changing climatic factors has resulted in increased application of pesticides.

Out of all agrochemicals, pesticides were in huge demand. The majority of the crop yields were wasted due to insects attack, which led to an increase in the use of pesticides in several crops. The impact of climate change has a direct/indirect fallout on pests, which creates an impact on crops. According to the Directorate of Plant Protection, Quarantine and Storage, pesticide consumption was increased by 4.1% from 2016 to 2020. In 2020, the total consumption of chemical pesticides was 58,336 million tons. At the states level, pesticides consumption was high in Maharastra, followed by Uttar Pradesh, and Punjab.

Agrochemicals market

Competitive Landscape

The agrochemicals market is fragmented, with major players, including Bayer CropScience, Syngenta AG, UPL Limited, BASF SE, National Fertilizer Limited, and TATA Rallies. New product launches, mergers and acquisitions, and partnerships are the major strategies adopted by these leading companies in the market. These companies are focusing on making an investment in innovations, collaborations, and expansions to increase their market share.

Recent Developments

In March 2022, FMC India Introduced 'Corprima,' a New Insecticide for Tomato & Okra Crops. Corprima, a novel insecticide that provides higher pest control and improved flower and fruit retention, resulting in larger, higher-quality harvests.

In February 2022, Crystal Crop Protection Limited launched its new product HOLA, a post-emergent herbicide to protect sugarcane crops from weeds across the country.

In March 2021, FMC Corporation collaborated a long-term strategic partnership with UPL Limited to supply Rynaxypr active (insecticide) for use in its products formulations.

In 2020, UPL opened of a state-of-the-art manufacturing facility in Gujarat, India, to produce clethodim herbicide. The development of clethodim aims to provide safe and effective solutions to enhance crop yield because many weeds have developed resistance to glyphosate, a commonly used herbicide.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Fertilizers

      2. 5.1.2 Pesticides

      3. 5.1.3 Adjuvants

      4. 5.1.4 Plant Growth Regulators

    2. 5.2 Application

      1. 5.2.1 Crop-based

        1. 5.2.1.1 Grains and Cereals

        2. 5.2.1.2 Oil Seeds

        3. 5.2.1.3 Fruits and Vegetables

      2. 5.2.2 Non-crop-based

        1. 5.2.2.1 Turf and Ornamental Grass

        2. 5.2.2.2 Other Non-crop-based

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Bayer Crop Science

      2. 6.3.2 BASF SE

      3. 6.3.3 YARA International

      4. 6.3.4 Indian Farmer Fertilizer Cooperative

      5. 6.3.5 Syngenta AG

      6. 6.3.6 National Fertilizers Limited

      7. 6.3.7 Rastriya Chemicals and Fertilizers Ltd

      8. 6.3.8 Coromandel International Limited

      9. 6.3.9 UPL Limited

      10. 6.3.10 Potash Corporation of Saskatchewan

      11. 6.3.11 Sumitomo Chemical India Ltd

      12. 6.3.12 TATA Rallies

      13. 6.3.13 Nagarjuna Fertilizers and Chemicals Limited

      14. 6.3.14 Dhanuka Agritech

      15. 6.3.15 Deepak Fertilizers

      16. 6.3.16 Crystal Crop Protection Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET

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Frequently Asked Questions

The India Agrochemicals Market market is studied from 2017 - 2027.

The India Agrochemicals Market is growing at a CAGR of 8.5% over the next 5 years.

Bayer Crop Science, Syngenta AG, UPL Limited, BASF SE, National Fertilizers Limited are the major companies operating in India Agrochemicals Market.

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