The Indian Pesticides Market is expected to reach USD 3506.33 million by 2021 from USD XX million in 2015. The market is projected to grow at a CAGR of 10.17% during 2016-2021 period.
Synthetic pesticides have been extensively used in the country for alleviating the estimated 45% gross loss of crops due to infestation of pests and diseases. Major factors driving growth for pesticides in India include greater demand for food grains, limited availability of arable land and increasing exports, growth in horticulture and floriculture and increasing public awareness regarding pesticides as well as biopesticides. Despite this, the Indian pesticides industry has to confront numerous challenges, including high costs of research and development, increase in area under Bt cotton, requirement for efficient distribution systems and rising demand for organic farming. India’s agrochemicals consumption is one of the lowest in the world, making immense scope for growth of industry. Other opportunities offered include huge potential for exports, expiry of patents, expansion of product portfolios by leading players and adoption of biopesticides.
By segment, biopesticides are likely to witness the faster growth in comparison to the synthetic chemicals in India, the biopesticide segment will witness the double digit growth during 2016-2021. The segment has more relevance today since trends show that people prefer more ecofriendly options over non-ecofriendly products and are becoming more health conscious. By product type, insecticides are the largest crop protection chemicals segment in the region, followed by fungicides and herbicides. Segmentation of this report has included categorizing pesticides as synthetic and biopesticides. By application area, pesticides demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications). In India, rice consumes maximum share of pesticides (28% followed by cotton 20%).
The major companies dominating Indian market for its products, services, and continuous product developments are Bayer CropSciences, Monsanto, Bharat Rasayan, PI Industries, Excel Crop Care, Rallis, Ngarjuna Agrichem and others.
Key Deliverables in the Study