India Agrochemicals Market Size, Share & Trends Analysis Report By Product, By Fertilizers, By Crop Protection Chemicals, By Application, And Country Forecasts, 2024 - 2030

India Agrochemicals Market Size, Share & Trends Analysis Report By Product, By Fertilizers, By Crop Protection Chemicals, By Application, And Country Forecasts, 2024 - 2030

India Agrochemicals Market Growth & Trends

The India agrochemicals market size is anticipated to reach USD 51,291.0 million by 2030 and is expanding at a CAGR of 6.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Climate change-related challenges, such as unpredictable weather patterns and pest infestations, necessitate the use of agrochemicals for crop protection and resilience. This drives demand for innovative and effective solutions. Strategic collaborations, mergers, and acquisitions among agrochemical companies lead to product innovation, wider market reach, and enhanced distribution networks, driving overall market growth and competitiveness.

Advancements in fertilizers is driving the growth of India agrochemical market. In December 2021 Indian Farmers Fertilizer Cooperative Limited (IFFCO) launched the world's first liquid Nano DAP (Diammonium Phosphate) fertilizer variant with the aim of reducing India's import bills by promoting domestic production of essential agricultural inputs. The Green Nano DAP is designed to improve nutrient absorption by crops, enhance soil health, and increase overall agricultural productivity, thereby supporting India's goal of self-reliance in agriculture and reducing dependency on imported fertilizers.

India Agrochemicals Market Report Highlights

• Based on product, fertilizers held the largest market share of 68% in 2023. Advancements in fertilizer technology, such as slow-release fertilizers and micronutrient-enriched fertilizers, improve efficacy and nutrient absorption by crops. This encourages farmers to invest in advanced fertilizers, boosting market growth.
• Crop protection chemicals is expected to grow at fastest CAGR over the forecast period. Enhanced awareness among farmers about the benefits of crop protection chemicals, proper application techniques, and safety measures is leading to higher adoption rates.
• Based on fertilizers, nitrogenous held the largest market revenue share in 2023. Crops, especially cereals and grains, exhibit a significant response to nitrogen fertilization in terms of increased yields and improved quality. This positive correlation between nitrogen application and crop productivity encourages farmers to invest in nitrogenous fertilizers.
• Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers) is expected to grow at fastest CAGR in the forecast period. Modern farming practices emphasize nutrient balance for optimal crop growth. Secondary fertilizers help achieve this balance by supplementing primary nutrients like nitrogen, phosphorus, and potassium, especially in regions with nutrient-depleted soils. Precision agriculture techniques further drive demand for targeted nutrient applications.
• Based on crop protection chemicals, insecticides held the largest market revenue share in 2023. Climate change influences pest dynamics, leading to shifts in pest populations, distribution, and behavior. Insecticides play a crucial role in managing pest outbreaks exacerbated by climate variability, driving their demand for pest control under changing environmental conditions.
• Based on application, cereal & grains held the largest market share in 2023. Cereal and grain crops have diverse uses beyond food consumption, such as animal feed, biofuel production, and industrial processing. Their versatility makes them indispensable commodities, contributing to their high market share in agricultural applications. Fruits & Vegetables segment is expected to grow at fastest CAGR during the forecast period. Advancements in agricultural technologies, including greenhouse farming, hydroponics, vertical farming, and precision irrigation, improve productivity, quality, and shelf life of fruits and vegetables. Technological innovations drive market competitiveness and growth.

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