Pesticides Market in India to Cross $5 Billion Sales By 2026
Rising awareness
among farmers, increasing focus on food security and expanding population base
to drive growth in India pesticides market through 2026
According to
TechSci Research report, “India Pesticides Market By Type, By Application, By Region, Competition
Forecast & Opportunities, 2012-2026’’, pesticides market in India is
forecast to surpass $ 5 billion by 2026, owing to decreasing arable land and
rising food security concerns for continuously growing population across the
country. Per capita arable land amount in India has considerably reduced from
~0.34 ha in 1950s to ~0.15 ha in 2000s and is further expected to decrease to ~
0.07 ha by 2030, owing to expanding population base. Moreover, an increasing number
of initiatives are being taken by pesticide manufacturing companies to spread
awareness among farmers and also to educate them regarding optimum utilization
of pesticides, in order to improve their crop yield. Rising product innovation and declining prices of
pesticides is increasing the use of pesticides in the country. Various measures
have been taken by public authorities to stimulate crop yield and production
across the country, which is positively impacting the revenue and production of
pesticides in India.
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On account of aforementioned factors, India pesticides
market is projected to modest decent growth through 2026. India pesticides
market is segmented into insecticides, herbicides and fungicides based on
product type. Decrease in per capita arable land and adoption of advanced farming
techniques have increased consumption of insecticides, thus, leading to insecticides
segment accounting for majority share in India pesticides market. North India
accounted for largest share in India pesticides market owing to wide-scale
agricultural production in Haryana, Punjab and Uttar Pradesh. Moreover, Uttar
Pradesh generated a total demand for more than 10,000 MT pesticides in 2016,
making the state largest consumer of pesticides across India. Some of the major players of
pesticides in India are Bayer Crop Science, Syngenta India, Rallis India, BASF
India Ltd., etc.
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“India pesticides
market is dominated by North region as Punjab, Haryana and Uttar Pradesh are
most fertile states across north region, thus driving consumption of pesticides
in the region over the past few years. Moreover, increasing demand for bio
pesticides, growing use of efficient pesticides spray system and rising
adoption of environmental friendly pesticides are forecast to further fuel
growth in India pesticides market in the coming years”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Pesticides Market By Type, By Application, By
Region, Competition Forecast & Opportunities, 2012-2026’’, has evaluated
the future growth potential of India pesticides market and provides statistics
and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyses
the emerging trends along with essential drivers, challenges and opportunities
in India pesticides market.
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