Pesticide Market in India to Grow by USD 529 Million from 2024-2028, Driven by Increased Herbicide Use; AI Impacting Market Trends – Technavio

NEW YORK, Oct. 22, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Pesticide Market in India  size is estimated to grow by USD 529 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.82%  during the forecast period. Increased use of herbicides is driving market growth, with a trend towards expanding applications of nano-insecticides. However, presence of alternative techniques for pesticides  poses a challenge – Key market players include Aimco Pesticides Ltd, BASF SE, Bayer AG, Bharat Rasayan Ltd., CropG1 Agro Research and Development Pvt. Ltd., Dhanuka Agritech Ltd., Forward International Ltd., India Pesticides Ltd, Insecticides India Ltd., Meghmani Industries Ltd., NACL Industries Ltd., Netsurf Communication Pvt. Ltd., Rallis India Ltd., Sarvava Agritek Pvt. Ltd., Shree Pesticides Pvt. Ltd., Sumitomo Chemical Co. Ltd., Super Bio Tech Marketing Co., UPL Ltd., Volkschem Crop Science Pvt. Ltd., and Wellcrop Biotech Pvt. Ltd..

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Key Market Trends Fueling Growth

The Indian pesticide market is poised for growth due to the adoption of nanotechnology in creating eco-friendly insecticides. Nanoparticles are transforming sectors like pharmaceuticals, medical devices, and chemicals. Agro-scientists believe that nanotechnology can make insecticides safer by reducing their toxicity. With potential for improved insecticides, the need for large quantities to be sprayed on crops could significantly decrease. These factors are expected to fuel market expansion during the forecast period. 

In the last few decades, India’s agricultural sector has seen significant growth, with overall production increasing to meet the demands of its expanding population. Pests and diseases have long been a challenge for farmers, leading to blemishes, damage, and reduced quality produce. To combat these issues, the application of pesticides has become essential. The market for pesticides in India has witnessed penetration levels rising due to the availability of appropriate chemicals for controlling pests like insects, weeds, fungi, rodents, and birds. The Indian government has identified key pest problems and has been promoting the use of pesticides to boost agricultural productivity and ensure food security. With low-interest rates and large-scale farming in rural areas, the demand for pesticides continues to grow. Chemical pesticides remain the most common solution, but new application methodologies are being explored to minimize environmental impact. The significance of pesticides in securing food availability and average crop yields cannot be overstated. 

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Market Challenges

•         The Indian pesticide market has faced hindrances in growth due to the adoption of alternative farming methods. Farmers have turned to techniques such as crop rotation and integrated pest management (IPM). IPM involves developing pest-resistant crop varieties, deploying mechanical pest traps, using predatory insects, and removing pest nesting places via tillage under harvested crops. This shift towards sustainable farming practices was driven by public awareness of the negative effects of pesticide use. Consequently, the Indian pesticide market is expected to experience restrained growth during the forecast period.

•         The Indian pesticide market faces several challenges in protecting crops from pests such as insects, weeds, fungi, rodents, and birds. Pest infestations lead to damage and yield loss, affecting agricultural productivity and food security. The expanding population and urbanization levels put pressure on farmers to produce high-quality produce for both domestic consumption and exports. Large-scale farming operations require certified pesticides to meet international standards. The Indian government offers schemes and subsidies to make quality pesticides more accessible to farmers. However, the usage of pesticides must be monitored to ensure safety and minimize blemishes on produce. The mixture of substances in pesticides can be complex, making training initiatives essential for farmers to understand proper application methods. The yield of produce, food demands, and credit facilities all impact the quantity of pesticides used. The challenges of pest control are ongoing, requiring continuous innovation and adaptation in agricultural operations.

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Segment Overview 

This pesticide market in India report extensively covers market segmentation by

1. Product 

• 1.1 Herbicides
• 1.2 Insecticides
• 1.3 Fungicides
• 1.4 Others

Crop Type

• 2.1 Cereals and grains
• 2.2 Vegetables and fruits
• 2.3 Oilseeds and pulses
• 2.4 Commercial crops
• 2.5 Others

Type 

• 3.1 Synthetic pesticides
• 3.2 Biopesticides

Geography 

1.1 Herbicides-  The Indian pesticide market is significant, with a large agricultural sector requiring effective crop protection solutions. Major players include Dow AgroSciences, Syngenta, and BASF. The market is driven by factors like increasing farm productivity and government initiatives. Regulations by the Ministry of Agriculture and Farmers Welfare ensure market transparency and safety. Domestic production meets around 70% of demand, with imports primarily from China and the US. Market size is expected to grow due to rising agricultural output and demand for organic farming.

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Research Analysis

Pesticides play a crucial role in Indian agriculture by protecting crops from various pests, including insects, weeds, fungi, rodents, and birds. These substances help maintain agricultural productivity and ensure food security by preventing blemishes and damage that can reduce the yield of produce. With increasing food demands and population levels, the need for pesticides is on the rise. However, the use of these substances also comes with challenges, such as urbanization levels leading to the contamination of arable land and potential health risks for both plants and animals. To address these concerns, various training initiatives are being taken to educate farmers on the proper use and application of pesticides. The Indian pesticide market is expected to grow significantly due to the increasing demand for high-yield crops, credit facilities, and farm loans.

Market Research Overview

Pesticides play a crucial role in Indian agriculture by protecting crops from pests such as insects, weeds, fungi, rodents, and birds. These organisms can cause significant damage to crops, leading to blemishes, yield loss, and decreased agricultural productivity. With the expanding population and urbanization levels, the demand for food is increasing, making it essential to ensure high-quality produce for both domestic consumption and exports. The Indian government recognizes the significance of pesticides in maintaining agricultural productivity and food security. Various schemes and subsidies have been implemented to promote the use of certified pesticides and provide training initiatives for farmers. In the last few decades, the penetration levels of pesticides in Indian agriculture have increased significantly. The usage of pesticides has become a common agricultural operation to combat diseases and pests that threaten food production. However, the quantity and application methodology of these chemicals must be carefully monitored to adhere to international standards and minimize potential harm to the environment and human health. The market for pesticides in India is substantial, driven by the large-scale farming operations in rural areas and the need for high-yield produce to meet food demands. Farmers rely on a mixture of substances to address identified pest problems, and the availability of credit facilities and farm loans facilitates the purchase of appropriate chemicals. Despite the importance of pesticides, it is crucial to recognize their potential risks and ensure their responsible use to maintain overall agricultural production, food availability, and population health.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Product
• Herbicides
• Insecticides
• Fungicides
• Others
• Crop Type
• Cereals And Grains
• Vegetables And Fruits
• Oilseeds And Pulses
• Commercial Crops
• Others
• Type
• Synthetic Pesticides
• Biopesticides
• Geography

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

About Technavio

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