According to the latest report by IMARC Group, titled “Indian Pesticides Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” provides an extensive analysis of the industry, including Indian pesticides market share, trends, and growth opportunities. The report also covers competitor and regional analysis and the latest advancements in the market. The Indian pesticides market size reached INR 229.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 342.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
Indian Pesticides Market Overview:
Pesticides are substances used to prevent, control, or eliminate pests that can harm crops, plants, and sometimes even animals. Pests can range from insects, weeds, and fungi to rodents and birds. The primary aim of using pesticides is to enhance agricultural productivity by reducing crop damage and loss due to these pests. When applied correctly, pesticides ensure a higher yield of produce, which is vital for food security in many regions. Pesticides can be categorized into various types, such as insecticides, herbicides, fungicides, and rodenticides. Each type is formulated to target specific pests without harming the crops. They help in producing crops free from blemishes and damage, leading to better quality and aesthetically pleasing produce. They also allow for the cultivation of crops on a large scale by effectively managing pests. Large-scale farming can be more efficient and help meet the food demands of growing populations.
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Indian Pesticides Market Trends:
The significant growth in the agriculture industry due to the growing population and rising food demand is one of the primary factors providing an impetus to market growth. Pesticides are safe, stable, and highly effective substances that can be applied through various methods such as spraying, dusting, seed treatment, and soil application to reduce post-harvest losses, preserve food quality and minimize wastage.
Additionally, the implementation of supportive policies by the Government of India (GoI) to educate farmers regarding the benefits of pesticides and promote their adoption in agricultural practices is favoring the market growth. Moreover, the adoption of biopesticides that are derived from natural sources and have lower environmental impact compared to conventional pesticides is contributing to the market growth. Other factors, including the adoption of modern farming practices, increasing investment in the development of advanced pesticides, and growing emphasis on food safety, are anticipated to drive the market growth.
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Key Market Segmentation:
Breakup by Product type:
- Synthetic Pesticides
- Biopesticides
Breakup by Segments:
- Insecticides
- Fungicides
- Herbicides
- Others
Breakup by Formulation:
- Liquid Pesticides
- Dry Pesticides
Breakup by Crop Type:
- Cereals
- Vegetables
- Fruits
- Plantation Crops
- Others
Competitive Landscape:
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
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