India agrochemical market to grow fast with expected CAGR 8 %.
To know about the Research Methodology :- Request Free Sample Report Increasing population, decreasing per capita availability of arable land & focus on increasing agricultural yield are major factors driving the India’s agrochemical market. Growing demand for food grains, need for increased land productivity, government is encouraging the use of t he decontrolled fertilizers, new policies are launched to encourage maximum production of f ertilizers are major growth factors of India agrochemical market. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue o f market leaders, market followers and disrupters in the report and same is reflected in our a nalysis. Whereas shrinking farm land, increased organic farming practices limits the market. Farmer s are also investing more in seed treatment agrochemicals that help ensure disease resistan ce along with better and more uniform germination thereby gaining growth to market. Indian agriculture sector is currently facing critical challenges like reduction in arable land, decreasi ng farm size, increasing pest attacks and low per hectare yield position which is being positi vely impacting on the India’s agrochemical market. Insecticides segment held around 55 % share followed by fungicides and herbicides contrib uting 18 % and 16 % share of the agrochemicals market in India. India’s capability in low co st manufacturing, the availability of technically trained resources, seasonal domestic deman d, overcapacity, better price realization, and a strong presence in generic pesticide manufac turing are the major factor boosting the insecticide segment growth. Cereals and pulses, fruits and vegetables are estimated to grow at 2 % per annum, and 4 % per annum contribute to the overall agricultural growth. Cereal & grains is forecasted to dom inate throughout the forecast period.