India Agrochemicals Market- By Type, Application and Geography-Market Shares, Forecasts And Trends (2015 - 2020)
LONDON, Oct. 1 2015 /PRNewswire/ -- Asia-Pacific accounts for almost 30% of land available on earth and 60% of human population. Population statistics in the region have been responsible for maintaining adequacy in agricultural practices, ensuing in greater utilization of agrochemical products in areas that were ignored in the past. Embracing the modern practices in the fields, usages of agrochemicals have seen tremendous growth particularly for pesticides and fertilizer consumption. India is the second biggest consumer of agrochemical products in the world next only to China. With its highest population density, the agrochemicals market in India is estimated to grow at a rate of 6.8% from 2015-2020.
Globalization of agrochemical industry has a huge impact on the Indian market. With the high rate of population growth, increasing need of food production and economic growth, the market for agrochemicals get pushed ahead.. The ambitious project of food security can only be achieved only through improved product performance and productivity with scarce resources available. Land scarcity due to urbanization, soil degradation, water scarcity etc. makes it more essential for the farmers to use agrochemicals to sustain. Export potential and Integrated Farming Practices would provide future growth opportunities. Low awareness
among farming community and their low acceptance level to the modern day farming practices act as major challenges for the industry.
In product segment, nitrogenous fertilizers form the largest share of fertilizer market. Pesticides market is currently lead by herbicides products followed by fungicides and insecticides. The market is further segmented application wise as crop based such as cereals, grains, oilseeds, and vegetables and non-crop based applications. The market in India is highly dominated by the foreign players. Bayer AG is the largest agrochemical producer in the world. Some of the big names include-Yara International ASA, BASF, Bayer Crop Science, MakhteshimAgan Industries Ltd, Dow Agro Sciences, Monsanto, Syngenta, Aventis, Agrium etc.Lallemand Inc. and ArystaLifeScience (Japan), Sinofert Holdings Limited (China) are some of the big local companies operating in the region. Indian Farmers Fertiliser Cooperative, National Fertilizers Limited, RashtriyaChermicals and fertilizers Ltd.Zuari Agro Chemicals, Nagarjuna Fertilizers and Chemicals Limited, and Coromandel International Limited are some of the big local companies operating in the Indian sub-continent.
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