India's pesticide market will reach 3.7 billion in 2018

2013/11/26 World Agrochemical Network

according to the "2018 India Pesticide Industry Pre-analysis" report, the Indian pesticide market is expected to reach 229.8 billion Indian rupees (approximately US $3.68 billion), with a compound annual growth rate of 14.7 from fiscal year 2014 to fiscal year 2018.

Factors such as increased farmer awareness, economic affluence, preference for organic food, increasing focus on R & D, expansion of contract farming, and GDP growth will drive the growth of the plant protection industry in India in the future.

The pesticide industry in India can be broadly divided into 6 categories, including pesticides, herbicides, fungicides, biological pesticide plant growth regulators and rodenticides. Among the above categories, pesticides account for the highest proportion of pesticide market revenue, accounting for about 45%. Although the market share is far ahead, the market share of pesticides has declined steadily over the past few years. The market share of herbicides is behind that of pesticides. Herbicides are the fastest growing segment of the overall pesticide market. Biopesticides are another important component of the pesticide market. Biopesticides currently account for only a small proportion, but the potential for growth in the coming years is huge, mainly due to government support and increased awareness of the use of non-toxic, environmentally friendly pesticides in India.

Pesticide consumption in India is unevenly distributed across different regions. The use of pesticides in the northern part of India accounts for the vast majority, while the eastern and northeastern parts of India account for the least. Large states with pesticide consumption in India include Andhra Pradesh, UP, Maharashtra, Punjab, Haryana, West Bengal, Gujarat, Kerala and Tamil Nadu.

The plant protection industry in India is capital intensive and highly regulated. The industry is mainly composed of manufacturers of original drugs and manufacturers of preparations. The manufacturer of the original drug usually sells the high-quality original drug in bulk to the formulation manufacturer, who then mixes the carrier, solvent, surfactant and other related compounds to formulate the preparation. UPL, Bayer CropScience, Syngenta, Laris India and BASF are some of the major players in the sector and account for the majority of the sector's revenues in India based on FY2013 sales performance.

Man of Feeding