The
technical pesticides Market for India will continue to grow at a considerable
pace in the next few years with addition of new players and continuous support
from government. The market is predicted to grow at a CAGR of 14.5% from FY’2016-FY’2020.
Factors such as augmenting level of population, growing food
demand coupled with the declining farmland have provided a major thrust to the
need for improving the agrarian yield and avoiding the pests resulting loss in
crop have impelled the scope for crop protection industry in India for several
years in the past and the trend is expected to continue in the future years as
well owing the industry innovations, improved penetration of the companies,
organized distribution channel, increasing awareness amongst the farmers and
others.
India pesticides industry is an
effervescent market in the world, valued at INR~ billion as witnessed in FY’2015.
Over the last five years from FY’2010-FY’2015, the industry has observed an
average annual growth of 12.1% in value terms. The growth in the Indian
pesticides market over the period FY’2010-FY’2015 was primarily supplemented by
the remarkably rising population and inflating agricultural commodity prices.
The Indian pesticides industry has
experienced favorable growth on account of impelling demand due to research and
development activities being carried out in companies, emergence of new and innovative
pesticides as well as by declining prices due to augmenting competition in the
market. Another important factor that is influenced the market for pesticides during
FY’2010-FY’2015 has been the growing incidence of organic farming in the
country, which has impelled attributing to the growing consumer awareness for
health and hygiene. Additionally, that favorable government policies provided
support the growth of Indian pesticides industry in the over the period
FY’2010-FY’2015.
“According
to Research Analyst at Ken Research, the players need to place increased focus
on delivering quality products and should invest greater amount in research and
development in order to produce innovative and productivity enhancing
pesticides. At Government level, proper Redressal system, revision in old
structures and mandatory checking of spurious pesticides is need of an hour.
The industry, however, is expected to face major challenges in terms of
unpredictable weather which may affect the pest occurrences in the short term”.
The report titled “India Pesticides
Market Forecast to FY’2020” provides a comprehensive analysis of the pesticides
market in India and
helps readers to identify the ongoing trends in the industry and anticipated
growth in future depending upon changing industry dynamics in coming years. The
report will help industry consultants, pesticide manufacturing companies,
suppliers, retail chains, new players and
other stakeholders to align their market centric strategies according to
ongoing and expected trends in the future.
Related Reports:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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