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India Agriculture - Industry - Market, Share and Trends 2023-2028

Report ID:

AGIND1AIND

|

Industry:

Summary of Agriculture

India’s agriculture industry is undergoing significant transformations fueled by technological advancements, policy reforms, and evolving consumer demands. With agriculture being a crucial component of the Indian economy, contributing significantly to GDP and employment, the sector is witnessing a shift towards modernization and sustainability. Currently, the agriculture industry in India has 18.90% globally.

India is among the top global producers of various commodities like rice, cotton, dairy, fruits, vegetables, meat and seafood. India faces challenges in raising agricultural productivity per unit of land, with lower yields compared to other countries like China and Vietnam. Policy actions are needed to enhance productivity, competitiveness, and rural growth.

As per our estimates, we can say that the advanced manufacturing industry in India is forecasted to be a $ 713.42 Billion industry in 2029 from $ 439.47 Billion in 2023 with a CAGR of 8.41%.

Efficient water usage is crucial for Indian agriculture due to limited water resources. Initiatives promoting energy-efficient irrigation products and Farming-as-a-Service (FaaS) are emerging to address water scarcity issues

Government initiatives such as the Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act and the National Agricultural Market (e-NAM) are aimed at improving market access, enhancing farmer income, and streamlining supply chains.

The adoption of digital technologies, precision farming techniques, and climate-resilient crops is gaining momentum, empowering farmers to improve productivity and mitigate risks posed by climate change.India’s agriculture industry is poised for growth and resilience in the coming years, driven by innovation, sustainability and inclusive development strategies.

Recent Trends and Insights

One notable trend is the increasing digitalization of agriculture. Farmers are adopting technologies such as farm management apps, IoT devices, and satellite imaging to make data-driven decisions, improve resource management, and enhance productivity.

Another key trend is the rising popularity of precision agriculture techniques. Farmers are leveraging tools like drone surveillance, soil testing, and precision irrigation to optimize input use, boost crop yields, and reduce environmental impact.

There is a growing emphasis on organic farming in response to consumer demand for healthier and sustainably produced food. This has led to the expansion of organic farming areas and certification programs across the country.

Government initiatives play a crucial role in shaping the industry. Schemes like the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) provide direct income support to small and marginal farmers, while reforms in agricultural marketing laws aim to liberalize farm trade and create a more competitive marketplace.

The concept of Agriculture 4.0 involves leveraging technologies like IoT, big data, AI, and robotics to revolutionize farming practices. This approach aims to enhance efficiency throughout the production chain and transform traditional farming methods.

The agriculture industry in India is witnessing a shift towards technology-driven solutions, sustainable practices and increased productivity. With government support, technological innovations, and a focus on modernizing farming techniques, the future looks promising for Indian agriculture as it strives towards greater efficiency, profitability, and sustainability.

Product Insights

One of the cornerstone products is seeds and planting materials. These are crucial for crop production, with Indian farmers accessing a variety of options including hybrid, genetically modified, and traditional seeds. Companies such as Mahyco, Advanta Seeds, and Nuziveedu Seeds are prominent players offering diverse crop varieties tailored to local conditions.

Agrochemicals, encompassing fertilizers, pesticides, and herbicides, are essential for maintaining soil fertility and controlling pests and diseases. Indian farmers rely on products from companies like Coromandel International, UPL, and Bayer CropScience to safeguard their crops and optimize yields.

Farm machinery and equipment are increasingly adopted for mechanization to improve efficiency and reduce labor costs. Tractors, harvesters, and irrigation equipment are among the essential tools provided by companies like Mahindra & Mahindra, Escorts, and TAFE, catering to diverse farming needs.

The adoption of agricultural technologies is growing, with a focus on precision agriculture, farm management software, and IoT devices. Agri-tech startups like AgroStar, CropIn, and Ninjacart are providing innovative solutions, enabling data-driven decisions and efficient market access for farmers.

Aquaculture is gaining momentum in India, particularly in coastal areas. This sector supports the production of fish and shellfish, providing additional revenue streams for farmers.

Growing demand for organic and specialty products, driving companies like Rallis India, Biocon, and Camson Bio Technologies to provide organic fertilizers, biopesticides, and seeds tailored to organic farming practices. These products collectively contribute to the vibrancy and growth of India’s agriculture industry, addressing the diverse needs and challenges faced by farmers and consumers alike.

Key Companies

Some major players within this vast domain of industry are:

  • Mahindra & Mahindra
  • Bayer CropScience
  • Godrej Agrovet
  • ITC Limited
  • National Seeds Corporation (NSC)
  • Coromandel International Limited
  • Escorts Limited
  • Nuziveedu Seeds Limited
  • DuPont India.
  • Rallis India Limited (Tata Chemicals Limited)
  • Nuziveedu Seeds Limited.

Country Analysis

The agriculture industry in India serves as the backbone of the economy, employing a significant portion of the population and contributing substantially to the country’s GDP. Characterized by diverse agro-climatic conditions, farming practices, and crop varieties, India’s agriculture sector plays a crucial role in ensuring food security and livelihoods for millions of people.

The industry is primarily comprised of smallholder farmers, with a majority of agricultural land being cultivated by individual or family-owned farms. Traditional farming methods coexist with modern practices, reflecting the vast diversity in agricultural landscapes across the country.

Challenges facing the industry include fragmented land holdings, water scarcity, soil degradation, and vulnerability to climate change. Despite these challenges, India has made significant strides in agricultural production, becoming a leading producer of various crops such as rice, wheat, sugarcane, and cotton.

Technological advancements, including the adoption of precision agriculture, genetically modified crops, and digital farming solutions, are increasingly being embraced to address productivity and sustainability concerns.

Agri-tech startups are also playing a significant role in driving innovation and providing farmers with access to information, market linkages, and advisory services.

The agriculture industry in India is not only vital for domestic food security but also presents significant export opportunities. The country’s diverse agro-climatic zones enable the production of a wide variety of crops, spices, fruits and vegetables, catering to both domestic and international markets.

Market segmentation

By Type:

  • Crop Production
  • Livestock Farming
  • Agrochemicals and Inputs
  • Agri-Tech Solutions

By End User:

  • Farmers
  • Agribusinesses
  • Government and Institutions
  • Consumers

By Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises
  • Micro-enterprises and Startups

Organic vs. Conventional Farming:

  • Organic Farming
  • Conventional Farming

Our Methodology

We have offered a well-founded review of India’s agriculture market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any prospects, challenges, competitors or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The India National value of the Agriculture Industry is USD 43947 Billion in 2023 and is expected to grow to USD 71342 Billion by 2029

The CAGR of the Agriculture Industry Market in India is 8.41%

Uttar Pradesh accounts for 14.6% of the total market share of the Agriculture Industry Market in India

The key players in India in Agriculture Industry Market are ITC Limited, Mahindra & Mahindra, Godrej Agrovet, Jain Irrigation Systems and Tata Chemicals. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Agriculture Industry Market in India are Population growth, Food demand, Technological advancements, Government initiatives and Weather patterns. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Agriculture

India’s agriculture industry is undergoing significant transformations fueled by technological advancements, policy reforms, and evolving consumer demands. With agriculture being a crucial component of the Indian economy, contributing significantly to GDP and employment, the sector is witnessing a shift towards modernization and sustainability. Currently, the agriculture industry in India has 18.90% globally.

India is among the top global producers of various commodities like rice, cotton, dairy, fruits, vegetables, meat and seafood. India faces challenges in raising agricultural productivity per unit of land, with lower yields compared to other countries like China and Vietnam. Policy actions are needed to enhance productivity, competitiveness, and rural growth.

As per our estimates, we can say that the advanced manufacturing industry in India is forecasted to be a $ 713.42 Billion industry in 2029 from $ 439.47 Billion in 2023 with a CAGR of 8.41%.

Efficient water usage is crucial for Indian agriculture due to limited water resources. Initiatives promoting energy-efficient irrigation products and Farming-as-a-Service (FaaS) are emerging to address water scarcity issues

Government initiatives such as the Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act and the National Agricultural Market (e-NAM) are aimed at improving market access, enhancing farmer income, and streamlining supply chains.

The adoption of digital technologies, precision farming techniques, and climate-resilient crops is gaining momentum, empowering farmers to improve productivity and mitigate risks posed by climate change.India’s agriculture industry is poised for growth and resilience in the coming years, driven by innovation, sustainability and inclusive development strategies.

Recent Trends and Insights

One notable trend is the increasing digitalization of agriculture. Farmers are adopting technologies such as farm management apps, IoT devices, and satellite imaging to make data-driven decisions, improve resource management, and enhance productivity.

Another key trend is the rising popularity of precision agriculture techniques. Farmers are leveraging tools like drone surveillance, soil testing, and precision irrigation to optimize input use, boost crop yields, and reduce environmental impact.

There is a growing emphasis on organic farming in response to consumer demand for healthier and sustainably produced food. This has led to the expansion of organic farming areas and certification programs across the country.

Government initiatives play a crucial role in shaping the industry. Schemes like the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) provide direct income support to small and marginal farmers, while reforms in agricultural marketing laws aim to liberalize farm trade and create a more competitive marketplace.

The concept of Agriculture 4.0 involves leveraging technologies like IoT, big data, AI, and robotics to revolutionize farming practices. This approach aims to enhance efficiency throughout the production chain and transform traditional farming methods.

The agriculture industry in India is witnessing a shift towards technology-driven solutions, sustainable practices and increased productivity. With government support, technological innovations, and a focus on modernizing farming techniques, the future looks promising for Indian agriculture as it strives towards greater efficiency, profitability, and sustainability.

Product Insights

One of the cornerstone products is seeds and planting materials. These are crucial for crop production, with Indian farmers accessing a variety of options including hybrid, genetically modified, and traditional seeds. Companies such as Mahyco, Advanta Seeds, and Nuziveedu Seeds are prominent players offering diverse crop varieties tailored to local conditions.

Agrochemicals, encompassing fertilizers, pesticides, and herbicides, are essential for maintaining soil fertility and controlling pests and diseases. Indian farmers rely on products from companies like Coromandel International, UPL, and Bayer CropScience to safeguard their crops and optimize yields.

Farm machinery and equipment are increasingly adopted for mechanization to improve efficiency and reduce labor costs. Tractors, harvesters, and irrigation equipment are among the essential tools provided by companies like Mahindra & Mahindra, Escorts, and TAFE, catering to diverse farming needs.

The adoption of agricultural technologies is growing, with a focus on precision agriculture, farm management software, and IoT devices. Agri-tech startups like AgroStar, CropIn, and Ninjacart are providing innovative solutions, enabling data-driven decisions and efficient market access for farmers.

Aquaculture is gaining momentum in India, particularly in coastal areas. This sector supports the production of fish and shellfish, providing additional revenue streams for farmers.

Growing demand for organic and specialty products, driving companies like Rallis India, Biocon, and Camson Bio Technologies to provide organic fertilizers, biopesticides, and seeds tailored to organic farming practices. These products collectively contribute to the vibrancy and growth of India’s agriculture industry, addressing the diverse needs and challenges faced by farmers and consumers alike.

Key Companies

Some major players within this vast domain of industry are:

  • Mahindra & Mahindra
  • Bayer CropScience
  • Godrej Agrovet
  • ITC Limited
  • National Seeds Corporation (NSC)
  • Coromandel International Limited
  • Escorts Limited
  • Nuziveedu Seeds Limited
  • DuPont India.
  • Rallis India Limited (Tata Chemicals Limited)
  • Nuziveedu Seeds Limited.

Country Analysis

The agriculture industry in India serves as the backbone of the economy, employing a significant portion of the population and contributing substantially to the country’s GDP. Characterized by diverse agro-climatic conditions, farming practices, and crop varieties, India’s agriculture sector plays a crucial role in ensuring food security and livelihoods for millions of people.

The industry is primarily comprised of smallholder farmers, with a majority of agricultural land being cultivated by individual or family-owned farms. Traditional farming methods coexist with modern practices, reflecting the vast diversity in agricultural landscapes across the country.

Challenges facing the industry include fragmented land holdings, water scarcity, soil degradation, and vulnerability to climate change. Despite these challenges, India has made significant strides in agricultural production, becoming a leading producer of various crops such as rice, wheat, sugarcane, and cotton.

Technological advancements, including the adoption of precision agriculture, genetically modified crops, and digital farming solutions, are increasingly being embraced to address productivity and sustainability concerns.

Agri-tech startups are also playing a significant role in driving innovation and providing farmers with access to information, market linkages, and advisory services.

The agriculture industry in India is not only vital for domestic food security but also presents significant export opportunities. The country’s diverse agro-climatic zones enable the production of a wide variety of crops, spices, fruits and vegetables, catering to both domestic and international markets.

Market segmentation

By Type:

  • Crop Production
  • Livestock Farming
  • Agrochemicals and Inputs
  • Agri-Tech Solutions

By End User:

  • Farmers
  • Agribusinesses
  • Government and Institutions
  • Consumers

By Enterprise Size:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises
  • Micro-enterprises and Startups

Organic vs. Conventional Farming:

  • Organic Farming
  • Conventional Farming

Our Methodology

We have offered a well-founded review of India’s agriculture market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any prospects, challenges, competitors or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The India National value of the Agriculture Industry is USD 43947 Billion in 2023 and is expected to grow to USD 71342 Billion by 2029

The CAGR of the Agriculture Industry Market in India is 8.41%

Uttar Pradesh accounts for 14.6% of the total market share of the Agriculture Industry Market in India

The key players in India in Agriculture Industry Market are ITC Limited, Mahindra & Mahindra, Godrej Agrovet, Jain Irrigation Systems and Tata Chemicals. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Agriculture Industry Market in India are Population growth, Food demand, Technological advancements, Government initiatives and Weather patterns. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

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Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

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Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.