Indian Agriculture Market Outlook
According to a new report by Expert Market Research titled “Indian Agriculture Market Size, Share, Analysis, Growth, Demand, Forecast 2024-2032″, the Indian agriculture market reached a value of USD 457.26 billion in 2023. Aided by the rising food demand of the global population and incorporation of improved agricultural practices by farmers, the market is projected to further grow at a CAGR of 4.9% between 2024 and 2032.
Indian agriculture, deep-rooted in the country’s cultural and economic fabric, spans a vast array of products from staple grains like rice and wheat to cash crops such as cotton and jute. Furthermore, India’s topographical and climatic diversity affords the cultivation of a wide spectrum of horticultural produce, including fruits, vegetables, and spices. This sheer variety ensures that the nation remains a vital cog in the global agricultural trade machinery.
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The primary catalyst for the Indian agriculture market growth is the ever-increasing domestic demand for food, spurred by the nation’s vast population. Additionally, as incomes rise and consumer preferences evolve, there’s a palpable shift towards a diversified diet, leading to increased consumption of high-value crops, dairy products, and meat.
An emergent trend bolstering the Indian agriculture market demand is the rising inclination towards organic and sustainable farming methods. Aided by supportive government policies and heightened consumer awareness about health and environment, organic farming has been gaining traction, leading to a burgeoning market for organic produce both domestically and globally.
Moreover, the Indian agriculture market size is expanding as a result of the growth of allied sectors, like fisheries, poultry, and dairy. For instance, India has fortified its position as the world’s largest milk producer, driven by a robust dairy sector that’s increasingly integrating technology for enhanced production and supply chain efficiency.
The Indian agriculture market trends are shaped by the expansion of agro-based industries. The country’s vast agricultural output has paved the way for a thriving food processing industry, creating value-added products for both local consumption and export. This relationship between agriculture and agro industries underscores the importance of a robust agricultural framework.
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With strategic government initiatives, increasing foreign investments, and the proliferation of technology in agriculture – from farm equipment mechanisation to digital platforms for supply chain optimisation – the future of the industry seems promising. As India endeavours to ensure food security for its citizens and bolster its agro exports, the agricultural sector stands as a testament to the nation’s resilience and potential, poised for growth in the years ahead.
Indian Agriculture Market Segmentation
The market can be divided based on sector and region.
Market Breakup by Sector
- Agriculture Equipment
- Cold Chains
- Animal Husbandry
- Animal Feed
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Indian agriculture market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nuziveedu Seeds Limited
- UPL Ltd (Advanta Seeds)
- LEMKEN India
- Beri Udyog Pvt Ltd.
- Deccan Farm Equipments Pvt. Ltd
- India Agrovision Implements Pvt. Ltd
- RSR Retail Pvt. Ltd
- Chambal Fertilisers and Chemicals Limited
- Coromandel International Limited
- Dhanuka Agritech Ltd
- BASF SE
- DuPont de Nemours, Inc.
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