MARKET OVERVIEW
The Agriculture Industry in India was valued at INR 99,689.0 Billion in 2024 and is projected to reach INR 236,603.2 Billion by 2033. The market is forecast to grow at a CAGR of 10.08% during the period 2025-2033. Growth is driven by factors such as shifting dietary patterns, rapid population increase, changing climatic conditions, natural disasters, and technological advances like precision farming and automation. The report presents a thorough review featuring the Agriculture Industry in India growth, share, trends, and research of the industry.
STUDY ASSUMPTION YEARS
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
AGRICULTURE INDUSTRY IN INDIA MARKET KEY TAKEAWAYS
- Current Market Size: INR 99,689.0 Billion in 2024
- CAGR: 10.08%
- Forecast Period: 2025-2033
- India is a leading global producer of food grains such as rice, wheat, sugarcane, cotton, and pulses, and the largest exporter of spices including chili, turmeric, and cardamom.
- Agriculture contributes about 17-18% to India’s GDP and employs approximately 44-46% of the workforce.
- Major challenges include fragmented land holdings and water scarcity; however, technology adoption and government initiatives present significant opportunities.
- Key Indian companies include DuPont India, Rallis India Limited (Tata Chemicals Limited), and Nestle India Limited.
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MARKET TRENDS
Rising Food Demand: The Indian population growth, increasing disposable incomes, and improving living standards are driving higher demand for food and agricultural products. By 2030, food grain demand is expected to reach 311 million tons including rice (122 million tons), wheat (115 million tons), coarse cereals (47 million tons), and pulses (27 million tons). Vegetable consumption is also rising, with per capita availability increasing from 388.7 grams/day in 2017-18 to 400 grams/day in 2020-21, further contributing to market expansion.
Increasing Export Activities: Agriculture supports 58% of India’s population and has achieved self-sufficiency, enabling exports of cereals valued at US$ 12,872.64 Million in 2021-22. Rice constitutes 75% of total cereal exports by value. Major export destinations include Bangladesh, Iran, Saudi Arabia, Nepal, Vietnam, and Benin. This strong export growth is expected to boost the agricultural sector revenue.
Government Initiatives: The Indian government has launched multiple initiatives to improve agricultural productivity and sustainability. Key programs include the National Program on Organic Farming and Paramparagat Krishi Vikas Yojana promoting bio-agriculture. The 2022-23 Union Budget allocated INR 1.24 Lakh Crore (US$ 15.9 Billion) for agriculture and farmers’ welfare. Additionally, 729 Krishi Vigyan Kendras were established to promote advanced farming technologies and pilot projects with companies like CISCO and ITC to enhance crop yields.
MARKET GROWTH FACTORS
Population Growth & Demand: Significant population growth and rising food demand are driving agriculture market expansion. The increasing preference for organic foods is also contributing to growth. The sector’s critical role as a livelihood source and food producer supports sustained market performance.
Technological Advancements: Modern farming technologies such as precision farming, data analytics, drones, automation, AI, and ML are improving productivity and operational efficiency. Adoption of UAVs and drones with imaging capabilities help monitor crop health, while advanced irrigation and water management technologies are optimizing resource use and supporting sustainable agriculture.
Government Support & Policies: Government schemes like the National Mission on Natural Farming (NMNF), with a proposed Rs 459.00 crores budget for 2023-24, and collaborations with technology providers exemplify institutional efforts to modernize agriculture. These initiatives help farmers adopt chemical-free and natural farming practices, enhancing market growth prospects.
For detailed insights, visit the Agriculture Industry in India Market Report page: https://www.imarcgroup.com/agriculture-industry-in-india
MARKET SEGMENTATION
The market segments and sub-segments are:
- Farming
- Agriculture Equipment
- Fertilizers
- Pesticides
- Warehousing
- Cold Chains
- Food Processing
- Dairy Market
- Floriculture
- Apiculture
- Sericulture
- Seeds
- Fisheries
- Poultry
- Animal Husbandry
- Animal Feed
- Bio-Agriculture Market
Description of Subsectors:
- Farming is the largest segment, driven by a growing demand for diverse and nutritious food. It includes crop cultivation, livestock, and fisheries, focusing also on sustainable and organic farming with government backing for chemical-free practices.
- Agriculture Equipment includes machinery facilitating farming operations, enhancing efficiency, and productivity.
- Fertilizers and Pesticides subsectors focus on inputs that improve crop health and yield.
- Warehousing and Cold Chains address the storage and preservation of agricultural produce to reduce losses.
- Food Processing converts raw agricultural products into consumables, adding value.
- Dairy Market covers milk and related products.
- Floriculture, Apiculture, and Sericulture pertain to flowers, beekeeping, and silk production respectively.
- Seeds subsector involves production and distribution of quality seeds.
- Fisheries and Poultry pertain to aquatic and bird farming.
- Animal Husbandry and Animal Feed focus on livestock management and nutrition.
- Bio-Agriculture Market promotes organic and sustainable farming inputs and practices.
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RECENT DEVELOPMENTS & NEWS
- April 2024: AgriVision launched the "Krishi Chinhaari" Article Collection Campaign to revive India’s ancient agricultural practices by gathering scholarly articles and research.
- January 2024: The Council of Scientific and Industrial Research (CSIR) initiated a mission to develop region-specific smart agro-technologies to enhance soil health and farmer incomes, including automation, drones, and AI integration.
- March 2023: Governments of Ecuador, India, Kenya, Laos, Philippines, Uruguay, and Vietnam launched a US$ 379 Million initiative to reduce pollution from pesticides and plastics in agriculture.
KEY PLAYERS
- DuPont India
- Rallis India Limited (Tata Chemicals Limited)
- Nuziveedu Seeds Limited
- Godrej Agrovet Limited
- Nestle India Limited
- Advanta Seeds
- Parle Products Pvt. Ltd.
- Britannia Industries Limited
- IFFCO
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