India Agriculture Industry Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 10.5% (2024-2032)

Market Size in 2023: INR 90,215.8 Billion

Market Size in 2032: INR 227,059.9 Billion

The agriculture industry in India is a vital sector, supporting livelihoods, driving exports, and contributing significantly to the economy. According to the latest report by IMARC Group, the size reached INR 90,215.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 227,059.9 Billion by 2032, exhibiting a growth rate (CAGR) of 10.5% during 2024-2032.

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Agriculture Industry in India Trends and Drivers:

1. Growth Drivers

1. Adoption of modern technologies like drones, IoT sensors, and satellite monitoring to optimize resources and enhance yields.

2. Government initiatives such as Pradhan Mantri Fasal Bima Yojana (PMFBY) for crop insurance and e-NAM for better market access.

3. Increased demand for food security due to population growth.

4. Investments in mechanization, precision farming, and digital agriculture improving productivity and efficiency.

2. Technological Advancements

1. Use of drones for crop monitoring and pesticide spraying.

2. IoT sensors for resource optimization and crop health management.

3. Satellite-based monitoring to predict weather patterns and track crop conditions.

3. Support for Farmers

1. Rise of contract farming enabling small and marginal farmers to access modern inputs and credit.

2. Growth of agritech startups offering innovative solutions and better market opportunities.

4. Key Trends

1. Emphasis on sustainable farming practices and adoption of organic agriculture.

2. Increasing consumer demand for organic produce driven by health consciousness and environmental awareness.

3. Shift toward high-value crops like fruits, vegetables, and horticulture products for better returns.

5. Supply Chain Improvements

1. Development of rural infrastructure and cold storage facilities to reduce post-harvest losses.

2. Growth of food processing industries enhancing supply chains and market reach.

6. Future Outlook

1. Ongoing modernization and technology integration are expected to drive the industry's growth.

2. Supportive policies and investments will position the sector to address domestic food security needs and global market opportunities.

Agriculture Industry in India Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest agriculture industry in India size. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

Breakup by Subsectors:

1. Farming

2. Agriculture Equipment

3. Fertilizers

4. Pesticides

5. Warehousing

6. Cold Chains

7. Food Processing

8. Dairy Market

9. Floriculture

10. Apiculture

11. Sericulture

12. Seeds

13. Fisheries

14. Poultry

15. Animal Husbandry

16. Animal Feed

17. Bio-Agriculture Market

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key highlights of the Report:

1. Market Performance (2018-2023)

2. Market Outlook (2024-2032)

3. COVID-19 Impact on the Market

4. Porter’s Five Forces Analysis

5. Strategic Recommendations

6. Historical, Current and Future Market Trends

7. Market Drivers and Success Factors

8. SWOT Analysis

9. Structure of the Market

10. Value Chain Analysis

11. Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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