September 27, 2023


Published July 4, 2023

IMARC Group, a leading market research company, has recently releases report titled “Agriculture Industry in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the agriculture industry in India size reached INR 80,550 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 158,991 Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028.

Agriculture is the practice of cultivating plants and rearing animals for food, fibre, medicinal plants, and other products used to sustain and enhance human life. This wide-reaching industry plays a crucial role in the world economy and is the backbone of the rural economy in many parts of the world. Agriculture is characterized by a diverse range of farming systems, from smallholder and family farms to industrial farming. It encompasses various sub-sectors, including crop production, livestock farming, forestry, and fishing. Modern agriculture relies heavily on technology and scientific methods of farming, such as precision farming, genetically modified crops, and mechanized tools. Key features of agriculture include its seasonality, dependence on weather and climate conditions, and susceptibility to market and price fluctuations. Sustainable agriculture focuses on producing food while preserving the environment, maintaining economic profitability, and promoting social and economic equity. Organic farming, another feature, excludes the use of synthetic fertilizers, pesticides, growth regulators, and livestock feed additives. Agriculture finds its application in numerous industries such as food and beverage, pharmaceutical and energy.

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Agriculture Industry in India Trends:

  • The increasing global population is driving the demand for more food production, thereby boosting the agriculture industry. In addition to this, the rising awareness about healthy eating is promoting organic farming and stimulating the market. Moreover, technological advancements in farming techniques and machinery are enhancing productivity and driving the growth of the industry. The growing demand for biofuels, sourced from agricultural products, is stimulating the market growth.
  • The trend towards sustainable farming practices to protect the environment is propelling the growth of the market. The growing consumption of animal-based products is driving the demand for livestock farming. The expansion of e-commerce platforms for agricultural products is promoting market growth. The need for crop diversification to manage pests and diseases is driving market growth. Urban farming practices, like vertical farming, are gaining traction and driving the market.
  • The extensive investment in research and development in agriculture is fueling market growth. The rise in demand for medicinal plants from the pharmaceutical industry is propelling the market growth. The introduction of genetically modified crops to enhance yield and resist pests is driving the industry.
  • The trend of precision farming for resource optimization is boosting the market. The increasing demand for fibres and raw materials from the textile industry is stimulating the agriculture market. The growing demand for packaged and ready-to-eat food is escalating the demand for agricultural products.
  • The rising need for sustainable forest management for timber production is propelling the industry. The global shift towards plant-based diets is driving the growth of the agriculture industry. The increasing use of agricultural waste for power generation is also contributing to the growth of the agriculture market. Other factors such as government initiatives and subsidies to support farmers and rising disposable incomes in developing regions are further driving the growth of the market across the country.

Who are the key players operating in the industry?

The report covers the major market players including:

The competitive landscape of the agriculture industry in India has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these Players Include:

  • DuPont India Private Limited
  • Rallis India Limited
  • Nuziveedu Seeds Limited
  • Godrej Agrovet Limited
  • Nestlé India Limited
  • Advanta (UPL Limited)
  • Monsanto Company
  • Parle Products Private Limited
  • Britannia Industries Limited
  • REI Agro Limited
  • Indian Farmers Fertiliser Cooperative (IFFCO) Limited

Market Summary:

Based on the subsectors, the market has been segmented into farming, agriculture equipment, fertilizers, pesticides, warehousing, cold chains, food processing, dairy market, floriculture, apiculture, sericulture, seeds, fisheries, poultry, animal husbandry, animal feed, and bio-agriculture market.

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