Project Report For
The project report for Pesticides is as follows.
The Indian pesticide industry was valued INR 197 billion in 2018. The demand has been further anticipated to reach INR 316 billion by 2024, rising at CAGR 8.1 per cent between 2019 and 2024. Pesticides are chemicals or mixtures of chemicals designed to avoid, kill, repel or reduce any insect. Pesticides are the very last application into an agricultural activity and are used to avoid pests such as insects , fungi, weeds, etc. from spoiling crops, thus enhancing agricultural productivity.
The importance of pesticides has increased over the last few years, precipitated because of the need to drastically increase agricultural production with the need to maintain optimal food supply for nation’s growing population. In India, pests and diseases consume on average about 20-25 % of the total food grown.
Market potential & Strategy
Total arable land usable per capita has declined in recent years as a consequence of rising urbanization levels and is projected to decline more in the near future. Led by expanding population levels, food consumption is projected to start to increase in the upcoming years. We anticipate pesticides to play an important role in growing the average yield per hectare of crops. Government measures to provide access to credit to farmers in rural regions are projected to provide a major boost to the pesticides sector. Increased availability and low interest rates of farm loans are expected to motivate farmers using more pesticides to boost crop yields.
Government and private programmes are growing understanding among customers of pesticides. Proposals to inform farmers on the proper use of pesticides in terms of amount, correct application technique and suitable chemicals to use for defined pest problems, etc. are nearly complete in different parts of the world.
In India, pesticide market shares are considerably lower than other large nations, like the US and China. This indicates that the pesticide market is still relatively unencumbered with a tremendous opportunity for possible development.
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