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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors.
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FY2016 – FY2026 INDIA CROP PROTECTION CHEMICALS MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Crop Protection Chemicals India crop protection chemicals market is expected to grow at a substantial CAGR during the forecast period. The India crop protection chemicals market is driven by growing awareness pertaining to various soil patterns as well as climate uncertainties in the country. Increasing emphasis on security of food has resulted in adoption of new techniques to enhance crop yield, because of which, the market is anticipated to rev up during the forecast period. Moreover, stringent guidelines for the utilization of persistent organic pollutants shave is boosting the use of environment-friendly insecticides, which in turn is expected to positively influence the growth of market over the next few years. Market Segmentation TYPE MODE OF APPLICATION Year Range Foliar Spray Seed Treatment Soil Treatment; Others Herbicide Insecticide Fungicide Plant Growth Regulator Others • • • • Review Period • • FY2016 – FY2019 • • • REGION Base Year ORIGIN North South East West • FY2020 Synthetic Biopesticides • • Estimated Year • • FY2021 • FORM Liquid Solid • Forecast Period • FY2022 – FY2026 2
Table of Contents Contents 1. Product Overview 2. Research Methodology 3. Impact of COVID-19 on India Crop Protection Chemicals Market 4. Executive Summary 5. Voice of Customer 6. India Crop Protection Chemicals Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast By Type (Herbicide; Insecticide; Fungicide; Plant Growth Regulator and Others) 6.2.1. 6.2.2. By Origin (Synthetic Vs. Biopesticides) 6.2.3. By Form (Liquid and Solid) By Mode of Application (Foliar Spray; Seed Treatment; Soil Treatment; and Others) 6.2.4. 6.2.5. By Company (FY2020) 6.2.6. By Region 6.3. Product Market Map 7. India Herbicide Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast By Type (Glyphosate, 2 4-D, Dicamba & Others) 7.2.1. 3
Table of Contents Contents 7.2.2. By Crop (Cotton, Rice, Vegetables, Plantation, Wheat, Pulses & Others) 7.2.3. By Region 7.2.4. By Company 8. India Insecticide Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast By Type (Organophosphor, Organochlorine, Carbamates, Pyrethroids & Others) 8.2.1. 8.2.2. By Crop (Cotton, Rice, Vegetables, Plantation, Wheat, Pulses & Others) 8.2.3. By Region 8.2.4. By Company 9. India Fungicide Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast By Type (Dithiocarbamates, Phenylamides, Strobilurins & Others) 9.2.1. 9.2.2. By Crop (Cotton, Rice, Vegetables, Plantation, Wheat, Pulses & Others) 9.2.3. By Region 9.2.4. By Company 10. India Plant Growth Regulator Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value & Volume 4
Table of Contents Contents 10.2. Market Share & Forecast By Type (Auxins, Gibberellins, Cytokinins & Others) 10.2.1. 10.2.2. By Crop (Cotton, Rice, Vegetables, Plantation, Wheat, Pulses & Others) By Region 10.2.3. 10.2.4. By Company 11. Market Dynamics Drivers/Opportunities 11.1. Challenges/Restraints 11.2. 12. Market Trends & Developments 13. Policy and Regulatory Landscape 14. Competitive Landscape Company Profiles (Top 10 Companies) 14.1. 15. India Economic Profile 16. Strategic Recommendations 17. About Us & Disclaimer 5
RESEARCH METHODOLOGY
Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top players in the India crop protection chemicals market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India crop protection chemicals market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 7
Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India crop protection chemicals market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing need for food security and surging popularity of bio-based crop protection chemical products, among others. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India crop protection chemicals market. Methodology Followed for Calculation of Market Size: Market Size by Value & Volume: Market size, in terms of value & volume, for the year FY2020 was calculated based on information collected through • exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as manufacturers & suppliers, channel partners, end users, industry experts, and other industry participants. The team interviewed more than 40 – 50 manufacturers & suppliers, 180 – 200 end users, and 15 – 20 industry experts and other value chain • stakeholders in the India crop protection chemicals market to obtain the overall market size from FY2016 to FY2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during FY2016-FY2020. 8
Research Methodology Respondents were asked about the current and future market growth rates, market by type, by origin, by form, by mode of application, by region • and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by type, by origin, by form, by mode of application, by region and by company were calculated based on the responses received • through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of crop protection chemicals market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in • SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India crop • protection chemicals market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 9
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. Partial List of Companies Interviewed Key Secondary Sources BASF India Ltd. World Bank ▪ ▪ Dow Chemical India Private Ltd. TechSci Research Proprietary Database & Knowledge ▪ ▪ E.I. du Pont India Private Limited Repository ▪ Sumitomo Chemical India Company Annual Reports ▪ ▪ Syngenta India Ltd. Industry Magazines ▪ ▪ Bayer Cropscience Ltd. Industry Reports ▪ ▪ FMC India Pvt Ltd Statista ▪ ▪ Nufarm Agri Science Pvt. Ltd. News Dailies ▪ ▪ Valent Biosciences Credible Paid Databases ▪ ▪ Cheminova India Ltd. ▪ 10
Industry Brief According to TechSci Research report, “India Crop Protection Chemicals Market By Type (Herbicides; Insecticides; Fungicides; Plant Growth Regulators; and Others), By Origin (Synthetic Vs. Biopesticides), By Form (Liquid and Solid), By Mode of Application (Foliar Spray; Seed Treatment; Soil Treatment; and Others), By Region, Forecast & Opportunities, 2025”, the India crop protection chemicals market is expected to grow at a substantial rate during the forecast period on account of decreasing arable land. Additionally, increasing production of cereals, grains, fruits & vegetables, in the country, owing to surging food demand, is expected to have a positive impact on the growth of market. Furthermore, rising implementation of advanced farming techniques is further propelling the market growth in the country. Moreover, continuously rising population coupled with resultant increase in the demand for food, is anticipated to bolster the growth of market through 2025. Growing popularity of less toxic and ecofriendly crop protection chemicals such as biopesticides, organic fertilizers, is further anticipated to aid the market growth in the years to come. However, there are certain factors that might act as major impediments to the growth of India crop protection chemicals market through 2025 such as growing prevalence of health hazards by using crop protection chemicals. Moreover, lack of awareness regarding dosage along with proper application of crop protection chemicals might also slow down the growth of market in upcoming years. The India crop protection chemicals market is segmented based on type, origin, form, mode of application, company and region. Based on mode of application, the market can be segmented into foliar spray, seed treatment, soil treatment and others. Out of these, the foliar spray method of application dominated the market until 2019 and is further anticipated to maintain its dominance during the forecast period as well. This dominance can be attributed to the fact that foliar fertilization of crops offers certain advantages when compared to soil-applied fertilizers. This is because the nutrients are applied and taken-up directly by their target organs, which provides a specific and rapid response. In addition to this, the soil with its chemical, physical and biological complexities acts as a barrier and a buffering medium, because of which, the foliar spray method is projected to grow in the years to come. In terms of type, the market can be categorized into herbicides, insecticides, fungicides, plant growth regulators and others. Among these, the insecticides segment is expected to register significant growth in the market over the next few years, which can be accredited to their extensive use during staple crop cultivation as crops are highly attacked by insects. BASF India Ltd., Dow Chemical India Private Ltd., E.I. du Pont India Private Limited, Sumitomo Chemical India, Syngenta India Ltd., Bayer Cropscience Ltd., FMC India Pvt Ltd, Nufarm Agri Science Pvt. Ltd., Valent Biosciences, Cheminova India Ltd and others are some of the leading players operating in India crop protection chemicals market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share and expand their geographic reach. “India crop protection chemicals market is expected witness significant growth until 2025, which is attributable to continuous advancements in the development of crop protection techniques against pests, insects, weeds, etc. Additionally, key manufacturers are also setting up their manufacturing units in the country and focusing more on research and developmental activities, which is expected to positively impact the market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 11
Sample Data - Snapshot India Crop Protection Chemicals Market Size, By Value (USD Million) & By Volume (KT), FY2016–FY2026F 15.00 110.00 14.00 100.00 13.00 90.00 12.00 80.00 11.00 70.00 10.00 60.00 9.00 50.00 8.00 40.00 7.00 30.00 6.00 20.00 5.00 10.00 CAGR By Value & Volume YY% CAGR By Value & Volume XX% FY2016 FY2020 FY2021E FY2026F By Value (USD Million) By Volume (KT) India Crop Protection Chemicals Market Share, By Type, By Value, FY2016–FY2026F Herbicide Insecticide Fungicide Plant Growth Regulator Others 20% 20% 20% 20% 20% FY2026F 20% 20% 20% 20% 20% FY2025F 20% 20% 20% 20% 20% FY2024F 20% 20% 20% 20% 20% FY2023F 20% 20% 20% 20% 20% FY2022F 20% 20% 20% 20% 20% FY2021E 20% 20% 20% 20% 20% FY2020 20% 20% 20% 20% 20% FY2019 20% 20% 20% 20% 20% FY2018 20% 20% 20% 20% 20% FY2017 20% 20% 20% 20% 20% FY2016 India Insecticide Market Share, By Crop, By Value, FY2016–FY2026F Cotton Rice Vegetables Plantation Wheat Pulses Others 20% 20% 10% 20% 10% 10% 10% FY2026F 20% 20% 10% 20% 10% 10% 10% FY2025F 20% 20% 10% 20% 10% 10% 10% FY2024F 20% 20% 10% 20% 10% 10% 10% FY2023F 20% 20% 10% 20% 10% 10% 10% FY2022F 20% 20% 10% 20% 10% 10% 10% FY2021E 20% 20% 10% 20% 10% 10% 10% FY2020 20% 20% 10% 20% 10% 10% 10% FY2019 20% 20% 10% 20% 10% 10% 10% FY2018 20% 20% 10% 20% 10% 10% 10% FY2017 20% 20% 10% 20% 10% 10% 10% FY2016 12
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