Agriculture is an important part of the Indian economy in terms of both its contribution to the gross domestic product and the source of jobs for millions of people across India.The IMARC Group recently published a report that provides an overview of the Indian agriculture business and its various segments and sub-segments.
The list of segments examined by the report is as follows:
Agriculture: Agriculture includes planting crops, grains, vegetables, fruits, legumes and spices. It is currently the largest part of Indian agriculture.
Agriculture Equipment: In recent years, the penetration of tractors and associated machinery has remained relatively low in India, despite increasing expansion. This should allow plenty of room for business penetration.
Fertilizers: Fertilizer promotion through TV, radio and customized rural seminars is predicted to enhance fertilizer usage in the future years.
Pesticides: According to estimates, plant losses due to pesticide non-use in India currently account for about 20% to 30% of total output.
The agricultural warehouse sector: Is currently smaller in size when compared to the industrial warehouse sector, but this is expected to change (excluding cold chains). Over the next five years, this segment is predicted to increase at a compound annual growth rate (CAGR) of approximately 10%.
Cold Chains: Despite the fact that cold chains are expanding rapidly, India’s infrastructure for maintaining a cold chain lags far behind that of wealthier countries. The lack of adequate cold chain facilities results in a significant amount of total agricultural production being wasted every year.
Food processing: Urban population growth and growing employment lead to a rapidly-paced market. Processed foods such as ready-to-eat and snacks, especially in cities, are becoming quite popular.
Dairy: Increased salaries and expanding health and wellness trends are likely to drive demand for dairy products across India. Historically, dairy products like milk and curd have been linked to health and wellness. Value-added products like low-fat and fortified milk products are expected to increase strongly in future years.
Floriculture: Has seen solid expansion in recent years, owing to strong growth both in exports and in domestic demand. The metros and the larger Indian towns are now major flower consumers in India. As the urbanization and influence of western cultures increases, it becomes popular “to say it with flowers” on a number of occasions, such as Valentine’s day, birthdays, festival days, anniversaries, marriages, goodbye parties, religious rituals, etc.
Per capita, honey consumption remains low in India compared with a number of developed nations, mainly due to a lack of understanding about the benefits of honey in diets and the fact that Indian culinary patterns do not require the use of honey to a large extent. Beeswax, the other primary bee colony product, is used largely in the manufacture of cosmetics, soaps, and medicines.
Sericulture: Refers to the technique of raising silkworms for silk manufacturing. Besides being the second-largest producer of raw silk in the world, India is also the second-largest user of raw silk and silk textiles.
Seeds: India is one of the world’s top seed producers and consumers. The Indian seed industry has grown parallel to the agriculture industry’s growth. Although a few public seed firms dominated this industry before, private participation and R & D in this area have greatly increased with the relaxation of government constraints and the implementation of a new seed strategy.
Fisheries: the fishing industry is made up of inland fish, seafood, shrimp and scampi. Increased per capita use, the rise of organized food retail, and knowledge of the health advantages of fish are some of the aspects that this market is likely to drive in the years ahead.
The poultry sector: Has seen a dramatic structural and operating transition in the last few decades, which has turned ordinary backyard operations into an important industry with a large number of integrated operators with successful large-scale contractual poultry farming.
Animal husbandry: Animal husbandry refers to the practice of animal breeding and livestock breeding. Similar to other agricultural industries, the market is highly disorganized. Live animals, including buffaloes, goats, sheep, pigs, etc., are usually sold during weekly livestock markets. The animals are either sold separately (bovine, buffalo) or bundled into lots 10-20 (buffalo, sheep and goats).
Animal feed: The animal feed market is divided into three categories: poultry feed, livestock feed, and aqua feed.Some of the drivers that drive the market nowadays include the growth of livestock stocks, growth in the dairy and livestock sector, increased export demand, etc.
Bio-Agriculture: Transgenic crops, biopesticides and bio-fertilizers may be divided into the bio-agriculture market. Currently, the majority of the entire market demand is for biofertilizers.
To gain a better understanding of Indian agriculture, you can download the entire study titled “The State of Indian Agriculture.”This paper is the result of thorough research on Indian agriculture and builds on an extensive analysis of all the main agricultural sectors in India.