IMARC Group, one of the world's leading research and advisory firms, finds in its new report “Indian Agriculture Market Report & Forecasts 2012-2017” that the consumption of fertilizers in India is currently undergoing rapid growth. Finding’s from the report suggest that driven by factors such as increasing rural incomes, availability of farm credit, contract farming, public/private awareness campaigns etc., the consumption volume of fertilizers in India grew at a CAGR of 7.6% during 2005-06 - 2011-12.
The report also finds that despite a strong growth in recent years, the average intensity of fertilizer use in India remains very low compared to other countries. The use of fertilizers is also highly skewed, with wide inter-regional, inter-state, and inter-district variations. Findings from the report suggested that the intensity has generally been higher in the northern and southern regions and lower in the eastern and western regions.
According to the report, manufacturers in the Indian fertilizer market can be divided into three sectors - public, private and cooperative. The private sector currently dominates this market accounting for more than 50% of the total installed production capacity. The top fertilizer companies in India currently include Krishak Bharti Cooperative Limited (KRIBHCO), Corromandel Fertilizers, National Fertilizers Limited, Rashtriya Chemicals & Fertilizers Ltd. (RCF), Chambal Fertilizers, Gujarat State Chemicals & Fertilizers Limited, Nagarjuna Fertilizers & Chemicals Limited etc.
IMARC’s new report entitled “Indian Agriculture Market Report & Forecast: 2012-2017” provides an analytical and statistical insight into the agriculture industry along with its various segments and sub-segments. The study that has been undertaken using both desk-based and qualitative primary research has analyzed various aspects and provides a comprehensive understanding of the Indian agriculture market. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are looking to foray into the Indian agriculture market in some form or the other.