In 2023, India's import of fungicides stood at an estimated 10.328 million kilograms. The forecasted data indicates a consistent year-on-year growth in imports through to 2028, with values increasing from 10.704 million kilograms in 2024 to 12.14 million kilograms by 2028. The annual growth rate is approximately 3.95%, reflecting steady demand growth. Over five years, the compound annual growth rate (CAGR) is calculated to approach 3.81%, showing a robust upward trend in fungicide imports.
Future trends to watch for:
- Increasing domestic agricultural activity and diverse cropping patterns driving demand for fungicides.
- Potential regulatory changes impacting import tariffs or use of specific fungicides.
- Technological advancements in crop protection products influencing import volumes.
- Environmental and health concerns prompting shifts towards eco-friendly alternatives.
