India Neem Coated Urea Market to be Dominated by Food Crops Through 2028
Growing demand from agriculture sector is expected to drive
the growth of India Neem Coated Urea Market in the forecast period, 2024-2028.
According to TechSci Research
report, “India Neem
Coated Urea Market - By Region, Competition Forecast and Opportunities, 2018-2028”,
India Neem Coated Urea market is expected to grow
at an impressive rate during the forecast period on account of growing demand
for finding alternatives to chemical fertilizers. Growing environmental
awareness and need to adopt sustainable farming approaches is expected to
support the growth of India neem coated urea market.
The introduction of neem
coated urea has reduced the use of chemicals in agriculture practices and has
significantly increased the crop yield. This has also reduced the diversion of
urea for non-agricultural purposes. Additionally, the introduction of neem
coated urea has significantly improved soil health, reduced the incidences of
pest & disease attacks along with improving the overall crop yield, thereby
supporting the growth of neem coated urea market in India.
However, development of
novel products such as nano urea, nano DAP, among others can slow down the
growth of India neem coated urea market. Additionally, higher costs of neem
coated urea as compared to the traditional urea further hampers the market
growth.
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India Neem Coated Urea market
is segmented based on end
use, sales
channel, and region. Based on end use, the market can be categorized into food crops,
cash crops, horticulture crops, plantation crops and others. The food crops segment
is expected to hold the largest market share in the projected year. Owing to
growing population the demand of the food is going to rise, in order to address
the food needs of growing population and produce large volumes of crops, the
demand of Neem Coated Urea is expected to drastically increase in the coming
years.
Based on sales channel, the
market can be segmented into direct sales, distributor/suppliers, and online.
The distributors/supplier’s segment is expected to hold the largest market
share in the forecast period. This can be ascribed to the vastly expanded
network across the countries on which farmer trust.
Major companies operating in India
Neem Coated Urea market are:
- Indian Farmers Fertiliser Cooperative Limited
- Krishak Bharati Cooperative Limited
- National Fertilizers Limited
- Mangalore Chemicals and Fertilizers Limited
- Krishna Agro Bio Products
- Gujarat State Fertilizers
- Uttam Phosphates Pvt. Ltd.
- Indorama India Private Limited
- Yara Fertilisers India Pvt. Ltd
- Rashtriya Chemicals & Fertilizers Ltd
National Fertilizer Limited is
one of the leading players operating in the India neem coated urea market.
National Fertilizer Limited produced around 3,726,737 metric tonnes of neem coated
urea in the year 2019-2020. Out of this, neem coated urea produced at Nangal
plant was around 5,74,900 metric tonnes and 5,62,453 metric tonnes at Bhatinda
plant. Similarly, in Panipat plant, the amount of neem coated urea produced
accounted to be around 5,52,354 metric tonnes and 2,037,030 metric tonnes at
Vijaipur plant.
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“The North region is expected
to dominate India's Neem Coated Urea Market in the forecast period due to the increasing
agricultural activities and growing demand of neem coated urea in the region.
Various government initiatives like Pradhan Mantri Krishi Sinchai Yojana, Credit
facility for farmers and subsidiaries on fertilizers are growing to create
lucrative opportunities for the market growth." said Mr. Karan Chechi, Research
Director with TechSci research, a research based global management consulting
firm.
“India Neem
Coated Urea Market- Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By
End Use (Food Crops, Cash Crops, Horticulture Crops, Plantation Crops &
Others), By Distribution Channel (Direct Sales, Distributors/Suppliers, Online),
By Region, Competition, Forecast and Opportunities, 2028 has evaluated the future
growth potential of India Neem Coated Urea Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Neem Coated Urea market.
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