Growing demand from the agriculture sector is expected to drive the growth of India’s Neem Coated Urea Market in the forecast period, 2024-2028. According to TechSci Research report, “Indian 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.
The Important Elements of India Neem Coated Urea Market
Growing environmental awareness and the need to adopt sustainable farming approaches are expected to support the growth of the Indian neem-coated urea market.
The introduction of neem-coated urea has reduced the use of chemicals in agriculture practices and has significantly increased 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, the development of novel products such as nano urea, and nano DAP, among others can slow down the growth of Indian neem coated urea market. Additionally, higher costs of neem-coated urea as compared to 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 the growing population the demand for food is going to rise, in order to address the food needs of a growing population and produce large volumes of crops, the demand for Neem Coated Urea is expected to drastically increase in the coming years.
Based on sales channels, the market can be segmented into direct sales, distributor/suppliers, and online. The distributors/supplier 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 of that farmer’s 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 the Nangal plant was around 5,74,900 metric tonnes, and 5,62,453 metric tonnes at the Bhatinda plant. Similarly, in the 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 the 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 for 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.
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“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 Indian 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 make sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Indian Neem Coated Urea market.
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