05/29/2012 | Editor: Dominik Stephan
Crop protection and agrochemicals face huge demands in Asia, where the emrging markets and a growing population drive the need for these products. Not only foreign, but also domestic industries profit from this development.
Mumbai/India – The new report titled "Asia Crop Protection Industry Outlook to 2016 - The Next Hub for Agrochemical Sales” by AM Mindpower suggests the crop protection industry in Asia has grown remarkably over the past few years due to the increasing population and government initiatives to support and increase the agricultural production to meet the requirement for food products in the region. The crop protection market in Asia has grown at a CAGR of 8.2 per cent.
The market in India has grown at a CAGR of 3.1% from the period FY'2006-FY'2011. The market in India is majorly tapped by the generic products. The consumption of crop protection products in India has been majorly concentrated in the states such as Uttar Pradesh, Punjab, Maharashtra and Haryana. Uttar Pradesh is the largest consumer of crop protection chemicals due to larger agricultural area and higher agricultural production. Punjab is one of the largest agricultural states in India.
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