Market assessment & new entrant strategy for ethyl formate as a fumigant in post-harvesting

Abstract

India is the second most populated country in the world and according to the 2019 revision of the World Population Prospects, population stood at 1.35 Billon [1][2]. UN estimates indicates India is going to overtake China as the most populous country by 2025-30. Decadal growth rate in case of India was 17.7 % compared to 21.5 % in the previous decade [3]. With increasing population growth, demand for food products has also seen an upward trend indicating the importance of agriculture in the economy and supply chain infrastructure to deliver the produce to the end consumer. India registered GDP growth of 6.8% in 2018-19 and share of agriculture sector in total GVA stands at 16.1 per cent in 2018-19. The growth rate in Gross Value Added (GVA) by the agriculture and allied sectors stands at 2.9 per cent in 2018-19 with total production of food grains during 2018-19 is estimated at 285 million tonnes. India is the world's largest producer of milk, pulses and jute, and ranks as the second largest producer of rice, wheat, sugarcane, groundnut, vegetables, fruit and cotton. Agriculture and allied sectors play an important role in the economy through employment, income and food security [4][5].