India Vertical Farming Market Segmented By Structure (Building Based Vertical Farms, Container Based Vertical Farms, and Rack Based Vertical Farms), By Growth Mechanics (Hydroponics, Aeroponics, and Aquaponics) By Application Type (Indoor and Outdoor), By End User (Retail, Food Service, Residential, and Institutional), By Region, Competition, Forecast and Opportunities, 2018- 2028
Published Date: October - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Vertical Farming Market Segmented By Structure (Building Based Vertical Farms, Container Based Vertical Farms, and Rack Based Vertical Farms), By Growth Mechanics (Hydroponics, Aeroponics, and Aquaponics) By Application Type (Indoor and Outdoor), By End User (Retail, Food Service, Residential, and Institutional), By Region, Competition, Forecast and Opportunities, 2018- 2028
India vertical farming market is expected to grow at a remarkable rate through 2028 by environmental & technological factors. Vertical farming is a modern method of agriculture where crops are grown in vertically stacked layers using artificial lighting and a controlled environment. India has been exploring the potential of vertical farming to increase food production and ensure food security.
In India, vertical farming is being explored as a solution to address several challenges faced by traditional agriculture, including land scarcity, climate variability, and water scarcity. Vertical farming systems can be set up in urban areas, making it possible to grow fresh produce in areas where there is limited space for traditional agriculture. Reducing the challenges faced by traditional farming results the growth of India vertical farming market.
Vertical farms in India typically use hydroponics or aeroponics systems, which allow plants to grow without soil. Hydroponic systems use a nutrient-rich solution to deliver nutrients directly to plant roots, while aeroponic systems mist plants with nutrient solutions. These systems allow for a more controlled environment and can produce higher yields compared to traditional farming methods.
Crops that can be grown in vertical farming in India are lettuce, spinach, kale, and herbs like basil & mint among others. These crops are typically grown in towers or shelves, with LED lights providing the necessary light spectrum for photosynthesis. In growing are the temperature and humidity controlled carefully to optimize the growth of plants.
One of the main benefits of vertical farming in India is that it allows for year-round production, regardless of weather conditions. This can help reduce the impact of climate variability on crop yields. Vertical farming also uses significantly less water compared to traditional farming methods, making it a more sustainable option for food production. Availability of crops round the year no matter what the climate and water availability is, the India vertical farming market is expected to grow.
Urbanization
Urbanization is one of the major factors that promote the growth of vertical farming in India. With a growing population and rapid urbanization, there is a rise in demand for fresh and healthy produce in urban areas. However, the availability of arable land in urban areas is limited, and traditional agriculture is not a viable option.
Vertical farming provides a solution to this problem by allowing the production of fresh produce in urban areas, using minimal space and resources. Vertical farms can be set up in buildings, warehouses, or even in shipping containers, making it possible to grow crops in the heart of the city.
According to Ministry of Agriculture, in
Urban vertical farming can also provide employment opportunities in urban areas, helping to reduce the rural-urban migration that often occurs due to lack of employment opportunities in rural areas.
Overall, urbanization promotes vertical farming in India by creating a demand for fresh and healthy produce in urban areas, and by providing a solution to the limited availability of arable land in cities. Due to which it is expected to the growth of India vertical farming market.
Water scarcity is one of the major challenge faces by India and agriculture is the largest consumer of water in the country. Traditional farming methods consume more water which results in depletion of ground water resources.
Vertical farming, on the other hand, uses up to 90% less water compared to traditional farming methods. This is because the water used in vertical farming is recycled and reused, reducing wastage. Vertical farming systems such as hydroponics and aeroponics use a nutrient-rich solution or mist to deliver water and nutrients to plant roots, reducing water consumption. So, decrease in water consumption for growing products Increases the growth of India vertical farming market.
As vertical farming requires less water, it is a more sustainable option for producing food in areas where water scarcity is greater. In India, there are many regions which experience water scarcity vertical farming provides a solution to the challenge of producing food while reducing water usage.
Vertical farming also allows production of food in areas where access to water is limited such as urban areas where there may be no access to ground water for traditional farming.
Vertical farming also allows for the efficient use of water by delivering water and nutrients directly to plant roots. This means that there is no water wastage due to run-off, which can be a problem with traditional farming methods.
In context, vertical farming in India provides a solution for the challenge to food production while reducing water consumption. This may anticipate the growth of India vertical farming market.
Technology Advancements
Technology advancements have played a significant role in promoting the growth of vertical farming in India. The use of technology in vertical farming has helped to improve the efficiency and sustainability of food production while reducing costs.
LED lights are energy-efficient and have made it possible to grow crops in vertical farms without relying on natural sunlight. The use of LED lights allows for year-round production of crops, making vertical farming more reliable and sustainable.
According to Ministry of Agriculture, in India, the vertical farming market share has increased by 24.6% in recent years because of advancements in the technology mentioned above.
Hydroponics and aeroponics are soil-less farming techniques that use nutrient-rich water or mist to deliver nutrients and water directly to plant roots. These techniques are more efficient than traditional farming methods and have been made possible by technological advancements.
The use of technology has also made vertical farming more accessible to small farmers and urban communities, promoting local food production, and reducing dependence on imported food. Hence, the dependence of imported for reduces production of food locally anticipated in the growth of India vertical farming market.
Vertical farming requires a significant initial investment in infrastructure and technology, which can be a barrier for small farmers and entrepreneurs. The cost of setting up a vertical farm can be higher than traditional farming methods.
Recent Developments
- In November 2021, the Indian
Institute of Technology (IIT) Delhi set up a vertical farm with the capacity to
grow up to 5,000 plants. The farm is equipped with advanced sensors and
automation systems to optimize crop growth and minimize resource usage.
- In February 2021, the Indian
startup, Clover Venture, announced plans to set up a 50,000 sq. ft vertical
farm in Bangalore. The farm is expected to have a production capacity of over
3,500 kg of leafy greens per month.
- In 2020, the Indian agtech
startup, Arya Collateral, announced plans to launch a vertical farming venture
to produce high-value crops, such as exotic fruits and herbs.
- Several state governments in
India have launched initiatives to promote vertical farming. For example, the
state government of Telangana has launched a scheme to provide financial
assistance to entrepreneurs interested in setting up vertical farms.
Market Segmentation
The India vertical farming market can be segmented by structure type, growth mechanics, application type, end user, and region. Based on structure, the India vertical farming market can be segmented into building based vertical farms, container based vertical farms, and rack based vertical farms. Based on growth mechanics, the India vertical farming market can be segmented into hydroponics, aeroponics, and aquaponics. Based on application, the market can be grouped into indoor and outdoor. Based on end user, the market is segmented into retail, food service, residential, and institutional.
Market Players
Sky greens Pvt. Ltd., Edible routes Pvt. Ltd., Future Farms Pvt. Ltd, Letcetra Agritech Pvt. Ltd., and Living Greens Organics are some of the key players in India vertical farming.
|
Attribute |
Details |
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Base
Year |
2022 |
|
Historic
Data |
2018 – 2022 |
|
Estimated
Year |
2023 |
|
Forecast
Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue in USD Million, and CAGR for 2018-2023 and 2024-2028 |
|
Report
Coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
Covered |
Structure
Type Growth
Type Application Region |
|
Regional
Scope |
East
India, West India, North India, and South India |
|
Key
Companies Profiled |
Sky greens pvt. Ltd. (India), Edible
routes Pvt. Ltd. (India), Future Farms Pvt. Ltd (India), Letcetra Agritech
Pvt. Ltd. (India)., Living Greens Organics |
|
Customization
Scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing
and Purchase Options |
Avail customized purchase options to meet your exact research
needs. Explore purchase options |
|
Delivery
Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request) |
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