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.
One of the benefits of urban vertical farming is the
reduced dependence on food transported from rural areas, which can be costly
and environmentally damaging. Vertical farms can produce fresh produce
year-round, reducing the need for food to be transported long distances. This
also helps to reduce the carbon footprint associated with food transportation. According
to Ministry of Agriculture, in past years, the urbanization rate of
1.34% in 2021 has increased by 1.5% year-on-year basis. Since 2010-2021 the
urbanization increased by 19.6%.
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
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.
Monitoring systems in vertical farms use sensors to collect
data on environmental conditions, including temperature, humidity, and light
intensity. This data can be used to optimize plant growth, reduce water
consumption, and improve crop yields. 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.
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Attribute
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Details
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Base
Year
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2022
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Historic
Data
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2018 – 2022
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in USD Million, and CAGR for 2018-2023 and 2024-2028
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Report
Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments
Covered
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Structure
Type
Growth
Type
Application
Region
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Regional
Scope
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East
India, West India, North India, and South India
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Key
Companies Profiled
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Sky greens pvt. Ltd. (India), Edible
routes Pvt. Ltd. (India), Future Farms Pvt. Ltd (India), Letcetra Agritech
Pvt. Ltd. (India)., Living Greens Organics
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Customization
Scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
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Pricing
and Purchase Options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery
Format
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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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Report Scope:
In this report, the India vertical farming market has been segmented
into the following categories, in addition to the industry trends which have
also been detailed below:
·
India Vertical Farming Market, Structure:
o Building Based Vertical Farms
o Container Based Vertical Farms
o Rack Based Vertical Farms
·
India Vertical Farming Market, By Growth Mechanics:
o Hydroponics
o Aeroponics
o Aquaponics
·
India Vertical Farming Market, By Application:
o Indoor
o Outdoor
·
India Vertical Farming Market, By End User:
o Retail
o Food Service
o Residential
o Institutional
·
India Vertical Farming Market, By Region:
o East India
o West India
o North India
o South India
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present India vertical farming market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
India vertical farming market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]