India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5858
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Market Overview:

The India vertical farming market is expected to exhibit a growth rate (CAGR) of 25.4% during 2023-2028.

Vertical farming refers to the process of planting and growing crops vertically. It involves the use of various components, such as lighting, irrigation, sensor, climate control and building material. Butterhead, winter boar, chives, mint, small woody herbs, red leaf, romaine, Tuscan and basil are some of the crops grown through vertical farming. It is a nontraditional method that assists in high yield by causing negligible effect on climate, reducing the amount of pesticide usage, and consuming less water and area requirement. Due to these properties, vertical farming is considered a reliable and environmentally friendly solution, that is also highly energy-efficient and reduces transport costs.

India Vertical Farming Market Trends:

The growing need for independent farming practices across the country is creating a positive outlook for the market growth. Vertical farming is widely adopted as it requires less space and provides higher productivity. Additionally, the increasing product utilization to produce organic and good quality nutritious food as it assists in creating a stable and sustainable year-round food supply is contributing to the market growth. Apart from this, numerous technological advancements, such as the integration of the Internet of Things (IoT) with mobile and drones to provide real-time information on crop health, are providing an impetus to the market growth. The increasing demand for vertical farming can also be attributed to the rising environmental consciousness amongst farmers as it reduces the amount of land and water needed for its production, thus positively impacting the market growth. Other factors, including the scarcity of land for farming and the increasing demand for stabilized crop production irrespective of climatic changes, are anticipated to drive the market further toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India vertical farming market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on component, structure, growth mechanism and application.

Breakup by Component:

  • Irrigation Component
  • Lighting
  • Sensor
  • Climate Control
  • Building Material
    • Glass Greenhouse
    • Plastic Greenhouse
  • Others

Breakup by Structure:

  • Building-based Vertical Farms
  • Container-based Vertical Farms

Breakup by Growth Mechanism:

  • Hydroponics
  • Aeroponics
  • Aquaponics

Breakup by Application:

  • Indoor
  • Outdoor

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Million
Segment Coverage Component, Structure, Growth Mechanism, Application, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

We expect the India vertical farming market to exhibit a CAGR of 25.4% during 2023-2028.

The rising environmental consciousness has led to the increasing adoption of vertical farming as it reduces land and water requirement, is primarily driving the India vertical farming market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation resulting in temporary halt in various agricultural activities, thereby negatively impacting the vertical farming market in India.

Based on the component, the India vertical farming market has been segmented into irrigation component, lighting, sensor, climate control, building material, and others. Currently, lighting holds the majority of the total market share.

Based on the structure, the India vertical farming market can be divided into building-based vertical farms and container-based vertical farms, where container-based vertical farms exhibit a clear dominance in the market.

Based on the growth mechanism, the India vertical farming market has been categorized into hydroponics, aeroponics, and aquaponics. Among these, hydroponics currently account for the majority of the total market share.

Based on the application, the India vertical farming market can be segregated into indoor and outdoor. Currently, indoor holds the largest market share.

On a regional level, the market has been classified into North India, West and Central India, South India and East India, where South India currently dominates the India vertical farming market.

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India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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