According to the latest report by IMARC Group, titled "Indian Farming Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the Indian farming market reached a value of INR 25,173 Billion in 2022. Farming is the cultivation of crops and raising animals for fuel, food, and other products. It can be done on a large commercial scale or a small scale, such as a home mini garden or a small farm. There are different types of farming, including commercial farming, which is done to sell products for profit, and subsistence farming, which is done to meet the basic requirements of the farmers and their families. It is an essential source of food and other products for individuals worldwide, and it plays a vital role in many world economies. It helps improve yields by maximizing production factors, such as equipment, labor, and soil, and avoiding using non-natural inputs, such as fertilizers, herbicides, and pesticides. It also aids to boosts productivity levels, improves the nutritional value of soil, and ensures financial sustainability.
Indian Farming Market Trends:
The market in India is primarily driven by the rapidly growing population. In line with this, the rising pressure on the food supply system is significantly contributing to the market growth. Furthermore, the growing utilization of modern technologies in agricultural farming is positively influencing the market. Apart from this, the proliferation of the Internet of Things (IoT) and advanced analytics are creating a positive outlook for the market. The IoT provides real-time data about environmental temperature and water content in the soil via sensors placed on the farm, which assists farmers in making informed decisions about harvesting times, crop market rate, and soil management, while addressing multiple challenges involved in the proper monitoring of crops. Moreover, the rapid adoption of technological innovations, such as vertical farming with smart designs to maximize yields and reduce waste, is offering numerous opportunities. Besides, heavy investments by the market players in advanced technologies, such as driverless tractors, guidance systems, and GPS sensing systems, are favoring the market. Additionally, the increasing initiatives undertaken by the Indian government to promote sustainable agriculture practices are expected to drive the market further. Some of the other factors contributing to the market include rapid urbanization, the rising demand for food, and the implementation of favorable government policies. On account of the factors above, the market is anticipated to reach a value of INR 45,577 Billion by 2028, exhibiting a CAGR of 10.3% during 2023-2028.
- On the basis of crop seasonality, the market has been categorized into Rabi, Kharif, and Zaid.
- Based on the crop type, the market has been classified into cereals, vegetables, fruits, plantation crops, spices, pulses, and others. Among these, plantation crops hold the leading market segment.
- Based on the application, the market has been segmented into fresh consumption, food processing, healthcare, feed industry, textiles, and others.
- Based on the distribution channel, the market has been categorized into self-consumption, traditional retail, business-to-business, modern retail, and others.
- On the basis of the region, the market has been divided into North India, South India, East India, and West India.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
|Base Year of the Analysis
||Million Metric Tons, INR Billion
||Crop Seasonality, Crop Type, Application, Distribution Channel, Region
||North India, South India, East India, West India
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