According to the latest report by IMARC Group, titled “India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India vertical farming market is expected to grow at a CAGR of 25.4% during 2023-2028. Vertical farming is a non-traditional agricultural technique involving growing food and medicinal plants in vertically stacked layers. It employs various methods, such as hydroponics, aeroponics, and aquaponics, to artificially control temperature, light, and humidity and produce the perfect micro-climate for farming. Vertical farming is widely used to grow crops, such as lettuces, chards, collard greens, kales, chives, mint, basil, and small woody herbs. It is an eco-friendly farming technique that saves space, lowers energy consumption, minimizes water usage, mitigates transportation costs, and reduces manual labor. As compared to traditional farming, vertical farming can produce crops throughout the year in a controlled space.
India Vertical Farming Market Trends:
The increasing demand for sustainable farming to grow organic and nutritious food crops is one of the key factors driving the market growth. Vertical farming is widely adopted to cultivate crops as it requires less water and mitigates the use of chemicals and the need for massive farming equipment that runs on fossil fuels. In addition, the rising scarcity of arable land, coupled with escalating requirements for stabilized crop production to meet the increasing food demands, is favoring the market growth. Furthermore, the Government of India (GOI) is promoting vertical farming by providing subsidies to farmers through the vertical garden scheme launched under the Mission of Integrated Development of Horticulture (MIDH), which, in turn, is providing a considerable boost to the market growth. Apart from this, the rising adoption of the Internet of Things (IoT) to develop advanced monitoring systems that track the physical conditions of the crops and offer remote functions for operating water systems and light-emitting diode (LED) lights is creating a positive outlook for the market. Other factors, including the integration of robotics and artificial intelligence (AI) to track the development of plants and the rising environmental concerns associated with traditional farming practices, are anticipated to drive the market growth.
- On the basis of the component, the market has been divided into irrigation component, lighting, sensor, climate control, building material (glass and plastic greenhouse), and others.
- Based on the structure, the market has been bifurcated into building- and container-based vertical farms.
- On the basis of the growth mechanism, the market has been categorized into hydroponics, aeroponics, and aquaponics.
- Based on the application, the market has been bifurcated into indoor and outdoor.
- On a regional basis, the market has been categorized into North, West and Central, South, and East India.
- The competitive landscape of the industry has also been examined along with the profiles of some key players.
|Base Year of the Analysis
||Component, Structure, Growth Mechanism, Application, Region
||North India, West and Central India, South India, East India
||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
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800