At CAGR of 26.93%, India Vertical Farming Market Research Report 2022-2027

IMARC Group's latest research report, titled "India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The India vertical farming market is expected to exhibit a CAGR of 26.93% during 2022-2027.

Vertical farming is a technique of processing food in vertically stacked layers, used factory, or shipping container. Modern vertical farming employs indoor farming methods and controlled-environment agriculture (CEA) technologies to control all environmental conditions. It has enabled small land to be utilized for more production. This farming is a nontraditional method of crop cultivation that enables easy harvesting, a negligible effect of climate, high yield, minimal pesticide usage, less area requirement, and less water consumption. This method incorporates controlled environment agriculture using soilless farming techniques, providing better food quality and higher crop yields.

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Covid-19 Outbreak:

The COVID-19 pandemic has impacted the food and agriculture sector, from supply chain disruption to shortage of food supplies. Lack of labor and government-imposed lockdown in India affected the logistics and harvesting plans across the agriculture sector. This has led to the adoption of vertical farming technologies to improve food security and expand farming capacity in urban and local environments. Investment in vertical farming technology increased during the COVID-19 pandemic as vertical agriculture promotes agricultural operations and food production with the country's growing population. These factors are contributing to the growth of this market, with an unprecedented interest among investors to invest in vertical farms.

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Industry Trends:

The market in India is primarily driven by the widespread adoption of agricultural policies. In line with this, the introduction of new and highly advanced technology is positively influencing the market. Furthermore, the growing food consumption and population are catalyzing the market. Apart from this, rising trade activities, such as grain and oilseed export, are likely to boost the growth of the vertical farming market. Moreover, the accelerating demand for genetically modified seeds and shifting consumer preferences for organic and specialty products are significantly contributing to the growth of the market. Besides this, agreements between corporate companies and farmers for agricultural product supply and production are expected to propel the market. Additionally, the Indian government is launching several initiatives to improve the country's existing agricultural infrastructure and providing financial assistance for marketing and transportation of farm produce to increase exports. This, in turn, is anticipated to significantly impact product demand.

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Key Market Segmentation:

Breakup by Component:

• Irrigation Component
• Lighting
• Sensor
• Climate Control
• Building Material
o Glass Greenhouse
o 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.

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This release was published on openPR.