IMARC Group’s latest research report, titled “India Vertical Farming Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the India vertical farming market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The vertical farming market in India is expected to exhibit a growth rate (CAGR) of 25.4% during 2023-2028.
India Vertical Farming Market Overview:
Vertical farming refers to planting and growing crops on vertically inclined surfaces. It is widely adopted for crop production using artificial light, humidity, temperature, and gas control. It creates an ideal atmosphere for the growth of fruits, vegetables, and non-edible plants and assists in high yield by causing a negligible effect on climate. It is beneficial for crop cultivation on arid lands, unfertile lands, mountains, indoors, and rooftops of buildings. Compared to traditional farming, vertical farming does not involve the utilization of pesticides or fungicides, producing eco-friendly and energy-efficient products. Besides, it assures sustainability by addressing the expanding urban population’s food security concerns.
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India Vertical Farming Market Growth:
Significant growth in the agriculture industry is driving the market in India. This can be attributed to the rising environmental consciousness amongst farmers as it reduces the amount of land and water needed for its production. Moreover, the increasing demand for genetically modified seeds and rising customer preferences for organic and specialty products are further augmenting the market. Apart from this, numerous technological advancements and the introduction of the Internet of Things (IoT)-enabled sensors to provide real-time information on crop health are providing an impetus to the market. Other factors, such as the escalating awareness among the masses and extensive research and development (RD) activities, are also influencing the market across India.
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Key Market Segmentation:
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.
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