India Vertical Farming Market by Offering (Hardware, Software, Services), Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material), Structure (Container-Based Structure, Building Based Structure), Growth Mechanism (Hydroponics, Aeroponics, Aquaponics), and Region - Industry Analysis, Size and Forecast, 2019-2031

India Vertical Farming Market

An energy-intensive method of growing crops, vertical farming integrates a number of technologies including robots, the internet of things, artificial intelligence, and big data analytics to enable crops to grow healthily without being constrained by agronomic principles. Structures for vertical farming rely on complete solutions to accommodate varied hardware integration, data collection, data analysis, and automatic control of installed devices. Field crops or low value crops cannot be grown with vertical farming due to lack of sufficient returns on investment, given its economics. One of the initial drivers behind vertical farming was the concept that as the world's population grows and food demand rises, agricultural production is under more pressure to provide higher yields. In the past few years, the concept was more popular in developed countries such as US and Canada as a result of a variety of causes, including growing consumer desire for "free-from," locally produced items. However, continuous technological advancements in the vertical farming industry have reduced the cost of indoor production and made the notion possible in emerging countries as well.

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Market Access

For vertical farming companies to find customers for their products, gaining market access is essential. There are a few potential markets where the vertical farming product might be sold. Local retailers, cooperatives, wholesalers, significant grocery distribution hubs, and direct-to-consumer sales are a few of these channels.

Quality and Control

A crucial step in the development of a vertical farming company is establishing business ties with vegetable customers. The production of high-quality, safe veggies that are consistently supplied is the key to maintaining this relationship. The commercial connection could be in jeopardy if quantity or quality were to decline. Growing regulations and legislation are established to ensure that quality standards are met in order to maintain the quality of vegetables. Further, given the continued popularity of fresh vegetable imports, the Indian market for vertical farming looks promising. Seasonally, the months of XXXX are when vegetable supplies are at their peak and costs are often at their lowest. Although it appears that per capita vegetable consumption is plateauing, the country's overall demand for vegetables will rise due to the recent population explosion and anticipated future expansion.

The viability of the operation depends on finding and keeping a customer for the items produced via vertical farming. With a smaller percentage going to cooperatives at wholesale pricing, the vertical farm would ideally market the majority of its output directly to consumers. Also, the success of the company depends on maintaining customer relations, product quality, safety, and a consistent supply.

Market Scope – India Vertical Farming Market

Major segments analyzed in the India vertical farming market are offering, component, structure, and growth mechanism. Based on offering, the India vertical market is studied across hardware, software, and services. By component, the India vertical farming market size is analyzed across irrigation component, lighting, sensor, climate control, building material, and others segments. Based on structure, the India vertical farming market is bifurcated into container-based structure and building based structure. In terms of growth mechanism, the India vertical farming market revenue share is analyzed and divided into hydroponics, aeroponics, and aquaponics segments.

Supply Side Analysis for India Vertical Farming Market:

Companies reviewed during the course of India vertical farming market research study are Osram, Signify, AeroFarms, Freight Farms, Spread, sky Greens, Valoya, Plenty, Heliospectra AB, and Everlight Electronics among other. Some of the other key vendors analyzed while estimating India vertical farming market growth are Growing Greens, GP Solutions, Upward Farms, Iron Ox, Bright Farm, Vertical roots, Sasaki, and Smallhold,

Key Highlights

• Actual India vertical farming market data for 2019, 2020, and 2021
• Estimated India vertical farming market value for the year 2022 and market growth prospect between 2022 and 2031
• Historical YoY growth and forecast trend at granular level
• Cross sectional analysis of offering segment at end user level
• Impact of COVID-19 on India vertical farming market in terms of $ and insights on various COVID-19 recovery scenarios
• Summary of key growth factors, challenges, and opportunities shaping India vertical farming industry
• Key player positioning and benchmarking

Research Scope