India Indoor Farming Market - Forecasts from 2024 to 2029

India Indoor Farming Market - Forecasts from 2024 to 2029

Indian indoor farming market is expected to grow to US$1.740 billion in 2029, up from US$0.823 billion in 2022, with a CAGR of 11.29% during the projected period.

One of the primary factors that is pushing indoor farming is the significant gaining traction because of its ability to produce more with fewer resources. Moreover, the increasing health consciousness and increasing consumption of residue-free food are also paving the way for the usage of new and innovative techniques, like indoor farming. People nowadays are producing all the necessary crops by themselves at a small scale as these foods are free from pesticides and have higher yields. Further, this farming technique can provide crops all year round and is independent of weather conditions. Increasing integration of technologies such as the Internet of Things (IoT) is expected to boost the market for indoor farming in India in the projected period.

To increase the prevalence of indoor farming in the country the government is providing subsidies for hydroponic and aeroponics farming. This initiative is taken under the “Development of Commercial Horticulture through Production and Post-Harvest Management”, the government will provide financial assistance for hydroponic and aeroponics projects.

A decrease in agricultural land in the country propels India's indoor farming market.

India is currently undergoing significant economic activities such as rising construction. For instance, according to Invest India, by 2025 the Indian construction industry is expected to reach US$1.4 trillion. Additionally, the country is one of the most populated countries in the world. As the population is rising in the country, the demand for food is also increasing. Indoor farming is one of the best solutions as it can give higher agricultural output in less area. Moreover, the country is focusing on various technological advancements such as the integration of the Internet of Things with the help of mobiles, and drones. This will help in providing real-time health information, which also aids the market growth for Indian indoor farming in the projected period. According to the World Bank, the agricultural land is decreasing in the country. In 2015, the percentage of agricultural land in India was 60.40% whereas it decreased to 60.00% in 2021. This decrease is due to rising construction activities in the country. Due to the continuous reduction in per capita farmland availability, optimizing productivity becomes a strategic solution. The focus is on cultivating high-yield crops to overcome the limitations posed by diminishing farmland without compromising overall production. Achieving this goal is efficiently feasible through the adoption of indoor farming methodologies.

Segmentation:

By Growing System:

Hydroponics
Aeroponics
Aquaponics
Soil-based
Hybrid
By Component:

Hardware
Software
Services
By Facility Type:

Glass or Poly Greenhouse
Indoor Vertical Farm
Container Farm
Indoor DWC System
By Crop Type:

Fruits and Vegetables
Herbs and Microgreens
Flowers and Ornamentals
Others