Market Overview
India Hydroponics Market reached USD 1.4 billion in 2022 and is expected to reach USD 5.3 billion by 2031 and is expected to grow with a CAGR of 17.6% during the forecast period 2024-2031. The increased adoption of sustainable agricultural practices and rising demand for protective environmental farming increased the Indian hydroponics market growth.
Hydroponics can be used by urban and rural residents needing more land access. The efficient use of available space in hydroponics offers a practical alternative for achieving food security. Such that hydroponic production systems have gained popularity among small farmers, and commercial enterprises. This system requires less amount of water than traditional soil-based agriculture, making this technology a more sustainable method of agriculture, particularly in water scarcity areas.
The hydroponic plants are grown in controlled environments. Thus, pests and diseases are less likely to affect the crops. The farmers can use natural pest control methods using organic pest control products. Thus, hydroponics can help reduce the use of pesticides and herbicides. The increasing changes in the population's eating patterns, increasing preference for nutritious fruits and vegetables, rising need for higher yield in little space, and other factors are expanding Indiaās hydroponics market.
Market Summary
| Metrics | Details |
| CAGR | 17.6% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Technology, Type, Produce Type, and Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porterās Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other vital Insights. |
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Market Dynamics
Growing Adoption of Organic Farming Practices Drives the Growth of the India Hydroponics Market
India hydroponics market is driven by the rising adoption of organic farming practices. With the increase in consumers awareness of the potential risks associated with conventional farming practices, the organic farming has become more prevalent in recent years. These technology helps to provide a controlled environment that can help to eliminate these risks and provide consumers with fresh, healthy and safe produce.
Organic hydroponics combines the benefits of hydroponic systems with the principles of organic farming, such as avoiding synthetic pesticides and fertilizers, maintaining soil health and using sustainable farming practices. The approach is gaining popularity among consumers who want fresh, healthy, sustainable produce.
Increasing Urbanization is Driving India Hydroponics Market Growth.
One of the key drivers of the hydroponics market is urbanization. With increasing urbanization and the expansion of cities, the amount of available farmland is decreasing. However, due to limited space and resources, traditional farming methods are only sometimes practical in urban areas. Hydroponic systems offer a way to grow crops without relying on traditional farmland.
Hydroponic systems allow plants to grow in controlled environments without soil, using less space and resources. Hydroponic systems offer a way to grow fresh produce in urban environments by using vertical farming techniques and repurposing unused spaces such as rooftops, parking lots and shipping containers. The growing shrinking arable land is also driving the market growth.
High Capital Investments Restrain the Market Growth.
The high capital investments are necessary to establish and maintain hydroponic systems. The price of the hydroponics systems depends on their size and features. The initial cost of setting up a hydroponic farm can be significant. The necessary equipment, such as pumps, reservoirs and lighting systems, also add expense to the setup. The costs of electricity, water, and nutrient solutions can also be expensive, making it difficult for the farmers to take up the system management.
In a country like India, most small-scale farmers canāt afford to purchase these advanced systems, which may not be viable for all farmers due to location, climate and infrastructure. In addition, lack of awareness among most farmers hinders the marketās growth. The system usage requires understanding its overall procedure, technical management, nutrient mixture balancing, and others that must be understood well. The low literacy rate among the farmers is holding back the market expansion.
Market Segment Analysis
India hydroponics market is segmented based on technology, type, and produce type.
In the Indian Hydroponics Market, the Fruits and Vegetables Segment Holds the Largest Market Share.
India hydroponics market has been segmented by produce type into fruits and vegetables, and flowers. The fruits and vegetables segment held the largest hydroponics market share of 58.4% in the Indian hydroponics market analysis report, 2022. The fruits and vegetables are sub-segmented into tomato, strawberry, bell pepper, leafy vegetables, cucumber, and others.
The leafy vegetables dominate India's fruits and vegetables due to the growing demand for high-quality fresh lettuce by commercial institutions, food chains, and restaurants to meet the daily requirements are boosting the market for hydroponically produced leafy greens such as lettuce. These are well-suited to hydroponics farming due to their shallow roots, fast growth rate and high water requirements.
Source: DataM Intelligence Analysis (2023)
Competitive Landscape
The major Indian players in the market include Triton Food Works Pvt Ltd., Letectra Agritech Pvt Ltd, DS Group, Sparsh Bio Life, Neoterra Farming Technologies Pvt Ltd, Delhiponics, Hydroherbs, Simply Fresh Inc, Junga Freshngreen Pvt Ltd, and Fresco.
COVID-19 Impact Analysis
India Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the agriculture industry. Covid-19 has considerably impacted the Indian agriculture supply chain phases involving hydroponics fruits and vegetable production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the agriculture industries as well. The COVID-19 pandemic is upending life, and the agriculture sector is seeing increased trends like hydroponics systems. The agriculture businesses are launching innovative programs, including hydroponics systems.
Key Developments
- In January 2021, Farms2050, India's first company to start a hydroponic farm, collaborated with AmHydro, a hydroponics company in the US.
- In May 2021, IIT Bombay alumni startup's half-acre hydroponics established partnerships with local vegetable distributors and sellers in Rajasthan.
Why Purchase the Report?
- To visualize the India hydroponics market segmentation based on technology, type, produce type, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of hydroponics market-level with all segments.
- The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The India Hydroponics Market report would provide approximately 39 tables, 25 figures and 165 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
