India Hydroponics Market
India Hydroponics Market is segmented By Technology (Nutrient Film Technique, Drip System, Ebb & Flow/ Flood & Drain System, Others), By Type (Outdoor Farming, Indoor Farming), By Produce Type (Fruits and Vegetables, Tomato, Strawberry, Bell Pepper, Leafy Vegetables, Cucumber, Others, Flowers), and By Region (Andhra Pradesh, Telangana, Gujarat, Haryana, Maharashtra, Others) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
[120 Pages Report] The India Hydroponics Market is expected to grow at a CAGR of 13.53% during the forecasting period (2022-2029).
India Hydroponics Market - Strategic Insights
|
Metrics |
Details |
|
Market CAGR |
13.53% |
|
Segments Covered |
By Technology, By Type, By Produce Type and By 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, and Other key insights. |
|
Fastest Growing Region |
Asia Pacific |
|
Largest Market Share |
North America |
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Hydroponics, a subset of hydroculture, is a growing plant without soil, using mineral nutrient solutions in a water solvent. Factors like depleting water resources, gradually decreasing land under cultivation and reducing infertility of the soil, etc., are raising the need to invent innovative and fruitful cultivation methods. Hydroponics is one such revolutionary method of farming. Urbaankisaan is currently developing a commercial hydroponics plant in Hyderabad to produce 10 tonnes of yield per month and further expand its operation to Mumbai and Bangalore. India's hydroponics market is experiencing the establishment of new commercial plants in tier 1 cites in collaboration between regional producers and global technology providers to meet the growing demand for exotic and organic foods.
Market Dynamics
Growing demand for sustainable and protected farming practices and higher yield of crops grown under hydroponic facilities over traditional farming are the driving factors for its growth. According to the study published by V.Chandrshekaran, a founder of a hydroponics technology company, the average yield of lettuce per acre yearly was recorded between 9-10 tons in soil-based agriculture and 300-400 tons in hydroponics agriculture. Increased hydroponics' investment rate over the traditional soil-based agricultural process through increased yield and minimal water cultivation might further boost the agricultural communities towards adopting the hydroponics technologies during the forecast period.
|
Vegetable Type |
Soil Agriculture Avg per Acre |
Hydroponics Agriculture Avg per acre |
|
Lettuce |
9-10 tons |
300-400 tons |
|
Strawberries |
20-25 tons |
50 tons |
|
Cucumber |
15-20 tons |
200 tons |
|
Tomato |
10-12 tons |
180-200 tons |
|
Bell Pepper |
10-12 tons |
120-140 tons |
|
Potato |
8-10 tons |
60-70 tons |
|
Cabbage |
6-7 tons |
10-12 tons |
However, Lack of awareness among the farming communities regarding hydroponics and High initial investment and maintenance cost associated with hydroponics are the key restraints hampering the market growth globally. The major farming communities located across the country have minimum knowledge of hydroponics, and they are majorly into competitive farming. The lack of word of mouth regarding hydroponics technologies from one farming communities to another led to a low understanding of farmers worldwide' technology.
Market Segmentation
By technology, the India Hydroponics market is segmented into nutrient film technique, drip system, ebb & flow/flood drain system, and others. The nutrient film technique segment is estimated to reach a market valuation of USD XX thousand by 2027 from an initial market value of USD 1286.64 thousand in 2018. In the Nutrient film technique, the roots are directly exposed to the nutrient solution. A thin film of nutrient solution flow through the channels, and these channels are made of a flexible sheet. The products suited for production under nutrient film techniques include lettuce, different herbs, and baby greens.
The average cost per installation of Nutrient Film Technique gulleys in 1 acre varies between 23,000 and 30,000. Commercial growers across the region are currently deploying Nutrient Film Technique systems. The low-cost, high productivity nature of the system and increasing investment by the current hydroponic growers in this technology to boost leafy greens' production are the major factors driving the nutrient film segment in the Indian hydroponics market.
By product type, the India Hydroponics market is segmented into fruits & vegetables, and flowers. The fruits & vegetable segment is estimated to reach a USD XX thousand market value by 2027 from an initial market value of USD 2544.15 thousand in 2018. The market is estimated to grow at a CAGR of 13.53% in the forecasted period 2020-2027. The fruits & vegetable segments are further segmented into tomatoes, strawberries, cucumber, leafy vegetables, bell pepper, and others. These products are produced majorly through nutrient film technique, deep water culture, and Dutch bucket technique.
The consumer markets for hydroponically produced fruits and vegetables include retail and hotels, fast food chains, railway catering, foreign food service companies, defense establishments, and NGOs. Leafy Vegetables dominates India's fruits and vegetables due to the growing demand for high-quality fresh lettuce by the commercial institutions, food chains, and restaurants to meet the daily requirements are boosting the market for hydroponically produced leafy greens such as lettuce. Currently, India is importing 85% of exotic vegetables from neighboring countries, and it is expected to grow at a growth rate of 15-20% per year.
Competitive Landscape
The key strategies adopted by prominent players in the Indian hydroponics market are establishing new commercial plants in tier 1 in collaboration between regional producers and global technology providers to meet the growing demand for exotic and organic foods.
The major players include DS Group, Letectra Agritech Pvt Ltd, Sparsh Bio Life, Neoterra Farming Technologies Pvt Ltd, Delhiponics, Hydroherbs, Simply Fresh Inc, Junga Freshngreen Pvt Ltd, Triton Food Works Pvt Ltd., and Fresco.
Over the next few years, the market might experience huge competition through major food chains across the globe establishing their hydroponics farms in India.
In June 2017, The Triton Food Works Pvt Ltd established five farms in Karnataka, Maharashtra, and Delhi grabbing INR 1 Crore's revenue in 2017.
In February 2017, Infra Co Asia Development Pte Ltd. entered into a strategic agreement with Junga Freshgreen Pvt ltd to develop 9.3 hectares hydroponic-based agricultural facility in Junga, North India.
Why Purchase the Report?
- Visualize the Indian hydroponics' composition in terms of various types of technologies, types, and product types, highlighting the key commercial assets and players.
- Identify commercial opportunities in the Indian hydroponics market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of India hydroponics market-level 4/5 segmentation.
- A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The India Hydroponics report would provide approximately 42 data tables, 26 figures, and 120 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
FAQ
Frequently Asked Questions
What is the Projected CAGR value of the India Hydroponics Market?
India Hydroponics Market is expected to grow at a CAGR of 13.53% during the forecasting period 2022-2029.
Which region controlled the global market during 2022-2029?
North America region Controls the India Hydroponics Market during 2022-2029.
Which is the fastest growing region in the India Hydroponics Market?
Among all regions, Asia Pacific is the fastest growing market share during the forecast period.