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India’s Agritech Market Landscape Report, 2021

Datalabs by Inc42 Plus

India’s Agritech Market Landscape Report, 2021

Covid-19 has been a terrible human tragedy, but acted as a catalyst for rapid social change. Trends that grew steadily over two decades, including e-commerce, WFH, and food delivery, suddenly surged into ubiquity as lockdowns commenced across the globe. The situation in India has been similar, albeit further complicated by poverty and weak public health systems.

India’s lockdown had the unintended consequence of accelerating the country’s up-and-coming agritech ecosystem. In the last four years, agritech startups in India witnessed unprecedented growth alongside rising interest from the VC investor community. Leveraging 4G connectivity and rising smartphone penetration, agritech entrepreneurs built farmer platforms, B2B agri marketplaces, rural fintech businesses, and farm-to-consumer (F2C) brands. But this dynamic ecosystem represented only a small part of Indian agriculture and reached less than 20% of Indian farmers.

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Key Highlights

India’s agritech market is rapidly growing due to the rise of digital infrastructure, increased internet penetration in rural areas, and enhanced ease in access to farmer inputs. Due to the Covid- induced nationwide lockdown,there were restrictions imposed on logistics, the shutting down of traditional retail channels, and the sharp drop in demand, led to an unprecedented slowdown for many companies. The agritech sector though has proved to be surprisingly resilient. Strong tailwinds formed by restricted movement, migration of labour, and increased consumer awareness of health, have helped escalate the adoption of technology throughout the farming ecosystem. Moreover, the classification of agricultural products as essential commodities ensured business continuity for most players during the lockdown.

1000+

Number of agritech startups in India, 2020

$467 Mn

Funding raised by Indian agritech startups during 2014 to H1 2020

56%

Contribution of farming towards agriculture GVA in FY20

$24.1 Bn

Agritech Market Potential In India, 2020

~1%

Agritech Penetration In India, 2020


Table Of Contents

  • Scope Of The Report
  • Executive Summary
  • Introduction
  • Agriculture In India: Overview
  • The State Of Agriculture In India
  • Factors Driving The Growth Of Agritech
  • India’s Agritech Startup Landscape
  • Agritech In India: Key Highlights
  • India’s Agritech Market Size
  • Agritech Startup Launches
  • Agritech In India: Sub-Sector Landscape
  • Agritech Market Segmentation
  • Prominent Agritech Models
  • Agritech Funding Landscape In India
  • Competitive and Financial Landscape Of Agritech Startups
  • Market Linkage
  • FaaS (Farming-as-a-Service)
  • Farm Inputs
  • Agri-Fintech
  • Precision Agriculture
  • Industry Analysis Of Agritech Market In India
  • SWOT Analysis
  • Growth Drivers For Agritech Market In India
  • Issues & Challenges In Indian Agritech Market
  • Which Tech Indian Farmers Using?
  • How Policies Are Shaping India’s Agritech Landscape
  • Rise Of Hydroponics in India
  • Agritech Trends For 2021 & Beyond
  • Analysts’ Recommendation
  • Methodology
  • Bibliography

Summary

With over 50% of India earning its livelihood from agriculture, India’s agritech revolution not only has a massive opportunity but also will influence the lives of over half a billion people. India’s agritech market is estimated to take off and reach 24.1 Bn by 2025.

The growth in the agritech market over the past few years can be attributed to the rise in digital infrastructure, increasing rural internet penetration, soaring farmers interest in agritech, rise in investors’ confidence and support from the central as well as the state government .

New trends and opportunities have also driven the agritech industry in India. These include the rise of hydroponic farming,growth of B2B platforms and marketplaces, emergence of farm to consumer brands, growing adoption of precision agriculture and more. The agritech market is expected to flourish in the next couple of years due to rise in farmers’ tech awareness, diversified agritech models, advancements in technology, growing number of agritech startups and the technology they have built.

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