In-depth Analysis of COVID-19 impact on the Indian Agritech Market: Ken Research

The outbreak of the Corona Virus pandemic in early 2020 led to massive disruptions in various sectors and completely transformed the way industries used to function. As of April 27, 2021, the number of cases across the globe crossed 148 million and more than 3.12 million people lost their lives. India is one of the most badly hit nations due to the virus. The country is currently burdened under a deadly second wave, with average daily cases crossing 3 lakhs since April 22. The unprecedented rise in infections has left the country grappling, both economically as well as socially.

Agriculture continues to be a prominent sector for the Indian economy as it is the primary source of livelihood for over 50% of the nation’s population and contributes ~19% of the country’s GDP. In FY’2020, the total production of agri products in India reached 347.4 million tones with the total gross value addition amounting to over INR 11 lakh crores. Rice and wheat continue to be the most widely cultivated crops across the country.  Agriculture products also account for ~11-12% of India’s overall exports annually.

Impact on Covid on the Agriculture Industry: Following the trajectory of most of the industries in India, Indian agriculture sector was hit by supply chain disruptions on the onset of the pandemic, despite food being an essential commodity. The lockdown delayed the harvest of the Rabi crop due to labour and machinery scarcity as well as restrictions on transport and movement. Despite favorable winter conditions and above normal output, the sudden disruption in supply chain resulted in losses on account of damaged crop and low profitability. Regardless, agriculture was the only sector to have registered a positive growth rate of 3.4% in the first quarter of FY’2021.

Impact on Investment Activity in Agritech Sector: The investment in the agritech sector continued to spur despite the ongoing pandemic in 2020. Approximately 133 deals took place in the overall agritech space during 2020. Venture Capitalist, Omnivore, invested about ₹130 crores in 11 deals during the year as compared to ₹47 crores in seven firms, during 2019. Waycool, Ninjacart, Arya Collateral, Dehaat, Bijak, IntelloLabs, Clover Ventures, Cropin, Samunnati, Gramophone and Ergos were some of the major startups that received funding in 2020. The total investment in the agritech industry in 2020 crossed USD 300 million, growing at double digit growth rate of ~22% from 2019.

Impact on Agritech Demand and Future Outlook: Amidst supply chain disruptions most agritech startups witnessed a spike in demand for services and adoption of tech solutions among farmers. Input access platform, Agrostar, saw the revenue generated through its app triple within 3 months post the Covid-19 outbreak. DeHaat’s agronomy advisory services segment saw a ~3X spike for digital advisory services and a ~3.5X jump in overall demand. Fresh produce supply chain startup, Ninjacart, saw a ~20% rise in their app-based ordering patterns and the company’s operations returned to pre-Covid levels in December 2020. Cropin witnessed a ~128% spike in viable leads, particularly for assisted traceability and remote monitoring solutions. The startup also saw a ~37% increase in deals closed online.

Many startups also innovated and launched solutions to help farmers. In April 2020, Ninjacart launched ‘Harvest the Farms’ initiative by partnering with hyper local delivery players such as Zomato, Dunzo and Swiggy to enable farmers to directly sell produce to end customers. BharatAgri shifted to hundred percent digital on-boarding of farmers, without having to rely on an on-ground team for customer acquisition.

The covid-19 outbreak is acting as a catalyst and has got the momentum rolling for the growth of agritech in India. Tailwinds such as high level of investments, increasing rural internet penetration and financial literacy, growth in mobile connectivity are expected to stimulate the sector’s growth in the coming years. Basis all these factors, the agritech market in India is expected to grow at a CAGR of ~32.0% on the basis of revenue over the period FY’2020-FY’2025.

India Agritech Market (Basis Revenue):-

India Agritech Market Segmentations

By Nature of Services, FY’2019-FY’2020 (On the basis of Revenue)

Input Market Linkage & Farming as a Service (FaaS)

Supply Chain, Post Harvest Management & Output Market Linkage

Precision Farming, Advisory & Analytics

Agri Fintech

By Region (On the basis of No. of Agritech Startups)

Karnataka

Maharashtra

Delhi NCR

Haryana

Tamil Nadu

Telangana

Gujarat

Others

Agritech Startups Covered:-

Input Market Linkage & Farming as a Service (FaaS)

Agrostar

Dehaat

Gramophone

EM3 Agriservices

Gold Farm

Bighaat

Thanos Technologies

Supply Chain, Post Harvest Management & Output Market Linkage

Samunnati Agro

Ninjacart

Waycool

Arya Collateral

Dehaat

Farmlink

Crofarm

Agrowave

Precision Farming, Advisory & Analytics

Cropin

Satsure Analytics

Intello Labs

FarmERP

AgNext

BharatAgri

Yuktix Technologies

Fasal

Agricx

Agri Fintech

Samunnati Financial Intermediation & Services

Origo Finance

Ergos

Gramcover

Aryadhan Financial Solutions

Farmart

Jai Kisan

Poultry & Dairy Tech

Milk Mantra

Country Delight

Stellapps

Happy Cow Dairy

Eggoz

Mr. Milkman

Mooofarm

Key Target Audience:-

Agritech Companies

Input Manufacturing Companies

Venture Capital Firms

Independent Investors

Industry Associations

Rural Banks & NBFCs

Government and Regulatory Bodies

Time Period Captured in the Report:-

Historical Period: FY’2019-FY’2020

Forecast Period:  FY’2021-FY’2025

Key Topics Covered in the Report:-

Agriculture Overview, Agri Exports from India & Productivity Scenario

Demand Analysis, Farmers’ Scenario & Pain Points of Farmers

Need Analysis of Entities in Agribusiness Value Chain

Overview and Genesis of India Agritech Industry

Agritech Operating Model & Services Offered

Trends and Growth Drivers in the Industry and Challenges Faced

India Agritech Market Size and Segmentations, FY’2019-FY’2020

Investment Analysis of Agritech Industry

Government Initiatives, Agri Reform Laws 2020 & Public Private Partnerships

Industry Porter’s Five Forces Analysis

Cross Comparisons between Agritech Players in Different Segments

Future Market Size and Segmentations, FY’2020-FY’2025F

Covid-19 Impact on the Industry, Future Trends & the Way Forward

Analyst’s Recommendations

For more information on the research report, refer to below link:-

India Agritech Market

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Agriculture Farm Equipment Market Analysis | Powered Agriculture Equipment Market Growth: Ken Research

 Agriculture Equipment Market: - The worldwide population is augmenting at an alarming rate. The populace is projected to be more prosperous and urbanized, appreciating better diets and living standards. An increasing need for food will spur the requirement for agricultural products, which will augment the requirement for agricultural equipment such as tractors. In several countries, governments deliver extensive support to farmers to buy the agricultural equipment to work more proficiently, which is projected to bolster the growth of the tractor sector in the global agricultural equipment market.

Not only has this, in India, the Rashtriya Krishi Vikas Yojana backing the farmers to purchase agricultural equipment comprising the tractors at subsidized rates. Several government authorities are undertaking initiatives to educate farmers concern about the benefits of utilizing agricultural equipment in farming.

Corporates are also reaching out to farmers to educate them about loan policies, credit financing, and the advantages of contract farming – and this is projected to drive the requirement for agricultural equipment, majorly tractors. In European and American regions, governments are taking the essential steps to educate farmers and guide them about the benefits of utilizing the agricultural equipment.

Furthermore, the requirement for agricultural equipment is projected to observe significant growth throughout the forecast period. This robust growth can be attributed to the moving of agricultural activities from animal or manual functions to automated approaches.

Aspects such as government initiatives, increasing urbanization rate, and time-saving properties are transforming the focus of farmers to mechanization and advancing their investment power. Training programs showed by the government for technicians, farmers, and machinery users is another essential factor that is projected to further propel the requirement for tractors over the forecast duration.

Implementation of modern technologies by farmers to augment farm yield and meet the soaring requirement for food is projected to be a key aspect driving the market. Traditional farming approaches such as plows, tillage, and seeders are now being replaced with several modern agricultural types of machinery. Advanced farming machinery such as spraying equipment, hay and forage equipment, harvesters, and irrigation and crop processing equipment is being optimized in countless processes to enhance overall crop output and quality.

Agriculture equipment allows easy farming; it makes the procedure simpler and more profitable by improving the crop quality and decreasing the labor cost. The market is expected to observe high growth over the review period due to the amalgamation of numerous novel technologies in this arena. Effective augment in worldwide population is increasing the requirement for food, thereby augmenting the pressure on agriculturists to innovate time- and cost-efficient approaches of production. This is predicted to spur the Agriculture Farm Equipment Market Analysis.

Technologically advanced agricultural robotics, such as ground-based sensors, autonomous tractors, and flying drones, aid farmers in introducing food at low costs to fulfill the growing requirements for food. Farmers are progressively becoming tech-savvy and the implementation of GPS software products and tractors equipped with telematics is projected to spur sales of agriculture machinery over the review years. Furthermore, increasing usage of cost-cutting strategies for conniving farm equipment is projected to offer foremost growth opportunities to players. An ever-increasing number of suppliers, coupled with an increasing number of government subsidies, is projected to offer growth avenues for market enlargements.

Related Reports by Ken Research:-

Indonesia Agricultural Machinery Market Outlook to 2020 – Integration of Small Farm holding Structure and Government Support to Foster Growth

Europe Agriculture Equipment Market Outlook to 2023 – By Type (Tractors, Harvesting Equipment, Soil Preparation and Cultivation Equipment, Haymaking Equipment, Crop Protection Equipment, Transport and Handling Equipments and Other Agricultural Equipment); and By Major Countries (Germany, France, Italy, UK, Poland, Spain, and Others)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

Speedily Increment in Improvement around the Paper Products Global Market Outlook: Ken Research

 The plastics product market comprises of sales of plastics products by numerous entities (organizations, sole traders and partnerships) that introduce the plastics products. The companies in this industry generate packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications. Such companies utilize the polymers and resins as raw materials which are principally sourced from polymer suppliers and developments utilized in plastic products manufacturing comprise compression molding, extrusion molding, injection molding, blow molding and casting.

According to the report analysis, ‘Paper Products Global Market Report 2020-30: Covid 19 Impact and Recovery’ states that Georgia-Pacific Corporation; International Paper Company; Kimberly Clark Corporation; Tetra Laval Group; Svenska Cellulosa  Aktiebolaget and numerous others are the foremost corporates which recently functioning in paper products global market for leading the highest market growth and registering the great value of market share around the globe more proficiently while analysing the strategies and policies of the government as well as corporates, developing the applications of such more effectively, decreasing the linked prices, employing the young work force, spreading the awareness connected to the applications and qualities of such, establishing the several research and development programs, delivering the better consumer satisfaction and implementing the policies of enlargements and profit making.

While, the outbreak of the Coronavirus disease (COVID-19) act on behalf of as a massive restraint on the paper products manufacturing market during 2020 as supply chains were disrupted due to trade borders and consumption declined due to lockdowns executed by governments globally. COVID 19 is an transmittable disease with the flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People`s Republic of China and spread globally counting Western Europe, North America and Asia. The Steps by the national governments to contain the transmission have occasioned in stumbling of manufacturing activities and a decay in economic activity with countries inflowing a state of lockdown and the outbreak is likely to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is likely that the paper products manufacturing market will mend from the shock across the forecast duration as it is a `black swan` event and not correlated to ongoing or fundamental weaknesses in the market or the worldwide economy.

Whereas, the effective growth in awareness on the impact of deforestation to the environment has led to paper manufacturing corporates opting for alternative sources for paper introduction. Paper manufacturing corporates are recycling paper products to save costs on raw material that in turn is assisting the companies in their environment conservation exertions. Also, biomass introduced as a by product from paper industry is allowing the companies to produce the electricity for manufacturing activities. For instance, Austrian reliant on Mondi Containerboard launched ecofriendly paper grades for packaging that can be recycled for introducing the wide range of paper products.

For More Information, Click on the Link Below:-

Global Paper Products Market

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Paper Products Manufacturing Global Market Report 2019

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

India Agritech Market Outlook to FY’2025: Ken Research

The report titled “India Agritech Market Outlook to FY’2025-By Nature of Services (Input Market Linkage & Farming as a Service, Supply Chain, Post Harvest Management & Output Market Linkage, Precision Farming, Advisory & Analytics and Agri Fintech)” provides a comprehensive analysis of the agritech industry and start up ecosystem in India. The report covers various aspects including the current agriculture & productivity scenario, demand analysis & farmers’ scenario, supply ecosystem, trends & recent developments, issues & challenges, Porter’s Five Forces Analysis, government initiatives, technology landscape, operating models of agritech players, competition scenario in various segments, & more. The report concludes with future projections for the agritech industry including market revenue by FY’2025, Covid-19 impact, analyst’s recommendations and future trends and outlook.

India Agritech Market Overview and Size

The India Agritech Market is in early growth stage with increasing awareness among farmers due to growth in internet penetration and mobile connectivity.  Many agritech startups have entered the industry, especially in the last 5 years, seeing the potential of the industry. Government impetus in the form of setting up incubators, grants and entering into public-private partnerships with these players has also stimulated entry of players in the sector. The sector is also witnessing high level of investment activity, with increasing interest from venture capitalist firms and international investors. In 2020 alone, the investment in the sector crossed USD 300 million. The overall agritech industry witnessed a revenue growth of ~85% during FY’2019-FY’2020.

India Agritech Market Segmentations

Input Market Linkage and Farming as a Service (FaaS) Segment

The adoption of input market linkage solutions is fast growing in the country. Many players such as Agrostar and Bighaat offer missed call based service for farmers ordering inputs & equipments along with cash on delivery service. By partnering directly with input producers, these players are able to eliminate multiple levels of intermediaries and provide better prices to the farmers. On the other hand, some players are offering services such as on-demand machinery rental, field leveling, and pesticide spraying as a part of farming as a service. These services are usually on pay-per-use of per acre basis. Many startups in this segment are also expanding in output and data based advisory for additional revenue sources. The segment witnessed a ~2x growth rate from FY’2019-FY’2020.

Supply Chain, Post Harvest Management & Output Market Linkage Segment

The segment is the largest contributor to the revenue of the agritech industry in FY’2020 and witnessed maximum growth amongst all the segments in FY’2020. Players in the segment are involved in collection, processing, storage, logistics and distribution of agri produce from the farmers to the end customers or retailers. Inadequate rural infrastructure including pack houses at farm gates, paved roads, etc and lack of traceability along the supply chain has necessitated the intervention of agritech players in the segment. Supply chain players have received maximum investments in the recent years and startups including Samunnati, Ninjacart, Waycool among others are some of the highest funded startups in the industry.

Precision Farming, Analytics and Advisory Segment

Lack of knowledge about scientific farming methods and techniques among famers in India led to the entry of agritech startups offering precision farming solutions and advisory. These players collect farm specific data about soil, weather conditions, humidity, pests etc using IoT sensors or geospatial technology and combine analytical capabilities to provide timely insights to the farmers. Some players are also working on a B2B model and offering software as a service such as ERP for farm management, etc. Agritech startups are also coming up with quality assessment and grading solutions for large agribusinesses and traders. The segment witnessed a growth of ~17% from FY’2019 to FY’2020.

Agri Fintech

The segment comprises of agritech startups offering solutions such as credit, insurance, warehouse receipt financing, trade financing, etc. The segment is still in a nascent stage and has witnessed the entry of players majorly in the last 5-6 years. Lack of access to organized credit, collateral and formal documentation is the biggest challenge faced by farmers that are often in need to small ticket sized loans. Agritech players are leveraging technologies such as geo tagging of farm lands and remote crop monitoring to build risk profiles of farmers and ascertain their credit worthiness. By partnering with banks, NBFCs and input suppliers, agritech players offer loans at lesser interest rates than unorganized lenders.

Competitive Landscape in the India Agritech Market

The India Agritech Market has presence of ~600-700 agritech startups as of 2020. Startups in the supply chain & output linkage segment including Samunnati Agro, Ninjacart and Waycool dominate the industry on the basis of revenue in FY’2020. Startups in the precision farming, advisory & analytics segment are still in a nascent stage and face the challenge of monetization at scale. Cropin is the leading player in the precision farming segment. Within the input market linkage and farming as a service segment, Agrostar was observed to be the leading player. The agri fintech space is currently lead by Samunnati’s NBFC arm and Origo Finance. Most players in the agritech industry compete on the basis of parameters such as number of farmers on-boarded, partnerships, physical touch points, geographical presence, etc.

India Agritech Market Future Outlook & Projections: The industry is expected to witness a CAGR of ~32.0% on the basis of revenue by FY’2025. Growing rural smartphone and internet penetration is expected to contribute to higher adoption agritech solutions in the country. ~410 million new smartphone users are expected to be added to India’s current user base by 2025, without majority of the demand coming from rural areas. Geographical expansion to different states by agritech players is also expected to be witnessed in the coming years. The entry of new players with end-to-end solutions along the agribusiness value chain is anticipated for the future.

India Agritech Market (Basis Revenue):-

India Agritech Market Segmentations

By Nature of Services, FY’2019-FY’2020 (On the basis of Revenue)

Input Market Linkage & Farming as a Service (FaaS)

Supply Chain, Post Harvest Management & Output Market Linkage

Precision Farming, Advisory & Analytics

Agri Fintech

By Region (On the basis of No. of Agritech Startups)

Karnataka

Maharashtra

Delhi NCR

Haryana

Tamil Nadu

Telangana

Gujarat

Others

Agritech Startups Covered:-

Input Market Linkage & Farming as a Service (FaaS)

Agrostar

Dehaat

Gramophone

EM3 Agriservices

Gold Farm

Bighaat

Thanos Technologies

Supply Chain, Post Harvest Management & Output Market Linkage

Samunnati Agro

Ninjacart

Waycool

Arya Collateral

Dehaat

Farmlink

Crofarm

Agrowave

Precision Farming, Advisory & Analytics

Cropin

Satsure Analytics

Intello Labs

FarmERP

AgNext

BharatAgri

Yuktix Technologies

Fasal

Agricx

Agri Fintech

Samunnati Financial Intermediation & Services

Origo Finance

Ergos

Gramcover

Aryadhan Financial Solutions

Farmart

Jai Kisan

Poultry & Dairy Tech

Milk Mantra

Country Delight

Stellapps

Happy Cow Dairy

Eggoz

Mr. Milkman

Mooofarm

Key Target Audience:-

Agritech Companies

Input Manufacturing Companies

Venture Capital Firms

Independent Investors

Industry Associations

Rural Banks & NBFCs

Government and Regulatory Bodies

Time Period Captured in the Report:-

Historical Period: FY’2019-FY’2020

Forecast Period:  FY’2021-FY’2025

Key Topics Covered in the Report:-

Agriculture Overview, Agri Exports from India & Productivity Scenario

Demand Analysis, Farmers’ Scenario & Pain Points of Farmers

Need Analysis of Entities in Agribusiness Value Chain

Overview and Genesis of India Agritech Industry

Agritech Operating Model & Services Offered

Trends and Growth Drivers in the Industry and Challenges Faced

India Agritech Market Size and Segmentations, FY’2019-FY’2020

Investment Analysis of Agritech Industry

Government Initiatives, Agri Reform Laws 2020 & Public Private Partnerships

Industry Porter’s Five Forces Analysis

Cross Comparisons between Agritech Players in Different Segments

Future Market Size and Segmentations, FY’2020-FY’2025F

Covid-19 Impact on the Industry, Future Trends & the Way Forward

Analyst’s Recommendations

For more information on the research report, refer to below link:-

India Agritech Market

Related Reports:-

Myanmar Agriculture Machinery Market Outlook to 2025: Driven by Growth in Machinery Supply and Government's Focus on Agriculture Mechanization in the Country

Vietnam Agricultural Machinery Market Outlook To 2025 – Agriculture Tractor Market (By Type: 2W And 4W Tractors, By Power: Below 12 HP, 12HP-35HP, And Above 35HP, By Region: Central Highlands, North Central & Central Coast, Mekong Delta, Northern Midlands and Mountains, Red River Delta and South East), Combine Harvester Market, Rice Transplanters Market and Agriculture Implements Market (By Product Type: Rotavator, Plough, Harrow, Fertilizer Spreaders and Others)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249