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