Market Overview
Indonesian Agricultural Sector Overview
Indonesia ranks second in the agriculture, forestry, and fishing (as a % of GDP) among the Far East Asian countries. Agriculture has historically been a pillar of the Indonesian economy, making a significant contribution to the country’s strong economic growth.
The Gross Domestic Product of Agriculture, Forestry, and Fishery in Indonesia stood at xx Bn in the year 2021 growing at a CAGR of xx% during 2016 to 2021.
Indonesia has been a hotbed for agricultural innovation in recent years, driven mainly by AgriTech start-ups focused on creating opportunities to optimize fragmented value chains and connecting crop producers and buyers in more efficient and profitable ways. Further Indonesian Agritech Market contains 5 subsections which are: Farming as a Service (FaaS), Market Access, Fintech, Agritech, and Agri- Biotech.
Indonesia Agritech Market Sizing
The agritech market in Indonesia has seen a rise from xx Mn in FY’16 to xx Mn in FY’21, with a five-year CAGR of xx%. This growth can be attributed to recent government initiatives, rising adoption of smartphones in rural Indonesia, increase in foreign investments, and influx of innovative startups operating in the different sub verticals of agritech market. AgriTech innovators are playing a vital role in digitizing processes in the last mile and supporting the creation of digital identities for farmers.
Market Sizing of Farming as a Service (FaaS) Sub vertical: Farming as a Service (FaaS) market in Indonesia generated a revenue of USD xx million in 2021. A CAGR of xx% is observed in the FaaS market during 2016 and 2021 due to the emergence of rental business models like Precision Agriculture. Some of the emerging startups are: Sayurbox, TaniSupply, Aruna, and Limakilo.
Market Sizing of Fintech Sub vertical: The FinTech segment in the Indonesia AgriTech market grew at a CAGR of xx% during 2016 and 2021. TaniFund, eFishery, Koltiva, iGrow, and Crowde are some of the major startups in the Fintech vertical.
Market Sizing of Market Access Sub vertical: The Market Access for Framers segment in the Indonesia AgriTech market grew at a CAGR of xx% during 2016 and 2021. Startups like 8 villages, Fishlog, Sgara, and Koltiva are helping farmers to access the market.
Market Sizing of Agritech Sub vertical: The Agritech segment in the Indonesia grew at a CAGR of 59.0% during 2016 and 2021 generating a revenue of USD 58 million in 2021.
AgriTech startups like Neurafarm, TaniHub, and Aruna are disrupting and reshaping long-established relationships across value chains and building entirely new ecosystems.
Market Sizing of Agri Biotech Sub vertical: The Agri Biotech segment in the Indonesia grew at a CAGR of xx% during 2016 and 2021 generating a revenue of USD xx million in 2021. Agri-biotech startups like Pandawa Agri, Magalarva are improving plant & animal production and create new & advanced products using biotechnology.
Indonesia Agritech Market Segmentation
The number of startups operating in the Agritech space in Indonesia can be segmented on the basis of the business category they operate in, year of establishment, on the basis of geography, type of funding stage, and type of funding entity.
Some of the major funding rounds in the Indonesian Agritech space include Tanihub's latest funding round of more than 65 million USD at the Series B stage.
The integrated Fishery startup Aruna which raised around 30 million USD at the Series B stage.
All the xx Startups are funded by Private Equity Venture Capitalist and none is funded by Angel Investors. Examples are: Kandang, Kedai Sayur, eFishery, etc.
Government Initiatives
The idea is to establish a central repository of all agricultural data in the country, to inform development planning, unlock efficiencies, and improve productivity outcomes. The government of Indonesia has been very active in digitalizing the agriculture sector in the country and has taken many initiatives to bring the digital transformation.
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Sub Vertical Analysis: Faas
Trends: Increased time spent online due to COVID-19 induced lockdowns: Most start-ups providing online services have witnessed an increase in user activity throughout COVID lockdowns.
Improved access to digital services has widespread implications for both public and private sector enterprises.
Demand Analysis: There has been a strong increase in demand for the services provided by FaaS startups in the last five years, which is mostly due to the increase in smartphone and internet penetration in Indonesia. Along with that, more people have started caring about how their food is grown and whether it is grown in a sustainable manner or not, this demand gap is largely filled by the new startups.
Service Portfolio: Indonesian Startups in the FaaS space mostly focus on restructuring the conventional farm to table and pond to table logistical models, which have a large number of intermediaries present in them who often engage in manipulative strategies to increase profits. Some startups have a prominent aspect to them which is linked to one or more Sustainable Development Goals (SDG's) created by the United Nations for societal welfare.
Competition Structure: The competition structure is monopolistic, with Sayurbox having xx% of market share and Tanisupply, Aruna, Limakilo and Agromaret having xx%, xx%, and xx% and xx% market share respectively.
Technology Overview: There is a great difference between the level of technology adoption among FaaS startups, while some startups use SONAR and IoT devices to detect fish clusters, others simply provide an online medium for buyers and sellers to connect either physically or via telephone.
Future Outlook till 2026: Bucking onto the global trend of the rise of ecommerce applications throughout the world due to various factors like ease of convenience, better customer service, wider variety of produce, etc. Indonesian FaaS startups - many of which are forms of ecommerce websites - are expected to grow strongly in the near future.
Case Study: In the FaaS segment, case study of the players Sayurbox and Chilibeli are covered in the report. The parameters covered are: About the company, Products and services, Revenue Model, Revenue in USD Mn, FY’16-FY’21, Problem solved by the company, and its strengths.
Key Segments Covered in Indonesia Agritech Market
Agritech Market Size
Market Size on the basis of revenue generated, FY’16-FY’21
Market size of the 5 sub verticals on the basis of revenue generated, FY’16-FY’21
Market Segmentation
Segmentation of Startups by Business Category (FaaS, Fintech, Market Access, Agritech, Agri Biotech)
Segmentation of Startups by year of establishment (FY’13-FY’20)
Segmentation of Startups by Location Jakarta, Bogor, Bandung, Malang, Yogyakarta, Depok, Setiabudi, Tangerang, Bekasi, Sleman, Lampung, Arcamanik)
Segmentation of Startups by Funding Stage (Pre-Seed, Seed, Series A, Series B, Convertible Note, Grant, Debt Financing)
Segmentation of Startups by Funding Entity (Foreign, Domestic, Both)
Overview of each Sub vertical (FaaS, Fintech, Market Access, Agritech, Agri Biotech) on the basis of
Demand Analysis
Operating Model
Timeline of Major Players
Service Portfolio
Challenges
Competitive Scenario
Cross Comparison between Major Players
Case Study
Future Outlook & Projections
Analyst Recommendations
Key Target Audience
Farming as a Service players
Agri Fintech players
Agritech players
Market Access Players
Agri Biotech players
Farmers/Fishermen
Investors
Regulatory Bodies
Feed, Equipment, Fertilizer Suppliers
Time Period Captured in the Report
Historical Period: FY’16-FY’21
Forecast Period: FY’22-FY’26
Agritech Players in Indonesia
FaaS Players:
Sayurbox
TaniSupply
Aruna
Fintech Players:
TaniFund
eFishery
Koltiva
Market Access Players
8 Villages
Fishlog
Sgara
Agritech Players:
Neurafarm
Dycodex
JALA
Agri Biotech Players:
Pandawa Agri
Magalarva
FistX
Key Topics Covered in the Report
Indonesia Agricultural Sector Overview
Indonesia Agriculture Industry Demographics
Demand Side: Indonesia Agriculture Scenario
Supply Side: Indonesia Agriculture Scenario
Overview of Indonesia Agritech Market
Overview of Digital Tools
Ecosystem of Major Entities in the Indonesia Agritech Market
Agritech Operating Model
Market Sizing of the AgriTech Industry
Market Sizing of the Sub Segments of AgriTech Industry
Segmentation of Startups by Business Category
Segmentation of Startups by year of establishment
Segmentation of Startups by Location
Segmentation of Startups by Funding Stage
Segmentation of Startups by Funding Entity
Trends and Developments in Agritech market
Challenges faced by Agritech Startups
Regulatory Landscape in Agritech market
Major Government Initiatives in Agritech market in Indonesia
Technology Trends in the Agritech Industry
Porter’s Five Forces Analysis of Indonesian Agritech Industry
Growth Drivers in the Agricultural Market in Indonesia
Competition Scenario between sub verticals
Comparison between Technology used in Agritech Space
Overview of sub vertical: FaaS
Overview of sub vertical: Fintech
Overview of sub vertical: Market Access
Overview of sub vertical: Agritech
Overview of sub vertical: Agri Biotech
Demand Analysis of each of the sub verticals
Service Portfolio of each of the sub verticals
Cross Comparison between Major Players
Case Studies (Chilibeli, Sayurbox, TaniFund, Crowde, eFishery, Koltiva, Dycodex, Aruna, Magalarva)
Future Outlook & Projections
Analyst Recommendations
What Lies Ahead for the Agritech Industry?
Technology Roadmap
Industry Speaks
For More Information on the research report, refer to below link: –
Future of Indonesia Agritech Market Outlook
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