Future Outlook of Indonesia Agritech Market: Ken Research


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 Agritech Market

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.

Indonesia Agritech Market

Indonesia Agritech Market

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


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



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:




Fintech Players:




Market Access Players

8 Villages



Agritech Players:




Agri Biotech Players:

Pandawa Agri



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

Related Reports by Ken Research: –

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)

Indian Used Agricultural Equipment Market Outlook to 2026 (Including Tractors, Harvesters, Power Tillers and Tractor-Attachable Equipment): Driven by rising adoption of small and marginal farmers and government subsidy to increase the demand of used equipment

Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications