Indoor Farming Market Research Report
Global Indoor Farming Market:
As per GMI Research's latest analysis, the global Indoor Farming market reveals that the market is slated to register a higher CAGR over the forecast period. The increasing adoption of the indoor farming method across various countries, continuous technological advancements, and the introduction of IoT in the indoor farming method.
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Global Indoor Farming Market’s leading
Manufacturers:
·
Everlight Electronics Co., Ltd.
·
Signify Holding
·
Netafim
·
Argus Control Systems Limited
·
Logiqs B.V.
·
LumiGrow
·
Vertical Farm Systems
·
Illumitex
·
General Hydroponics
·
Hydrodynamics International
Global Indoor Farming Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The indoor farming
market is projected to grow at a significant rate over the upcoming years
due to the accelerating adoption of indoor farming as it provides numerous
remarkable benefits when compared with the traditional methods of farming. The
indoor farming method helps in improving efficiency and allows farming in a
limited space. Moreover, continuous technological advancements and research
& development activities in indoor farming, including the introduction of
IoT, are improving the optimization in food production, thus surging the market
growth.
The rising population growth rate followed by rapid
urbanization has been increasing the demand for food products. Furthermore, the
rising number of initiatives launched by the government bodies to offer
subsidies and support programs for the adoption of indoor farming with an aim
to decrease the use of water and improve the efficiency in production is
another factor that is having a positive impact on the market growth. For
example, USDA and the Department of Energy held a stakeholder workshop to
increase the adoption of vertical agriculture and to identify the needs,
challenges, and opportunities for vertical farming. On the other hand, the high
requirement of initial investments and lack of skilled personnel are the two
major factors that are hampering the growth of the indoor farming market
size.
As per the indoor farming market report, the outbreak of the
COVID-19 pandemic has impacted the global indoor farming market, particularly
in 2020. The growing number of farmers who are declining to go to field areas
as there is unavailability of facemasks to maintain social distancing is one of
the major factors that is surging the adoption of indoor farming practices.
Moreover, the farmers are increasingly opting for vertical indoor farming to
deal with issues such as organic crop, close to the area of consumption, less
contact of the crop with the external environment, and less usage of natural
resources.
Facility
Type Segment Drivers
Based on the
facility type, the indoor vertical farms segment is projected to dominate the
market during the forecast period. This is mainly due to the rising use of
vertical farms for indoor farming across different countries as it optimizes
energy consumption, the use of no pesticides or herbicides, and improves crop
yield. In addition to this, various technological advancements along with the
shift in the consumer’s preference towards organic food products will further surge
the market growth.
Global Indoor Farming Market Segmentation:
Segmentation
by Growing System:
·
Hydroponics
·
Aeroponics
·
Soil-Based
·
Aquaponics
·
Hybrid
Segmentation
by Facility Type:
·
Indoor Vertical Farms
·
Glass or Poly Greenhouses
·
Indoor Deep Water Culture (DWC) Systems
·
Container Farms
Segmentation
by Component:
·
Hardware
o
Lighting Systems
o
Climate Control Systems
o
Sensors
o
Communication Systems
o
Irrigation Systems
o
System Controls
o
Others
·
Software & Services
Segmentation
by Crop Type:
·
Herbs & Microgreens
o
Herbs
o
Basil
o
Wheatgrass
o
Tarragon
·
Fruits & Vegetables
o
Tomato
o
Leafy Greens
§
Kale
§
Lettuce
§
Spinach
§
Others
o
Eggplant
o
Strawberry
o
Others
·
Flowers & Ornamentals
o
Annuals
o
Perennials
o
Ornamentals
·
Others
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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