It is anticipated that by 2032, the worldwide Indoor Farming Market will have grown significantly and will be worth $72,276.7 million. The market is driven by factors like the rising global population, shrinking arable land, adoption of controlled growing environments, significant investments from public and private players, and the increased focus on health and safety in the wake of the COVID-19 pandemic, with a steady annual growth rate of 11.5% during the forecast period of 2022-2032.
The need for food is increasing along with the world population. However, limitations on arable land and unpredictability of weather provide difficulties for conventional farming techniques. With the use of controlled settings, indoor farming, also known as vertical farming, offers a sustainable option. With improvements in agricultural practises and technology, indoor farming is now a viable option for supplying the expanding global food demand since it allows for year-round production, optimal resource use, and reduced reliance on outside elements like weather.
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In recent years, there has been an increase in the use of controlled growing environments, such as vertical farming, hydroponics, and aquaponics. Numerous benefits are provided by these systems, including increased crop yields, effective land use, water saving, and defence against pests and diseases. Indoor farming also makes it possible to precisely monitor and regulate environmental elements like temperature, humidity, and lighting, which optimises plant growth and reduces resource waste. As a result, both public and private actors have made large investments, thus fueling the growth of the indoor farming business.
The significance of safe and secure food has been highlighted by the COVID-19 epidemic. Demand for locally grown, pesticide-free, and sustainable produce has expanded as customers place more importance on their health and wellbeing. A controlled and secure atmosphere created by indoor farming lowers the risk of contamination and guarantees a steady supply of fresh vegetables. This has sped up the adoption of indoor farming techniques and is anticipated to fuel industry expansion in the years to come.
Highlighted with 188 tables and 102 figures, this 205-page report “Global Indoor Farming Market 2022-2032 by Offering (Hardware, Software & Service, Integrated Systems), Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-based, Hybrid), Facility Type (Greenhouses, Vertical, Container, DWC), Crop Type (Fruits and Vegetables, Herbs and Microgreens, Flowers and Ornamentals, Others), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global indoor farming market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global indoor farming market in every aspect of the classification from perspectives of Offering, Growing System, Facility Type, Crop Type, and Region.
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Based on Offering, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Hardware
o Climate Control Systems
o Irrigation Systems
o Lighting
o Sensors
o Communication
o Other Hardware
- Software & Service
o Web-based
o Cloud-based
- Integrated Systems
Based on Growing System, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Aeroponics
- Hydroponics
- Aquaponics
- Soil-based
- Hybrid
By Facility Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Glass or Poly Greenhouses
- Indoor Vertical Farms
- Container Farms
- Indoor Deep Water Culture (DWC) Systems
- Other Facility Types
By Crop Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
- Fruits and Vegetables
o Leafy Vegetables
o Tomato
o Strawberry
o Cucumber
o Other Fruits and Vegetables
- Herbs and Microgreens
o Basil
o Herbs
o Tarragon
o Wheatgrass
o Other Herbs and Microgreens
- Flowers and Ornamentals
o Perennials
o Annuals
o Ornamentals
o Other Flowers and Ornamentals
- Other Crop Types
Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (UAE，Saudi Arabia， South Africa and Rest of MEA)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of all regional markets by country and split of each national market by Growing System, Facility Type and Crop Type over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
AeroFarms
American Hydroponics (AmHydro)
Argus Control System Limited
Certhon
Everlight Electronics Co., Ltd.
Freight Farms, Inc.
General Hydroponics Inc. (Hawthorne Gardening Company)
Hydrodynamics International
Illumitex
Logiqs B.V.
LumiGrow Inc.
Netafim Limited
OSRM GmbH
Priva Holdings B.V.
Richel Group
Signify N.V.
Vertical Farm System Pty Ltd.
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