Industry Overview:
According to latest report by IMARC Group, titled “Indoor Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the indoor farming market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global indoor farming market size reached US$ 17.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.5 Billion by 2028, exhibiting a growth rate (CAGR) of 10.4% during 2023-2028.
Indoor farming, also called indoor gardening and vertical farming, represents a part of modern agriculture for growing crops in a protected environment. It uses a combination of artificial lighting and hydroponics to provide nutrients and light required for the growth of plants. As compared to conventional agriculture, indoor farming provides faster growth of the plant, higher productivity, reduced resource consumption, lesser use of pesticides, better food safety, etc. It also eliminates wastewater by recycling throughout the operation, saves energy, reduces risks in the food supply chain, etc. Consequently, indoor farming is gaining extensive traction across the globe.
Global Indoor Farming Market Growth:
The growing instances of droughts, floods, and other natural disasters and the increasing consumer concerns towards food security are primarily driving the indoor farming market. Additionally, the development of high-tech, fully controlled, and semi-automated greenhouse facilities in rural areas and the widespread adoption of environmentally friendly farming practices are further catalyzing the market growth.
Besides this, the escalating demand for secure and consistent food supplies and the inflating popularity of indoor farming, as it aids in minimizing the use of chemical pesticides and bolstering the production of organic yields, are acting as significant growth-inducing factors.
Moreover, several technological advancements in farming sensors, monitoring, and regulating devices are positively influencing the global market. Apart from this, farmers are introducing indoor facilities closer to urban areas to create a local, stable, and sustainable year-round food supply, which is also stimulating the market growth. Furthermore, the expanding agriculture industry is anticipated to fuel the indoor farming market over the forecasted period.
Competitive Landscape with Key Players:
- AeroFarms
- Agricool
- Agrilution Systems GmbH
- AutoGrow Systems Ltd.
- Bowery Farming
- Bright Farms Inc. (Cox Enterprises, Inc.).
- Freight Farms
- FreshBox Farms
- Garden Fresh Farms
- Green Sense Farms Holdings, Inc.
- Logiqs B.V.
- Plenty Unlimited, Inc.
- SananBio
- Sky Greens
- SPREAD Co., Ltd.
- Urban Crop Solutions
- Voeks Inc.
Also, Read the Full Blog: Top Indoor Farming Companies:
Key Market Segmentation:
Facility Type:
- Greenhouse
- Indoor Vertical Farms
- Container Farms
- Indoor Deep Water Culture
- Others
Crop Type:
- Fruits, Vegetables and Herbs
- Lettuce
- Spinach
- Kale
- Tomato
- Herbs
- Bell and Chilli Peppers
- Strawberry
- Cucumber
- Others
- Flowers and Ornamentals
- Annuals
- Perennials
- Ornamentals
- Others
- Others
Component:
- Hardware
- Structure
- LED Lights
- HVAC
- Climate Control System
- Irrigation Systems
- Others
- Software
- Web-based
- Cloud-based
Growing System:
- Aeroponics
- Hydroponics
- Aquaponics
- Soil-based
- Hybrid
Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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