PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258838
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258838
Indoor Farming Technology Market Forecasts to 2028 - Global Analysis By Crop Type (Herbs and Microgreens, Fruits and Vegetables, Flowers and Ornamentals and Other Crop Types), Facility Type, Growing System and By Geography
According to Stratistics MRC, the Global Indoor Farming Technology Market is accounted for $17.9 billion in 2022 and is expected to reach $34.3 billion by 2028 growing at a CAGR of 11.4% during the forecast period. The technique of growing food and plants within the home using various technologies is known as indoor farming. This technique combines soil-based, aeroponic, aquaponic, and hybrid technologies to grow plants with enhanced nutrient levels. The present agricultural landscape is being revolutionised by this farming system, which has many advantages over conventional farming practises. Due to the little amount of land needed, indoor farming is well suited for urban areas and is frequently used to grow organic vegetables, fruits, and herbs that are free of any chemical-based pesticides or insecticides.
According to Forbes, by 2050, the world's population is expected to reach 9.7 billion, requiring a 70 percent increase in global food production in the next 30 years to feed everyone. According to The World Bank Group, the overall arable land per capita has declined from 0.197 hectares to 0.192 hectares.
Market Dynamics:
Driver:
Rising adoption of vertical farming practices
Growing in popularity among younger generations, indoor vertical farming has brought in a brand-new age in agriculture. In comparison to other conventional farming techniques, this sort of farming allows crop production optimisation and is more environmentally sustainable and cost-effective. Improved crop growth, reduced water usage, lower labour expenses, and improved energy conservation are driving market expansion.
Restraint:
Disadvantages associated with indoor farming
Various challenges associated with indoor farming are expected to hamper market growth. The need for complex machinery and artificial lights such as LEDs in indoor farming increases electricity usage. Most indoor farms require climate controls, computers, shelving units, water pipes, and other costly equipment. Use of complex processes and lack of skilled workforce are among some of the key factors restraining market growth.
Opportunity:
Increase in demand for local food
Health and nutrition, food safety and transparency, education, urban sustainability, and the rising desire for local foods are the main causes driving popularity. Consumers expect complex claims about a food's health, wellness, ethics, and ecology due to rising technology and health awareness. The production of fruit and vegetables in a limited area and increasing demand for high-quality foods are some of the factors that drive growth on the market.
Threat:
High initial investment
Finding proper facilities and choosing the crops that perform the best inside are expensive ventures that need a substantial financial outlay. Due to the high usage of power, greenhouses and vertical farms both have a higher percentage of operating costs. Equipment prices placed further strain on the budget of many vertical farming enterprises. Hence, these are the factors hampering the growth of the market.
COVID-19 Impact:
The COVID-19 pandemic had a large effect on the world market for indoor agricultural technologies. Due to the corona virus outbreak, indoor farming systems are anticipated to become increasingly popular, particularly in urban regions around the world. There were certain challenges facing the agriculture sector. Due to manpower constraints, several farmers lost their window of opportunity to harvest seasonal crops, benefit from declining agricultural product prices, and avoid disruptions in logistics. Many nations also became aware of their over reliance on food imports and started concentrating on domestic and internal production.
The indoor vertical farms segment is expected to be the largest during the forecast period
The indoor vertical farms segment is estimated to have a lucrative growth, due to they are modular and can be adjusted to fit any building. Vertical farms indoors are made up of vertical growth systems in fully enclosed, opaque rooms that employ artificial lighting. Crops are grown indoors in layers that are piled vertically. With this method, the enclosed structure can be used to manage all environmental conditions.
The aeroponics segment is expected to have the highest CAGR during the forecast period
The aeroponics segment is anticipated to witness the fastest CAGR growth during the forecast period, due to it is key component of indoor farming development. Faster plant growth makes it possible to grow more plants in a shorter amount of time than under normal circumstances. This aeroponics system does not require frequent usage of weeding, pesticides, or other maintenance techniques and may be externally controlled using timers or computers to release moist air at even intervals.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to technological advancements. The rising involvement of foreign business lines in agricultural operations to exclusively meet crop producers' expectations for export-quality products has been expanding in this region. Furthermore, the region's farming business has been moving away from conventional agricultural methods and towards cutting-edge, contemporary ones.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the rising adoption of technologies for indoor farms. The industry is being driven by a growing emphasis on implementing technology like active heat systems and LEDs to increase yield. The regional government is pursuing several initiatives for constructing indoor farms, including expanding population, climate change, and unsustainable food production.
Key players in the market:
Some of the key players profiled in the Indoor Farming Technology Market include: Bowery Inc., Square roots, Richel Group, Argus Control Systems, Gotham Greens, AeroFarms, Signify Holding, American Pasteurization Company, Vertical Farm Systems, Netafim, Metropolis Farms Inc., General Hydroponics, Bright Farms Inc., Green Sense Farms LLC, Village Farms International Inc., Garden Fresh Farms and FreshBox Farms.
Key Developments:
In November 2021, Square Roots and United Natural Foods to Co-locate Indoor Farms at Distribution Centers Across North America. United Natural Foods, Inc. and Square Roots, the technology leader in indoor farming, announced a new agreement to co-locate Square Roots' indoor farms on-site at select UNFI distribution centers.
In January 2019, American Pasteurization Company (APC), a national leader in High Pressure Processing (HPP), has acquired FreshCo Foods, a Milwaukee-based, end-to-end co-manufacturer of premium and specialty food products. As part of the acquisition, FreshCo has been renamed APC Manufacturing.
Crop Types Covered:
- Herbs and Microgreens
- Fruits and Vegetables
- Flowers and Ornamentals
- Other Crop Types
Facility Types Covered:
- Glass or Poly Greenhouse
- Indoor Vertical Farm
- Indoor DWC System
- Container Farm
- Other Facility Types
Growing Systems Covered:
- Hydroponics
- Hybrid
- Aquaponics
- Aeroponics
- Soil-Based
- Other Growing Systems
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Indoor Farming Technology Market, By Crop Type
- 5.1 Introduction
- 5.2 Herbs and Microgreens
- 5.3 Fruits and Vegetables
- 5.4 Flowers and Ornamentals
- 5.5 Other Crop Types
6 Global Indoor Farming Technology Market, By Facility Type
- 6.1 Introduction
- 6.2 Glass or Poly Greenhouse
- 6.3 Indoor Vertical Farm
- 6.4 Indoor DWC System
- 6.5 Container Farm
- 6.6 Other Facility Types
7 Global Indoor Farming Technology Market, By Growing System
- 7.1 Introduction
- 7.2 Hydroponics
- 7.3 Hybrid
- 7.4 Aquaponics
- 7.5 Aeroponics
- 7.6 Soil-Based
- 7.7 Other Growing Systems
8 Global Indoor Farming Technology Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Bowery Inc.
- 10.2 Square roots
- 10.3 Richel Group
- 10.4 Argus Control Systems
- 10.5 Gotham Greens
- 10.6 AeroFarms
- 10.7 Signify Holding
- 10.8 American Pasteurization Company
- 10.9 Vertical Farm Systems
- 10.10 Netafim
- 10.11 Metropolis Farms Inc.
- 10.12 General Hydroponics
- 10.13 Bright Farms Inc.
- 10.14 Green Sense Farms LLC
- 10.15 Village Farms International Inc.
- 10.16 Garden Fresh Farms
- 10.17 FreshBox Farms
List of Tables
- Table 1 Global Indoor Farming Technology Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 3 Global Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 4 Global Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 5 Global Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 6 Global Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 7 Global Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 8 Global Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 9 Global Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 10 Global Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 11 Global Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 12 Global Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 13 Global Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 14 Global Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 15 Global Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 16 Global Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 17 Global Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 18 Global Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 19 Global Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
- Table 20 North America Indoor Farming Technology Market Outlook, By Country (2020-2028) ($MN)
- Table 21 North America Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 22 North America Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 23 North America Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 24 North America Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 25 North America Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 26 North America Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 27 North America Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 28 North America Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 29 North America Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 30 North America Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 31 North America Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 32 North America Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 33 North America Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 34 North America Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 35 North America Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 36 North America Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 37 North America Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 38 North America Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
- Table 39 Europe Indoor Farming Technology Market Outlook, By Country (2020-2028) ($MN)
- Table 40 Europe Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 41 Europe Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 42 Europe Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 43 Europe Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 44 Europe Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 45 Europe Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 46 Europe Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 47 Europe Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 48 Europe Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 49 Europe Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 50 Europe Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 51 Europe Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 52 Europe Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 53 Europe Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 54 Europe Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 55 Europe Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 56 Europe Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 57 Europe Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
- Table 58 Asia Pacific Indoor Farming Technology Market Outlook, By Country (2020-2028) ($MN)
- Table 59 Asia Pacific Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 60 Asia Pacific Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 61 Asia Pacific Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 62 Asia Pacific Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 63 Asia Pacific Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 64 Asia Pacific Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 65 Asia Pacific Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 66 Asia Pacific Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 67 Asia Pacific Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 68 Asia Pacific Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 69 Asia Pacific Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 70 Asia Pacific Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 71 Asia Pacific Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 72 Asia Pacific Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 73 Asia Pacific Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 74 Asia Pacific Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 75 Asia Pacific Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 76 Asia Pacific Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
- Table 77 South America Indoor Farming Technology Market Outlook, By Country (2020-2028) ($MN)
- Table 78 South America Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 79 South America Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 80 South America Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 81 South America Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 82 South America Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 83 South America Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 84 South America Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 85 South America Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 86 South America Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 87 South America Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 88 South America Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 89 South America Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 90 South America Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 91 South America Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 92 South America Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 93 South America Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 94 South America Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 95 South America Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
- Table 96 Middle East & Africa Indoor Farming Technology Market Outlook, By Country (2020-2028) ($MN)
- Table 97 Middle East & Africa Indoor Farming Technology Market Outlook, By Crop Type (2020-2028) ($MN)
- Table 98 Middle East & Africa Indoor Farming Technology Market Outlook, By Herbs and Microgreens (2020-2028) ($MN)
- Table 99 Middle East & Africa Indoor Farming Technology Market Outlook, By Fruits and Vegetables (2020-2028) ($MN)
- Table 100 Middle East & Africa Indoor Farming Technology Market Outlook, By Flowers and Ornamentals (2020-2028) ($MN)
- Table 101 Middle East & Africa Indoor Farming Technology Market Outlook, By Other Crop Types (2020-2028) ($MN)
- Table 102 Middle East & Africa Indoor Farming Technology Market Outlook, By Facility Type (2020-2028) ($MN)
- Table 103 Middle East & Africa Indoor Farming Technology Market Outlook, By Glass or Poly Greenhouse (2020-2028) ($MN)
- Table 104 Middle East & Africa Indoor Farming Technology Market Outlook, By Indoor Vertical Farm (2020-2028) ($MN)
- Table 105 Middle East & Africa Indoor Farming Technology Market Outlook, By Indoor DWC System (2020-2028) ($MN)
- Table 106 Middle East & Africa Indoor Farming Technology Market Outlook, By Container Farm (2020-2028) ($MN)
- Table 107 Middle East & Africa Indoor Farming Technology Market Outlook, By Other Facility Types (2020-2028) ($MN)
- Table 108 Middle East & Africa Indoor Farming Technology Market Outlook, By Growing System (2020-2028) ($MN)
- Table 109 Middle East & Africa Indoor Farming Technology Market Outlook, By Hydroponics (2020-2028) ($MN)
- Table 110 Middle East & Africa Indoor Farming Technology Market Outlook, By Hybrid (2020-2028) ($MN)
- Table 111 Middle East & Africa Indoor Farming Technology Market Outlook, By Aquaponics (2020-2028) ($MN)
- Table 112 Middle East & Africa Indoor Farming Technology Market Outlook, By Aeroponics (2020-2028) ($MN)
- Table 113 Middle East & Africa Indoor Farming Technology Market Outlook, By Soil-Based (2020-2028) ($MN)
- Table 114 Middle East & Africa Indoor Farming Technology Market Outlook, By Other Growing Systems (2020-2028) ($MN)
