Evolving methods of agriculture is driving the growth in Global Indoor Farming Market in the forecast period, 2022-2026.
According to TechSci Research report, “Global Indoor Farming Market By Farming Technique (Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid), By Facility Type (Greenhouse, Indoor Vertical Farm, Container Farm, Others), By Component (Irrigation Component, Lighting, Sensor, Climate Control, Others), By Crop Type (Fruits & Vegetables, Herbs & Greens, Flowers & Ornamentals, Others), By Region, Competition Forecast & Opportunities, 2026”, the global indoor farming market may potentially project an impressive growth in the forecast period, 2022-2026, with an impressive CAGR on the account of rapidly increasing demands for the healthier aspects of agricultural practices. Decreasing availability of the land for the crop cultivation is also driving the growth of the global indoor farming market in the upcoming five years. The demand for the higher yielding crops is also supporting the growth of the global indoor farming market in the next five years. Indoor farming is an agricultural practice that is considered as a part of modern agricultural practices for cultivating crops in healthier environment. This method utilizes artificial lights, and necessary nutrient supplier for the cultivation of various crops. Unlike traditional methods, the crops can be grown round the year and thus it is anticipated to register higher yield than traditional agricultural practices. Rising global population and a consistent demand for sufficient food supplies is also aiding the growth of the market. Rapid urbanization, increasing number of modern infrastructure and demand for the land for same is creating land scarcity further and aiding the growth of the global indoor farming market in the forecast years until 2026.
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The global indoor farming market is segmented by farming technique, facility type, component, crop type, competitional landscape, and regional distribution. Based on facility type, the market is fragmented into greenhouse, indoor vertical farm, container farm, and others. Greenhouse facility for indoor farming is anticipated to hold the largest revenue shares of the market and assert its dominance over the market segment in the upcoming five years on the account of increase in the demand for sustainable food production. Moreover, greenhouse agricultural practices are widespread in the countries where traditional agricultural cropping is not possible. Moreover, in the regions like North America and Asia Pacific the greenhouse facilities are rapidly increasing and thus aiding the growth of the global indoor farming market in the next five years. Indoor vertical farms are gaining popularity in Middle East and Africa region and supporting growth of the global indoor farming market.
Based on farming technique, the market is further bifurcated into hydroponics, aeroponics, aquaponics, soil-based, and hybrid. Soil-based indoor farming is anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of ability of the method to enhance the harvesting cycle of the crop plants as compared to traditional farming method, and thereby support the growth of global indoor farming market in the upcoming five years. Aeroponics indoor farming technique is expected to register the fastest growing CAGR rate in the upcoming five years on the account of its advantages like faster plant growth, enabling the cultivation of more plants or seeds in lesser time than normal conditions, along with computer managed system for releasing moist air at regular intervals. The system does not require frequent use of pesticides, weeding, and other maintenance processes as compared to conventional farming and thus its supporting the growth of global indoor farming market in the future five years of forecast.
Holding the major shares of the global indoor farming market are LumiGrow Inc., Signify Holding BV, Argus Control Systems Ltd., Netafim Ltd, Logiqs BV, Richel Group, Vertical Farm Systems, General Hydroponics, Inc., Heliospectra AB, Bright Farms Inc., Bowery Farming Inc., FreshBox Farms, Metropolis Farms Inc., Village Farms International Inc., Green Sense Farms LLC, among others. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through indoor farming. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“Asia Pacific region is expected to hold the largest revenue shares of the market in the future five years and the growth can be accounted to rising demand for the technological advancement ion the agricultural sector in the countries like India, Taiwan, Singapore, etc. Moreover, these countries are experiencing increased investment from private overseas businesses in the agriculture sector along with the government’s favorable initiatives thereby supporting the growth of the global indoor farming. Modernization of the crop management techniques are in demand in the region and further ensuring the growth of the global indoor farming market,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Indoor Farming Market By Farming Technique (Hydroponics, Aeroponics, Aquaponics, Soil-Based, Hybrid), By Facility Type (Greenhouse, Indoor Vertical Farm, Container Farm, Others), By Component (Irrigation Component, Lighting, Sensor, Climate Control, Others), By Crop Type (Fruits & Vegetables, Herbs & Greens, Flowers & Ornamentals, Others), By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of global indoor farming and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global indoor farming market.