Indoor Farming Market Outlook, Growth Opportunities, Emerging Trends, Regional Analysis, Industry Dynamics by Top Players 2023-2028
The latest report published 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 Report. 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 refers to farming done inside a building. It doesn’t require large machinery like tractors and utilizes less water than growing outside. It depends upon other technology types, like cameras and software to grow food inside a building. It allows the farmers to optimize the growing process for better yields. With a growing population and insufficient farmland, indoor farming is used to meet the increasing demand for food worldwide.
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Industry Growth:
The global market is majorly driven by the rising need for improving crop yields. In line with this, the increasing popularity of indoor farming due to its numerous benefits is significantly contributing to the market. Furthermore, the expansion of the indoor farming technology market is offering lucrative opportunities for market growth. Apart from this, the growing consumer awareness regarding the advantages of consuming fresh and high-quality food is creating a positive outlook for the market. Moreover, the escalating population across the globe, especially in emerging economies, is leading to an increase in food demand, which, in turn, is catalyzing the market. Besides, the changing climatic conditions are causing several environmental problems, such as soil degradation and groundwater depletion, which in turn are affecting the food and agriculture production systems. Governments worldwide are promoting building indoor farms and taking other initiatives to overcome this problem, which, in turn, is anticipated to propel the market. Additionally, the improved efficiency offered by indoor farming over traditional farming methods is augmenting the market.
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: Largest Indoor (Vertical) Farming Companies in Worldwide
Key Market Segmentation:
Breakup by Facility Type:
- Greenhouse
- Indoor Vertical Farms
- Container Farms
- Indoor Deep Water Culture
- Others
Breakup by 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
Breakup by Component:
- Hardware
- Structure
- LED Lights
- HVAC
- Climate Control System
- Irrigation Systems
- Others
- Software
- Web-based
- Cloud-based
Breakup by Growing System:
- Aeroponics
- Hydroponics
- Aquaponics
- Soil-based
- Hybrid
Breakup by 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.
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