Indoor Farming Market Poised for Robust Growth, Forecasted to Expand at 11.2% CAGR from 2023-28
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Indoor Farming Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28.
Report Coverage
This report offers a comprehensive analysis of the Indoor Farming Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2022
- Forecast Years: 2023-28
- Historical Years: 2018-21
Indoor Farming Market Overview
The World Bank Group reports that the average amount of arable land per person decreased from 0.197 hectares in 2013 to 0.192 hectares in 2016. The loss of agricultural land has primarily been brought about by its redistribution for non-agricultural uses, including urbanization, highways, industry and housing, as well as soil erosion and pollution in many developing countries.
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Indoor Farming Market Segmentation Outlook
The Indoor Farming is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Type
- Hydroponics Farming
- Aeroponics Farming
- Aquaponics Farming
- Vertical Farming
By Facility
- Greenhouses
- Container Farms
- Indoor Vertical Farms
- Indoor Deep Water Culture
By Component
- Hardware
- Climate Control Systems
- Lighting Systems
- Sensors
- Irrigation Systems
- Software
- Web-Based
- Cloud-Based
By Crop
- Fruits and Vegetables
- Tomato
- Lettuce
- Bell & Chili Peppers
- Strawberry
- Cucumber
- Others (Leafy Greens, Kale)
- Herbs and Microgreen
- Herbs
- Tarragon
- Wheatgrass
- Others (Basil, Bay)
- Flowers and Ornamentals
- Annuals
- Perennials
- Ornamentals
- Others (Orchids, Succulents)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Indoor Farming Market D/C/T/o
Decreased Cultivable Area Globally, Prompting The Repurposing of Existing Agricultural Land. – Unfavorable weather conditions like droughts, soil erosion, floods, and intensive pesticide usage, which are the prominent causes of the decreased cultivable area, have led to reduced yield over time. Growing crops indoors is the best way to address this severe concern affecting soil fertility globally. In addition, it creates new arable land, subsequently increasing the output and productivity of existing agricultural land. With innovative methods like Hydroponics Farming, Aeroponics Farming, Aquaponics Farming, and Vertical Farming, indoor methods are anticipated to gain traction and drive the market during the forecast period.
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Top Indoor Farming Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies Aessense Corporation, Argus Control Systems Limited, Bowery Farming Inc, BrightFarms, Certhon, Crop One Holdings, Inc., General Hydroponics, Green Sense Farms Holdings, Inc., Metropolis Farms Inc, Netafim, Priva, Richel Group, Signify Holdings, Village Farms International Inc, Windset Farms, Others as key players shaping the market landscape.
Indoor Farming Market News
- In July 2022, Crop One Holdings, Inc., in partnership with Emirates Flight Catering, announced the official opening of Emirates Crop One (ECO 1), the world’s largest vertical farm in Dubai, United Arab Emirates. The more than 330,000-square-foot facility spans 175 yards and aims to produce over 2 million pounds of high-quality leafy greens annually.
- In addition, the farm claim to use 95% less water than field-grown produce and guarantees an output of three tons per day.In May 2021, In Hendersonville, North Carolina, BrightFarms opened its newest indoor farm. 2 million pounds of lettuce are anticipated to be produced annually in the 6-acre greenhouse.
- In April 2021, Chilean B corporation Hortifrut SA, a partner of Aerofarms, was established. The alliance is anticipated to concentrate on studying and advancing the production of blueberries and cranberries in fully-regulated vertical farms and indoor settings.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2028?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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