The Europe Indoor Farming Market size is expected to reach USD 23.26 billion by 2028, registering a CAGR of 10.4% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increase in demand for healthy food in Europe is driving the market growth. Additionally, the rising number of people growing healthy food in their own houses is also a major factor contributing to the growth.
The growing adoption of hydroponic systems in indoor
farming is creating new opportunities for market growth in Europe.
Hydroponics is the practice of growing plants without soil. It offers various
advantages such as fostering strong yields, rapid growth, and 90% less water
usage than traditional methods.
Nowadays, various agri-tech companies in Europe are
increasingly investing in aquaponics farms as they eliminate soil-borne plant
and fish diseases. For instance, in April 2021, Les Nouvelles Fermes, an urban
agriculture company, raised USD 2.36 million to construct urban aquaponics
farms in Europe.
The outbreak of the COVID-19 pandemic has negatively
impacted market growth. Many countries initiated border closures to curb the
spread of the virus, thereby causing interruptions in the supply chain of
indoor farming. Moreover, the suspension of production facilities led to delays
in the supply of agriculture chemicals such as herbicides and pesticides.
However, increase in demand for organic food across the Europe due to pandemic
is anticipated to drive the growth of the market post COVID-19 outbreak.
Related Press Release@ Europe Indoor Farming Market Report
Europe Indoor Farming Market
Report Highlights
- The greenhouses segment dominated the market in 2020. The segment
growth can be attributed to the increase in demand for greenhouses among
farmers as it enables them to enhance the quality and quantity of
agricultural products
- The hardware segment dominated the market in 2020. The segment
growth can be attributed to the rise in demand for hardware among farmers
for maintaining an ideal farm environment
- The fruits, vegetables, and herbs segment dominated the market in
2020. The segment growth can be attributed to the increase in cultivation
of commonly grown fruits and vegetables in greenhouses
- The U.K. dominated the market in 2020 owing to an increase in
number of vertical farms in the country
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