The global Indoor Farming Market size is estimated to reach USD 88,478.9 million by 2030, exhibiting a CAGR of 12.9% from 2023 to 2030, according to the new report conducted by Grand View Research, Inc. The increasing demand for food owing to the rising population is expected to drive the growth. Factors such as declining water supply, urbanization, and climate change have contributed to the loss of arable land. This, in turn, is driving demand for indoor farms to produce food. In addition, challenges, such as rising global temperature and extreme weather conditions, act as a barrier to the traditional farming technique. The European Environment Agency (EEA) has carried out several initiatives to build vertical farms to overcome these challenges and produce food in an eco-friendly way.
Indoor
farming increases the crop yield and reduces the farming impact on the
environment by reducing the distance traveled in the supply chain. It reduces
the need for the land space required to grow plants compared to traditional
farming methods by using growing shelves mounted vertically. Rising consumer
awareness regarding the consumption of healthy and fresh food is anticipated to
positively influence the market for indoor farming during the forecast period.
Furthermore, the use of technology, such as LED indoor farming, to create
nature-like conditions will help farmers meet the expected demand for food
supply in the near future.
Europe
dominated the market in 2022 and is anticipated to remain dominant over the
forecast period, owing to the continuous adoption of advanced technologies such
as LED lighting, and controlled environment agriculture. Asia Pacific is
expected to exhibit the fastest CAGR from 2023 to 2030, owing to the increasing
indoor farms in countries such as China and Japan. Increasing adoption of greenhouses
and vertical farms is expected to support regional growth. In addition, the
rising demand for pesticide-free, fresh vegetables and fruits is expected to
fuel the regional market growth.
List of Key Players of the Indoor Farming Market
- Argus
Control Systems Ltd.
- Certhon
- Richel Group
- Netafim
- General
Hydroponics
- Hydrodynamics
International
- Illumitex
- Lumigrow
Related Press
Release@ Indoor
Farming Market Report
Indoor Farming Market Report Highlights
- The
greenhouses segment dominated the market in terms of revenue in 2022, as
these facilities produce higher yields. Greenhouses offer a stable and
highly controlled environment for the cultivation of flowers, vegetables,
and fruits
- By growing
mechanism, the aeroponics segment is expected to observe considerable
growth over the forecast period as the aeroponics facilitate fast growth
in plants (under normal conditions)
- The fruits,
vegetables, and herbs segment is estimated to register the fastest CAGR
over the forecast period, owing to the increasing food consumption along
with growing consumer awareness regarding the importance of healthy
eating, especially in regions such as Europe and Asia Pacific
- The climate
control systems segment is projected to expand at the highest CAGR during
the forecast period, as crop development can be controlled by adjusting
and monitoring the concentration of minerals
Indoor Farming Market Report
Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 37,880.0 million |
|
Revenue forecast in 2030 |
USD 88,478.9 million |
|
Growth rate |
CAGR of 12.9% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2017 - 2021 |
|
Forecast period |
2023 - 2030 |
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Indoor Farming Market Segmentation
Grand
View Research has segmented the global indoor farming market based on facility
type, component, growing mechanism, crop category, and region:
Indoor Farming Facility Type Outlook (Revenue, USD Million,
2017 - 2030)
- Greenhouses
- Vertical
Farms
- Shipping
Container
- Building-based
- Others
Indoor Farming Component Outlook (Revenue, USD Million,
2017 - 2030)
- Hardware
- Climate
Control Systems
- Lighting
Systems
- Sensors
- Irrigation
Systems
- Software
- Web-based
- Cloud-based
- Services
- System
Integration & Consulting
- Managed
Services
- Assisted
Professional Services
Indoor Farming Growing Mechanism Outlook (Revenue, USD
Million; 2017 - 2030)
- Aeroponics
- Hydroponics
- Aquaponics
Indoor Farming Crop Category Outlook (Revenue, USD
Million, 2017 - 2030)
- Fruits,
Vegetables, & Herbs
- Tomato
- Lettuce
- Bell &
Chili Peppers
- Strawberry
- Cucumber
- Leafy
Greens
- Herbs
- Others
- Flowers
& Ornamentals
- Perennials
- Annuals
- Ornamentals
- Others
Indoor Farming Regional Outlook (Revenue, USD Million,
2017 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Asia Pacific
- China
- Japan
- India
- South
America
- Brazil
- Middle East
and Africa (MEA)
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
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