
GCC Indoor Farming Market
Description
GCC Indoor Farming Market
GCC Indoor Farming Market Size Set More Than Doubles at Robust CAGR of 13.1% to Reach USD 1.43 Billion by 2029
GCC indoor farming market is flourishing due to a growing demand for fresh, locally grown produce, sustainability concerns, and government support for agricultural diversification.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC indoor farming market size at USD 602.73 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC indoor farming market size to grow at a robust CAGR of 13.1% reaching a value of USD 1,426.79 million by 2029. GCC indoor farming market is influenced by several driving factors. The region's arid climate and water scarcity issues are pushing for sustainable agriculture solutions, making indoor farming an attractive option. Also, the growing awareness of food security concerns is driving investments in local food production. Advancements in technology, such as vertical farming and hydroponics, are improving the feasibility and efficiency of indoor farming in the GCC. Further, government initiatives, subsidies, and favorable policies to promote agricultural diversification contribute to market growth. Overall, the GCC indoor farming market is driven by the need for sustainable, local food production and technological innovations.
Indoor Farming – Overview
Indoor farming, also known as vertical farming or controlled environment agriculture, is a modern agricultural method that cultivates crops indoors, typically in stacked layers or controlled environments like greenhouses. It utilizes advanced technologies such as hydroponics, aeroponics, and LED lighting to optimize growing conditions, allowing year-round cultivation regardless of external climate. Indoor farming minimizes water usage, reduces pesticide requirements, and decreases transportation distances, making it more sustainable and efficient. This innovative approach holds promise for increasing food production, improving crop yields, and addressing challenges posed by population growth, climate change, and urbanization while also reducing the environmental footprint of traditional agriculture.
Impact of COVID-19 on GCC Indoor Farming Market
GCC indoor farming market experienced significant COVID-19 impacts. Lockdowns disrupted supply chains and labor availability, causing supply shortages and increased operational costs. However, the pandemic also accelerated interest in indoor farming due to its resilience to external factors. Consumers sought locally grown, safe produce, boosting demand. Also, government initiatives promoting food security and sustainability further fueled growth. Innovations in technology and automation were embraced to enhance productivity and reduce reliance on manual labor. Despite initial challenges, the GCC indoor farming market adapted and expanded, with the pandemic catalyzing the industry's development and long-term potential.
GCC Indoor Farming Market – By Growing Mechanism
By growing mechanism, GCC indoor farming market is divided into Aeroponics, Hydroponics, and Aquaponics segments. Aeroponics holds a significant presence, offering innovative cultivation techniques. Hydroponics, another prominent segment, involves soil-less cultivation, while aquaponics combines aquaculture and hydroponics for sustainable farming. These segments collectively shape the growing landscape of indoor farming in the Gulf Cooperation Council (GCC) region, catering to the increasing demand for year-round, efficient, and resource-conscious agricultural practices.
Competitive Landscape
GCC indoor farming market is fiercely competitive. Major companies in the market include Argus Control Systems Ltd, Certhon, Richel Group, Netafim, General Hydroponics, Hydrodynamics International, Illumitex, Lumigrow, Signify Holding, and Bowery Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in GCC indoor farming market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of GCC Indoor Farming Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in GCC Indoor Farming Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
200 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. GCC Indoor Farming Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increase in year-round crop production
- 3.2.1.2. Reduced pesticide use
- 3.2.2. Restraints
- 3.2.2.1. High initial investment
- 3.2.3. Opportunities
- 3.2.3.1. Advancement in technology
- 3.2.4. Challenges
- 3.2.4.1. Limited crop variety
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. GCC Indoor Farming Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Facility Type
- 4.2.1.1. Greenhouses
- 4.2.1.2. Vertical Farms
- 4.2.1.3. Others
- 4.2.2. By Component
- 4.2.2.1. Hardware
- 4.2.2.2. Software
- 4.2.2.3. Services
- 4.2.3. By Growing Mechanism
- 4.2.3.1. Aeroponics
- 4.2.3.2. Hydroponics
- 4.2.3.3. Aquaponics
- 4.2.4. By Crop Category
- 4.2.4.1. Fruits, Vegetables, and Herbs
- 4.2.4.2. Flowers & Ornamentals
- 4.2.4.3. Others
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Products
- 5.2. GCC Indoor Farming Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of COVID-19 on GCC Indoor Farming Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Argus Control Systems Ltd
- 7.2. Certhon
- 7.3. Richel Group
- 7.4. Netafim
- 7.5. General Hydroponics
- 7.6. Hydrodynamics International
- 7.7. Illumitex
- 7.8. Lumigrow
- 7.9. Signify Holding
- 7.10. Bowery Inc.
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Country
- 9.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 GCC Indoor Farming Segmentation
- Figure 2 GCC Indoor Farming Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 GCC Indoor Farming Market Size, By Value (USD Million), 2019–2029
- Figure 5 GCC Indoor Farming Market Share, By Facility Type, By Value, 2019–2029
- Figure 6 GCC Indoor Farming Market Share, By Component, By Value, 2019–2029
- Figure 7 GCC Indoor Farming Market Share, By Growing Mechanism, By Value, 2019–2029
- Figure 8 GCC Indoor Farming Market Share, By Crop Category, By Value, 2019–2029
- List of Tables
- Table 1 GCC Indoor Farming Market Size, By Value (USD Million), 2019–2029
- Table 2 GCC Indoor Farming Market Size, By Facility Type, By Value, 2019–2029
- Table 3 GCC Indoor Farming Market Size, By Component, By Value, 2019–2029
- Table 4 GCC Indoor Farming Market Size, By Growing Mechanism, By Value, 2019–2029
- Table 5 GCC Indoor Farming Market Size, By Crop Category, By Value, 2019–2029
- Table 6 Argus Control Systems Ltd Company Overview
- Table 7 Argus Control Systems Ltd Financial Overview
- Table 8 Certhon Company Overview
- Table 9 Certhon Financial Overview
- Table 10 Richel Group Company Overview
- Table 11 Richel Group Financial Overview
- Table 12 Netafim Company Overview
- Table 13 Netafim Financial Overview
- Table 14 General Hydroponics Company Overview
- Table 15 General Hydroponics Financial Overview
- Table 16 Hydrodynamics International Company Overview
- Table 17 Hydrodynamics International Financial Overview
- Table 18 Illumitex Company Overview
- Table 19 Illumitex Financial Overview
- Table 20 Lumigrow Company Overview
- Table 21 Lumigrow Financial Overview
- Table 22 Signify Holding Company Overview
- Table 23 Signify Holding Financial Overview
- Table 24 Bowery Inc. Company Overview
- Table 25 Bowery Inc. Financial Overview
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