Indoor Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Indoor Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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 is a part of modern agriculture for growing crops in a protected environment. The market for Indoor farming is increasing globally catalyzed by the rising world population and a consequent demand for building secure and consistent food supplies. Conventional agriculture is locationally tied to areas with sufficient land and water. As the amount of vacant arable land and water to support conventional agriculture is dwindling, the demand of indoor farming is increasing as it is decoupled from such needs and can be located closer to end consumption.
The scarcity of land for farming across the world is one of the primary factors catalyzing indoor farming growth. As the global population continues to develop and urbanize, farmers are opening indoor facilities closer to these urban areas creating a local, stable, and sustainable year-round food supply. In addition to this, the increasing instances of droughts, floods, and other natural disasters across the globe have raised concerns over food security. This, in turn, has prompted the growth of indoor agriculture in such countries. Moreover, high-tech, fully controlled, and semi-automated greenhouse facilities in rural areas and its environmentally friendly farming practices have also driven the market demand for indoor farming. Furthermore, the growth in technological advancements in farming sensors, monitoring, and regulating devices for each aspect of cultivation has further propelled the growth of this market. Additionally, this technique enables food production in a sustainable surrounding without chemical pesticides, hence increasing the production for organic yields, which is currently in strong demand from the consumer end.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global indoor farming market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on facility type, crop type, component and growing system.
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:
Asia Pacific
China
Japan
Singapore
South Korea
Others
North America
United States
Canada
Europe
Netherlands
Germany
United Kingdom
France
Italy
Others
Latin America
Mexico
Brazil
Others
Middle East & Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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, and Voeks Inc.
Key Questions Answered in This Report
1. What was the size of the global indoor farming market in 2022?
2. What is the expected growth rate of the global indoor farming market during 2023-2028?
3. What are the key factors driving the global indoor farming market?
4. What has been the impact of COVID-19 on the global indoor farming market?
5. What is the breakup of the global indoor farming market based on the facility type?
6. What is the breakup of the global indoor farming market based on the crop type?
7. What is the breakup of the global indoor farming market based on the component?
8. What is the breakup of the global indoor farming market based on the growing system?
9. What are the key regions in the global indoor farming market?
10. Who are the key players/companies in the global indoor farming 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 is a part of modern agriculture for growing crops in a protected environment. The market for Indoor farming is increasing globally catalyzed by the rising world population and a consequent demand for building secure and consistent food supplies. Conventional agriculture is locationally tied to areas with sufficient land and water. As the amount of vacant arable land and water to support conventional agriculture is dwindling, the demand of indoor farming is increasing as it is decoupled from such needs and can be located closer to end consumption.
The scarcity of land for farming across the world is one of the primary factors catalyzing indoor farming growth. As the global population continues to develop and urbanize, farmers are opening indoor facilities closer to these urban areas creating a local, stable, and sustainable year-round food supply. In addition to this, the increasing instances of droughts, floods, and other natural disasters across the globe have raised concerns over food security. This, in turn, has prompted the growth of indoor agriculture in such countries. Moreover, high-tech, fully controlled, and semi-automated greenhouse facilities in rural areas and its environmentally friendly farming practices have also driven the market demand for indoor farming. Furthermore, the growth in technological advancements in farming sensors, monitoring, and regulating devices for each aspect of cultivation has further propelled the growth of this market. Additionally, this technique enables food production in a sustainable surrounding without chemical pesticides, hence increasing the production for organic yields, which is currently in strong demand from the consumer end.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global indoor farming market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on facility type, crop type, component and growing system.
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:
Asia Pacific
China
Japan
Singapore
South Korea
Others
North America
United States
Canada
Europe
Netherlands
Germany
United Kingdom
France
Italy
Others
Latin America
Mexico
Brazil
Others
Middle East & Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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, and Voeks Inc.
Key Questions Answered in This Report
1. What was the size of the global indoor farming market in 2022?
2. What is the expected growth rate of the global indoor farming market during 2023-2028?
3. What are the key factors driving the global indoor farming market?
4. What has been the impact of COVID-19 on the global indoor farming market?
5. What is the breakup of the global indoor farming market based on the facility type?
6. What is the breakup of the global indoor farming market based on the crop type?
7. What is the breakup of the global indoor farming market based on the component?
8. What is the breakup of the global indoor farming market based on the growing system?
9. What are the key regions in the global indoor farming market?
10. Who are the key players/companies in the global indoor farming market?
Table of Contents
148 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Indoor farming Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Facility Type
- 6.1 Greenhouse
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Indoor Vertical Farms
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Container Farms
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Indoor Deep Water Culture
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 7 Market Breakup by Crop Type
- 7.1 Fruits, Vegetables, and Herbs
- 7.1.1 Lettuce
- 7.1.1.1 Market Trends
- 7.1.1.2 Market Forecast
- 7.1.2 Spinach
- 7.1.2.1 Market Trends
- 7.1.2.2 Market Forecast
- 7.1.3 Kale
- 7.1.3.1 Market Trends
- 7.1.3.2 Market Forecast
- 7.1.4 Tomato
- 7.1.4.1 Market Trends
- 7.1.4.2 Market Forecast
- 7.1.5 Herbs
- 7.1.5.1 Market Trends
- 7.1.5.2 Market Forecast
- 7.1.6 Bell and Chilli Peppers
- 7.1.6.1 Market Trends
- 7.1.6.2 Market Forecast
- 7.1.7 Strawberry
- 7.1.7.1 Market Trends
- 7.1.7.2 Market Forecast
- 7.1.8 Cucumber
- 7.1.8.1 Market Trends
- 7.1.8.2 Market Forecast
- 7.1.9 Others
- 7.1.9.1 Market Trends
- 7.1.9.2 Market Forecast
- 7.2 Flowers and Ornamentals
- 7.2.1 Annuals
- 7.2.1.1 Market Trends
- 7.2.1.2 Market Forecast
- 7.2.2 Perennials
- 7.2.2.1 Market Trends
- 7.2.2.2 Market Forecast
- 7.2.3 Ornamentals
- 7.2.3.1 Market Trends
- 7.2.3.2 Market Forecast
- 7.2.4 Others
- 7.2.4.1 Market Trends
- 7.2.4.2 Market Forecast
- 7.3 Others
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 8 Market Breakup by Component
- 8.1 Hardware
- 8.1.1 Structure
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 LED Lights
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.3 HVAC
- 8.1.3.1 Market Trends
- 8.1.3.3 Market Forecast
- 8.1.4 Climate Control System
- 8.1.4.1 Market Trends
- 8.1.4.2 Market Forecast
- 8.1.5 Irrigation System
- 8.1.5.1 Market Trends
- 8.1.5.2 Market Forecast
- 8.1.6 Others
- 8.1.6.1 Market Trends
- 8.1.6.2 Market Forecast
- 8.2 Software
- 8.2.1 Web-based
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Cloud-based
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 9 Market Breakup by Growing System
- 9.1 Aeroponics
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Hydroponics
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Aquaponics
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Soil-based
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Hybrid
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 10 Market Breakup by Region
- 10.1 Asia Pacific
- 10.1.1 China
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Japan
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.3 Singapore
- 10.1.3.1 Market Trends
- 10.1.3.2 Market Forecast
- 10.1.4 South Korea
- 10.1.4.1 Market Trends
- 10.1.4.2 Market Forecast
- 10.1.5 Others
- 10.1.5.1 Market Trends
- 10.1.5.2 Market Forecast
- 10.2 North America
- 10.2.1 United States
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Canada
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.3 Europe
- 10.3.1 Netherlands
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 Germany
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 France
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Italy
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Others
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.4 Latin America
- 10.4.1 Mexico
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Brazil
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.3 Market Forecast
- 10.5 Middle East & Africa
- 10.5.1 Market Trends
- 10.5.2 Breakup by Country
- 10.5.3 Market Forecast
- 11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
- 12 Value Chain Analysis
- 13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
- 14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 AeroFarms
- 14.3.2 Agricool
- 14.3.3 Agrilution Systems GmbH
- 14.3.4 Autogrow Systems Ltd
- 14.3.5 Bowery Farming Inc.
- 14.3.6 Bright Farms, Inc. (Cox Enterprises, Inc.)
- 14.3.7 Freight Farms
- 14.3.8 FreshBox Farms
- 14.3.9 Garden Fresh Farms
- 14.3.10 Green Sense Farms Holdings, Inc.
- 14.3.11 Logiqs B.V.
- 14.3.12 Plenty Unlimited, Inc.
- 14.3.13 SananBio
- 14.3.14 Sky Greens
- 14.3.15 SPREAD Co., Ltd
- 14.3.16 Urban Crop Solutions
- 14.3.17 Voeks Inc.
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