Pune, March 06, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Agriculture market research firm, based out of India, has published competitive intelligence and market research report on “Indoor Farming Market“. The Indoor Farming market size was valued at USD 18.45 Bn in 2021. The total Indoor Farming Market revenue is expected to grow at a CAGR of 11 percent from 2022 to 2029, reaching nearly USD 42.53 Bn during the forecast period.
| Market Size in 2021 | USD 18.45 Bn |
| Market Size in 2029 | USD 42.53 Bn |
| CAGR | 11percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 260 |
| No. of Tables | 115 |
| No. of Charts and Figures | 125 |
| Segment Covered | By Growing System, Facility Type, Component, and Crop Type |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Indoor Farming Market Scope and Research Methodology
The report is a comprehensive analysis of the Indoor Farming Market by region, segment and competitive landscape. For understanding the global factors affecting the Indoor Farming Market, the report presents drivers, challenges, restraints, and opportunities prevailing in the Indoor Farming Market. The report covers the current trends prevailing in the market along with estimations about future trends to help understand investors identify investment pockets and opportunities in the Indoor Farming Market. The segments covered in the Indoor Farming Market report are by growing system, facility type, component, and crop type.
The report is equipped with a competitive analysis of the Indoor Farming Market players. Key players and new entrants in the Indoor Farming Market are listed together. The Indoor Farming Market was analyzed by region, revenue, financial status, portfolio, technological advancement adopted, social, social media presence, and mergers and acquisitions. The new entrants in Indoor Farming Market was researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers, and new entrants with an overall view of the Indoor Farming Market for formulating investment approaches and marketing tactics. Bottom-up approach was used to estimate the Indoor Farming Market Size.
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Indoor Farming Market Overview
A practice of growing crops on vertically stacked layers in a controlled environment, which frequently uses soilless farming technique, including hydroponics, aquaponics, and aeroponics. The advantage of using indoor farming technologies is increased crop yield that comes with a smaller unit area of land requirement. Indoor farming technology requires large startup costs required to traditional farming. Growth of the crops can be controlled in indoor farming, which reduces water consumption and substantially increase crop yield with limited resources which is expected to drive the Indoor farming market growth.
Indoor Farming Market Dynamics
Increasing demand for fresh food products, less dependent on weather i.e. doesn’t have the adverse effect of weather on the cultivation of crops. Framers can nurture a crop from seed to harvest in lesser time with higher yield in each cycle, which is utilized with a lesser piece of land. High-yield varieties, fertilizer and pesticide control, irrigation management, and the use of novel agricultural practices are the factors expected to influence the Indoor Farming Market growth. Indoor farming uses new technologies of farming, which include high-tech, fully controlled, and automated greenhouse facilities and is environment friendly, which is expected to drive demand for Indoor Farming Market. Increasing health awareness among consumers demanding for healthy and natural food is expected to influence Indoor farming market growth.
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Large investments and economic cost of production are expected to affect indoor farming. High electricity costs and lack of investment in farming are expected to hamper the Indoor Farming market growth. Technological advancement in the sector presents a lucrative opportunity for the Indoor farming market.
Indoor Farming Market Regional Insights
European region held the largest market share accounting 32 percent of the total Indoor Farming market in 2021. Increased adoption of indoor farming technology, with controlled environment agriculture availability of a large proportion of the farming land in the region is expected to influence the regional Indoor Farming Market growth. To solve the difficulties, such as climate change, and environment-friendly food production is expected to drive the market growth.
North American region adopted the Indoor Farming method, with the help of high-efficiency LED lights and enhanced indoor management practices. Indoor Farming methods help to reduce energy lighting cost by 50 percent, which helps in reducing carbon footprint of controlled agriculture. Increasing demand for greenhouse tomatoes in the United States is expected to drive the regional Indoor Farming Market growth.
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Indoor Farming Market Segmentation
By Growing System:
- Hydroponics
- Aeroponics
- Aquaponics
- Soil-based
- Hybrid
By Facility Type:
- Greenhouses
- Vertical Farms
- Others
By Component:
- Hardware
- Software
By Crop Type:
- Fruits, Vegetables, & Herbs
- Flowers & Ornamentals
- Others
Indoor Farming Market Key Players Include:
- Richel Group (France)
- Netafim (Israel)
- LumiGrow (U.S.)
- Illumitex (U.S.)
- Hydrodynamics International (U.S.)
- Agrilution (Germany)
- Argus Control System Limited (Canada)
- Signify Holding (Netherlands)
- Everlight Electronics (China)
- Logiqs (Netherlands)
- American Hydroponics (US)
- Vertical Farm Systems (Australia)
- General Hydroponics (US)
- Heliospectra AB (Sweden)
- Scotts Miracle Gro (US)
Key questions answered in the Indoor Farming Market are:
- What is Indoor Farming Market?
- What was the Indoor Farming market size in 2021?
- What is the expected Indoor Farming market size by 2029?
- What is the growth rate of the Indoor Farming Market?
- Which are the factors expected to drive the Indoor Farming market growth?
- Which segment dominated the Indoor Farming market growth?
- What is the demand pattern for the Indoor Farming market?
- Which region held the largest share in the Indoor Farming market?
- Who are the key players in the Indoor Farming market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Growing System, Facility Type, Component, and Crop Type
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Agriculture research firm, has also published the following reports:
Vertical Farming Market: The market size was valued at USD 4.03 Bn in 2021, and it is expected to reach USD 15.78 Bn by 2029, exhibiting a CAGR of 18.6 percent during the forecast period (2022-2029). Reduction in environmental impact of agriculture has higher yield than conventional farming are the factors influencing the market growth.
Smart Farming Market: The total market size was valued of USD 10.68 Mn in 2021 reaching nearly 24.97 Mn by 2029 with a growth rate of 11.02 percent. Advanced technology and advanced machinery used in the farming are expected to boost the market growth.
Fish Farming Market: The total market size was valued at USD 319.46 Bn in 2021 and the total revenue is expected to grow at a CAGR of 5.8 percent through 2021 to 2029, reaching nearly USD 501.54 Bn. Changes in people's food consumption habits all around the world is expected to drive the market growth.
Hybrid Seeds Market: The total market size was valued at USD 18.89 Bn in 2021 and is estimated to grow at a CAGR of 5.43 percent reaching nearly 28.84 Bn. The growing adoption of biotechnology in smart agriculture is expected to drive the market growth.
Seeds Market: The total market size was valued at USD 77.4 Bn in 2021 and the total revenue is expected to grow at 4.7 percent through 2021 to 2029, reaching nearly USD 111.8 Bn. Seed market has seen the dimensional towards the usage of commercial seed as demand for food grain is factor expected to drive the market growth.
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