Richmond, Feb. 06, 2024 (GLOBE NEWSWIRE) -- According to a research report "Indoor Farming Market”, by Type (Greenhouse, Indoor vertical farms {Shipping container, Building based}, Container farms, Indoor deep-water culture, Others), Growing system (Aeroponics, Hydroponics, Aquaponics, Soil-based, Hybrid), Offering (Hardware {Climate control system, Lighting system, Sensors, Irrigation system}, Software {Web-based, Cloud-Based}, Services {System Integration & Consulting, Managed, Assisted Professional}) , and Region - Global Forecast to 2030.
Global Indoor Farming Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 41.5 Million |
| Market size value in 2030 | USD 94.1 Million |
| CAGR (2023-2030) | 10.8% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Growing system, Offering, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Indoor Farming Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Indoor Farming market plays a crucial role in the food industry, widely utilizing resources and infrastructure such as land. Smart indoor farms address through three dimensions: soilless farming, energy efficiency, and intelligent technologies. A six-layer smart indoor farming system utilizes sensors and devices to collect data, sending it to the cloud for analysis and control. Components like artificial lighting, smart nutrition, and climate control contribute to the efficiency of smart indoor farms. Vertical farming is becoming increasingly popular around the world due to its ability to efficiently manage resources and produce high-quality food. In areas where soil and water resources are limited, vertical farming could indeed play a significant role in the production of crops and vegetables. The urban cities where land is scarce and expensive will need to produce enough food to feed their own population to avoid congestion, pollution, and skyrocketing food costs. The vertical farm idea seems to have a bright future with recent technologies like hydroponics, aeroponics, and aquaponics.
The amount of arable land, water scarcity, increased awareness of sustainable development, and the well-documented environmental effects of open field agriculture, other farming methods have been developed in the past few decades. The primary alternative to open field farming is referred to as indoor farming, which has received relatively little attention in terms of environmental impacts.
Major Vendors in the Global Indoor Farming Market:
- 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
- Voeks Inc.
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Minimized water consumption in agriculture
Indoor farming solutions, water is applied in exact doses meaning wastage is minimised and productivity is boosted – both at a granular and system-wide level. This is achieved through recirculating and treating nutrient-rich water and capturing water that would otherwise be lost through transpiration. Filters, UV treatment, and complex treatment and recirculation systems are tailored to the exact needs of each individual plant – much like a hospital’s treatment regimen would be tailored to a patient and their underlying condition and needs. Overall, dependent on the crop being grown, vertical farms can use up to 98% less water when compared to traditional agriculture. This is not possible through conventional methods and as stated, even high-tech glasshouses have limitations due to there still being a higher degree of variability in growing conditions due to more exposure to outdoor conditions.
Market Dynamics
Drivers:
- Increasing need of sustainable method for cultivation
- Minimized water consumption in agriculture
- Prevent fertilizer run-off into eco-system
- Price stability of crops
Opportunities:
- Rising consumer demand for locally production
- Growing quality of products
- Advancement in technology
- Resilient to climate change
Advancement in farming technology
The goal of urban and vertical farming research is to contribute to a more sustainable food supply. Advanced farming techniques could yield higher yields while consuming relatively lesser water compared to traditional farming practices. The design as well as setup of these high-tech farms will provide each plant with precisely measured nutrients while also ensuring optimal exposure to light for all plants. Herbicides and pesticides would be unnecessary in these farms because they would be grown in a closed-loop system, maximizing nutrition and food value. Ultimately, these systems will be able to be deployed around the world as well as provide high productivity while minimizing environmental impacts, according to researchers. A paradigm transition in farming and food production, they are ideal for urban farming because of their limited land availability. These methods (mainly hydroponics, aeroponics, and aquaponics) as well as related technologies are rapidly evolving, diversifying, and improving.
North America dominates the market for Indoor farming .
North America stands out as the dominating region in the global Indoor farming Market, with the United States leading in consumption and market share. Rising adoption of technologies for indoor farms, such as Controlled Environment-Agriculture (CEA), which controls the environmental factor, is responsible for regional growth. Increasing focus on adopting technologies, such as active heat systems and LEDs, to improve the yield is driving the market. Several initiatives are undertaken by the regional government for building indoor farms to overcome challenges, such as growing population, climate change, and food production in an environmentally -unfriendly way.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Indoor farming Market. Countries such as China and Japan are estimated to witness considerable growth in the forthcoming years owing to the presence of many indoor farms. In addition, the continuously rising population in the region has resulted in an increasing demand for organic food, which has led to the building of greenhouses and vertical farms to produce crops. The rising awareness about the significance of alternative farming methods due to the availability of less fertile agricultural land is expected to further fuel regional demand.
Another noteworthy region is the Middle East and Africa, where the demand for convenient food solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient gloves options.
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The Aeroponics Segments is anticipated to hold the Largest Market Share during the Forecast Period
Aeroponics represents a significant step forward in hydroponics technology. With no soil or media and minimal water and sunlight, an aeroponic system can be defined as an enclosed air and water/nutrient ecosystem that causes rapid plant growth. The primary distinction between hydroponics and aeroponics is the absence of a growing medium in the case of the former and the inclusion of water in the latter. Aeroponics does not necessitate containers or trays to retain water because it uses mist or nutrient solutions rather than water. Traditional farming methods use 95 percent more water than hydroponics, but hydroponics requires only a small amount of space. Even in a basement or warehouse, you can stack plant boxes. When a stack of plant boxes is assembled, the upper and bottom plants are held aloft, enabling their crowns to grow upward, and their roots to grow downward.
Segmentations Analysis of Indoor farming Market: -
- By Offering
- Hardware
- Climate control system
- Lighting system
- Sensors
- Irrigation system
- Software based
- Web based
- Cloud based
- Services
- System Integration & consulting
- Managed services
- Assisted Professional services
- Hardware
- By Type
- Greenhouse
- Indoor vertical farms
- Shipping container
- Building based
- Container farms
- Indoor deep-water culture
- Others
- By Growing system
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- Aeroponics
- Hydroponics
- Aquaponics
- Soil-based
- Hybrid
- By Crops
- Fruits, Vegetables &Herbs
- Tomato
- Lettuce
- Bell & Chilli peppers
- Strawberry
- Cucumber
- Leavy Greens
- Herbs
- Others
- Flowers and Ornaments
- Annuals
- Perennials
- Ornaments
- Fruits, Vegetables &Herbs
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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