Report Ocean recently released a research report on the Indoor Farming Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global indoor farming market size was US$ 14.1 billion in 2021. The global indoor farming market is forecast to grow to US$ 35 billion by 2030, registering a compound annual growth rate (CAGR) of 9.5% during the forecast period from 2022 to 2030.
Indoor farming is the renowned method of growing crops or plants indoors. This farming method usually includes hydroponics and uses artificial lights in order to serve the required amount of nutrients and light for growth.
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Factors Influencing the Market
The increasing demand for higher yields is forecast to drive the growth of the global indoor farming market. Indoor farming offer advantages like higher yield and convenience. In addition, it requires lesser time and limited land area that is more beneficial than the conventional farming method. As a result, the global indoor farming market will grow significantly.
Growing demand for innovative and cost-effective technologies is forecast to fuel the market growth. In addition, the rising population and increasing demand for food will propel the growth of the market.
The increasing number of farming activities are also forecast to fuel the market growth during the study period. In addition, favorable government initiatives to boost crop production will boost the market growth during the study period.
Increasing demand for organic food and growing awareness regarding the efficiency of alternative farming methods are forecast to benefit the global market during the forecast period.
The high cost associated with the indoor farming setup may hamper the growth of the market during the study period.
Regional Analysis
The Asia-Pacific indoor farming market is forecast to grow rapidly, owing to the increasing number of farming activities. The market will witness the high contribution of China and India in the forthcoming years. In addition, the increasing number of indoor farms is forecast to benefit the regional market during the study period.
The population in this region is continuously growing, which is increasing the demand for food. As a result, governments are also promoting advanced methods in order to boost crop production and cater to public demands. All of these factors will contribute to the growth of the Asia-Pacific indoor farming market.
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COVID-19 Impact Analysis
During the COVID-19 pandemic, health and food safety became the key focus for many nations. In addition, it increased the adoption of indoor farming as it is one of the safest ways to get organic food. Furthermore, the labor shortages on the farm created a shortage of food. As a result, indoor farming practices grew significantly globally.
Competitors in the Market
- Everlight Electronics
- Argus Control Systems
- LumiGrow
- Netafim
- Logiqs
- Illumitex
- Hydrodynamics International
- American Hydroponics
- Richel Group
- Vertical Farm Systems
- General Hydroponics
- Agrilution
- Heliospectra AB
- Other Prominent Players
Market Segmentation
On the basis of the growing system
- Hydroponics
- Aeroponics
- Aquaponics
- Soil-based
- Hybrid
On the basis of facility type
- Glass or Poly Greenhouse
- Indoor Vertical Farm
- Container Farm
- Indoor DWC System
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On the basis of component
- Hardware
- Software & Services
- On the basis of crop type
- Fruits & vegetables
- Herbs & Microgreens
- Flowers & Ornamentals
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
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- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Indoor Farming Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Indoor Farming market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Indoor Farming Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Indoor Farming market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Indoor Farming market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Indoor Farming market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Indoor Farming market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Indoor Farming business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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