Indoor farming refers to a modern method of growing plants and vegetables on a large scale in a controlled environment. It involves the utilization of the vertical method of stacking for higher productivity in a smaller area. Along with this, it also uses artificial lighting solutions that aid in providing plants with essential nutrients for proper growth. Some of the common forms of indoor farming include building-based, shipping-container vertical and deep farms. In comparison to traditional farming practices, indoor farming ensures consistent crop production, utilizes space in an optimal manner, reduces water usage, transportation and labor costs, and eliminates the usage of chemicals or pesticides. With the increasing global population level, the rising need for food security across the globe, and the loss of arable lands due to changing climatic conditions and industrial development, there has been a considerable rise in the preference for indoor farming practices across the globe.
The global indoor farming market reached a value of US$ 15.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 31.1 Billion by 2027, exhibiting at a CAGR of 11.8% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Request for a free sample copy of this report: https://www.imarcgroup.com/indoor-farming-market/requestsample
The rapid outbreak of the coronavirus disease (COVID-19), followed by the mandatory lockdown restrictions on the global level, has adversely affected indoor farming companies. The disruptions in the supply chain and weak consumer demand have negatively impacted the market. However, the pandemic has provided an opportunity for strategic partnership between leading players and community-based food rescue programs to upcycle farm surplus into value-added and healthy foods in order to serve communities struggling with food supplies. This, in turn, is creating a positive outlook for the market. Apart from this, rising investments and funding activities in an attempt to address the food scarcity issues and ensure safe supply of sustainably grown products across the globe have also favorably impacted the market growth.
The key players operating in this market are primarily involved in launching innovative indoor farming solutions, such as aeroponics, hydroponics and aquaponics, that enable farming activities in a sustainable environment. In addition to this, with continual advancements in technologies, multiple leading players are adopting light-emitting diode (LED) lighting solutions for providing an optimal condition for plants to grow in, thereby creating a positive outlook for the market. Along with this, the increasing demand for organic fruits and vegetables with higher nutritional value due to the rising health-consciousness among consumers is creating numerous growth opportunities for indoor farming companies. Moreover, continuous improvements in the e-commerce sector and the advent of online delivery models are also assisting key companies in strengthening their market position. Other factors, including rapid urbanization and the increasing initiatives by the government of multiple countries to provide financial support to indoor farming companies, are further contributing to the market growth.
Some of the Leading Players 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.
Also Read Full Blog: Top Indoor Farming Companies Worldwide
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Other Report:
- Applicant Tracking System Market: https://www.imarcgroup.com/applicant-tracking-system-market
- Osteoporosis Drugs Market: https://www.imarcgroup.com/osteoporosis-drugs-market
- Yoga Mat Market: https://www.imarcgroup.com/yoga-mat-market
- Mass Notification Systems Market: https://www.imarcgroup.com/mass-notification-systems-market
- Aramid Fiber Market: https://www.imarcgroup.com/aramid-fiber-market
- Analgesics Market: https://www.imarcgroup.com/analgesics-market
- Pasta Sauce Market: https://www.imarcgroup.com/pasta-sauce-market
- Fertility Services Market: https://www.imarcgroup.com/fertility-services-market
- Online Clothing Rental Market: https://www.imarcgroup.com/online-clothing-rental-market
- White Box Server Market: https://www.imarcgroup.com/white-box-server-market
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800
