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The global indoor farming market grew at a CAGR of around 12% during 2015-2020. Looking forward, IMARC expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global indoor farming market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on facility type, crop type, component and growing system.
Breakup by Facility Type:
Breakup by Crop Type:
Breakup by Component:
Breakup by Growing System:
Breakup by Region:
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.
|Base Year of the Analysis||2020|
|Segment Coverage||Facility Type, Crop Type, Component, Growing System, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Netherlands, Germany, United Kingdom, France, Italy, China, Japan, Singapore, South Korea, Brazil, Mexico|
|Companies Covered||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.|
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The global indoor farming market grew at a CAGR of around 12% during 2015-2020.
The elevating levels of urbanization, limited availability of arable land, and the growing prominence of high-tech, fully-controlled, and semi-automated greenhouse facilities, are some of the key factors driving the global indoor farming market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations resulting in temporary halt in numerous agricultural practices and non-availability of migrant labor, thereby negatively impacting the overall market growth.
Based on the facility type, the global indoor farming market can be segmented into greenhouse, indoor vertical farms, container farms, indoor deep-water culture, and others. Among these, greenhouse currently accounts for the majority of the global market share.
Based on the crop type, the global indoor farming market has been divided into fruits, vegetables, and herbs, flowers and ornamentals, and others, where fruits, vegetables, and herbs exhibit a clear dominance in the market.
Based on the component, the global indoor farming market can be categorized into hardware and software. Currently, hardware holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global indoor farming market include 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.
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