Market Overview:

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. 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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global indoor farming market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on facility type, crop type, component and growing system.

Breakup by Facility Type:

• Greenhouse
• Indoor Vertical Farms
• Container Farms
• Indoor Deep Water Culture
• Others
   

Breakup by Crop Type:

• Fruits, Vegetables and Herbs
  • Lettuce
  • Spinach
  • Kale
  • Tomato
  • Herbs
  • Bell and Chilli Peppers
  • Strawberry
  • Cucumber
  • Others
• Flowers and Ornamentals
  • Annuals
  • Perennials
  • Ornamentals
  • Others
• Others
   

Breakup by Component:

• Hardware
  • Structure
  • LED Lights
  • HVAC
  • Climate Control System
  • Irrigation Systems
  • Others
• Software
  • Web-based
  • Cloud-based
     

Breakup by Growing System:

• Aeroponics
• Hydroponics
• Aquaponics
• Soil-based
• Hybrid
   

Breakup by Region:

• Asia Pacific
  • China
  • Japan
  • Singapore
  • South Korea
  • Others
• North America
  • United States
  • Canada
• Europe
  • Netherlands
  • Germany
  • United Kingdom
  • France
  • Italy
  • Others
• Latin America
  • Mexico
  • Brazil
  • Others
• Middle East & Africa
   

Competitive Landscape:

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.

Report Coverage: