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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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