The latest report by IMARC Group, titled “Indoor Farming Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the indoor farming market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global indoor farming market size reached US$ 19.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 43.9 Billion by 2032, exhibiting a growth rate (CAGR) of 9.1% during 2024-2032.
Indoor Farming Market Trends:
The global indoor farming market is witnessing significant growth driven by the increasing need for sustainable agricultural practices due to rising concerns over food security and environmental impact. Indoor farming allows for the efficient use of resources, such as water and land, and minimizes the reliance on pesticides and herbicides, promoting eco-friendly cultivation. Along with this, the technological advancements in controlled environment agriculture (CEA) systems, including hydroponics, aeroponics, and aquaponics, enhance crop yields and quality, further propelling market growth.
Additionally, the growing urbanization and the subsequent demand for locally grown, fresh produce are encouraging the adoption of indoor farming practices. Moreover, the strong support from government policies and initiatives aimed at promoting sustainable agriculture and food production also contributes to the positive market outlook.
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Global Indoor Farming Market Scope Growth Analysis:
The scope of the market encompasses a diverse range of crops, including vegetables, fruits, herbs, and flowers, cultivated in various indoor environments such as vertical farms, greenhouses, and container farms. Market growth is driven by continuous innovations in farming technologies, such as LED lighting, climate control systems, and advanced sensors, which optimize growing conditions and resource utilization.
In addition, the market is also benefiting from the increasing consumer preference for organic and locally sourced produce, which indoor farming can efficiently provide. Strategic partnerships and investments in research and development are fostering the development of novel solutions that enhance the scalability and profitability of indoor farming. Apart from this, the expansion of urban agriculture initiatives and the rising interest in sustainable and resilient food systems are favoring the market. Furthermore, the integration of data analytics and IoT in indoor farming practices is enhancing operational efficiency and crop management, further supporting market expansion.
Competitive Landscape with Key Players:
- 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.
Key Market Segmentation:
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:
- 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
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Why Choose IMARC Research Report:
- Strong Market Research Expertise
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- Innovative Solutions
- Comprehensive Analysis
- Accuracy and Reliability
- Provides Insightful Forecasts
- Available Customization Options
- Strong Customer Service
Note: 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.
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.
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