According to 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 analysis. 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.
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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
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