Global Indoor Farming Market Outlook for 2023-28
Markntel Advisors has conducted a comprehensive study on the Global Indoor Farming Marketis projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28. The World Bank Group reports that the average amount of arable land per person decreased from 0.197 hectares in 2013 to 0.192 hectares in 2016. The loss of agricultural land has primarily been brought about by its redistribution for non-agricultural uses, including urbanization, highways, industry and housing, as well as soil erosion and pollution in many developing countries.
In addition, the Global Indoor Farming Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth.
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Global Indoor Farming Market Key Drivers:
Decreased Cultivable Area Globally, Prompting The Repurposing of Existing Agricultural Land. - Unfavorable weather conditions like droughts, soil erosion, floods, and intensive pesticide usage, which are the prominent causes of the decreased cultivable area, have led to reduced yield over time. Growing crops indoors is the best way to address this severe concern affecting soil fertility globally. In addition, it creates new arable land, subsequently increasing the output and productivity of existing agricultural land. With innovative methods like Hydroponics Farming, Aeroponics Farming, Aquaponics Farming, and Vertical Farming, indoor methods are anticipated to gain traction and drive the market during the forecast period.
Global Indoor Farming Industry Breakdown: Key Revenue Generating Segments
To facilitate focused analysis, the Indoor Farming Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter's five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:
-By Type
-Hydroponics Farming
-Aeroponics Farming
-Aquaponics Farming
-Vertical Farming
-By Facility
-Greenhouses
-Container Farms
-Indoor Vertical Farms
-Indoor Deep Water Culture
-By Component
-Hardware
-Climate Control Systems
-Lighting Systems
-Sensors
-Irrigation Systems
-Software
-Web-Based
-Cloud-Based
-By Crop
-Fruits and Vegetables
-Tomato
-Lettuce
-Bell & Chili Peppers
-Strawberry
-Cucumber
-Others (Leafy Greens, Kale)
-Herbs and Microgreen
-Herbs
-Tarragon
-Wheatgrass
-Others (Basil, Bay)
-Flowers and Ornamentals
-Annuals
-Perennials
-Ornamentals
-Others (Orchids, Succulents)
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Each sections offer valuable insights into the Indoor Farming Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.
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Competitive Analysis of the Global Indoor Farming Industry
-Aessense Corporation
-Argus Control Systems Limited
-Bowery Farming Inc
-BrightFarms
-Certhon
-Crop One Holdings, Inc.
-General Hydroponics
-Green Sense Farms Holdings, Inc.
-Metropolis Farms Inc
-Netafim
-Priva
-Richel Group
-Signify Holdings
-Village Farms International Inc
-Windset Farms
-Others
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Global Indoor Farming Market Research Report Answers the Following Key Questions
- How big is the Global Indoor Farming Market?
- What is the projected growth rate or CAGR of the Global Indoor Farming Market during 2023-28?
- What are the key trends or growth opportunities for the key players in the Global Indoor Farming Market?
- Which ‘segment’ seems promising for companies operating in the Global Indoor Farming Market?
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