Indoor Farming Market

Indoor Farming Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based, Hybrid), By Facility Type (Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep-Water Culture (DWC) Systems), By Component (Hardware, Software & Services), By Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)

  • Published Date: June 2022
  • Report ID: BWC22174
  • Available Format: PDF
  • Page: 198

Report Overview

The global indoor farming market is huge burden of deforestation due to agricultural lands along with the scarcity of land and resources due to the surging population and the increasing integration of high-tech technologies such as farming sensors...

Global Indoor Farming Market- Industry Trends & Forecast Report 2028

The global indoor farming market was worth USD 15.7 billion in 2021 and is further projected to reach USD 30.8 billion by the year 2028, growing at the CAGR of 10.20% in the forecast period. The indoor farming technology is gaining huge popularity owing to the huge burden of deforestation due to agricultural lands along with the scarcity of land and resources due to the surging population. Furthermore, the increasing integration of high-tech technologies such as farming sensors is also influencing the growth of the global indoor farming market.

Indoor Farming Market

Indoor Farming - Overview

The practice of indoor farming refers to the cultivation of crops on a large scale in an indoor environment, unlike the conventional land agricultural method. This type of farming technique involves methods such as hydroponics and utilizes artificial light to supply nutrients and light to the crops and plants to their required levels. A wide variety of plants such as fruits, vegetables, and herbs are most commonly grown with indoor farming techniques.

Global Indoor Farming Market Forecast and Trends

Growth Drivers

Increasing Global Population And Demand For Food

According to a report published on Forbes, the global population is projected to reach 9.7 billion by the year 2050. With the rising population, the demand for food will also surge and so will burden on the land for agriculture. To tackle the scarcity of resources and the need for further deforestation for agriculture land, indoor farming is emerging as an effective solution. Indoor farming is also able to tackle with challenges such as drought or flood that harms crops. Due to these factors, the market is suggested to flourish during the forecast period.

Rising Public-Private Investment In Indoor Farming

The indoor farming technology is gaining huge popularity as well as investment from both public and private players, which is anticipated to emerge as a major driving factor for the global indoor farming market. According to the data by Crunchbase, the investors poured over USD 1.4 billion into the indoor and vertical farming companies. Startups such as Bowery Farming, Plenty, Upward Farms, 80 Acres Farms, etc., are flourishing because of these investments, which is estimated to drive the overall global indoor farming market growth.

Restraints

High Initial Investment Involved in Indoor Farming Setup

Indoor farming provide long term benefits due to which it is gaining popularity. However, the high initial investment involved in indoor farming setup acts as a major restraining factor for the market growth. Indoor farming is expensive due to the involvement of high-tech components such as controlled-entry clean rooms, machinery for planting, etc. Furthermore, the integration of advanced technologies including automation, robotics, machine learning, etc., further adds up the cost.

Impact of COVID-19 on Global Indoor Farming Market

The unprecedented COVID-19 outbreak brought tremendous growth opportunities for the global indoor farming market. Although the market was negatively impacted by the pandemic during the initial period since the infrastructure development for indoor farming was halted and the supply of hardware components was hindered. However, the increasing health consciousness among consumers along with declining dependence of imported food items by the countries post the import-export restrictions globally is offering lucrative growth opportunities to the global indoor farming market.

Global Indoor Farming Market - By Growing System

Based on growing systems, the global indoor farming market is segmented into aeroponics, hydroponics, aquaponics, and soil-based, hybrid. The aeroponics segment holds the largest market share owing to its benefits in farming. Aeroponics involves the practice of growing plants in an air or mist environment without the use of any substrate and therefore allows maximum nutrient absorption for plants' roots due to no growing medium, according to Trees.com, which is driving its market growth.

Global Indoor Farming Market - By Facility Type

Based on facility type, the global indoor farming market is segmented into glass or poly greenhouses, indoor vertical farms, container farms, and indoor deep-water culture (DWC) systems. The indoor vertical farms account for the largest market share owing to the high productivity in terms of the area along with shorter growing time, lower water use, as well as fresh produce is grown much closer to where it is consumed, according to the World Economic Forum.

Global Indoor Farming Market - Regional Insights

Geographically, the global indoor farming market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Europe dominates the global indoor farming market owing to the high penetration and investment towards high-end technologies such as Controlled Environment Agriculture, sensors, use of LEDs for lightening, etc. Furthermore, favorable government initiatives such as subsidies to the indoor farming components and infrastructures also play a crucial role in propelling the growth of the market in the European regions.

Competitive Landscape

The leading market players of the global indoor farming market are AeroFarms, Sky Greens, BrightFarms Inc., Green Sense Farms LLC, BrightFarms Inc., Village Farms International Inc., Bowery Inc., Garden Fresh Farms, FreshBox Farms, Metropolis Farms Inc., Everlight Electronics, Argus Control Systems, Grobo, Signify Holding, VitaLink, Hydrodynamics International, Emerald Harvest, Advanced Nutrients, General Hydroponics, Hydroponics System International, Heliospectra AB, Vertical Farm Systems, Richel Group, and other prominent players.

The global indoor farming market is fragmented with the presence of several regional companies and startups. The market is still emerging due to which it is welcoming towards new entrants. The companies are significantly focusing on market expansion by investing in the establishment of greenhouses and other infrastructure. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Development

  • In February 2022, PlantLab, a Netherlands developer of indoor urban farms, announced to have raised 50 million Euros (USD 57 million) in a funding round led by De Hoge Dennen Capital.

  • In January 2022, Walmart announced the investment of USD 400 million of Series E funding for Plenty, a US-based indoor vertical farming company.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2018-2021

Base Year – 2021

Forecast – 2022 – 2028

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Growing System, By Facility Type, By Component, By Crop Type, By Region

Key Players

AeroFarms, Sky Greens, BrightFarms Inc., Green Sense Farms LLC, BrightFarms Inc., Village Farms International Inc., Bowery Inc., Garden Fresh Farms, FreshBox Farms, Metropolis Farms Inc., Everlight Electronics, Argus Control Systems, Grobo, Signify Holding, VitaLink, Hydrodynamics International, Emerald Harvest, Advanced Nutrients, General Hydroponics, Hydroponics System International, Heliospectra AB, Vertical Farm Systems, Richel Group, and other prominent players.

 

By Growing System

  • Aeroponics

  • Hydroponics

  • Aquaponics

  • Soil-Based

  • Hybrid

By Facility Type

  • Glass Or Poly Greenhouses

  • Indoor Vertical Farms

  • Container Farms

  • Indoor Deep-Water Culture (DWC) Systems

By Component

  • Hardware

  • Software & Services

By Crop Type

  • Fruits & Vegetables

  • Herbs & Microgreens

  • Flowers & Ornamentals

  • Others

By Region

  • North America

  • Europe

  • Asia-Pacific (APAC)

  • Latin America (LATAM)

  • Middle-East & Africa (MEA)

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary and Secondary Sources
    2. Quantitative Research
      1. Primary and Secondary Sources
    3. Breakdown of Primary Research Respondents
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Industry Participants
    5. Key Questionnaire asked during Primary Interviews
    6. Key Primary Responses
    7. Market Size Estimation
    8. Assumption for the Study
    9. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Global Indoor Farming Market – Industry Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunity
      4. Challenges
    3. Recent Developments / Technical Landscape
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
  5. Global Indoor Farming Market Overview
    1. Market Estimates & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Production Technique
        1. Aeroponics
        2. Hybrid
        3. Hydroponics
        4. Soil-based
        5. Aquaponics
      2. By Facility Type
        1. Indoor Vertical Farms
        2. Greenhouse
        3. Indoor Deep Water Culture
        4. Container Farms
        5. Others
      3. By Component Type
        1. Hardware
        2. Software
      4. By Production Type
        1. Fruits and Vegetables
        2. Flowers & Ornamentals
        3. Herbs & Microgreens
        4. Others
      5. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. Latin America
        5. The Middle-East & Africa
  6. North America Indoor Farming Market Overview
    1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
      1. By Production Technique
      2. By Facility Type
      3. By Component Type
      4. By Production Type
      5. By Country
        1. U.S.
        2. Canada
  7. Europe Indoor Farming Market Overview
    1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
      1. By Production Technique
      2. By Facility Type
      3. By Component Type
      4. By Production Type
      5. By Country
        1. Germany
        2. U.K.
        3. Russia
        4. France
        5. Italy
        6. Spain
        7. Rest of Europe
  8. Asia-Pacific Indoor Farming Market Overview
    1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
      1. By Production Technique
      2. By Facility Type
      3. By Component Type
      4. By Production Type
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. Latin America Indoor Farming Market Overview
    1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
      1. By Production Technique
      2. By Facility Type
      3. By Component Type
      4. By Production Type
      5. By Country
        1. Mexico
        2. Brazil
        3. Rest of Latin America
  10. Middle East & Africa Indoor Farming Market Overview
    1. Market Size and Forecast
      1. By Value (USD Million), 2018-2028
    2. Market Share and Forecast
      1. By Production Technique
      2. By Facility Type
      3. By Component Type
      4. By Production Type
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Producers and Their Offerings
    2. Market Share / Ranking Analysis (2021)
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Developments & Growth Strategies
  12. Impact of COVID-19 Across Industry
  13. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Argus Control Systems Ltd.
    2. AeroFarms
    3.  Agrilution Systems GmbH
    4.  AutoGrow Systems Ltd.
    5.  Bowery Farming
    6.  Bright Farms Inc.
    7. Metropolis Farms Inc.
    8.  FreshBox Farms
    9.  Garden Fresh Farms Inc.
    10.  Green Sense Farms Holdings Inc.
    11.  Logiqs B.V.
    12.  Plenty Unlimited Inc.
    13.  SananBio
    14.  Sky Greens
    15.  SPREAD Co. Ltd.
    16.  Urban Crop Solutions
    17.  Voeks Inc.
    18. Other prominent players
  14. Key Strategic Recommendations

 

* Financial information of non-listed Companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.

 

List of Figures

 

Figure 1: Global Indoor Farming Market Segmentation

Figure 2: Global Indoor Farming Market Porters Analysis

Figure 3: Global Indoor Farming Market Industry Value Chain Analysis

Figure 4: Global Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 5: Global Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 6: Global Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 7: Global Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 8: Global Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 9: Global Indoor Farming Market Share, By Region, By Value, 2018-2028

Figure 10: North America Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 11: North America Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 12: North America Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 13: North America Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 14: North America Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 15: North America Indoor Farming Market Share, By Country, By Value, 2018-2028

Figure 16: Europe Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 17: Europe Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 18: Europe Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 19: Europe Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 20: Europe Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 21: Europe Indoor Farming Market Share, By Country, By Value, 2018-2028

Figure 22: Asia-Pacific Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 23: Asia-Pacific Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 24: Asia-Pacific Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 25: Asia-Pacific Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 26: Asia-Pacific Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 27: Asia-Pacific Indoor Farming Market Share, By Country, By Value, 2018-2028

Figure 28: Latin America Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 29: Latin America Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 30: Latin America Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 31: Latin America Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 32: Latin America Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 33: Latin America Indoor Farming Market Share, By Country, By Value, 2018-2028

Figure 34: Middle East & Africa Indoor Farming Market Size, By Value (USD Million), 2018-2028

Figure 35: Middle East & Africa Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Figure 36: Middle East & Africa Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Figure 37: Middle East & Africa Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Figure 38: Middle East & Africa Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Figure 39: Middle East & Africa Indoor Farming Market Share, By Country, By Value, 2018-2028

Figure 40: Global Indoor Farming Market Company Market Share Analysis, 2021

 

List of Tables

 

Table 1: Global Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 2: Global Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 3: Global Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 4: Global Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 5: Global Indoor Farming Market Share, By Region, By Value, 2018-2028

Table 6: North America Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 7: North America Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 8: North America Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 9: North America Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 10: North America Indoor Farming Market Share, By Country, By Value, 2018-2028

Table 11: Europe Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 12: Europe Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 13: Europe Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 14: Europe Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 15: Europe Indoor Farming Market Share, By Country, By Value, 2018-2028

Table 16: Asia-Pacific Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 17: Asia-Pacific Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 18: Asia-Pacific Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 19: Asia-Pacific Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 20: Asia-Pacific Indoor Farming Market Share, By Country, By Value, 2018-2028

Table 21: Latin America Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 22: Latin America Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 23: Latin America Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 24: Latin America Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 25: Latin America Indoor Farming Market Share, By Country, By Value, 2018-2028

Table 26: Middle East & Africa Indoor Farming Market Share, By Production Technique, By Value, 2018-2028

Table 27: Middle East & Africa Indoor Farming Market Share, By Facility Type, By Value, 2018-2028

Table 28: Middle East & Africa Indoor Farming Market Share, By Component Type, By Value, 2018-2028

Table 29: Middle East & Africa Indoor Farming Market Share, By Production Type, By Value, 2018-2028

Table 30: Middle East & Africa Indoor Farming Market Share, By Country, By Value, 2018-2028

Table 31: Argus Control Systems Ltd. Financial Analysis

Table 32: AeroFarms Financial Analysis

Table 33:  Agrilution Systems GmbH Financial Analysis

Table 34:  AutoGrow Systems Ltd. Financial Analysis

Table 35:  Bowery Farming Financial Analysis

Table 36:  Bright Farms Inc. Financial Analysis

Table 37: Metropolis Farms Inc. Financial Analysis

Table 38:  FreshBox Farms Financial Analysis

Table 39:  Garden Fresh Farms Inc. Financial Analysis

Table 40:  Green Sense Farms Holdings Inc. Financial Analysis

Table 41:  Logiqs B.V. Financial Analysis

Table 42:  Plenty Unlimited Inc. Financial Analysis

Table 43:  SananBio Financial Analysis

Table 44:  Sky Greens Financial Analysis

Table 45:  SPREAD Co. Ltd. Financial Analysis

Market Segmentation

By Growing System

  • Aeroponics
  • Hydroponics
  • Aquaponics
  • Soil-Based
  • Hybrid

By Facility Type

  • Glass Or Poly Greenhouses
  • Indoor Vertical Farms
  • Container Farms
  • Indoor Deep-Water Culture (DWC) Systems

By Component

  • Hardware
  • Software & Services

By Crop Type

  • Fruits & Vegetables
  • Herbs & Microgreens
  • Flowers & Ornamentals
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

Note: Please share the corporate email address for faster response

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: The global indoor farming market reached USD 15.7 billion in 2021.
Ans: The major factors driving the growth of the global indoor farming market are; increasing focus towards sustainable agricultural practices and rising public-private investment in indoor farming.
Ans: The key players in the global indoor farming market are: AeroFarms, Sky Greens, BrightFarms Inc., Green Sense Farms LLC, BrightFarms Inc., Village Farms International Inc., Bowery Inc., Garden Fresh Farms, FreshBox Farms, Metropolis Farms Inc., Everlight Electronics, Argus Control Systems, Grobo, Signify Holding, VitaLink, Hydrodynamics International, Emerald Harvest, Advanced Nutrients, General Hydroponics, Hydroponics System International, Heliospectra AB, Vertical Farm Systems, Richel Group, and other prominent players.
Ans: The hardware segment accounted for the largest share in the global indoor farming market.
Ans: Europe has the largest share in the global indoor farming market.
array(1) {
  ["__ci_last_regenerate"]=>
  int(1728027851)
}