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Global Statistics Representing Indoor Farming Market Scenario

In the last few years, indoor farming has been witnessing significant recognition among the producers across the globe. Several producers in North America and Europe are shifting their approach from traditional to indoor farming as it requires less space and water, and the product is relatively high. Some of the factors driving the market include the rapidly growing population, changing climatic conditions, exhausting natural resources, increasing urbanization, and scarcity of water resources. To attend to the situation, umpteen companies are actively participating in vertical farming and are offering a wide variety of fruits, vegetables, and microgreens on a daily basis, such as AeroFarms, Gotham Greens, and Plenty, among others.

Global indoor farming market was valued at USD 59,526 million in 2019 and is expected to reach USD 117,214 million by 2027 at a CAGR of 9.7%.

Indoor Farming Market Trends

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Segmental Insights

The global indoor farming market is segmented into facility type, growing system, crop type, and region.

Vertical farms provide umpteen benefits, including year-round crop, shorter crop cycles, less water consumption, less growing space, weather independence, and reuse of unproductive spaces. A growing population is paving the way for innovative solutions that are beginning to be in-tuned with consumers. Moreover, microgreens occupy less space and grow faster, which is why they are extensively yielded by the producers. The trend of gifting flowers on several occasions is subsequently increasing the demand for edible flowers. Today, a number of companies are offering an extensive range of edible flowers to attend the growing demand and establish a strong foothold in the market.

indoor farming market segment trends

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Based on the growing system, the market is segmented into hydroponics, aeroponics, aquaponics, soil-based, and hybrid. Hydroponics eliminates the need for water by using a nutrient-rich solution to deliver water and minerals to the roots. Also, the hydroponic plants can grow abundantly and very quickly, which is subsequently increasing the investment in the segment by leading players to bridge the gap between supply and demand.

Aquaponics is a combination of aquaculture and hydroponics. Currently, several players are heavily investing in the aquaponic system as it offers umpteen benefits, such as better and higher yields with minimum land and water usage. Recently, Ontario based Green Relief of Flamborough invested about USD 12.5 million for the construction of an aquaponic system. The industrial revolution has introduced several innovative agricultural methods such as soil-based vertical farming, which has accelerated the process of production. Soil-based vertical farming offers many advantages over hydroponics like energy-efficiency and cost-effectiveness.

Segmental-Insights

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Based on crop type, the market is categorized into fruits & vegetables, herbs and microgreens, flowers and ornamentals, and other crop types. The fruits & vegetable segment is further segmented into leafy vegetables, tomato, strawberry, eggplant, and other fruits & vegetables. The herbs and microgreens are further sub-segmented into basil, herbs, tarragon, wheatgrass, and other herbs & microgreens.

Regional Insights

The global indoor farming market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Indoor Farming Market Regional Insights

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North America is dominating the indoor farming market. This can be attributed to increasing investments and favorable government policies in the region. For instance, in 2018, the U.S. Farm Bill allocated USD 10 million to establish and develop an urban agriculture office. Moreover, indoor vertical farms are also entering the pharmaceutical space to produce biopharmaceuticals as it is cost-effective, time-efficient, pollution-free, and highly productive. For instance, Caliber Biotherapeutics, LLC (US), one of the largest pharmaceutical facilities, operates in an 18-story, 150,000-square foot warehouse facility.

The Asia Pacific is the fastest growing indoor farming market due to the increasing population and shrinking cultivable land. Around 555 million people are expected to move to cities in Asia by 2030, the UN, which is further boosting the need for vertical farming. Similarly, China, India, South Korea, and Taiwan are some of the major revenue earners in the  APAC vertical farming market due to changing food patterns, rising population, and shrinking cultivable land.

Agriculture is one of the key sectors in Latin America. However, changing climatic conditions, lack of water resources and growing population is hampering the agriculture sector to some extent. Also, a large population does not have access to fresh and nutritious foods in the region. For instance, around 42.5 million people are affected by hunger in Latin America, the FAO.

Key Players

Some of the key players in the global indoor farming market include AeroFarms, Gotham Greens, Green Spirit Living Farm, Sky Greens, Lufa Farms, Inc., Green Sense Farms Holdings, Inc., MIRAI, Sky Vegetables, TruLeaf, infarm, Bowery Farming, Inc., PLENTY UNLIMITED INC., BrightFarms Inc., Crop One, SCATIL Fucher Farm, Metropolis Farms Canada, SPREAD Co., Ltd., Vertical Harvest, Infinite Harvest, Metropolitan Farms, Sundrop Farms Ltd., and Alegria Fresh.

Indoor Farming Market Segmentation

By Facility Type

  • Indoor Vertical Farms
  • Glass or Poly Greenhouses
  • Other Facility Types
    • Container Farms
    • Indoor Deep-Water Culture Systems
    • Low Tech Plastic Hoop House

By Growing System

  • Hydroponics
  • Aeroponics
  • Aquaponics
  • Soil-based
  • Hybrid

By Crop Type

  • Fruits & Vegetables
    • Leafy Vegetables
    • Tomato
    • Strawberry
    • Eggplant
    • Other Fruits & Vegetables
  • Herbs and Microgreens
    • Basil
    • Herbs
    • Tarragon
    • Wheatgrass
    • Other Herbs & Microgreens
  • Flowers and Ornamentals
  • Other Crop Types

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East & Africa

Frequently Asked Questions (FAQs)

AeroFarms, Gotham Greens, Green Spirit Living Farm, Sky Greens, Lufa Farms, Inc., Green Sense Farms Holdings, Inc., MIRAI, Sky Vegetables, TruLeaf, infarm, Bowery Farming, Inc are the top players in Indoor Farming Market.
The global indoor farming market was valued at USD 59,526 million in 2019 and is expected to reach USD 117,214 million by 2027 at a CAGR of 9.7%.
Aquaponics Segment is expected to be the leading segment in Indoor Farming Market during the forecast period.
North America is expected to hold the highest market share in Indoor Farming Market.
Rapidly growing population, changing climatic conditions, exhausting natural resources, increasing urbanization, and scarcity of water resources are the key factors expected to drive Indoor Farming Market during the forecast period.
In 2019 Global Indoor Farming Market was valued at USD 59,526 million.
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