Global Indoor Farming Market Growth - Segmented by Growing System, Facility Type, Crop Type, and Geography- Growth, Trends, and Forecast (2018 - 2023)

SKU ID : MOR-13104666

Publishing Date : 01-Aug-2018

No. of pages : 110

PRICE
4250
8750


  • The global indoor farming market was valued at USD 435.8 million in 2016 and is expected to register a CAGR of 14.4% during the forecast period (2018-2023). Europe is the biggest and the leading region having maximum area under indoor farming. North America and Europe have developed advanced technologies with respect to indoor farming, while the Asia Pacific region has seen keen investor interest develop the market potential of the region.

    Countries in Europe such as France, Italy, Germany, Netherlands and the UK are at the forefront in implementation of indoor farming technologies. Increasing awareness of the benefits and demand for food is expected to drive the establishment of indoor farms in regions such as Asia Pacific and South America.

    Hydroponics – Largest Segment by Growing System
    Indoor farming is being practiced, both at a small scale as well as at a large scale. The market is segmented by growing system, facility type, crop type and geography. The market has been segmented by growing systems as Aeroponics, Hydroponics, Aquaponics, Soil-based, and Hybrid Systems. By facility type, the segments include Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture System and others. By crop type, the market is segmented into fruits & vegetables, herbs & micro greens, flowers & ornamentals and others. Growing system helps in avoiding the food loss due to external environment issues. Hydroponics accounts for the highest usage in indoor farming with market share of 49% where as aeroponics and hybrid growing system are less used with 6%.

    Increasing Need for Maximizing Yield Driving the Indoor Farming Market
    Indoor farming grows crops indoors, using hydroponic tools and artificial lights which provide the required elements for the plants growth, protects them from abiotic and biotic stresses. Due to the minute impact of climatic conditions, the harvest cycle is also faster compared to outdoor farming and four harvests cycles can be taken every year. Due to all these factors, the annual yield of the crops in indoor farming is substantially high, when compared to outdoor farming. The need for maximizing yields across crops and geographies to satisfy the growing population and changing dietary preferences is expected to drive investments into indoor farming technologies.

    Limitation on Type of Crops That Can Be Grown
    The selection of crop to be grown through indoor farming depends on technical and economic feasibility. Technical feasibility takes into account the ability of the crop to absorb nutrients from media other than soil, height of the crop with respect to the indoor farm size, spacing and other planting parameters, light requirement, among other factors. The crop should also be able to have a yield output that justifies the huge initial investment made. The most feasible crops for indoor farms from a technical and economic perspective are greens, herbs/micro greens, flowers and other crops. The other crops include food supplements and ethnic food.

    Key Developments of Indoor Farming Market
    Apr 2017 - First commercial indoor vertical farms was built in Europe using led based lighting with 3,000 square meters of growing space.
    Sep 2017 - Indoor farms for lettuce and other leafy greens were built in Siberia.

    Indoor Farming Market Major Players
    Aerofarms, Bowery Farming, Contain Inc., Freshbox Farms, Garden Fresh Farms, Indoor Farms of America, Metropolis Farms, and Philips Lighting, among other.

    Reasons to Purchase Indoor Farming Market Report
    To have an understanding of the fastest growing regions in the indoor farming and growth trends during the forecast period
    The report outlines drives, restraints, and trends that are currently effecting the market
    Analyzing various perspectives of the market with the help of Porter’s five forces analysis
    The report covers in-detail insights about the competitors’ overview and company share analysis
    Identify the latest developments, market shares, and strategies employed by the major market players
    3-month analyst support, along with the Market Estimate sheet (in Excel)

    Customization of Indoor Farming Market Report
    This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.