Indoor Farming Market 2024, Size, Share, Top Companies, Trends Analysis & Industry Report 2032

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 industry, which comprises insights on global indoor farming market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

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.

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Factors Affecting the Growth of the Indoor Farming Industry:

• Rising Demand for Locally Grown Produce:

The growing adoption of indoor farming due to increasing preferences for fresh and locally sourced produce among the masses worldwide is offering a positive market outlook. Consumers are increasingly focusing on fresh, high-quality, and sustainable food choices. In addition, indoor farming enables year-round production in urban areas. Indoor farms reduce carbon emissions associated with food miles by eliminating the need for long-distance transportation. The ability to grow a variety of crops in controlled environments ensures consistent availability and quality, enhancing satisfaction among individuals.

• Technological Advancements:

Innovations, including light-emitting diode (LED) lighting, automation, sensors, and data analytics, are impelling the growth of the market. These technologies enhance productivity, resource efficiency, and crop quality, making indoor farming economically viable and scalable. LED lighting systems provide precise control over light spectrum and intensity, optimizing plant growth while reducing energy consumption. Automation streamlines tasks, such as planting, watering, and harvesting, improving operational efficiency and reducing labor costs. Sensors monitor environmental variables like temperature, humidity, and nutrient levels, enabling real-time adjustments to optimize growing conditions. Data analytics algorithms analyze plant responses and environmental data to fine-tune cultivation parameters, maximizing yields and quality.

• Climate Change Concerns:

The impacts of climate change, including extreme weather events, temperature fluctuations, and water scarcity, pose risks to traditional agriculture. Indoor farming provides a resilient alternative by offering climate-controlled environments that protect crops from adverse weather conditions. Indoor farms ensure optimal growing conditions year-round by controlling temperature, humidity, and lighting. This mitigates the risks of crop failures and yield losses associated with climate change, enhancing food security and stability in supply chains. Furthermore, indoor farming reduces greenhouse gas (GHG) emissions by minimizing the need for energy-intensive practices like irrigation and fossil fuel-based machinery.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/indoor-farming-market

Global Indoor Farming Market Trends:

The scarcity of arable land due to urbanization, soil degradation, and competing land uses is catalyzing the demand for indoor farming. Traditional outdoor agriculture faces challenges in meeting the growing demand for food while preserving natural ecosystems. Indoor farming offers a solution by maximizing land use efficiency through vertical farming and repurposing non-arable spaces like warehouses. This approach is beneficial in reducing the environmental footprint associated with land conversion and long-distance transportation.

Moreover, indoor farming mitigates soil degradation and nutrient depletion by using soilless cultivation methods. Besides this, indoor farming requires less water as compared to traditional agriculture methods, making it an attractive option in regions facing water scarcity or drought conditions.

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.

Indoor Farming Market Report Segmentation:

By Facility Type:

• Greenhouse
• Indoor Vertical Farms
• Container Farms
• Indoor Deep Water Culture
• Others

Greenhouse represents the largest segment, which can be accredited to the rising focus on energy efficiency.

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

Fruits, vegetables, and herbs hold the biggest market share on account of the increasing consumption of healthy food products among individuals.

By Component:

Hardware
• Structure
• LED Lights
• HVAC
• Climate Control System
• Irrigation Systems
• Others

Software
• Web-based
• Cloud-based

Hardware accounts for the largest market share as it ensures optimal environmental control and space utilization.

By Growing System:

Breakup by Growing System:

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

Soil-based exhibits a clear dominance in the market due to the rising focus on cultivating crops with deep roots.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

North America enjoys a leading position in the indoor farming market, which can be attributed to the increasing adoption of indoor farming for year-round crop production.

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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