Indoor Farming Market Valued at USD 43.44 Billion in 2023, Expected to Grow at an 11.2% CAGR

Anticipated Growth in Revenue:

The Indoor Farming Market size was valued at US$ 43.44 Bn in 2023. The Global Indoor Farming Market is estimated to grow at a CAGR of 11.2% over the forecast period.

Indoor Farming Market Overview:

Indoor farming is the process of producing vegetables in a closed and regulated environment, layered one on top of the other. Using vertically stacked growing shelves minimises the amount of ground space necessary to develop plants significantly when compared to traditional farming methods. By minimising the distance traversed in the supply chain, indoor farming boosts crop output while lowering farming's environmental effect.



By using vertically placed growing shelves, it minimises the amount of land space necessary to cultivate plants when compared to traditional farming methods. Indoor agriculture is a type of modern agriculture that involves growing crops in a controlled environment. The indoor farming market is growing, fuelled by the world's growing population and the resulting desire for more secure and reliable food sources. Agriculture in the traditional sense is restricted to locations with sufficient land and water.



𝐔𝐧𝐥𝐨𝐜𝐤 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐎𝐮𝐫 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰:https://www.stellarmr.com/report/Indoor-Farming-Market/461

What are Indoor Farming Market Dynamics?

Pesticides manage weeds, insects, nematodes, and plant infections, resulting in higher yields and better product quality. Herbicides also lower the cost of mechanical weed control by reducing the quantity of personnel, machinery, and fuel consumed. Pests are essentially non-existent in indoor vertical farms since they are entirely shut off from the outside world. As a result, insecticides and herbicides are almost unnecessary. Food grown is healthier, safer, and certified organic, which appeals to consumers even more.



Because certain plants can be grown in smaller spaces, indoor farming tackles the issue of restricted space. In vertical farming, for example, each facility built reduces the demand for land use by a factor of a hundred. When compared to traditional farming, there is less water waste. When compared to outside farming, indoor farms recirculate and reuse water, requiring 95% less water to cultivate the same crops which is another major factor for driving the growth of the indoor farming market.

𝐍𝐞𝐞𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 + 𝐆𝐫𝐚𝐩𝐡𝐬 𝐇𝐞𝐫𝐞:https://www.stellarmr.com/report/req_sample/Indoor-Farming-Market/461

What is Indoor Farming Market Regional Insight?

The North American region dominated the indoor farming market with a 39.6% share in 2023. With the use of high-efficiency LED lighting and enhanced indoor management practices, growers in the United States have been able to adopt large-scale indoor farming. These methods are predicted to cut energy lighting expenses by half, lowering the carbon footprint of controlled environment agriculture. The average production of standard lettuce farming doubled when cultivated vertically, according to the US Department of Agriculture (USDA). The greenhouse crop production sector currently dominates the indoor farming industry in the United States.



However, the Asia Pacific region is expected to grow at a CAGR of 7.8% through the forecast period. From a traditional agricultural practise system, the farming business in the Asia Pacific area has been changing toward modern and innovative ways. These fluctuations have resulted in the advancement of crop management methods to upsurge crop premium value. In China, Japan, Singapore, Taiwan, and other technologically advanced countries, indoor farms abound. China is predicted to hold the largest share of the Asia Pacific indoor farming technology market, due to increased R&D investments from numerous multinational firms and the usage of greenhouse farming for the production of specific crops. The high initial cost of setting up these systems is a faltering block in the Asia Pacific market.

What is Indoor Farming Market Segmentation?



By Growing System

Aeroponics
Hydroponics
Aquaponics
Soil-based
Hybrid
By Facility Type

Glass or Poly Greenhouses
Indoor Vertical Farms
Container Farms
Others

𝐅𝐑𝐄𝐄 𝐆𝐞𝐭 𝐚 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰!https://www.stellarmr.com/report/req_sample/Indoor-Farming-Market/461

Some of the current players in the Indoor Farming Market are:

Signify Holding (Netherlands)
Everlight Electronics (China)
Argus Control Systems (Canada)
LumiGrow (US)
Netafim (Israel)
Logiqs (Netherlands)
Illumitex (US)
Hydrodynamics International (US)
American Hydroponics (US)
Richel Group (France)
Vertical Farm Systems (Australia)
General Hydroponics (US)
Agrilution (Germany)
Heliospectra AB (Sweden)

Key Offerings:

Past Market Size and Competitive Landscape
Indoor Farming Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Indoor Farming Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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About Stellar Market Research
Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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