Top Market Shifts Transforming the Indoor Farming Market Landscape: Key Insights

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What Is the Expected CAGR for the Indoor Farming Market Through 2025?
The scale of the indoor farming market has surged significantly in the past few years. The market, which will be worth $29.76 billion in 2024, is projected to mature to a value of $33.15 billion in 2025, showcasing a Compound Annual Growth Rate (CAGR) of 11.4%. Various factors have contributed to the growth during the historic period including the acceleration of urbanization, the upsurge in agricultural technology investments, heightened concerns about food safety, increased research and development in crop genetics, and an uptick in disposable incomes.

What's the Projected Size of the Global Indoor Farming Market by 2029?
The market for indoor farming is projected to experience swift expansion in the coming years, culminating in a ballooning to $50.69 billion by 2029 at a compound annual growth rate (CAGR) of 11.2%. The surge in the forecasted timeframe is linked to the escalating demand for organically grown food, the increasing preference for environmentally conscious cultivation of fruits and vegetables, an amplified call for locally produced, nutritious fare, an uptick in the request for fresh produce, and a mounting demand for plant-based vegetables. Key trends that will shape this period include the development of modern technology, the preference for produce devoid of pesticides, the adoption of sustainable agriculture practices, the sophistication of precision farming, and the progress in nutrient delivery systems.

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Top Growth Drivers in the Indoor Farming Industry: What's Accelerating the Market?
The escalating need for organic food is projected to steer the advancement of the indoor farming market. Organic food denotes items cultivated and prepared without man-made chemicals, pesticides, fertilizers, genetically modified organisms (GMOs), or synthetic additives. The appeal for organic foods stems from heightened awareness among consumers about health advantages, environmental preservation, and a preference for unpolluted, artificial-free goods. Indoor farming lends itself to organic food production, providing a managed environment allowing crops to be raised devoid of artificial pesticides, fertilizers, or GMOs. This ensures compliance with organic guidelines while maximizing conditions for plant well-being and productivity. As an example, The Organic Research Centre, a non-profit entity based in the UK, suggested in February 2023, that sales of organic food and beverages in the United Kingdom rose from £3.05 billion ($3.88 billion) in 2021 to £3.11 billion ($3.95 billion) in 2022. Therefore, the growing need for organic food is the impetus for the expansion of indoor farming.

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What Trends Will Shape the Indoor Farming Market Through 2029 and Beyond?
Leading businesses in the indoor farming market are striving for innovation in their projects, such as vertical hydroponic farms, in order to improve efficacy and sustainability in farming operations. Vertical hydroponic farms refer to indoor agriculture structures where crops are cultivated in layers or towers stacked vertically, facilitated by hydroponic growing techniques. For example, in September 2022, FarmBox Foods LLC, an American enterprise that manufactures container farming solutions, unveiled the Hydroponic Fodder Farm, a vertical hydroponic infrastructure created to produce livestock feed in a highly efficient manner. The system utilizes sophisticated hydroponic technology that administers a water solution full of nutrients directly to the roots of plants, ensuring speedy and even growth. As the indoor environment is controlled, production is possible throughout the year, unaffected by fluctuating outdoor climatic conditions, while water consumption is significantly reduced compared to conventional farming procedures. The system also incorporates automated and observation systems to adjust growing conditions and maintain high standards in feed production.

What Are the Main Segments in the Indoor Farming Market?
The indoor farmingmarket covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Crop Category: Fruits, Vegetables And Herbs, Flowers And Ornamentals, Other Crop Category
3) By Growing System: Aeroponics, Hydroponics, Aquaponics, Soil-Based, Hybrid
4) By Facility Type: Glass Or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture Systems, Other Facility Types

Subsegments:
1) By Hardware: Lighting Systems, Climate Control Systems (HVAC), Hydroponic Systems, Aquaponic Systems, Sensors And Monitoring Devices, Irrigation Systems, Growing Media And Containers
2) By Software: Farm Management Software (FMS), Environmental Control Software, Data Analytics And IoT Solutions, Automation Software, Artificial Intelligence (AI) For Farming, Crop Management Software
3) By Services: Consulting And Design Services, Installation And Maintenance Services, Crop Production And Yield Optimization Services, Technical Support And Training, Financing And Leasing Services

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Which Top Companies are Driving Growth in the Indoor Farming Market?
Major companies operating in the indoor farming market are Signify Holding B.V., The Scotts Miracle-Gro Company, Priva BV, Bowery Farming Inc., Plenty Unlimited Inc., Agritecture Consulting LLC, AeroFarms LLC, Certhon, Argus Control Systems Ltd., Fluence Bioengineering Inc., UrbanKisaan, BrightFarms Inc., Iron Ox Inc., Superior Fresh LLC, FreshBox Farms, Hydrodynamics International Inc., Metropolis Farms Inc., Innovation Agritech Group Ltd., Gotham Greens Holdings LLC, Crop One Holdings Inc., Farmshelf, Illumitex Inc., ZipGrow Inc., LumiGrow Inc., GrowUp Farms Ltd

Which Regions Will Dominate the Indoor Farming Market Through 2029?
North America was the largest region in the indoor farming market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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