Indoor Farming Market 2024, Global Size, Share, Industry Trends, and Forecast by 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 trends. 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.

Indoor Farming Market Overview:

Indoor farming represents a transformative approach to cultivating crops. It involves the practice of growing plants, vegetables, and herbs within controlled environments, typically without the need for soil. Instead, hydroponic, aquaponic, or aeroponic systems are employed, providing a precise balance of nutrients, light, and environmental conditions to optimize plant growth. This innovative agricultural method has gained momentum as it offers a solution to some of the challenges faced by traditional outdoor farming, such as climate unpredictability and land limitations. Indoor farming not only allows for year-round crop production but also enables efficient resource utilization, reduced pesticide use, and minimal water consumption. With the global population on the rise and a growing emphasis on sustainable food production, indoor farming has emerged as a game-changing solution to meet the increasing demand for fresh, locally sourced produce.

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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.

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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.

Key Market Segmentation:

Breakup by Facility Type:

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

Breakup 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

Breakup by Component:

Hardware

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

 Software

• Web-based
• Cloud-based

Breakup by Growing System:

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

Breakup by Region:

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

Key Highlights of the Report:

• Market Performance 
• Market Outlook 
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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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