Indoor Farming Technology Market Size is estimated to grow at a CAGR of 5.0% during the forecast period

 

The global indoor farming technology market is predicted to expand at a compounded annual growth rate (CAGR) of 5.0% during the forecast period of 2022-2030.

Growing different crops, including fruits and vegetables, leafy vegetables, herbs, microgreens, flowers, and ornamentals indoors using a variety of methods is known as indoor farming technology (IFT). The food produced using this method is very nutritious since it provides organic food that is free of pesticide contamination and controls nutrients that fertilize the plants.

Some of the different indoor farming technology facilities include glass or poly greenhouses, container farms, indoor vertical farms, and indoor deep-water culture (DWC) systems.

 

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GROWTH DRIVERS:

The rise in consumer demand for fresh, pesticide- and herbicide-free foods with high nutritional value, rising consumer awareness of the benefits of indoor farming technology systems, mounting pressure on the agriculture sector to meet the soaring food demand, and rising concerns about food security are the main factors propelling the growth of the global indoor farming technology market.

Adopting indoor farming has a number of benefits, including producing a larger yield than traditional farming techniques while consuming 95% less water and less space. Due to the growing global population, rising food consumption, and dwindling supplies of arable land and water, there is an urgent need to produce more goods with fewer resources. This is leading to greater use of indoor farming technology across geographies, which is boosting the market's overall growth.

Additionally, the benefits provided by indoor farming technology systems have forced governments all over the world to increase their support and, at the same time, promote the adoption of this technology worldwide in order to strengthen local food supplies and supply consumers with wholesome, fresh produce. The indoor farming technology market is anticipated to grow in the coming years, specifically between 2022 and 2030, as a result of the governments' rising push.

INDOOR FARMING TECHNOLOGY MARKET SEGMENTATION:

By Growing System:

·         Hydroponics

·         Aeroponics

·         Aquaponics

·         Soil-based

·         Hybrid

 

By Facility Type:

·         Glass or Poly Greenhouse

·         Indoor Vertical Farm

·         Container Farm

·         Indoor DWC System

 

By Component:

·         Hardware

·         Software & Services

·         Integrated Systems

 

By Crop Type:

·         Fruits & Vegetables

·         Herbs & Microgreens

·         Flowers & Ornamentals

·         Others

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

KEY COMPANIES IN INDOOR FARMING TECHNOLOGY MARKET:

·         Hydrodynamics International

·         American Hydroponics

·         Richel Group

·         Vertical Farm Systems

·         General Hydroponics

·         Signify Holding

·         Everlight Electronics

·         Argus Control Systems

·         LumiGrow

·         Netafim

·         Logiqs

·         Illumitex

·         Agrilution

·         Heliospectra AB

·         Scotts Miracle Gro

·         Hydroponics System International

·         Advanced Nutrients

·         Emerald Harvest

·         VitaLink

·         Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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