Summary: The global indoor farming market, valued at USD 22.73 billion in 2023, is projected to experience significant growth, with a forecasted CAGR of 11%, reaching USD 47.19 billion by 2030. The rise in demand for sustainable farming practices and innovations in technology is driving the market forward. Indoor farming, which utilizes advanced systems such as hydroponics, aeroponics, and aquaponics, enables high-yield farming in urban settings, offering an effective solution to food security challenges.
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Market Size:
The indoor farming market was valued at USD 22.73 billion in 2023 and is expected to grow significantly over the forecast period. By 2030, the market is projected to reach USD 47.19 billion, driven by a compound annual growth rate (CAGR) of 11%.
Scope and Research Methodology:
The research process involved a detailed analysis of the global indoor farming industry, with insights gathered from both primary and secondary sources. Primary research included interviews with key industry leaders, and secondary research involved reviewing reports, publications, and financial records of leading companies. The market estimates and forecasts were validated through top-down and bottom-up approaches, ensuring accuracy and reliability.
Report Coverage:
The report provides in-depth insights into the indoor farming market’s dynamics, growth factors, competitive landscape, and regional trends. Key growth drivers, challenges, and opportunities in the market are thoroughly analyzed, offering a comprehensive understanding of the evolving industry.
Overview:
Indoor farming, which includes various types of systems such as aeroponics, hydroponics, and aquaponics, is an innovative agricultural approach that takes place within controlled environments. This technique allows for year-round crop production, particularly in urban areas where land is scarce. It has emerged as a promising solution to global food security concerns, offering high-efficiency farming while minimizing environmental impact.
Dynamics:
Several factors are driving the growth of the indoor farming market, including rising urbanization, increasing demand for fresh produce, technological advancements, and government support for sustainable agricultural practices. Additionally, as the world faces challenges like climate change and water scarcity, indoor farming offers a resource-efficient and scalable solution.
Segmentation:
- By Growing System: Aeroponics, Soil-Based, Hydroponics, Aquaponics, Hybrid Systems
- By Facility Type: Glass or Poly Greenhouse, Indoor Vertical Farm, Container Farm, Low-Tech Plastic Hoop House
- By Crop Type: Tomatoes, Flowers, Herbs, Microgreens, Leafy Greens, Others
Key Players Include:
- AeroFarms (USA)
- Plenty Unlimited Inc. (USA)
- Bowery Farming (USA)
- BrightFarms (USA)
- Gotham Greens (USA)
- Infarm (Germany)
- Richel Group (France)
- UrbanKisaan (India)
- Spread Co. Ltd. (Japan)
- Crop One Holdings (Singapore)
Reason to Buy:
The report offers valuable insights into the indoor farming industry’s growth prospects, enabling stakeholders to make informed decisions regarding investments, partnerships, and expansion strategies. It highlights emerging trends, challenges, and key players to provide a competitive advantage in the growing market.
Table of Contents:
- Executive Summary
- Market Overview
- Market Dynamics
- Competitive Landscape
- Segmentation
- Regional Analysis
- Key Player Profiles
- Future Outlook and Trends
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