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$46+ Billion Worldwide Indoor Farming Technology Industry to 2031 - Rising Adoption of Vertical Farming of Agriculture Drives Growth
Global Indoor Farming Technology Market
Dublin, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The "Indoor Farming Technology Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global indoor farming technology market.
The global indoor farming technology market is expected to grow from $26.46 billion in 2021 to $29.13 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The indoor farming technology market is expected to grow to $46.16 billion in 2026 at a CAGR of 12.2%.
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Major players in the indoor farming technology market are Advanced Nutrients, Agrilution GmbH, American Hydroponics, BrightFarms, General Hydroponics, Hydrodynamics International, Logiqs Vertical Farming, Netafim, Vertical Farm Systems, AeroFarms, Bowery Inc., Freight Farms, Metropolis Farms Inc., and Scotts Miracle Gro.
The indoor farming technology market consists of sales of indoor farming technologies by entities (organizations, sole traders, and partnerships) that is a form of producing crops and plants inside the home by utilization of artificial control of light, environmental control such as humidity, temperature, gases and fertigation. Indoor farming is used to encourage local production of crops in cities and also to deliver fresh produce in city areas where plots of land are not readily available for cultivation and farming.
The main types of indoor farming technology are fruits and vegetables, flowers and ornamentals, herbs and microgreens. Fruit is a seed plant's mature ovary, which is normally generated from a flower. Fruits contain seeds, which help to continue the reproductive cycle.
A vegetable is an edible plant or portion of a plant that does not necessarily play a function in the reproduction cycle of the plant. These technologies have components such as hardware, software, services and integrated systems having facilities such as glass or poly greenhouses, indoor vertical farms, container farms, and indoor deep water culture systems. They are grown using aeroponics, aquaponics, and hybrid methods.
North America was the largest region in the indoor farming technology market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor farming technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The indoor farming technology market research report is one of a series of new reports that provides indoor farming technology market statistics, including indoor farming technology industry global market size, regional shares, competitors with a indoor farming technology market share, detailed indoor farming technology market segments, market trends and opportunities, and any further data you may need to thrive in the indoor farming technology industry. This indoor farming technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rising adoption of vertical farming of agriculture is likely to contribute the growth of the indoor farming technology market. Some of the main advantages of vertical farming are optimized crop growth, reduced water usage, minimal dependence on external weather conditions or temperatures, decreased labor costs, and better energy conservation.
According to a forum, which is used for sharing farming experience, Europe is at a significant rise when it comes to vertical farming. Many countries compete to dominate this market, which results in the rise of many new farms.
For instance, in the U.K., Jones Food Company producing around 400 tons of vegetables, such as kale, coriander, and radish, per year using vertical farming. The company has around 5000 square meters of space for vertical farm in Europe. Therefore, adoption of vertical farming is driving the growth for indoor farming technology.
Strategic partnerships are shaping the indoor farming technology market. The companies that operate in unified endpoint management are undergoing partnerships. For instance, in the year 2020, Sananbio and Hode AgTech announced a strategic partnership for indoor farming projects in Qatar.
Sananbio is a joint venture by Sanan Optoelectronics, an LED manufacturer, and also the Institute of Botany of the Chinese Academy of Sciences, an institute in plant science. Hode AgTech is committed to the development and worldwide promotion of agricultural technologies. With this partnership, they commit to building indoor farms and labs in Qatar and to giving fresh nutritionally dense food to Qatar.
The countries covered in the indoor farming technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Report Attribute | Details |
No. of Pages | 175 |
Forecast Period | 2022 - 2026 |
Estimated Market Value (USD) in 2022 | $29.13 billion |
Forecasted Market Value (USD) by 2026 | $46.16 billion |
Compound Annual Growth Rate | 12.2% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Indoor Farming Technology Market Characteristics
3. Indoor Farming Technology Market Trends And Strategies
4. Impact Of COVID-19 On Indoor Farming Technology
5. Indoor Farming Technology Market Size And Growth
5.1. Global Indoor Farming Technology Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Indoor Farming Technology Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Indoor Farming Technology Market Segmentation
6.1. Global Indoor Farming Technology Market, Segmentation By Crop Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Fruits And vegetables
Flowers And Ornamentals
Herbs And Microgreens
6.2. Global Indoor Farming Technology Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Hardware
Software And Services
Integrated Systems
6.3. Global Indoor Farming Technology Market, Segmentation By Facility Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Glass or Poly Greenhouses
Indoor Vertical Farms
Container Farms
Indoor Deep Water Culture Systems
6.4. Global Indoor Farming Technology Market, Segmentation By Growing System, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Aeroponics
Aquaponics
Hybrid
7. Indoor Farming Technology Market Regional And Country Analysis
7.1. Global Indoor Farming Technology Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Indoor Farming Technology Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/dysp3o
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