Global Indoor Farming Market Overview, Regional Analysis, Size, Share and Competitive Analysis 2022-2028

Market Overview:

Indoor Farming Market was valued at USD 34790 million in 2021 and is expected to reach USD 53570 million by the year 2028, at a CAGR of 6.36%.

The method of growing plants and crops on a large or small scale entirely indoors and with the help of hydroponics and artificial light is known as Indoor Farming or Indoor gardening. Artificial light is required for providing the plant with nutrients and it also contributes to plant growth. Indoor farming is a part of modern agriculture for growing crops in a protected environment. The market for Indoor farming is increasing globally catalysed by the rising world population and consequent demand for building secure and consistent food supplies. Conventional agriculture is locationally tied to areas with sufficient land and water. As the amount of vacant arable land and water to support conventional agriculture is dwindling, the demand for indoor farming is increasing as it is decoupled from such needs and can be located closer to end consumption.

Market Dynamics:

Driver:

Indoor farming has better output than traditional agricultural methods, which is one of its primary advantages. Indoor farming facilities offer ideal growing conditions for farmers, allowing them to cultivate a crop from seed to harvest in less time and with greater yields in each cycle while using less land. In 2016, the average output of greenhouse hydroponic tomatoes was 10.59 pounds per square foot, compared to 1.85 pounds per square foot for conventionally produced tomatoes, according to USDA statistics. As a result, by stacking additional layers and expanding the growing area, indoor farms can enhance overall crop output.

Opportunities:

Indoor farming techniques do not use GMOs, biosolids, or irradiation in crop production. Customers prefer indoor-grown plants because the plants are grown locally and are consistently more food-safe, tastier, and of higher quality than plants grown in greenhouses or conventional farms. I don't mind paying more. Indoor farming is considered a niche market, and products from indoor farms are gaining the attention of chefs around the world.

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Segmentation Insights

Based on Growing System, the aeroponics segment is dominating the market. Aeroponics is anticipated to be the fastest-growing segment in the global indoor farming market with a CAGR of 7.9% According to NASA, aeroponics systems can reduce water usage by 98%, fertilizer usage by 60%, and pesticide usage by 100%, all while maximizing crop yields. Numerous countries are incorporating aeroponics in their agriculture to produce low-cost certified disease-free organic crops, which in turn will be supplied to local farmers for their field plantings of seed and commercial crops.

Based on Facility Type, the glass or poly greenhouse segment accounted for the largest market during the forecast period. Glass or poly greenhouse is a transparent enclosed structure made of glass or polycarbonate.

Based on Crop Type, the fruits and vegetable segment are expected to dominate the market. Fruits and vegetables are the largest segments in 2020 by crop type, and they were valued at USD 5593.2 million in 2020.

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By Growing System

Alumina
Titanite
Zirconia
Silicon Carbide
Aluminum Nitride
Silicon Nitride
Other

By Facility Type

Monolithic Ceramics
Ceramic Matrix Composites
Ceramic Coating

By Crop Type

Electrical and Electronics
Transportation (Aerospace Automotive)
Medical Industrial Defense
Security Chemical
Other

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Regional Insights

In the North American region, the US is the biggest market for hydroponics systems, gaining high popularity of greenhouse horticulture and agriculture in the country. A wide variety of crops such as leafy vegetables, herbs, vegetables, fruits, microgreens, and flowers are grown through indoor farming in the countries of North America. Indoor vertical farming systems have provided organic food that is not free from agrochemicals. These have formed the key turning forces for indoor vertical farming along with the growing consumer demand for pesticide- and herbicide-free food among the consumers of North America.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of SA)

Players Covered in Indoor Farming Market are:

Philips Lighting
Everlight Electronics
Argus Controls Systems
Netafim
Lumigrow
Logiqs
Illumitex
Vertical Farm Systems
Hydrodynamics International
General Hydroponics
Richel Group
American Hydroponics
Agrilution and Other Major Players.

Key Industry Developments

In August 2019, LumiGrow Inc. introduced a new TopLight Hybrid smart fixture. The hybrids will allow users to benefit from the enriched white spectrum, which is wireless and can be controlled via the SmartPAR software of the company.

In April 2019, the Spain-based company Hydroponics System International released a new elevated system to help the facilities that require gutters that were not at ground level.

In April 2019, a Netherland-based company Signify Holdings declared the acquisition of WiZ Connected (China), manufacturer of the WiZ Wi-Fi-based connected lighting ecosystem. The acquisition would support the company to step into the Wi-Fi-based smart lighting market.

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