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The GMI Research forecasts that the indoor farming market is witnessing an upsurge in demand over the forecast period. This is mainly due to the growing number of government initiatives to provide subsidies and increases programs for the adoption of indoor farming to decrease water usage and improve the efficiency in production.
Introduction of the Indoor Farming Market:
The contemporary method of farming which includes growing of crops in an indoor space with a maintained and sustainable environment is known as indoor farming. It improves the quantity of crop yield by using stacked layers of potted seeds and uses artificial lighting and technology for deriving the required levels of light and nutrients. Indoor farming is mainly about the city or urban farming due to its effectiveness in growing farming in restricted space.
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Indoor Farming Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The growing adoption of indoor farming across various countries, driven by its numerous advantages over the traditional methods of farming, including enhancing efficiency and offers the capability to allow farming in restricted areas, are some of the other factors surging the growth of indoor farming market size during the forecast period. Furthermore, various technological advancements and R&D activities in indoor farming include the application of IoT, which increases food production, will further promote the farmers to opt for this farming method. According to indoor farming market analysis, the rising production growth rate and growing urbanization are boosting the demand for the food, thus fuelling the demand for the market. It reduces the effects of serious climatic changes on the yields and offers sufficient water to the crops. The growing government initiatives to provide subsidies and support programs for the adoption of indoor farming to decrease water usage and improve the efficiency in production is one of the factors propelling the growth of the global indoor farming market. For example, USDA and the Department of Energy organized a stakeholder workshop focusing on increasing vertical agriculture adoption and identifying the requirements, problems, and opportunities for vertical farming. On the other hand, the high need for initial investments and limited skilled personnel will hinder the growth of the global indoor farming market.
The recent outbreak of the COVID-19 pandemic has positively impacted the growth of the global indoor farming market, particularly in 2020. The major factor promoting the farmers to opt for indoor farming practices includes the growing focus of farmers declining to go to field areas owing to the unavailability of facemasks to maintain social distancing. The farmers are widely adopting vertical indoor farming to handle problems that include close to the area of consumption, organic crop, less use of natural resources, and reduced contact of the crop with the external environment.
Key Players of the Global Indoor Farming Market:
· Everlight Electronics Co., Ltd.
· Signify Holding
· Netafim
· Argus Control Systems Limited
· Logiqs B.V.
· LumiGrow
· Vertical Farm Systems
· Illumitex
· General Hydroponics
· Hydrodynamics International
Indoor Farming Market Segmentation:
Segmentation by Growing System:
· Hydroponics
· Aeroponics
· Soil-Based
· Aquaponics
· Hybrid
Segmentation by Facility Type:
· Indoor Vertical Farms
· Glass or Poly Greenhouses
· Indoor Deep Water Culture (DWC) Systems
· Container Farms
Segmentation by Component:
· Hardware
o Lighting Systems
o Climate Control Systems
o Sensors
o Communication Systems
o Irrigation Systems
o System Controls
o Others
· Software & Services
Segmentation by Crop Type:
· Herbs & Microgreens
o Herbs
o Basil
o Wheatgrass
o Tarragon
· Fruits & Vegetables
o Tomato
o Leafy Greens
§ Kale
§ Lettuce
§ Spinach
§ Others
o Eggplant
o Strawberry
o Others
· Flowers & Ornamentals
o Annuals
o Perennials
o Ornamentals
· Others
Segmentation by Region:
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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