IndoorFarming Technology Market Size And Forecast
IndoorFarming Technology Market was valued at USD 12.66 Billion in 2019 and is projectedto reach USD 25.08 Billion by 2027, growing at a CAGR of 8.94% from 2020 to2027.
The Global Indoor Farming Technology Market is expected to showcase substantialgrowth during the forecasted period with a boost in the market demand due to anincrease in the demand for grains and food leads to a search for high-yieldingfarming techniques. It is also considered as an optimum solution for foodsecurity in the coming years. It is also cost-effective and requires less areato harvest. This feature adds up to the market demand during the forecastedperiod. The Global Indoor Farming Technology Market report provides a holisticevaluation of the market. The report offers a comprehensive analysis of keysegments, trends, drivers, restraints, competitive landscape, and factors thatare playing a substantial role in the market.
GlobalIndoor Farming Technology Market Definition
Indoorfarming refers to the process of growing plants at a large scale indoors i.e.,the crops are not exposed to the external environment. Thus, method of farmingusually inculcates techniques such as hydroponics and the crops feed onartificial lights for their nutrition. Fruits, herbs, and vegetables are themost popular species grown indoors.
Indoorfarms can be operated on a large scale and can be created in an area as smallas a basement. Some indoor farms which are being operated at greenhouses canuse a combination of natural and artificial resources. Indoor farmingtechnology refrains from using any pesticides and no fungicides so that thefood is healthier and safer.
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GlobalIndoor Farming Technology Market Overview
Indoorfarming technology is capable of producing a higher yield than conventionalfarming. A controlled environment inside the premises of an indoor farmingcampus creates optimum growing conditions for the farmers to grow a crop fromthe seed till the harvesting stage arrives. Indoor farms can increase the yieldby implementing additional layers and increasing the growing area. This featureacts as a driving factor for this market. It also requires less space topractice crop harvesting.
Thisproves to be cost-efficient and adds to the market growth of this market. Waterwastage is also less compared to the traditional methods of farming as theevaporation process is slower in the case of indoor farming. New technologiesneed to be developed to reduce the carbon footprint in indoor farming. This isan opportunity for innovations in this market during the forecasted period. Thehigh initial investment is required to set up the optimum structure for anindoor farm. This could prove to stagnate the growth of the Indoor FarmingTechnology Market in the future.
GlobalIndoor Farming Technology Market Segmentation Analysis
TheGlobal Indoor Farming Technology Market is segmented based on Facility Type,Growing System, Crop Type, And Geography.
IndoorFarming Technology Market, By Facility Type
•Indoor DWC System
• Container Farm
• Indoor Vertical farm
• Glass or Poly Greenhouse
• Others
Basedon Facility Type, the market is segmented into Indoor DWC System, ContainerFarm, Indoor Vertical farm, Glass or Poly Greenhouse, and Others. Indoor DWC(Deep Water Culture) is a hydroponic method of plant production by suspendingthe plant roots in a solution of nutrient-rich oxygenated water. This methoduses a rectangular tank less than one foot deep filled with a nutrient-richsolution with plants floating in Styrofoam boards on top.
Itcreates a near-frictionless conveyor belt of floating rafts. Container farmrefers to the practice of doing indoor farming inside shipping containers.Indoor vertical farming refers to the practice of growing produce stacked oneabove another in a closed and temperature-controlled environment. Polygreenhouses use a specialized polythene sheet as a covering material underwhich the crops can be grown in partially or fully controlled climaticconditions.
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IndoorFarming Technology Market, By Growing System
•Soil-Based
• Aquaponics
• Aeroponics
• Hydroponics
• Hybrid
• Others
Basedon Growing System, the market is segmented into Soil-Based, Aquaponics,Aeroponics, Hydroponics, Hybrid, and Others. Soil-based growing system have atraditional foundation of harvesting crops where the cultivations take place ona soil base. Aquaponics is a form of agriculture that combines raising fish intanks with soilless plant culture. In this method, the nutrient-rich water fromraising fish provides a natural fertilizer for the plants which helps to purifythe water for the fish.
Aeroponicsis the process of growing plants in an air or mist environment without the useof soil. Hydroponics is a method of cultivating crops directly in nutrient-richwater. Hybrid plant growing systems are designed specifically for growingplants at urban homes, communities, and small farm gatherings without the needfor soil.
IndoorFarming Technology Market, By Crop Type
•Fruits and Vegetables
• Flowers and Ornamentals
• Herbs and Microgreens
• Others
Basedon Crop Type, the market is segmented into Fruits and Vegetables, Flowers andOrnamentals, Herbs and Microgreens, and Others. Fruits and vegetables are themost popular type of crop cultivated in indoor farming. Flowers and ornamentalscan also be cultivated using this method. One can choose to opt for hybrid farmingto grow species of flowers and ornamentals at an urban home. Microgreens arethe seeding of vegetables and herbs. They are an emerging type of specialtyvegetable that is capable of being cultivated at urban homes using indoorfarming technology.
IndoorFarming Technology Market, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the world
Onthe basis of Geography, the Global Indoor Farming Technology Market isclassified into North America, Europe, Asia Pacific, and Rest of the world.
KeyPlayers In Indoor Farming Technology Market
The“Global Indoor Farming Technology Market” study report will provide a valuableinsight with an emphasis on the global market. The major players in the marketare AmericanPasteurization Company, Universal Pure, NextHPP, EXDIN Solutions, HarwoodEngineering Company Inc, Helipspectra AB, General Hydroponics, Vertical FarmsSystems, Richel Group & Logiqs.
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