Indoor Farming - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Indoor Farming market accounted for $106.6 billion in 2017 and is expected to reach $171.12 billion by 2026 growing at a CAGR of 5.4 % during the forecast period. Factors such as growing mechanisms in indoor farming and increasing focus on adopting innovative and efficient technologies are boosting the market growth. However, limitations on crop varieties and high initial investments are the restraining the market growth. Moreover, increasing need for maximizing crop yields will provide ample growth opportunities in the near future.
Indoor farming is a kind of modern farming to grow crops or plants in an indoor environment. It is worked in both small and large scale. It is climate-friendly and shields the farm from climate-related ideas which generally acts as a hindrance in conventional crop production. It is widely practiced in urban areas owing to limited space for cultivating. In recent years, development in the technology of farming sensors, monitoring and regulating devices for each aspect of cultivation has promoted indoor farming.
By growing systems, hydroponics segment is going to have a lucrative growth during the forecast period owing to the application of its growth mechanism that mitigates the majority of dangers such as limited space in urban zones and low availability of water and it provides sufficient fresh produce. By geography, Asia Pacific is likely to have a huge demand due to an increase in the number of these farms in countries such as China and Japan, and the climate changes in this region.
Some of the key players in this market include Indoor Farms of America, Freshbox Farms, Aerofarms, Contain Inc., Philips Lighting, Garden Fresh Farms, Metropolis Farms and Bowery Farming.
Crop Types Covered:
• Herbs & MicrogreenS
• Flowers & Ornamentals
• Fruits & Vegetables
• Other Crop Types
Growing Systems Covered:
Facility Types Covered:
• Container Farms
• Indoor Deep Water Culture Systems
• Glass or Poly Greenhouses
• Indoor Vertical Farms
• Other Facility Types
• Software solutions
• Hardware solutions
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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