Introduction of Indoor Farming Market Report

Indoor farming is a modern method of farming that involves the cultivation of crops in an indoor space with a controlled and sustainable environment. The indoor farming enhances the overall quantity of crop yield by utilizing stacked layers of potted seeds and uses artificial lighting and technology for obtaining the required levels of light and nutrients. This type of farming is mostly related to the city or urban farming owing to its ability to flourish the farming in limited space.

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The indoor farming market is likely to experience a high growth in the upcoming years owing to the rising adoption of indoor farming across several economies as a result of its several advantages over the traditional methods of farming, such as improves efficiency and provides the ability to enable farming in a limited space. In addition to this, several technological advancements and research & development activities in the indoor farming such as the implementation of IoT, is leading to an optimization in the food production, which will further encourage the farmers to opt for this farming method.

The increasing population growth rate and rising urbanization are leading to a growth in the demand for food, which in turn, is surging the demand for the market. The indoor farming market eliminates the effects of severe climatic changes to the yields and provides ample water to the crops. Simultaneously, the increasing initiatives by the governments to provide subsidies and support programs for the adoption of indoor farming to reduce the use of water and enhance the efficiency in production is further bolstering the growth of the global indoor farming market. For instance, USDA and the Department of Energy held a stakeholder workshop aiming to support the adoption of vertical agriculture and to identify the needs, challenges, and opportunities for vertical farming. The factors that are responsible for restraining the growth of the global indoor farming market include the high requirement of initial investments and lack of skilled personnel.

The emergence of coronavirus crisis has largely impacted the global indoor farming market, especially in 2020. The increasing emphasis of farmers refusing to go to field area due to the unavailability of facemasks to maintain social distancing is the key factor which is encouraging the farmers to opt for indoor farming practices. Additionally, the farmers are largely adopting vertical indoor farming to tackle with a range of problems such as organic crop, close to the area of consumption, less contact of the crop with the external environment, and minimum usage of natural resources.

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Based on growing system, the hydroponics segment is expected to increase at a higher CAGR during the forecast period owing to the high adoption of this system of growing implementing indoor farming driven by its several advantages including more efficient use of water as compared to the traditional methods, reduced use of insecticide, & herbicides, enhanced growth rate, efficient use of nutrients and ability to perform at places where soil and weather conditions are not favorable.

Based on the facility type, the indoor vertical farms segment is anticipated to grow at a higher compound annual growth rate over the forecast period due to the increasing implementation of vertical farms for indoor farming across various countries because of their ability to optimize the energy consumption, use of no pesticides or herbicides and the offering of reliable harvests along with enhanced crop yield. Furthermore, the continuous technological advancements and inclination of consumers towards organic food will further energize the growth of the segment in the market.

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Based on the region, the Asia-Pacific region is anticipated to dominate the market during the forecast period owing to the increasing adoption of indoor farming across several countries such as Japan and China, to meet the challenge of varying climatic conditions. In addition, the accelerating population rate is leading to growth in the demand of food and diminishing of arable land and the increasing adoption of advanced technologies across Japan, China, and other countries having plenty of indoor vertical farms are some other factors bolstering the growth of the indoor farming market in this region.

Various notable players operating in the market include Everlight Electronics Co., Ltd., Signify Holding, Netafim, Argus Control Systems Limited, Logiqs B.V., LumiGrow, Vertical Farm Systems, Illumitex, General Hydroponics, and Hydrodynamics International, among others.

Key Developments:

• • In 2020, Signify Holding expanded its collaboration with Planet Farms, which is a European operator of vertical farms based in Italy. In this collaboration, the company is to provide Philips Greenpower LED production module managed with the Philips GrowWise Control System for the vertical farm to enhance the quality and yield of the crops.
  • In 2019, Argus Control Systems Limited entered into a strategic partnership with Hydrofarm Holdings Group, Inc., an independent wholesaler, and manufacturer of hydroponics equipment and commercial horticultural products. Through this partnership, the companies planned to offer advanced environmental systems and services for horticulture in the US. Argus offers complete control solutions for a full range of horticulture facilities by joining an understanding of greenhouse and indoor growing environments.

The global indoor farming market has been segmented on the basis of growing system, facility type, component, crop type, and region. Based on the growing system, the market is segmented hydroponics, aeroponics, soil-based, aquaponics, and hybrid. Based on the facility type, the market is segmented into indoor vertical farms, glass or poly greenhouses, indoor deep water culture (DWC) systems, and container farms. Based on the component, the market is segmented into hardware and software & services. The hardware segment is further categorized into lighting systems, climate control systems, sensors, communication systems, irrigation systems, system controls, and others. Based on the crop type, the market is segmented into herbs & microgreens, fruits & vegetables, flowers & ornamentals, and others. The herbs & microgreens segment is further categorized into herbs, basil, wheatgrass, and tarragon. The fruits & vegetables segment is further categorized into the tomato, leafy greens, eggplant, strawberry, and others. The leafy greens segment is further categorized into kale, lettuce, spinach, and others. The flowers & ornamentals segment is further categorized into annuals, perennials, and ornamentals.

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Key questions answered in this research report:

• • At what pace is the global indoor farming market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global indoor farming market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global indoor farming market?
  • Which growing system generated maximum revenues in 2019 and identify the most promising growing system during the forecast period?
  • What are the various components of indoor farming, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Growing System, By Facility Type, By Component, By Crop Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Everlight Electronics Co., Ltd., Signify Holding, Netafim, Argus Control Systems Limited, Logiqs B.V., LumiGrow, Vertical Farm Systems, Illumitex, General Hydroponics, and Hydrodynamics International, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Indoor Farming Market by Growing System

• • Hydroponics
  • Aeroponics
  • Soil-Based
  • Aquaponics
  • Hybrid

Global Indoor Farming Market by Facility Type

• • Indoor Vertical Farms
  • Glass or Poly Greenhouses
  • Indoor Deep Water Culture (DWC) Systems
  • Container Farms

Global Indoor Farming Market by Component

• • Hardware
    • Lighting Systems
    • Climate Control Systems
    • Sensors
    • Communication Systems
    • Irrigation Systems
    • System Controls
    • Others
  • Software & Services

Global Indoor Farming Market by Crop Type

• • Herbs & Microgreens
    • Herbs
    • Basil
    • Wheatgrass
    • Tarragon
  • Fruits & Vegetables
    • Tomato
    • Leafy Greens
      • Kale
      • Lettuce
      • Spinach
      • Others
    • Eggplant
    • Strawberry
    • Others
  • Flowers & Ornamentals
    • Annuals
    • Perennials
    • Ornamentals
  • Others

Global Indoor Farming Market by Region

• • North America Indoor Farming Market (Option 1: As a part of the free 25% customization)

• • • North America Market by Growing System
    • North America Market by Facility Type
    • North America Market by Component
    • North America Market by Crop Type
    • US Market All-Up
    • Canada Market All-Up

• • Europe Indoor Farming Market (Option 2: As a part of the free 25% Customization)

• • • Europe Market by Growing System
    • Europe Market by Facility Type
    • Europe Market by Component
    • Europe Market by Crop Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Indoor Farming Market (Option 3: As a part of the free 25% Customization)

• • • Asia-Pacific Market by Growing System
    • Asia-Pacific Market by Facility Type
    • Asia-Pacific Market by Component
    • Asia-Pacific Market by Crop Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Indoor Farming Market (Option 4: As a part of the free 25% Customization)

• • • RoW Market by Growing System
    • RoW Market by Facility Type
    • RoW Market by Component
    • RoW Market by Crop Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Indoor Farming Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Everlight Electronics Co., Ltd.
  • Signify Holding
  • Netafim
  • Argus Control Systems Limited
  • Logiqs B.V.
  • LumiGrow
  • Vertical Farm Systems
  • Illumitex
  • General Hydroponics
  • Hydrodynamics International