Indoor Farming Market Set to Bloom, Reaching Nearly USD 47.2 Billion by 2030
The indoor farming market is flourishing, with a projected value of nearly USD 47.2 billion by 2030. This translates to a steady CAGR (Compound Annual Growth Rate) of 11% from 2024 to 2030, according to a new report by Maximize Market Research.
Growing Demand for Sustainable Agriculture
The indoor farming market is driven by a growing consumer preference for fresh, local, and sustainable produce. This method of agriculture offers several advantages, including:
- Reduced reliance on traditional farming methods that can be susceptible to weather and pests.
- Increased yield per square foot of land.
- Year-round production of crops.
Market in Detail
The Maximize Market Research report provides a comprehensive analysis of the indoor farming market, segmented by:
- Growing System: Aeroponics, soil-based, aquaponics, hydroponics, and hybrid options.
- Facility Type: Glass or poly greenhouses, indoor vertical farms, container farms, low-tech plastic hoop houses, and indoor deep water culture (DWC) systems.
- Crop Type: Tomatoes, flowers, herbs, microgreens, leafy greens, and others.
Key Players Shaping the Industry
North America, Europe, and Asia-Pacific are leading the indoor farming market, with prominent players including:
- North America: AeroFarms, Plenty Unlimited Inc., Bowery Farming, BrightFarms, Gotham Greens (USA), Argus Control System Limited (Canada)
- Europe: Infarm (Germany), GrowUp Farms (UK), Jones Food Company (UK), LettUs Grow (UK), UrbanFarmers AG (Switzerland), Richel Group (France), Agrilution (Germany)
- Asia-Pacific: Spread Co. Ltd. (Japan), Sky Greens (Singapore), UrbanKisaan (India), SananBio (China), Crop One Holdings (Singapore)
Regional Landscape
North America is expected to hold a significant share in the near future due to the presence of established players and a strong focus on technological advancements. However, Asia-Pacific is projected to witness the fastest growth due to factors like rising disposable incomes, increasing urbanization, and government initiatives promoting sustainable agriculture.
COVID-19 Impact
The COVID-19 pandemic highlighted the vulnerabilities of traditional supply chains, leading to a surge in interest in indoor farming as a more resilient and controlled food production method.
Unveiling the Future of Indoor Farming
The report explores key questions such as:
- What factors are driving the growth of the indoor farming market?
- Which segment is expected to dominate the market?
- What are the key trends shaping the future of indoor farming?
- How is the indoor farming market expected to perform in different regions?
Table of Contents:
Chapter 1: Overview
Chapter 2: Global Market Status and Forecast by Regions
Chapter 3: Global Market Status and Forecast by Types
Chapter 4: Global Market Status and Forecast by Downstream Industry
Chapter 5: Market Driving Factor Analysis
Chapter 6: Market Competition Status by Major Manufacturers
Chapter 7: Major Manufacturers Introduction and Market Data
Chapter 8: Upstream and Downstream Market Analysis
Chapter 9: Cost and Gross Margin Analysis
Chapter 10: Marketing Status Analysis
Chapter 11: Market Report Conclusion
Chapter 12: Research Methodology and Reference
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