Asia Pacific Indoor Farming Market

Asia Pacific Indoor Farming Market Size (2022 - 2027)

The Asia Pacific Indoor Farming market is estimated to be the fastest-growing regional sector around the world and is likely to increase much further with supportive government initiatives during the forecast period of 2022 - 2027.

Market Drivers

One of the major driving factors that help the growth of the Asia Pacific Indoor Farming market is the rise in demand for fresh foods with higher nutritive value. The increase in populations in nations like India, China, etc., has augmented the need for food production, which is acting positively for the APAC indoor farming market. Also, the decrease in cultivation land due to rapid urbanization is also propelling the need for indoor farming in this area. Rising calls for higher yields using limited space and water are some of the additional factors supporting developments in the Asia Pacific Indoor Farming market.

Market Challenges

Factors such as high investment and initial costs, limitations involved with labor and workforce are the major restraints that are challenging the growth of the Indoor Farming market in the Asia Pacific region.

Market Segmentation

APAC Indoor Farming Market – By Installation:

• Greenhouses

• Indoor Vertical Farms

• Container Farms

• Others

Among these, the greenhouses segment holds a prominent share of the regional market.

APAC Indoor Farming Market – By Technology:

• Hardware

• Software & Services

• Integrated System

Hardware components such as climate control systems and lighting systems are used to control the climate, which finds increased demand in the worldwide market.

APAC Indoor Farming Market – By Cultivation Method:

• Hydroponics

• Aeroponics

• Aquaponics

• Soil-Based and Hybrid

Of these, the hydroponics method is known to control several associated risks and offer sufficient fresh produce.

APAC Indoor Farming Market – By Product:

• Fruits & Vegetables

• Herbs & Microgreens

• Medicinal Crops

• Other Types

In general, indoor farming is largely used for the cultivation of fruits & vegetables such as leafy vegetables, cucumbers, tomatoes, potatoes, and eggplants.

APAC Indoor Farming Market – By Region:

The Asia Pacific region is expected to increase in the market of Indoor Farming owing to the rising need for fresh food with the burgeoning population, especially in countries such as India, China, etc. The regional market is also estimated to record significant growth in the coming years due to the increasing government subsidies.  

Key market players:

Some of the key players of the Indoor Farming market are Vertical Farm Systems, Richel Group, LumiGrow, Logiqs, Illumitex, Philips Lighting, Hydrodynamics International, General Hydroponics, EVERLIGHT Electronics, Netafim, Argus Controls Systems, and Agrilution.

COVID-19 impact on the Asia Pacific Indoor Farming Market

The Asia Pacific region has been affected a lot due to the coronavirus pandemic more than any other region as the first case was found in China, and it has been spread all over the world with the greatest number of cases recorded in the Asia Pacific nations like India, China, etc. COVID-19 pandemic has impacted the business by directly affecting the production, creating supply chain disturbance and financial crisis. Due to COVID-19, many sectors have impacted like restaurants, manufacturing units, flights, traveling and so many sectors to halt their services.

Because of the coronavirus, the Asia Pacific Indoor Farming market is also facing difficulties and huge financial losses due to the strict lockdown conditions in several nations. As per the analysis, experts from the industry are predicting that the industry will boost up and will be back to the normal stage once the vaccine gets released. The government has already lifted the lockdown in most of the countries and gave permission for the companies to start their businesses with strict rules and regulations, which is likely to positively influence the indoor farming market in this locale.