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 2020-2025.
One of the major driving factors that helps 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.
Factors such as high investment and initial costs, limitations involved with labour and workforce are the major restraints which are challenging the growth of Indoor Farming market in the Asia Pacific region.
The Asia Pacific Indoor Farming market is segmented on the basis of technology, on the basis of installation, on the basis of cultivation method and on the basis of product.
On the basis of installation, the Asia Pacific Indoor Farming market is divided into greenhouses, indoor vertical farms, container farms and others. Among these, the greenhouses segment holds the prominent share of the regional market.
On the basis of technology, the Asia Pacific Indoor farming market is segmented into hardware, software & services, and 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.
On the basis of cultivation method, the Asia Pacific Indoor Farming market is segmented into hydroponics, aeroponics, aquaponics, soil based and hybrid. Of these, the hydroponics method is known to control several associated risks and offer sufficient fresh produce.
On the basis of product, the market of Indoor Farming in the Asia Pacific is segmented into fruits & vegetables, herbs & microgreens, medicinal crops and other types. In general, the indoor farming is largely used for the cultivation of fruits & vegetables such as leafy vegetables, cucumbers, tomatoes, potatoes, and eggplants.
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 (Australia), Richel Group (France), LumiGrow (US), Logiqs (Netherlands), Illumitex (US), Philips Lighting (Netherlands), Hydrodynamics International (US), General Hydroponics (US), EVERLIGHT Electronics (Taiwan), Netafim (Israel), Argus Controls Systems (Canada) and agrilution (Germany).
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, 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.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Indoor Farming Technology Market, By Growing System
6.1.6 Market Size Estimations & Forecasts (2019-2024)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Indoor Farming Technology Market, By Facility Type
6.2.1 Glass or Poly Greenhouses
6.2.2 Container Farms
6.2.3 Indoor Vertical Farms
6.2.4 Indoor Deep Water Culture (DWC) Frameworks
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Indoor Farming Technology Market, By Component
6.3.2 Software and Solutions
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Indoor Farming Technology Market, By Crop Type
6.4.1 Fruits & Vegetables
6.4.2 Herbs & Microgreens
6.4.3 Flowers & Ornamentals
6.4.4 Market Size Estimations & Forecasts (2019-2024)
6.4.5 Y-o-Y Growth Rate Analysis
6.4.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Growing System
7.2.3 By Facility Type
7.2.4 By Component
7.2.5 By Crop Type
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Growing System
7.3.3 By Facility Type
7.3.4 By Component
7.3.5 By Crop Type
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Growing System
7.4.3 By Facility Type
7.4.4 By Component
7.4.5 By Crop Type
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Growing System
7.5.3 By Facility Type
7.5.4 By Component
7.5.5 By Crop Type
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Growing System
7.6.3 By Facility Type
7.6.4 By Component
7.6.5 By Crop Type
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 BrightFarms Inc.
8.3 Bowery Inc.
8.4 FreshBox Farms
8.5 Metropolis Farms Inc.
8.6 Philips Lighting
8.8 Argus Controls Systems
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures