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Pulished Date April, 2021
ID: 9592
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Indoor Farming Technology Market By Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type (Glass or Poly Greenhouses, Container Farms, Indoor Vertical Farms and Indoor Deep Water Culture (DWC) Frameworks), Component (Hardware and Software and Solutions), Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals), and Region - Forecast to 2026

Pulished: April, 2021
ID: 9592
Pages: 175

Indoor Farming Technology Market Growth & Size (2021-2026):

The Indoor Farming Technology Market is deemed to reach up to USD 40.25 billion by 2026 from USD 25.4 billion in 2021, at a CAGR of 9.65%. The market is driven by the ascent sought after for new nourishments with high nutritive worth, the requirement for better returns utilizing restricted space and water, and the lesser effect of outside climate conditions. Then again, the high introductory venture is one of the variables limiting the development of the indoor farming technology market.

The worldwide food economy is in effect continuously constrained by the progressive change in food utilization designs. Indoor farming is an ideal option in contrast to traditional farming, which has been embraced since the mid-1900s, however at non-business and little scopes. The act of developing harvests in greenhouses, which have been overwhelmingly low-tech, has been in presence for quite a while.

Effect of Covid-19 On Indoor Farming Technology Market:

As we see developing degrees of concern, proposals for social distancing, diminished travel, maintaining a strategic distance from groups, terminations, and other defensive practices to slow the spread of COVID-19, shoppers will settle on extreme decisions about food, consumption from home, and in general spending. Dairy is noticeably included in out-of-home eating, and there might be a few interruptions in food administration deals. This will probably affect markets and costs. There have additionally been bottlenecks at ports in different nations as boats stand by to be offloaded with U.S. dairy and other homestead items. The Chicago Mercantile Exchange has closed down floor exchanging of all items until further notification.

Recent Developments:

  • In 2017, AeroFarms, the aeroponics giant situated in the US, included IKEA Group and Momofuku Group for speculations worth USD 40 million for its worldwide development.
  • In January 2018, Philips Lighting has displayed its GreenPower LED top lighting at IPM Essen, Germany. This new form offers higher light adequacy, longer lifetime of 35,000 consuming hours, and high vitality productivity contrasted with the previous top lighting module.
  • In July 2017, Softbank (Japan) put USD 200 million in Plenty (US), a Silicon Valley fire up for vertical homestead technology.
  • In August 2014, FarmedHere LLC (US) banded together with Illumitex, Inc. (US), a main lighting arrangement supplier, to develop crops utilizing less vitality and lighting frameworks given by Illumitex, Inc.

Drivers and Restraints of Indoor Farming Technology Market:

Less accessible arable land, developing interest for new and nutritious food, expanding appropriation of ensured development and lesser effect of outside climate conditions are a portion of the essential variables which are boosting the market for Indoor Farming Technology. Because of the expanding populace and urbanization, the land accessible for farming is constantly diminishing. Arable land per individual is contracting.

It has dropped from 0.38 ha in 1970 to 0.23 ha in 2000, with an anticipated decay to 0.15 ha per individual by 2050. In this manner, right now, there is a requirement for better returns utilizing restricted space and water, which is advancing the act of Indoor Farming, boosting the interest for Indoor Farming technology. The high starting venture cost can be a restriction to the development of Indoor Farming Technology Market all-inclusive.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

9.65%

Segments Covered

Growing System, Components, Facility Type

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

  • AeroFarms
  • BrightFarms Inc.
  • Bowery Inc.
  • FreshBox Farms
  • Metropolis Farms Inc.
  • Philips Lighting

Market Segmentation:

The worldwide indoor farming technology market is partitioned into the

  • Growing system
  • Components
  • Facility type
  • Other crop types.

Hydroponics, aeroponics, aquaponics, soil-based, and hybrid are the growing system portion of the market. A component portion of the worldwide indoor farming technology market is fragmented into hardware, and software and services. Glass or poly greenhouses, container farms, indoor vertical farms, and indoor deep-water culture (DWC) frameworks are the fragments based on facility type. Moreover, in view of crop type, the market is fragmented into fruits and vegetables, herbs and microgreens, flowers and ornamentals, and other crop types.

In view of components, the hardware portion is anticipated to develop at a higher rate during the figure time frame. The three significant segments in the hardware portion incorporate climate control frameworks, lighting, and irrigation system frameworks. A climate control framework is maybe the absolute most significant technology in an indoor farming facility, as it permits ranchers to make the perfect condition for all-year production. Henceforth, the section is anticipated to record a moderately higher CAGR of 9.88% from 2021 to 2026

By facility, the glass or poly greenhouses fragment represented the biggest portion of the indoor farming technology market in 2019. Greenhouses are commonly used to develop tomatoes, potatoes, and cucumbers. A huge portion of this section can be credited to the high appropriation of this procedure in nations, for example, the US and China. This procedure expends less vitality and requires a lesser number of work hours, which makes it more moderate than indoor vertical farms.

Regional Analysis:

Europe was the biggest indoor farming technology market in 2020. This strength can be credited to the high appropriation of exactness farming and secured agribusiness in this area. Also, as a reaction to the development popular for food, fast urbanization, an expansion in the requirement for new beneficial soils, indoor farming is relied upon to be the main farming technology and a monetarily reasonable arrangement in this area.

North America represented the biggest portion in the global indoor farming industry in 2018. With the assistance of high-effectiveness LED lights and improved indoor administration rehearses, the US cultivators have had the option to embrace huge scope indoor farming and are relied upon to decrease vitality lighting costs by half, henceforth diminishing the carbon impression of controlled condition agribusiness. According to the United States Department of Agriculture (USDA), the normal yield of customary lettuce farming multiplied by two folds, when developed through vertical farming. As indicated by the United Nations Food and Agriculture Organization, drylands in Mexico possess around 101.5 million hectares of land, consequently pushing the requirement for indoor farming technology. Canada has likewise observed a positive development pattern, contributing fundamentally to the world fares of hydroponically developed tomatoes. The development of hydroponics and aeroponics frameworks in the district is further driving the general indoor farming market, significantly because of the expanding center around embracing creative and effective technologies to improve the yields.

Key Players:

  • AeroFarms
  • BrightFarms Inc.
  • Bowery Inc.
  • FreshBox Farms
  • Metropolis Farms Inc.
  • Philips Lighting
  • Netafim 
  • Argus Controls Systems
  • LumiGrow

1. Introduction                                 

                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                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                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        

                                5.1.2 Products/Service  

                                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   

                                6.1.1 Hydroponics           

                                6.1.2 Aeroponics             

                                6.1.3 Aquaponics             

                                6.1.4 Soil-based               

                                6.1.5 Hybrid       

   6.1.6 Market Size Estimations & Forecasts (2021-2026)   

      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 (2021-2026)   

           6.2.6 Y-o-Y Growth Rate Analysis             

                                6.2.7 Market Attractiveness Index          

     6.3 Indoor Farming Technology Market, By Component   

                                6.3.1 Hardware

                                6.3.2 Software and Solutions     

     6.3.3 Market Size Estimations & Forecasts (2021-2026)   

           6.3.4 Y-o-Y Growth Rate Analysis             

                              6.3.5 Market Attractiveness Index         

                                               6.4.1 Fruits & Vegetables      

                                6.4.2 Herbs & Microgreens         

                                6.4.3 Flowers & Ornamentals     

   6.4.4 Market Size Estimations & Forecasts (2021-2026)   

           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 - 2026)       

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                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 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 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              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 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              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 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              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                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 AeroFarms                  

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                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                          

                8.7 Netafim                       

                8.8 Argus Controls Systems                        

                8.9 LumiGrow                   

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Indoor Farming Technology Market By Region, From 2021-2026 ( USD Billion )
  2. Global Indoor Farming Technology Market By Growing System, From 2021-2026 ( USD Billion )
  3. Global Hydroponics Market By Region, From 2021-2026 ( USD Billion )
  4. Global Aeroponics Market By Region, From 2021-2026 ( USD Billion )
  5. Global Aquaponics Market By Region, From 2021-2026 ( USD Billion )
  6. Global Soil-based Market By Region, From 2021-2026 ( USD Billion )
  7. Global Hybrid Market By Region, From 2021-2026 ( USD Billion )
  8. Global Indoor Farming Technology Market By Facility Type, From 2021-2026 ( USD Billion )
  9. Global Glass or Poly Greenhouses Market By Region, From 2021-2026 ( USD Billion )
  10. Global Container Farms Market By Region, From 2021-2026 ( USD Billion )
  11. Global Indoor Vertical Farms Market By Region, From 2021-2026 ( USD Billion )
  12. Global Indoor Deep Water Culture (DWC) Frameworks Market By Region, From 2021-2026 ( USD Billion )
  13. Global Indoor Farming Technology Market By Component, From 2021-2026 ( USD Billion )
  14. Global Hardware Market By Region, From 2021-2026 ( USD Billion )
  15. Global Software and Solutions Market By Region, From 2021-2026 ( USD Billion )
  16. Global Indoor Farming Technology Market By Crop Type, From 2021-2026 ( USD Billion )
  17. Global Fruits & Vegetables Market By Region, From 2021-2026 ( USD Billion )
  18. Global Herbs & Microgreens Market By Region, From 2021-2026 ( USD Billion )
  19. Global Flowers & Ornamentals Market By Region, From 2021-2026 ( USD Billion )

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