Indoor Farming Market |Growth, Trends, and Forecast (2020

Indoor Farming Market - Growth, Trends, and Forecast (2020 - 2025)

The Global Indoor Farming Market report offers a detailed analysis of the market size, trends, drivers and restraints, industry attractiveness, competitiveness and long-term forecast to 2025. The report is segmented by the Growing System (Aeroponics, Hydroponics, Aquaponics, Soil-Based, Hybrid), Facility Type (Glass or Poly Greenhouses, Indoor Vertical Farms, Container Farms, Indoor Deep Water Culture Systems and Others) and Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals and Others). The market also includes a Geography-based segmentation analysis covering over 16 countries across the world.

ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
TABLE OF CONTENTS

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Europe

Largest Market:

North America

CAGR:

2.5 %

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Market Overview

Global Indoor Farming Market was valued at USD 112.63 billion in 2019, and it is projected to reach USD 131.22 million by 2025, registering a CAGR of 2.5% during the forecast period.

In 2019, Soil-based indoor farming accounted for a revenue of USD 54.43 billion which is the highest among the various growing type in the market. Its ability to fasten the harvesting cycle of the plants when compared to traditional farming is driving its market growth.
By Facility type, Indoor Vertical Farm has witnessed the highest CAGR of 4.9% during the forecast period. The increase in demand for sustainable food production in the Middle East countries where achieving this demand is possible by adopting Indoor vertical farming technologies in agriculture.
North America accounted for the largest market share in 2019. The US is a major contributor to the share in the region, followed by Canada and Mexico.
The market for indoor farming is highly fragmented with the top players accounting for a minor share and the other small companies capturing the lion's share in the market. Some of the notable players in the market are AeroFarms, Bright Farms Inc., Bowery Inc., FreshBox Farms, Metropolis Farms Inc., Garden Fresh Farms, Village Farms International Inc and others.

Scope of the Report

The market for indoor farming is experiencing rapid growth owing to the limited land use, water efficiency and the benefits of controlled farming devoid of any climate change. The advent of indoor farming has also spurred concern over the environmental impact of conventional farming practices, globally. The indoor farming market report is segmented on the basis of the current growing systems, facility type, and various crop types. The report also includes a segmentation analysis based on geography covering all the major countries across the world.

Growing System
		Aeroponics
		Hydroponics
		Aquaponics
		Soil-Based
		Hybrid

Facility Type
		Glass or Poly Greenhouses
		Indoor Vertical Farms
		Container Farms
		Indoor Deep Water Culture Systems
		Others

Crop Type

Fruits & Vegetables

Leafy Vegetables
	Lettuce
	Kale
	Spinach
	Others

Tomato

Strawberry

Eggplant

Others

Herbs and Microgreens
	Basil
	Herbs
	Tarragon
	Wheatgrass
	Others

Flowers and Ornamentals
	Perennials
	Annuals
	Ornamentals
	Others

Others

Geography

North America
	US
	Canada
	Mexico
	Rest of North America

Europe
	Germany
	UK
	France
	Russia
	Spain
	Rest of Europe

Asia Pacific
	China
	Japan
	India
	Australia
	Singapore
	South Korea
	Rest of Asia-Pacific

South America
	Brazil
	Argentina
	Rest of South America

Africa
	South Africa
	Rest of Africa

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Key Market Trends

Increasing Need For Maximizing Crop Yield

One of the main reasons for the diminishing yield is that the cultivable land is shrinking from year to year. The other reasons for lower yield are unfavorable weather conditions, like droughts, floods, soil erosion, and heavy utilization of pesticides, which is decreasing the fertility of the soil, globally. The main reasons for maximizing crop yields are to feed the increasing population and meet the demand for food. High yield of good quality within small regions may be achieved using advanced farming techniques, like indoor farming. An increase in health consciousness and consumption of residue-free food has paved the way for the usage of advanced techniques, like indoor farming. People are growing the necessary crops in their own houses on a small scale, in order to have food that is free from pests and this has resulted in a higher yield. Therefore, the increasing need for maximizing crop yields is expected to drive the indoor farming market in the future.

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North America Dominates By Being The Largest Market for Indoor Farming

North America accounted for the largest share in the global indoor farming industry in 2018. With the help of high-efficiency LED lights and enhanced indoor management practices, the US growers have been able to adopt large scale indoor farming and are expected to reduce energy lighting costs by 50%, hence reducing the carbon footprint of controlled environment agriculture. As per the United States Department of Agriculture (USDA), the average yield of conventional lettuce farming doubled by two folds, when cultivated through vertical farming. According to the United Nations Food and Agriculture Organisation, drylands in Mexico occupy approximately 101.5 million hectares of land, thereby thrusting the need for indoor farming practices. Canada has also seen a positive growth trend, contributing significantly to the world exports of hydroponically grown tomatoes. The growth of hydroponics and aeroponics systems in the region is further driving the overall indoor farming market, majorly due to the increasing focus on adopting innovative and efficient technologies to improve the yields.

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Competitive Landscape

The market for indoor farming is highly fragmented with the top players accounting for a minor share and the other small companies capturing the major share in the market. Some of the notable players in the market are AeroFarms, Bright Farms Inc., Bowery Inc., FreshBox Farms, Metropolis Farms Inc., Garden Fresh Farms, Village Farms International Inc and others. The most adopted strategies for these companies have been mergers and acquisitions as well as incurring investments for setting up farms globally. For instance, AeroFarms, the aeroponics giant based in the US, included IKEA Group and Momofuku Group for investments worth USD 40 million for its global expansion in 2017.

Major Players

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1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
1. 4.1 Market Overview
2. 4.2 Introduction to Market Drivers and Restraints
3. 4.3 Market Drivers
4. 4.4 Market Restraints
5. 4.5 Industry Attractiveness - Porter's Five Force Analysis
  1. 4.5.1 Threat of New Entrants
  2. 4.5.2 Bargaining Power of Buyers/Consumers
  3. 4.5.3 Bargaining Power of Suppliers
  4. 4.5.4 Threat of Substitute Products
  5. 4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
1. 5.1 Growing System
  1. 5.1.1 Aeroponics
  2. 5.1.2 Hydroponics
  3. 5.1.3 Aquaponics
  4. 5.1.4 Soil-Based
  5. 5.1.5 Hybrid
2. 5.2 Facility Type
  1. 5.2.1 Glass or Poly Greenhouses
  2. 5.2.2 Indoor Vertical Farms
  3. 5.2.3 Container Farms
  4. 5.2.4 Indoor Deep Water Culture Systems
  5. 5.2.5 Others
3. 5.3 Crop Type
  1. 5.3.1 Fruits & Vegetables
    1. 5.3.1.1 Leafy Vegetables
      1. 5.3.1.1.1 Lettuce
      2. 5.3.1.1.2 Kale
      3. 5.3.1.1.3 Spinach
      4. 5.3.1.1.4 Others
    2. 5.3.1.2 Tomato
    3. 5.3.1.3 Strawberry
    4. 5.3.1.4 Eggplant
    5. 5.3.1.5 Others
  2. 5.3.2 Herbs and Microgreens
    1. 5.3.2.1 Basil
    2. 5.3.2.2 Herbs
    3. 5.3.2.3 Tarragon
    4. 5.3.2.4 Wheatgrass
    5. 5.3.2.5 Others
  3. 5.3.3 Flowers and Ornamentals
    1. 5.3.3.1 Perennials
    2. 5.3.3.2 Annuals
    3. 5.3.3.3 Ornamentals
    4. 5.3.3.4 Others
  4. 5.3.4 Others
4. 5.4 Geography
  1. 5.4.1 North America
    1. 5.4.1.1 US
    2. 5.4.1.2 Canada
    3. 5.4.1.3 Mexico
    4. 5.4.1.4 Rest of North America
  2. 5.4.2 Europe
    1. 5.4.2.1 Germany
    2. 5.4.2.2 UK
    3. 5.4.2.3 France
    4. 5.4.2.4 Russia
    5. 5.4.2.5 Spain
    6. 5.4.2.6 Rest of Europe
  3. 5.4.3 Asia Pacific
    1. 5.4.3.1 China
    2. 5.4.3.2 Japan
    3. 5.4.3.3 India
    4. 5.4.3.4 Australia
    5. 5.4.3.5 Singapore
    6. 5.4.3.6 South Korea
    7. 5.4.3.7 Rest of Asia-Pacific
  4. 5.4.4 South America
    1. 5.4.4.1 Brazil
    2. 5.4.4.2 Argentina
    3. 5.4.4.3 Rest of South America
  5. 5.4.5 Africa
    1. 5.4.5.1 South Africa
    2. 5.4.5.2 Rest of Africa
6. COMPETITIVE LANDSCAPE
1. 6.1 Most Adopted Strategies
2. 6.2 Market Share Analysis
3. 6.3 Company Profiles
  1. 6.3.1 AeroFarms
  2. 6.3.2 Bright Farms Inc.
  3. 6.3.3 Bowery Inc.
  4. 6.3.4 FreshBox Farms
  5. 6.3.5 Metropolis Farms Inc.
  6. 6.3.6 Garden Fresh Farms
  7. 6.3.7 Village Farms International Inc
  8. 6.3.8 Green Sense Farms LLC
  9. 6.3.9 Sky Greens (Sky Urban Solutions)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS