Indoor Farming Market Size

Indoor Farming Market Analysis

The Indoor Farming Market size is estimated at USD 27.52 billion in 2024, and is expected to reach USD 45.53 billion by 2029, growing at a CAGR of 10.60% during the forecast period (2024-2029).

• 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 to have food free from pests, resulting in a higher yield.
• Among the various growing types, soil-based indoor farming dominates the market. Its ability to enhance the harvesting cycle of plants, when compared to traditional farming, is driving its market growth. By facility type, glass or poly greenhouses occupy a larger market share, while the indoor deep-water culture system is anticipated to witness the highest CAGR during the forecast period. There is an increase in the demand for sustainable food production in the Middle East, which is achievable by adopting indoor vertical farming technologies in agriculture.
• North America accounted for the largest market share in 2021. The US is a major contributor to the region's share, followed by Canada and Mexico. One of the primary reasons indoor farming has been gaining significant traction is because of its ability to produce more with fewer resources. For example, as per the US Department of Agriculture (USDA), the average yield of conventional lettuce farming doubled twofold when cultivated through vertical farming. The indoor farming market in the Asia-Pacific region is growing rapidly, with the industry benefiting from government policies.