Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) — The “Indoor Farming Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This Indoor Farming market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The indoor farming market size has grown rapidly in recent years. It will grow from $26.79 billion in 2023 to $29.76 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth during the historic period can be attributed to factors such as rising urbanization, increased investment in agricultural technology, heightened concerns about food security, advancements in crop genetics through research and development, and an increase in disposable incomes.
The indoor farming market size is expected to see rapid growth in the next few years. It will grow to $45.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth during the forecast period can be attributed to rising demand for organic food, increasing adoption of eco-friendly fruit and vegetable production methods, growing preference for locally sourced, nutritious food, a surge in demand for fresh crops, and a rise in the demand for vegan vegetables. Key trends expected to shape the forecast period include technological advancements, the production of pesticide-free produce, sustainable farming practices, precision farming, and advanced nutrient delivery systems.
The growing demand for organic food is expected to drive the expansion of the indoor farming market in the future. Organic food is defined as products cultivated and processed without synthetic chemicals, pesticides, fertilizers, genetically modified organisms (GMOs), or artificial additives. This demand arises from increased consumer awareness of health benefits, environmental sustainability, and a preference for natural, chemical-free products.
Indoor farming supports organic food production by offering a controlled environment where crops can be grown without synthetic pesticides, fertilizers, or GMOs, thus meeting organic standards while optimizing plant health and productivity. For example, The Organic Research Centre, a UK-based non-profit, reported that sales of organic food and beverages in the UK increased from £3.05 billion ($3.88 billion) in 2021 to £3.11 billion ($3.95 billion) in 2022. Consequently, the rising demand for organic food is fueling the growth of indoor farming.
Leading companies in the indoor farming market are focusing on developing innovative solutions such as vertical hydroponic farms to improve efficiency and sustainability in agriculture. Vertical hydroponic farms use vertically stacked layers or towers to grow plants using hydroponic methods.
North America was the largest region in the indoor farming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the indoor farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The major companies profiled in this Indoor Farming market report include:
- Signify Holding B.V.
- The Scotts Miracle-Gro Company
- Priva BV
- Bowery Farming Inc.
- Plenty Unlimited Inc.
- Agritecture Consulting LLC
- AeroFarms LLC
- Certhon
- Argus Control Systems Ltd.
- Fluence Bioengineering Inc.
- UrbanKisaan
- BrightFarms Inc.
- Iron Ox Inc.
- Superior Fresh LLC
- FreshBox Farms
- Hydrodynamics International Inc.
- Metropolis Farms Inc.
- Innovation Agritech Group Ltd.
- Gotham Greens Holdings LLC
- Crop One Holdings Inc.
- Farmshelf
- Illumitex Inc.
- ZipGrow Inc.
- LumiGrow Inc.
- GrowUp Farms Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $29.76 Billion |
| Forecasted Market Value (USD) by 2028 | $45.53 Billion |
| Compound Annual Growth Rate | 11.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Indoor Farming Market Characteristics
3. Indoor Farming Market Trends and Strategies
4. Indoor Farming Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Indoor Farming Market Size and Growth
5.1. Global Indoor Farming Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Indoor Farming Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Indoor Farming Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Indoor Farming Market Segmentation
6.1. Global Indoor Farming Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.2. Global Indoor Farming Market, Segmentation by Crop Category, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Fruits, Vegetables and Herbs
- Flowers and Ornamentals
- Other Crop Category
6.3. Global Indoor Farming Market, Segmentation by Growing System, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Aeroponics
- Hydroponics
- Aquaponics
- Soil-Based
- Hybrid
6.4. Global Indoor Farming Market, Segmentation by Facility Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Glass or Poly Greenhouses
- Indoor Vertical Farms
- Container Farms
- Indoor Deep Water Culture Systems
- Other Facility Types
7. Indoor Farming Market Regional and Country Analysis
7.1. Global Indoor Farming Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Indoor Farming Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/xfd6yz
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