Indoor Farming Market Forecast 2020 – 2027 Top Key Players Analysis

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including growing system, facility type, component, crop type, and regions.

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Leading Players in the Indoor Farming Market:

The Indoor Farming Market is fairly fragmented, and a number of global and regional players operating in the market are:

  • Everlight Electronics Co., Ltd.
  • Signify Holding
  • Netafim
  • Argus Control Systems Limited
  • Logiqs B.V.
  • LumiGrow
  • Vertical Farm Systems
  • Illumitex
  • General Hydroponics
  • Hydrodynamics International

Indoor Farming Market drivers:

The growing adoption of indoor farming across various countries due to its numerous advantages over the traditional methods of farming, such as enhances efficiency and provides the ability to allow farming in a limited space, are certain factors surging the growth of indoor farming market. Moreover, various technological advancements and research & development activities in indoor farming, such as the introduction of IoT in the farming sector, have helped optimize food production. This factor will encourage the farmers towards the adoption of the indoor farming method.

The growing population growth rate and increasing urbanization are leading to an upsurge in demand for food, which in turn, is encouraging the demand for the market. The indoor farming market reduces the effects of severe climatic changes on the yields and offers ample water to the crops. Furthermore, the rising initiatives by the governments to offer subsidies and support programs for the adoption of indoor farming to decrease the use of water and improve the efficiency in production is further boosting the growth of the global indoor farming market. For example, USDA and the Department of Energy held a stakeholder workshop focusing on the rising adoption of vertical agriculture and to identify the challenges, needs, and opportunities for vertical farming. On the other hand, the high need for initial investments and a shortage of skilled personnel will hamper the growth of the market.

The recent outbreak of the coronavirus crisis has adversely impacted the global indoor farming market, particularly in 2020. The growing emphasis of farmers refusing to go to the field area due to the unavailability of facemasks to maintain social distancing is the major factor that encourages the farmers to adopt indoor farming practices. Moreover, the farmers are widely adopting vertical indoor farming to tackle a range of problems such as close to the area of consumption, organic crop, less contact of the crop with the external environment, and minimum natural resources usage.

Indoor Farming Market Segmentation:

According to the report published by GMI Research, titled “Indoor Farming Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Growing System:

  • Hydroponics
  • Aeroponics
  • Soil-Based
  • Aquaponics
  • Hybrid

By Facility Type:

  • Indoor Vertical Farms
  • Glass or Poly Greenhouses
  • Indoor Deep Water Culture (DWC) Systems
  • Container Farms

By Component:

  • Hardware

o Lighting Systems

o Climate Control Systems

o Sensors

o Communication Systems

o Irrigation Systems

o System Controls

o Others

  • Software & Services

By Crop Type:

  • Herbs & Microgreens

o Herbs

o Basil

o Wheatgrass

o Tarragon

  • Fruits & Vegetables

o Tomato

o Leafy Greens

  • Kale
  • Lettuce
  • Spinach
  • Others

o Eggplant

o Strawberry

o Others

  • Flowers & Ornamentals

o Annuals

o Perennials

o Ornamentals

  • Others

By Region:

  • North America

o United States of America

o Canad

  • Asia Pacific

o China

o Japan

o India

o Rest of APAC

  • Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

  • RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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