Indoor Farming Market is Expected to Grow at an Estimated CAGR of 9.19% during 2019-2025 | Grand View Research, Inc.

Indoor Farming Market is Expected to Grow at an Estimated CAGR of 9.19% during 2019-2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global indoor farming market size was valued at USD 26.8 billion in 2018 and is expected to expand at a CAGR of 9.19% from 2019 to 2025.

The global indoor farming market size is estimated to reach USD 50.3 billion by 2025, exhibiting a CAGR of 9.19% from 2019 to 2025, according to the new report conducted by Grand View Research, Inc. The increasing demand for food owing to the rising population is expected to drive the growth. Factors such as declining water supply, urbanization, and climate change have contributed to the loss of arable land. This in turn is driving demand for indoor farms to produce food. In addition, challenges, such as rising global temperature and extreme weather conditions, act as a barrier in the traditional farming technique. The European Environment Agency (EEA) has carried out several initiatives to build vertical farms to overcome these challenges and produce food in an environment-friendly way.

Indoor farming increases the crop yield and reduces farming impact on the environment by reducing the distance traveled in the supply chain. It reduces need for the land space required to grow plants compared to traditional farming methods by using growing shelves mounted vertically. Rising consumer awareness regarding consumption of healthy and fresh food is anticipated to positively influence the market for indoor farming over the forecast period. Furthermore, the use of technology, such as LED indoor farming to create nature-like conditions will help farmers meet the expected demand for food supply in near future.

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The key players operating in the market include Netafim (Israel), Richel Group (France), PRIVA (Netherlands), and Argus Control System Limited (Canada). Companies across the globe, such as Signify Holding and Osram GmbH, are working on developing innovative lighting systems for indoor farming.

North America indoor farming market size, by component, 2014 - 2025 (USD Billion)

Further key findings from the report suggest:

  • The greenhouses segment dominated the market in terms of revenue in 2018 as these facilities produce higher yields. Greenhouses offer a stable and highly controlled environment for the cultivation of flowers, vegetables, and fruits
  • The fruits, vegetables, and herbs segment is estimated to register the fastest CAGR over the forecast period, owing to the increasing food consumption along with growing consumer awareness regarding the importance of healthy eating, especially in regions such as Europe and Asia Pacific
  • The climate control systems segment is projected to expand at the highest CAGR during the forecast period, as the crop development can be controlled by adjusting and monitoring the concentration of minerals
  • Some of the key players operating in the indoor farming market include LumiGrow (U.S.), Illumitex (U.S.), Hydrodynamics International (U.S.), and Agrilution (Germany)

Global indoor farming market share, by crop category, 2018 (%)

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Grand View Research has segmented the global indoor farming market based on facility type, component, crop category, and region:

Indoor Farming Facility Type Outlook (Revenue, USD Million, 2014 – 2025)

  • Greenhouses
  • Vertical Farms
    • Shipping Container
    • Building-based
  • Others

Indoor Farming Component Outlook (Revenue, USD Million, 2014 – 2025)

  • Hardware
    • Climate Control Systems
    • Lighting Systems
    • Sensors
    • Irrigation Systems
  • Software
    • Web-based
    • Cloud-based

Indoor Farming Crop Category Outlook (Revenue, USD Million, 2014 – 2025)

  • Fruits, Vegetables, & Herbs
    • Tomato
    • Lettuce
    • Bell & Chili Peppers
    • Strawberry
    • Cucumber
    • Leafy Greens (excluding lettuce)
    • Herbs
    • Others
  • Flowers & Ornamentals
    • Perennials
    • Annuals
    • Ornamentals
  • Others

Key Topics Covered 

Table of Contents:

Chapter 1. Methodology and Scope
                  1.1. Market segmentation & scope
                  1.2. Market definition
                  1.3. Information procurement
                      1.3.1. Purchased database
                      1.3.2. GVR’s internal database
                      1.3.3. Secondary sources & third-party perspectives
                      1.3.4. Primary research
                  1.4. Information analysis
                      1.4.1. Data analysis models
                  1.5. Market formulation & data visualization
                  1.6. Data validation & publishing
Chapter 2. Executive Summary
                  2.1. Market Outlook
Chapter 3. Market Variables, Trends & Scope
                  3.1. Penetration & Growth Prospect Mapping
                  3.2. Indoor Farming Market – Value Chain Analysis
                  3.3. Indoor Farming Market Dynamics
                      3.3.1. Market Driver Analysis
                      3.3.2. Market Restraint Analysis
                      3.3.3. Market Opportunity Analysis
                      3.3.4. Market Challenge Analysis
                  3.4. Indoor Farming Market Analysis – Porter’s
                      3.4.1. Supplier Power
                      3.4.2. Buyer Power
                      3.4.3. Substitution Threat
                      3.4.4. Threat from new entrant
                      3.4.5. Competitive rivalry
                  3.5. Indoor Farming Market Analysis – PEST

…. continued

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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