Indoor Farming Market Growth, Share, Trends Analysis, Business Opportunities and Forecast 2028: Markntel Advisors

August 12, 2024 akio01

Market Insights

As per recent research by MarkNtel Advisors, The Global Indoor Farming Market is projected to grow at a CAGR of around 11.2% during the forecast period, i.e., 2023-28.

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Global Indoor Farming Market Key Drivers:

Decreased Cultivable Area Globally, Prompting The Repurposing of Existing Agricultural Land. – Unfavorable weather conditions like droughts, soil erosion, floods, and intensive pesticide usage, which are the prominent causes of the decreased cultivable area, have led to reduced yield over time. Growing crops indoors is the best way to address this severe concern affecting soil fertility globally. In addition, it creates new arable land, subsequently increasing the output and productivity of existing agricultural land. With innovative methods like Hydroponics Farming, Aeroponics Farming, Aquaponics Farming, and Vertical Farming, indoor methods are anticipated to gain traction and drive the market during the forecast period.

Market Segmentation and Consumer Behavior:

By Type

Hydroponics Farming
Aeroponics Farming
Aquaponics Farming
Vertical Farming

By Facility

Greenhouses
Container Farms
Indoor Vertical Farms
Indoor Deep Water Culture

By Component

Hardware
- Climate Control Systems
- Lighting Systems
- Sensors
- Irrigation Systems
Software
- Web-Based
- Cloud-Based

By Crop

Fruits and Vegetables
- Tomato
- Lettuce
- Bell & Chili Peppers
- Strawberry
- Cucumber
- Others (Leafy Greens, Kale)
Herbs and Microgreen
- Herbs
- Tarragon
- Wheatgrass
- Others (Basil, Bay)
Flowers and Ornamentals
- Annuals
- Perennials
- Ornamentals
- Others (Orchids, Succulents)

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Indoor Farming Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Key Players and Competitive Strategies in the Indoor Farming Market

Several prominent players dominate the Indoor Farming Market, including:

Aessense Corporation
Argus Control Systems Limited
Bowery Farming Inc
BrightFarms
Certhon
Crop One Holdings, Inc.
General Hydroponics
Green Sense Farms Holdings, Inc.
Metropolis Farms Inc
Netafim
Priva
Richel Group
Signify Holdings
Village Farms International Inc
Windset Farms
Others

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Questions Addressed in this Study

1.What factors are driving the Indoor Farming Market growth?

2.How is the Indoor Farming Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Indoor Farming Market?

4.What is the current size of the Indoor Farming Market, and how is it projected to change in the future?

5.What is the future outlook for the Indoor Farming Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.