Indoor Farming Market Future Growth and Analysis Report By 2030

Indoor Farming Market Growth & Trends

The global indoor farming market size is estimated to reach USD 88,478.9 million by 2030, exhibiting a CAGR of 12.9% from 2023 to 2030, 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 to 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 eco-friendly way.

Gather more insights about the market drivers, restrains and growth of the Global Indoor Farming Market

Market Segmentation:

Grand View Research has segmented the global indoor farming market based on facility type (Greenhouses, Vertical Farms, Others), component (Hardware, Software, Services), growing mechanism (Aeroponics, Hydroponics, Aquaponics), crop category (Fruits, Vegetables, & Herbs, Flowers & Ornamentals, Others).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, and South America and Middle East & Africa.

Europe held the largest market share in 2022 and is estimated to remain dominant during the forecast period.

The rising adoption of technologies for indoor farms, such as Controlled Environment-Agriculture (CEA), which controls the environmental factor, is responsible for regional growth. Increasing focus on adopting technologies, such as active heat systems and LEDs, to improve the yield is driving the market. Several initiatives are undertaken by the regional government for building indoor farms to overcome challenges, such as growing population, climate change, and food production in an environmentally -unfriendly way. Farm owners are at the forefront of investing in technologies, such as LED lighting and crop monitoring sensors, which are expected to lower labor costs.

Asia Pacific is estimated to witness the fastest CAGR from 2023 to 2030.

Countries such as China and Japan are estimated to witness considerable growth in the forthcoming years owing to the presence of many indoor farms. In addition, the continuously rising population in the region has resulted in an increasing demand for organic food, which has led to the building of greenhouses and vertical farms to produce crops. The rising awareness about the significance of alternative farming methods due to the availability of less fertile agricultural land is expected to further fuel regional demand.

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• Autonomous Crop Management Market – The global autonomous crop management market size was valued at USD 1.45 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.2% from 2022 to 2030.
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Key Companies

The key players in the global indoor farming market include – Richel Group (France), Netafim (Israel), LumiGrow (U.S.), Illumitex (U.S.), Hydrodynamics International (U.S.), Agrilution (Germany), and Argus Control System Limited (Canada).

The key market players engage in the strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share. The companies focus on building greenhouses and expanding indoor farms to meet the end-market requirements.

Order a free sample PDF of the Indoor Farming Market Intelligence Study, published by Grand View Research.