Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "China Indoor Farming Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
This comprehensive forecast reveals an expansion trajectory, with the market projected to swell at an impressive CAGR of 10.99% from 2021 to 2028. This uptrend is set to take the market's valuation from US$3.643 billion in 2021 to an estimated US$7.559 billion by 2028.
The detailed analysis of the China indoor farming market indicates a robust growth pattern driven by the convergence of technological advancements, government support, and an urgent mandate to address food security in light of urbanisation and arable land challenges. This industry accounts for an innovative approach to agriculture, designed to bolster local food production despite the constraints of traditional farming practices.
The narrative of the China indoor farming market is further enriched by a ground-breaking project: the Jian Mu Tower in Shenzhen. This office skyscraper is set to revolutionize urban agriculture with its full-scale, vertical hydroponic farm, which is expected to produce an astonishing 270,000 kilograms of food annually. The design exemplifies the potential for integrating food production into urban living spaces, offering a glimpse into a self-sustaining, greener future for metropolitan areas.
Market Segments Poised for Growth:
- Fruits and Vegetables: This segment is projected to experience robust growth due to the increasing demand driven by population growth and rising incomes. As China looks to reduce its reliance on imported produce, advances in indoor farming are poised to play a critical role.
- Technological Components: Both hardware and software components are vital to the advancement of China's indoor farming capabilities. These technologies enhance yield, optimize resource efficiency, and enable precise control over farming conditions.
Key Developments Influencing the Market
Recent partnerships, such as that between Mary Agrotech and Bright Seedbase Technology Co., solidify the market's commitment to innovation and collaboration, creating avenues for technological and operational enhancements within the sector.
Given the array of cited factors – from government initiatives to market demands for higher-quality, locally sourced food – the China indoor farming market is witnessing transformative growth. Key segments identified in the comprehensive report, such as hydroponic and aeroponic systems, along with container farms, are spearheading this agricultural evolution.
The report's segmentation further delves into:
Growing Systems:
- Hydroponics
- Aeroponics
- Aquaponics
- Soil-based
- Hybrid
Components:
- Hardware
- Software
- Services
Facility Types:
- Glass or Poly Greenhouses
- Indoor Indoor Farms
- Container Farms
- Indoor DWC (Deep Water Culture) Systems
Crop Types:
- Fruits and Vegetables
- Herbs and Microgreens
- Flowers and Ornamentals
- Other Crop Types
With sustainability and urban food security as priority areas guiding the future of agriculture in China, the market research underscores the strategic importance of indoor farming. This detailed industry analysis is essential for stakeholders looking to capitalize on emerging trends, gain insights into market dynamics, and navigate the burgeoning landscape of China's innovative farming methodologies.
Companies Mentioned:
- Sananbio
- Noonty
- Bright SeedBase
- Carlo Ratti Associati
Key Attributes
| Report Attribute | Details |
| No. of Pages | 124 |
| Forecast Period | 2021-2028 |
| Estimated Market Value (USD) in 2021 | $3.64 Billion |
| Forecasted Market Value (USD) by 2028 | $7.56 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | China |
For more information about this report visit https://www.researchandmarkets.com/r/ybebrj
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
