Indoor Farming Market is reaching US$ 96.6 Billion by 2032 - Comprehensive Research Report by FMI

DUBAI, United Arab Emirates, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The Indoor Farming Market is expected to be valued at US$ 38.7 Bn in 2022. Sales are forecast to increase at a 9.6% CAGR over the forecast period, reaching US$ 96.6 Bn by 2032.

According to a recent report by Future Market Insights (FMI), sales in the global the Indoor Farming Market are expected to increase at a 9.6% CAGR, reaching US$ 96,675 Mn in 2032.

The agriculture industry is adopting new methods to meet the growing demand for organic food. Vertical farming is gaining traction and will emerge as one of the key farming methods in the forthcoming years.

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With the development of new technologies, vertical farms are using artificial light control, humidity control, and gas control within the facility. Vertical farming improves automation, lowers emissions, and lowers costs.

High yield associated with vertical farming over conventional farming, year-round crop production regardless of weather conditions, advancements in light-emitting diode (LED) technology, and the requirement of minimal resources are some of the major factors driving the adoption of vertical farming.

Furthermore, growing adoption of indoor farming with activities such as revamping derailed vacant warehouses, derelict buildings, and high rises, which increases the production of fresh grown foods is further expected to fuel the growth in the market.

Scope of the Report

Key Takeaways:

• Based on the capacity type, sales in the greenhouse facility segment are forecast to increase at a 4.8% CAGR through 2032.
• The hydroponic segment will expand at a 6.1% CAGR over the forecast period.
• In terms of component type, sales in the hardware segment will rise at a 7.4% CAGR through 2032.
• The fruits and vegetables segment will grow at a 6.5% CAGR over the assessment period.
• Sales in the U.S. indoor farming market are forecast to increase at a 5.5% CAGR over the forecast period.
• India will emerge as a lucrative pocket, with sales growing at a 6.6% CAGR through 2032.
• Germany will dominate the Europe indoor farming market, accounting for 13.9% of the total market share. 
  

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Argus Control Systems Ltd., Certhon, AeroFarms, Bright Farms Inc., Richel Group, Bowery Inc., FreshBox Farms, Metropolis Farms Inc., General Hydroponics, Hydrodynamics International, Illumitex, Lumigrow, Vertical Farm Systems, Priva, and Netafim among others are some of the players profiled by FMI.

Leading players operating in the indoor farming are investing in promotional strategies, advertisements, and new product launches to gain a competitive edge in the market.

Global Indoor Farming Market by Category

Facility Type:

• Greenhouses
• Indoor Vertical Farms
• Container Farms
• Indoor Deep Water Culture Systems
• Other Facility Types
  

Growing System:

• Aeroponics
• Hydroponics
• Aquaponics
• Soil-based
• Hybrid
  

Component Type:

• Hardware
  • Climate control systems
  • Lighting systems
  • Sensors
  • Irrigation systems
• Software
  • Web-Based
  • Cloud-Based

Crop Type:

• Fruits and Vegetables
  • Leafy Vegetables
    • Lettuce
    • Kale
    • Spinach
    • Other Leafy Vegetables
  • Tomato
  • Strawberry
  • Eggplant
  • Other Fruits and Vegetables
• Herbs and Microgreens
  • Basil
  • Herbs
  • Tarragon
  • Wheatgrass
  • Other Herbs and Microgreen
• Flowers and Ornamentals
  • Perennials
  • Annuals
  • Ornamentals
  • Other Flowers and Ornamentals
• Others

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA
  

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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