Global indoor farming technology market is driven by increasing demand for food production to satisfy growing global population
Indoor farming refers to cultivation of crops or plants in an indoor facility. Indoor farming is being used to encourage local production of crops in cities and also to deliver fresh produce in city areas where plots of land are not readily available for cultivation and farming.
Advantages of indoor farming methods such as decreasing use of toxic chemicals used as pesticides, reduction in water usage, increasing yield of production, protection from climate changes are some driving factors for growth of the global indoor farming technology market. In addition, increasing demand for fresh and organic food, coupled with growing health conscious population, is also expected to drive the global market growth over the forecast period.
The global indoor farming technology market is expected to grow at a substantial rate over the forecast period, owing to rising demand for food production to satisfy the increasing global population, coupled with the challenges faced by traditional farming methods in food production.
The global indoor farming technology market is segmented on the basis of growing methods, crop type, facility type, and region. Based on growing methods, the global market is segmented into hydroponics, aeroponics, soil-based, aquaponics, and hybrid. The hydroponics segment is currently dominating in the global market, owing to its capability to overcome various challenges of traditional farming methods such as limited arable land, low water supply, extreme weather conditions etc.
On the basis of crop type, the global market is segmented into fruits & vegetables, herbs & microgreens, and flowers & ornamentals. The fruits and vegetables segment is dominating the global market. The fruits and vegetables segments include green leafy vegetables, tomatoes, potatoes etc., and have higher demand in major regions of the globe.
On the basis of facility type, the target market is segmented into glass or poly greenhouses, indoor vertical farms, container farms, and indoor deep water culture (DWC) systems. The glass or poly greenhouse segment is expected to dominates the global market over the forecast period, owing to greater yield of production with the help of this facility type.
On the basis of region, the global indoor farming technology market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Europe market is currently dominating in the global market and is expected to continue its dominance in the global market over the forecast period.
Prominent players operating in the global market include Philips Lighting, Netafim, Argus Controls Systems, EVERLIGHT Electronics, LumiGrow, Logiqs, Illumitex, General Hydroponics, Richel Group, Agrilution.