The Indoor farming is an approach of increasing the crops frequently on a great scale, wholly indoors. This technique of agriculture often apparatuses mounting the techniques such as hydroponics and utilizes the artificial lights to deliver the yields with the nutrients and light levels demanded for the growth. A large variation of the crops can be increased indoors, but fruits, vegetables, and herbs are the most prevalent.
According to the report analysis, ‘Global indoor farming technology market size study, by growing system (aeroponic, hydroponics, aquaponic, soil-based and hybrid) Facility type (glass or poly greenhouses, indoor vertical farms, container farms and indoor deep-water culture (DWC) systems), Component (hardware and software & services), Crop Type (fruits & vegetables, herbs & micro greens, flowers & ornamentals and others) and Regional Forecasts 2018-2025’ states that in the worldwide market of indoor farming technologies there are numerous corporate which presently performing more significantly for leading the fastest market growth and registering the handsome value of market share around the globe throughout the short span of time while increasing the functions of technologies, developing the applications and productivity of such, delivering the better consumer satisfaction, growing the usage of developed technologies, decreasing the linked price to technologies and spreading the awareness related to the benefits of such includes Philips Lighting, Ever light Electronics, Argus Controls Systems, Netafim, Lumigrow, Logiqs, Illumitex, Vertical Farm Systems, Hydrodynamics International, General Hydroponics and several others.
The global indoor farming technology market is worth approximately USD 25.40 billion in 2017 and is predicted to increase with a vigorous growth rate of more than 9.65 % over the given period of 2018-2025. The progressive increase in the need for greater yields utilizing the restricted water and space is foremost trend that are accountable for the broad implementation of the indoor farming technology around the globe. Not only has this, production of biopharmaceutical products compromises lucrative growth opportunities for the worldwide indoor farming market over the review period of 2018-2025.
The worldwide indoor farming technology market is meaningfully propelled by increasing the demand for fresh foods with advanced nutritive value. According to the IIFT, a research conducted by Euromonitor International reveals that in 2016, worldwide demand for fresh food augmented by 3% in terms of volume. Also, Asia-Pacific region and Middle East witnessed the growth due to the disposable budgets and increasing population. In China, sales of fresh organics augmented around 30% in 2016. In addition, bigger obtain ability of the organic fresh foods through online corporate, store-based retailers and direct sellers made it convenient for the consumer to accept the fresh organic foods. Thus, increasing requirement for the fresh foods is likely to augment the requirement for the indoor farming considering obtain ability of low space in developed economies. As a result, the requirement implementation of the indoor farming technology would augment thereby, supporting the growth of the market over the review period. Therefore, in the coming years, it is anticipated that the market of indoor farming technologies will increase around the globe during the short span of time more significantly.
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Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, and Hybrid), by Components (Hardware and Software & Services), by Facility Type (Glass or Poly Greenhouses, Container Farms, Indoor Vertical Farms, and Indoor Deep Water Culture (DWC) Systems), and by Crop Type (Fruits & Vegetables, Herbs & microgreens, Flowers & Ornamentals, and Other Crop Types): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024
Ankur Gupta, Head Marketing & Communications