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on July 3, 2024
Indoor Farming Market Set to Bloom, Reaching Nearly USD 47.2 Billion by 2030
The indoor farming market is flourishing, with a projected value of nearly USD 47.2 billion by 2030. This translates to a steady CAGR (Compound Annual Growth Rate) of 11% from 2024 to 2030, according to a new report by Maximize Market Research.
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Growing Demand for Sustainable Agriculture
The indoor farming market is driven by a growing consumer preference for fresh, local, and sustainable produce. This method of agriculture offers several advantages, including:
Reduced reliance on traditional farming methods that can be susceptible to weather and pests.
Increased yield per square foot of land.
Year-round production of crops.
Market in Detail
The Maximize Market Research report provides a comprehensive analysis of the indoor farming market, segmented by:
Growing System: Aeroponics, soil-based, aquaponics, hydroponics, and hybrid options.
Facility Type: Glass or poly greenhouses, indoor vertical farms, container farms, low-tech plastic hoop houses, and indoor deep water culture (DWC) systems.
Crop Type: Tomatoes, flowers, herbs, microgreens, leafy greens, and others.
Key Players Shaping the Industry
North America, Europe, and Asia-Pacific are leading the indoor farming market, with prominent players including:
North America: AeroFarms, Plenty Unlimited Inc., Bowery Farming, BrightFarms, Gotham Greens (USA), Argus Control System Limited (Canada)
Europe: Infarm (Germany), GrowUp Farms (UK), Jones Food Company (UK), LettUs Grow (UK), UrbanFarmers AG (Switzerland), Richel Group (France), Agrilution (Germany)
Asia-Pacific: Spread Co. Ltd. (Japan), Sky Greens (Singapore), UrbanKisaan (India), SananBio (China), Crop One Holdings (Singapore)
Regional Landscape
North America is expected to hold a significant share in the near future due to the presence of established players and a strong focus on technological advancements. However, Asia-Pacific is projected to witness the fastest growth due to factors like rising disposable incomes, increasing urbanization, and government initiatives promoting sustainable agriculture.
COVID-19 Impact
The COVID-19 pandemic highlighted the vulnerabilities of traditional supply chains, leading to a surge in interest in indoor farming as a more resilient and controlled food production method.
Unveiling the Future of Indoor Farming
The report explores key questions such as:
What factors are driving the growth of the indoor farming market?
Which segment is expected to dominate the market?
What are the key trends shaping the future of indoor farming?
How is the indoor farming market expected to perform in different regions?
Table of Contents:
Chapter 1: Overview
Chapter 2: Global Market Status and Forecast by Regions
Chapter 3: Global Market Status and Forecast by Types
Chapter 4: Global Market Status and Forecast by Downstream Industry
Chapter 5: Market Driving Factor Analysis
Chapter 6: Market Competition Status by Major Manufacturers
Chapter 7: Major Manufacturers Introduction and Market Data
Chapter 8: Upstream and Downstream Market Analysis
Chapter 9: Cost and Gross Margin Analysis
Chapter 10: Marketing Status Analysis
Chapter 11: Market Report Conclusion
Chapter 12: Research Methodology and Reference
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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