Market Introduction
The global indoor farming market held a market value of USD 26.5 Billion in 2021 and is estimated to reach USD 62 Billion by the year 2030. The market is anticipated to register a CAGR of 10.1% during the forecast period.
Indoor farming is one of the ideal alternatives for conventional agriculture. The increasing research and awareness in the fields of hydroponics, aquaponics, and hybrid growing systems is fueling the growth rate of the market to a double digit over the forecast period. The increasing support by companies also contributes heavily. For instance, in April 2019, Signify Holdings acquired WiZ Connected (China), the manufacturers of the WiZ Wi-Fi-based connected lighting ecosystem. Thus, such measures aid the market growth.
Government, as well as non-government agencies, manufacturers are pointing at growing awareness by providing policies, subsidies, and other strategies as well as perks that drive the growth of the indoor farming market across the world.
On the other hand, the high cost and high initial investment cost is a hampering factor for indoor farming market. Moreover, the different limitations on different types of crops to be grown also hinders the growth of the market.
Growth Influencers:
Lesser impact of external weather conditions
The ever-changing climatic conditions underwrite the existing increasing environmental issues, including soil degradation, groundwater depletion, and many others. A lot of research experts have proved that indoor farming through its different growing systems, has less impact of the external weather conditions, in comparison to the traditionally grown plants. In light of this, the demand for indoor farming has tremendously increased, and is propelling the growth rate of the market to a huge extent.
Rising demand for fresh foods with high nutritive value
The surging demand for fresh foods by health-conscious consumers, as well as producers utilizing top-notch technologies is fuelling the market growth. Moreover, the usage of these new technologies, such as aeroponics, hydroponics, offer high yield value, contributing to high demand of the end product. For instance, USDA data 2016 stated that the average yield of tomatoes grown in greenhouse hydroponics was 10.59 pounds per square foot, and that of traditionally grown tomatoes was 1.85 pounds per square foot. Thus, such measures drive the market growth.
Segments Overview:
The global indoor farming market is segmented into growing systems, crop type, technology.
By Growing Systems
o Hydroponics
o Aeroponics
o Aquaponics
o Soil-based
o Hybrid
The hydroponics segment is projected to hold an opportunity of more than USD 15 Billion during 2022 to 2030.
By Crop Type
o Common Crops
? Lettuce
? Chard
? Cabbage
? Kale
? Tomatoes
? Spinach
o Herbs
? Basil
? Mint
? Chives
? Parsley
o Microgreens
The common crops segment held the largest market share of more than 50% due to its ease of accessibility and growing. On the other hand, the herbs segment is projected to grow highest at the rate of 10.7%. based on herbs, the basil sub-segment is expected to be the largest shareholding amongst all herbs during the forecast period.

By Technology
o Controlled Environment Agriculture
? Dosing systems
? Sterilization Systems
? Chemical disinfection
o Lighting
? Fluorescent grow lights
? LED lighting
o Air Control
? CO2 gassing
? Compressed CO2
o The Internet of Things - IoT
? Environment Sensors
? Connected Devices
On the basis of controlled environment agriculture, the sterilization systems subsegment is estimated to cross the mark of USD 5 Billion by 2029. Moreover, the lighting segment held the largest market share of more than 40% in 2021. Furthermore, the air control segment is projected to cross the mark of USD 10 Billion by 2029.
Regional Overview

By region, the global indoor farming market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North American region is expected to grow steadily owing to the increasing initiatives by government. The European region is anticipated to grow substantially with the highest growth rate of 10.6% over the forecast period owing to the increasing number of companies investing in research and development to develop cutting-edge products. The Asia-Pacific region is also anticipated to grow at a considerable rate. The Latin American market and the Middle Eastern and African market are growing steadily.
Competitive Landscape

Key players operating in the global indoor farming market include AgriCool, Argus Control Systems, AeroFarms, Bowery Farming, Everlight Electronics, EXDIN Solutions, General Hydroponics, Gotham Greens, GP Solutions, BrightFarms, Heliospectra AB, Infarm, Iron Ox, LumiGrow, Signify Holding, SPREAD Co., Ltd., Sky Greens, among others.

The major four players in the market hold approximately 15% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in June, 2019, Everlight Electronics showcased lighting, automotive, and signage components, including new horticulture, UV (UVA&UVC), and general lighting products.

The global indoor farming market report provides insights on the below pointers:


? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global indoor farming market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various types and other components used in the manufacturing of indoor farming
? Manufacturing Cost Analysis: Cost-share of various indoor farming materials, cost analysis of indoor farming materials
? Life Cycle analysis on the environmental impact of Vertical Farming compared to rural agriculture in the U.S.

The global indoor farming market report answers questions such as:


? What is the market size and forecast of the global indoor farming market?
? What are the inhibiting factors and impact of COVID-19 on the global indoor farming market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global indoor farming market?
? What is the competitive strategic window for opportunities in the global indoor farming market?
? What are the technology trends and regulatory frameworks in the global indoor farming market?
? What is the market share of the leading players in the global indoor farming market?
? What modes and strategic moves are considered favorable for entering the global indoor farming market?