Global Indoor Agriculture Technology Market
Dublin, July 19, 2022 (GLOBE NEWSWIRE) — The “Indoor Agriculture Technology Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.
Indoor farming is a way of growing plants and crops exclusively indoors. He frequently uses hydroponics and artificial lighting, where growing conditions can be better controlled, to provide plants with sufficient nutrients and the light levels they need for growth. Plants of all kinds can be grown indoors, although the most common are fruits, vegetables and herbs. The growing awareness of consuming residue-free foods has paved the way for innovative techniques such as indoor farming.
Increase agricultural production using less water and land resources
According to Forbes, by 2050 the world’s population is expected to reach 9.7 billion, which will require a 70% increase in global food production over the next 30 years to feed everyone. Agriculture must adapt to use less water and pesticides, make crops less vulnerable to climate change, while providing more regular yields. Compared to outdoor farming, indoor farms recycle and reuse water, requiring 95% less water to grow the same crops.
According to the United States Department of Agriculture, the average production of standard lettuce doubled when grown vertically. The transpiration process occurs when plants or produce are grown in vertical greenhouses, allowing farmers to reuse water for irrigation. More production from less land is needed, and indoor farming contributes to higher yield of various crops. As arable land becomes scarce, growing demand for maximizing crop yields will drive domestic agricultural activity over the projected period.
The initial expense is high
Indoor farming is an expensive business, from locating suitable facilities to selecting the best performing crops requires a significant investment. Additionally, greenhouses and vertical farms have a higher percentage of operating expenses due to high electricity consumption.
For an optimal indoor farm, it is crucial to control the ambient atmosphere with adequate temperature, lighting and pollination as well as the arrangement of plants. Land prices alone, which are usually very high in urban areas, add significantly to initial upfront costs. Equipment prices have further strained the budgets of many vertical farming businesses. Climate controls, LED lights, computers, shelving, water lines, and other expensive equipment are required by most indoor farms.
In November 2021, NASA Research launched a new phase of indoor farming. This new farming approach paved the way for the controlled environment farming (CEA) industry. Aerofarms formed a partnership with Hortifrut SA in April 2021. R&D of blueberry and cranberry production in fully controlled vertical farms and indoor environments will be central to the partnership.
BrightFarms established the newest indoor farm in Hendersonville in May 2021. Lettuce grown in the 6-acre greenhouse will fetch £2 million each year. Bright Farms also added three sustainable greenhouse farms in Massachusetts, North Carolina and New York in 2019.
By cultivating systems, the global indoor farming technology market can be segmented into soil-based, aeroponics, hybrid, hydroponics, and aquaponics categories, respectively.
Hydroponics is expected to account for a large share of the market owing to benefits such as low cost of water as water remains in the system and can be reused and elimination of the need for soil. Aeroponics is expected to grow at a high CAGR over the projected period.
By component, the global indoor agriculture technology market can be segmented into software, hardware and services
During the estimation period, the hardware category is expected to have the largest market share and grow rapidly in the indoor farming technology market.
By facility type, the global indoor farming technology market can be segmented into indoor deep water culture systems, indoor vertical farms, container farms, and poly or glass greenhouses.
The indoor vertical farms segment is expected to grow at a faster rate. Indoor vertical farms are closed, opaque rooms with artificial lighting and vertical growing methods including hydroponics, aeroponics and aquaponics.
By crop type, the global indoor agriculture technology market can be segmented into flowers and ornamentals, herbs and microgreens, fruits and vegetables, and others.
The fruit and vegetable segment is expected to account for a significant share of the market. Fruit and vegetable consumption has grown by double digits over the past few decades, and this trend is expected to continue for the next few years. The steady increase in population is one of the major factors that has accelerated the trend. The herbs and microgreens segment is expected to grow rapidly over the projected period.
By geography, the global indoor agriculture technology market can be segmented into Asia-Pacific, North America, Middle East & Africa, South America, and Europe
Due to the growing increase in greenhouses and vertical farms in the United States and Canada, North America is one of the largest markets for indoor farming technology. The greenhouse crop production sector currently dominates the indoor agriculture industry in the United States. Asia-Pacific is expected to grow rapidly as the demand for indoor farming technology has increased in the region due to the increase in the number of international companies investing in farms to meet the demands of crop growers. for quality products intended for export only.
Information on COVID-19
The COVID-19 outbreak has had a significant impact on the global indoor farming technology market. The adoption rate of indoor farming systems, especially in urban areas around the world, is expected to skyrocket due to the coronavirus outbreak. The agriculture industry has faced some challenges. Some farmers have missed their window of opportunity to harvest seasonal crops, falling crop prices and logistical disruptions due to labor shortages. Many countries also realized that they were too dependent on food imports and started to focus on domestic and internal production.
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining power of suppliers
4.3.2. Bargaining powers of buyers
4.3.3. The threat of substitutes
4.3.4. The threat of new entrants
4.3.5. Competitive rivalry in the industry
4.4. Industry Value Chain Analysis
5. GLOBAL INDOOR AGRICULTURAL TECHNOLOGY MARKET, BY GROWTH SYSTEM
5.5. Ground based
6. GLOBAL INDOOR AGRICULTURAL TECHNOLOGY MARKET, BY COMPONENT
7. GLOBAL INDOOR AGRICULTURAL TECHNOLOGY MARKET, BY FACILITY TYPE
7.2. Glass or poly greenhouse
7.3. Indoor Vertical Farm
7.4. container farm
7.5. Indoor DWC system
8. GLOBAL INDOOR AGRICULTURAL TECHNOLOGY MARKET, BY CROP TYPE
8.2. Fruits and vegetables
8.3. Herbs & Microgreens
8.4. Flowers and ornamental plants
9. GLOBAL INDOOR AGRICULTURAL TECHNOLOGY MARKET, BY GEOGRAPHY
9.2. North America
9.2.1. United States
9.3. South America
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.4. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Key Players and Strategic Analysis
10.2. Emerging players and market profitability
10.3. Mergers, acquisitions, agreements and collaborations
10.4. Supplier Competitiveness Matrix
11. COMPANY PROFILES
11.2. Luminous Farms Inc.
11.3. Bower Inc.
11.4. FreshBox Farms
11.5. Notify detention
11.6. Argus control systems
11.9. Richel Group
11.10. Vertical Farm Systems
11.11. General hydroponics
11.12. square roots
11.13. Gotham Greens
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