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Market Research Report

Global Indoor Farming Technology Market Outlook 2019-2035: Growth Opportunities | Trends | Share-Sales | COVID-19 Impact Analysis

Published Date :

2021-05-29

Report Pages :

364

Format :

PDF

Region Covered :

Global

Global Indoor Farming Technology Market Overview

Indoor Farming Technology Market will be the new normal in the upcoming future. In today’s world Farming has changed a lot. Traditional agriculture has taken a toll over the planet’s natural resources and these are going to finish one day. There are lots of changes taking places in the agriculture to prevent the exploitation of resources and conserve these resources simultaneously for the future. 70% of the water supply goes to agriculture and 70% of the water gets contaminated by agriculture itself. The recent trend of Aero Farms which uses 95% less water than field farming and has developed a closed loop water circulation system that recirculates water to the plants. The soil is no longer healthy enough to filter out the pesticides leading to toxicity and runoffs. Runoff leads to algal blooms and oceanic dead zones. By growing indoors, Aero Farms can avoid these issues.25% of the world’s land is now highly degraded with soil erosion, water dehydration and loss. The soil is no longer healthier and so is the nutrition of the food. Aero Farms is the first and only agriculture company till date to be honored by the Ellen Mac Arthur Foundation as one of the circular economy 100, a select group of global companies which are focused on eliminating waste and improving the positive impact on the environment and sustainability. These are some of the reasons as to why we need the concept of indoor farming. Rapid Urbanization and shortage of spaces is driving the indoor farming technology market.

The global market for greenhouse vegetable industry is worth over $120B. The indoor farming generates $300 Billion crop sales. The market value is $14.8 Billion annually.

Category                                No Of Farms                                                           Market Value

Aquatic Farms

277

1642,080

2075332

Bulbs

193

130646

72766990

Cuttings, Seedings Liners and Plugs

1114

35627552

585066367

Floriculture

18724

873290590

5888527346

Flower seeds

212

368593

32378251

Indoor Farming Technology Market Segmentation

By Crop Type

  • Herbs and Micro greens
  • Tarragon
  • Herbs
  • Basil
  • Wheatgrass
  • Other Herbs and Micro greens
  • Flowers and Ornamentals
  • Annuals
  • Perennials
  • Fruits and Vegetables
  • Eggplant
  • Strawberry
  • Tomato
  • Leafy Vegetables
  • Spinach
  • Lettuce
  • Kale
  • Happy Beat
  • Baby Spinach
  • Spring Mix
  • Sunny Crunch
  • Baby Arugula
  • Baby Romaine
  • 50/50 Spring and Spinach
  • Happy Beet
  • Other Leafy Vegetables
  • Other Fruits & Vegetables

By Growing Systems

  • Aeroponics
  • Hybrid
  • Hydroponics
  • Soil Based
  • Aquaponics

By Technology

  • Smart Light
  • Smart Nutrition
  • Smart Data
  • Smart Substrate
  • Smart Pest Management
  • Smart Scaling
  • Software Solutions
  • Hardware Solutions
  • Irrigations Systems
  • Sensors
  • Climate Control System
  • Communication Systems

By Countries

  • North America (USA & Canada) {Market Size (USD Billion), Growth Analysis (%) and Opportunity Analysis)
  • Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Billion), Growth Analysis(%) and Opportunity Analysis}
  • Europe (The United Kingdom, Germany, France, Italy, Spain, Poland, Sweden & Rest of the Europe){ Market Size(USD Billion), Growth Analysis(%) and Opportunity Analysis}
  • Asia-Pacific (India, China, Japan, Singapore, South Korea, Australia, New Zealand and Rest of Asia) ){ Market Size(USD Billion), Growth Analysis(%) and Opportunity Analysis}
  • Middle East and Africa (GCC, South Africa, North Africa and Rest of Middle East and Africa ){ Market Size(USD Billion), Growth Analysis(%) and Opportunity Analysis}

Market Dynamics (Growth Drivers, Opportunities, Restraints)

Growth Drivers

The factors driving the indoor farming technology market are shortage of lab our supply.

  • Lack of available space and land resulting in growing food shortage is the major factor driving the indoor farming technology.
  • Climatic Change factors driving the growth of indoor farming technology, while using less resources and producing more per square foot.
  • Rapid Urbanization leading to food shortage.
  • Indoor farming helps to cut the costs and increase the revenues.

Opportunities

There are many opportunities present in the indoor farming technology market. The advancement in Artificial Intelligence and Machine Learning are the greatest opportunities that boost the market.

Restraints

High Inflation is a restraint to the indoor farming technology market, as there is huge demand for food as compared to the production. Second most important factor is the advancement in technology and shortage of lab our. GPS Controlled technology is applied in the agriculture which is of improving the efficiency and farming management

Challenges

  • Low productivity made worse by climate change.
  • Low profitability from Agriculture
  • Policies fail to meet the demands of the farmers
  • Food systems that do not provide adequate nutrition.

Geographical Market (Dominate Market/Target Opportunities)

95% of the American’s salad greens are grown in either Salinas, California or Yuma. Cannabis producers produced $6.7B in sales and most production occurred indoors. Certain pharmaceutical production is moving indoors because producing plant based on vaccines halves the time of conventional production. All of these industries are also part of the growing indoor farming ecosystem. The US is a relatively small producer of greenhouse vegetables. US represents about 0.25 of the global greenhouse vegetable market with the rest of the world producing $300 Billion of vegetables in greenhouses.

The indoor farming industry in the USA was dominated by the greenhouse crop production. Increasing number of vertical farms and technologically advanced greenhouse emerged, primarily due to decrease in technology costs and increase in inflation/ demand for food. Smaller farms consist of indoor vertical farms while larger farms primarily consist of hydroponic greenhouses. Indoor vertical farms have been stacked with growing systems which allows growers to realize higher revenue from less space.

Greens and herbs/micro greens top the list of crops growers and are expected to be profitable. It is expected that cannabis is the most profitable crop and mostly farmers do not plan to grow it in the future years ahead. Cannabis top the list of highest revenue generating crops at about $112 per square foot or $48,00,000 per acre. Greens were the next highest revenue generating crop at $64 per square foot. The lowest revenue crop was strawberries as per research at about $22 per square foot. Indoor greens growers’ revenue of $6 per round pound and indoor vine crops growers revenue of $1.13 per round. Lettuce crops may grow in the future and may show gains. Vertical farming is also on the cards as people look for high quality food with no pesticides and with negative environmental impact. The future is for vertical farming.

North America remains the dominating region in the world as far as indoor farming technology is concerned followed by Europe. In the Asia-Pacific region, we have Japan followed by China and India following this culture. United States remains the most dominating region in the world.

Mergers and Acquisitions

McCain Foods limited has completed a strategic investment in TruLeaf Sustainable Agriculture, a highly innovative Canadian agricultural technology company. TruLeaf has developed the indoor vertical farming technology to grow fresh and nutritious leafy vegetables of high quality and flavor. The company has a dedicated team of people who do research on the particular growing segment. The company is also looking forward to expand its product segment by discovering better products in a particular vertical. The company sells its produce in Atlantic Canada under the brand name Good Leaf brand in retail and food service channels. The company McCain Foods is actively engaging with entrepreneurs in developing and commercializing agri –food technologies, the strategic investment in Tru Leaf is in direct support of McCain foods innovation strategy. The company is planning to expand its product segment by adding indoor farming operation to its portfolio which is based on internet of things. The company is also using digital technologies to improve food production and distribution. It also uses to predict the consumer demand for food in a short time span.

Players Specific Data (Product launch, International and Domestic Players Dominance, Sales Distribution)

There are farms who are capitalizing on the local trend and benefits of growing fresh food for regional market, delivering the fresh food to local markets daily presents distribution challenges for smaller urban farms. Daniel Christensen is the owner of the Strata farms, a 420 square foot micro greens vertical farm located in Portland Oregon. Strata are the biggest family run operation and include the biggest farmers market in the region. For him, distribution to the local market is a daily challenge. Products must be delivered by coolers or by vans so that they can have extended shelf life. The fresh food can be produced and sold locally.

A number of farmers interviewed noted the importance of understanding and qualifying a market before beginning operations. Some indoor farming companies are securing contracts with purchasers in advance of constructing farms to address the concern of managing many purchase orders, deliveries, and uncertainty in sales. About 53% of growers who responded to sales related questions reported that 75–100% of their sales come from repeat orders. Because indoor farmers can forecast yields ahead of time and maintain year round consistency, they are not limited to selling at farmers markets or other small markets. Instead they can also sell to retailers where demand is known ahead of time and farms can match those demands. Access to traditional retail markets means access to a $9b11 market for indoor food producers

Key Market Players

The key players is in the market are :

  • Aero farms
  • Plenty
  • Green Spirit Farms
  • Bowery Farming
  • Bright Farms
  • Gotham Greens
  • Iron Ox
  • InFarm
  • AgriCool
  • Crop One
  • Illumitex
  • Pod Ponics
  • Surna
  • Freight Farms
  • Voeks Inc
  • SananBio
  • Helio Spectra
  • Agrilution
  • Altius Farms
  • Badia Farms
  • Intelligent Growth Solutions
  • Farm One
  • Sky Greens
  • Spread
  • Sasaki
  • Urban Crop Solutions
  • Indoor Farms of America
  • Freshbox Farms
  • Aerofarms
  • Contain Inc
  • Philips Lighting
  • Garden Fresh Farms
  • Metropolis Farms etc.

COVID-19 impact on "Global Indoor Farming Technology Market"

The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Indoor Farming Technology Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

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Key questions answered in this research report

  • What is the total market size by 2035 and what would be the expected growth rate of sales?
  • What are the total sales in 2018-19 and what would be the expected demand over the forecast period?
  • What are the recent developments and business strategy of companies?
  • What are the market opportunities for the existing and entry level players?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?

Reasons to buy this market study

  • Global Indoor Farming Technology Market Facilitate decision-making based on strong historic and forecast data for
  • Develop strategies based on the latest regulatory framework
  • Position yourself to gain the maximum advantage of the Reasons to buy this market study
  • Global Indoor Farming Technology Market Facilitate decision-making based on strong historic and forecast data for
  • Develop strategies based on the latest regulatory framework
  • Position yourself to gain the maximum advantage of the Global Indoor Farming Technology Market’s growth potential
  • Identify key partners and business development avenues across the globe
  • Respond to your competitor’s business structure, strategy and prospects’s growth potential



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Global Indoor Farming Technology Market Outlook 2019-2035: Growth Opportunities | Trends | Share-Sales | COVID-19 Impact Analysis

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