Indoor Farming Market Opportunities, Future Trends, and Forecasts 2027 – Exclusive Report by Mordor Intelligence

March 24, 2022 at 19:36 PM EDT

Mordor IntelligenceNorth America accounted for the largest share in the global indoor farming industry in 2021. With the help of high-efficiency LED lights and enhanced indoor management practices, US growers have been able to adopt large-scale indoor farming. Such practices are expected to reduce energy lighting costs by about 50%, thus, reducing the carbon footprint of controlled environment agriculture.

Indoor Farming Market Overview

The indoor farming market is projected to register a CAGR of 8.1% during the forecast period (2022-2027). Soil-based indoor farming dominates the market among the various growing types in the indoor farming market. Its ability to enhance the harvesting cycle of the plants, when compared to traditional farming, is driving its market growth. By facility type, glass or play greenhouses occupy a larger value while indoor deep-water culture system is anticipated to witness the highest CAGR during the forecast period. There is an increase in the demand for sustainable food production in the Middle East, where achieving this is possible by adopting indoor vertical farming technologies in agriculture.

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Indoor Farming Market - Geographical Overview

North America accounted for the largest share in the global indoor farming industry in 2021. With the help of high-efficiency LED lights and enhanced indoor management practices, US growers have been able to adopt large-scale indoor farming. Such practices are expected to reduce energy lighting costs by about 50%, thus, reducing the carbon footprint of controlled environment agriculture. As per the US Department of Agriculture (USDA), the average yield of conventional lettuce farming doubled by two folds when cultivated through vertical farming. Currently, the indoor farming industry in the United States is predominantly dominated by greenhouse crop production.

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Key Highlights of the Indoor Farming Market

In China, there are approximately 334 million acres of arable land, of which around 37 million acres are non-cultivable, and with a growing population, this poses a major threat. The alternative to creating more arable land is to enhance the yield and productivity of land currently being cultivated. These technologies include high-yielding varieties, management of fertilizers and pesticides, mechanization, irrigation management, and employment of new farming techniques such as indoor farming.
The onset of urban population dwellings across cities, such as New York, Chicago, and Milwaukee, has propelled the environment for indoor farming with activities, such as revamping derailed vacant warehouses, derelict buildings, and high rises, which has, in turn, led to an increase in the production of fresh grown foods altogether. The demand for greenhouse tomatoes in the United States is driving the market demand for hydroponic operations.

Recent Developments in the Indoor Farming Market

Companies are partnering with other companies to research and develop new production systems. For instance, In April 2021, Aerofarms had undergone a partnership with Hortifrut SA, a certified B corporation in Chile. The partnership will focus on the research and development of blueberry and cranberry production in fully controlled vertical farms and indoor environments.
Companies such as Bright Farms are focused on expanding the production base and are actively involved in setting up new indoor farming systems during the study period. For instance, in 2021, BrightFarms opened its latest indoor farm in Hendersonville, North Carolina. The 6-acre greenhouse is likely to produce 2 million pounds of lettuce per year.

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Indoor Farming Market Opportunities, Future Trends, and Forecasts 2027 – Exclusive Report by Mordor Intelligence