Global Indoor Farming Technology is Increasing Agriculture Production Using Less Water and Land Resources – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Indoor Farming Technology Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
Indoor farming is a way of cultivating plants and crops exclusively indoors. It frequently uses hydroponics and artificial lighting, where growing conditions can be better controlled, to offer plants a sufficient amount of nutrients and light levels they require for growth. Plants of all kinds can be cultivated inside, although the most common are fruits, vegetables, and herbs. Rising awareness about the consumption of residue-free food has cleared the pathway for innovative techniques such as indoor farming.
Increasing agriculture production using less water and land resources
According to Forbes, by 2050, the world’s population is expected to reach 9.7 billion, requiring a 70 percent increase in global food production in the next 30 years to feed everyone. Agriculture needs to adapt to use less water and pesticides, make crops less vulnerable to climate change, meanwhile provide more consistent yields. When compared to outside farming, indoor farms recirculate and reuse water, requiring 95 percent less water to cultivate the same crops.
The average production of standard lettuce farming doubled when cultivated vertically, according to the US Department of Agriculture. The transpiration process happens when plants or commodities are cultivated in vertical greenhouses, allowing farmers to reuse the water for irrigation. Greater production from less area is necessary, and indoor farming aids in a higher yield of various crops. As arable land becomes scarcer, the growing demand to maximize crop yields will drive the indoor farming business in the projected period.
The initial expense is high
Indoor farming is a costly enterprise, from locating suitable facilities to selecting the best-performing crops necessitates a significant investment. In addition, both greenhouses and vertical farms have a greater percentage of running expenditures due to the high use of electricity.
For an optimal indoor farm, controlling the ambient atmosphere with adequate temperature, lighting, and pollination as well as the plant arrangement is crucial. Land prices alone, which are typically highly expensive in urban areas, considerably boost the initial upfront costs. Equipment prices placed further strain on the budget of many vertical farming enterprises. Climate controls, LED lights, computers, shelving units, water lines, and other pricey equipment are required by most indoor farms.
Key Developments
In November 2021, NASA Research debuted a new phase of indoor farming. This new agricultural approach paved the way for the controlled environment agriculture (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 environs will be the focus of the partnership.
BrightFarms established the newest indoor farm in Hendersonville in May 2021. The lettuce grown in the 6-acre greenhouse will yield 2 million pounds each year. Bright Farms also added three sustainable greenhouse farms to Massachusetts, North Carolina, and New York in 2019.
By growing 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 significant share in the market owing to advantages such as the low cost of water because the water remains in the system and maybe reused and the elimination of the need for soil. Aeroponics is expected to grow at a high CAGR in the projected period.
By component, the global indoor farming technology market can be segmented into software, hardware, and services
Over the estimation period, the hardware category is expected to have the biggest market share and develop quickly in the indoor farming technology market.
COVID-19 Insights
The COVID-19 epidemic impacted the global indoor farming technology market significantly. The adoption rate of indoor farming systems, especially in urban areas worldwide, is expected to skyrocket due to the coronavirus epidemic. The agriculture industry was confronted with some difficulties. Some farmers missed their window of opportunity for harvesting seasonal crops, dropping agricultural product prices, and logistics disruption due to labor shortages. Many countries also realized that they were overly reliant on food imports and began focusing on domestic and internal production.
Market Segmentation:
By Growing Systems
- Hydroponics
- Aeroponics
- Aquaponics
- Soil-based
- Hybrid
By Component
- Hardware
- Software
- Services
By Facility type
- Glass or Poly Greenhouse
- Indoor Vertical Farm
- Container Farm
- Indoor DWC System
By Crop type
- Fruits & vegetables
- Herbs & Microgreens
- Flowers & Ornamentals
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
Companies Mentioned
- AeroFarms
- Bright Farms Inc.
- Bowery Inc.
- FreshBox Farms
- Signify Holding
- Argus Control Systems
- Netafim
- Logiqs
- Richel Group
- Vertical Farm Systems
- General Hydroponics
- Square roots
- Gotham Greens
For more information about this report visit https://www.researchandmarkets.com/r/rt074
