The Asia Pacific Indoor Farming Market would witness market growth of 13.3% CAGR during the forecast period (2022-2028).
Indoor farms, which use piled layers of potted seeds to increase total crop production per unit area, contribute to driving the industry. Indoor farming employs aquaponics and hydroponics, as well as artificial lights to provide appropriate light and nutrients. Increased health awareness and the consumption of residue-free food have cleared the path for innovative techniques like indoor farming to be used. People are producing the essential crops on a very low scale in their homes in order to have pest-free edibles, which has resulted in a higher yield.
New technology must be developed to lower the carbon impact of indoor agriculture. Because large farms are required to monitor, manage, provide, and collect nutrients, farmers are more interested in investing in technologies that will lower their labor costs. As a result, entirely automated urban farms based on vertical agriculture and regulated agriculture in the environment may be possible in the future.
Due to the presence of numerous indoor farms, nations such as Japan and China are expected to experience significant development in the coming years. Additionally, the region's constantly growing population has resulted in an increase in demand for organic food, leading to the construction of greenhouses as well as vertical farms to increase the production of crops. Due to the availability of less productive agricultural land, a growing awareness of the importance of alternative farming practices is likely to stimulate regional demand.
There is an increase in the demand for indoor farming technology in this region as a result of increased international business lines investing in agriculture activities to exclusively fulfill the demands of crop farmers for export-quality commodities. Additionally, the farming business in the Asia Pacific area has been changing away from traditional agricultural practices and toward modern and innovative ways.
The China market dominated the Asia Pacific Indoor Farming Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7,388.1 million by 2028. The Japan market is experiencing a CAGR of 12.7% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 14% during (2022 - 2028).
Based on Component, the market is segmented into Hardware (Lighting systems, Irrigation systems, Sensors, and Climate control systems) and Software (Web-Based and Cloud-Based). Based on Facility Type, the market is segmented into Greenhouses, Vertical Farms, and Others. Based on Crop Type, the market is segmented into Tomato, Lettuce, Bell & Chili Peppers, Strawberry, Leafy Greens, Herbs, Cucumber, Flowers & Ornamentals, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Indoor Farming Market is Projected to reach USD 88.2 Billion by 2028, at a CAGR of 12.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Orbia Advance Corporation, Certhon, General Hydroponics, Hydrodynamics International, Argus Control Systems Limited, Priva BV, LumiGrow, Inc., Richel Group, and Vertical Farm Systems Pty Ltd.
By Component
By Facility Type
By Crop Type
By Country
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