Is the Global Indoor Farming Market the Trendy Future of Agriculture?

Posted in Agriculture by Adolf on Jan 30,2023 1083

Indoor farming is a method used by various technologies to grow crops and plants inside the house. This method involves the development of soil-based, aeroponic, aquaponics and hybrid systems to provide high-level nutrient artificial light for crop plants. Home and commercial indoor agricultural technology can be used on both small and large scales. The growing worldwide urbanization leads to significant urban gardening demand. Due to lower transport costs and fresh nutritious products at competitive rates, Indoor Farming Technology is gaining significance.

Furthermore, Indoor Farming Technology is seen by offering green infrastructure and can play a significant role in global food security to provide a possible solution to the impacts of climate change. In the polluted subways around the world, the cities continue to incorporate this trend in their plans.

Indoor Farming depends heavily on artificial light. Artificial light replaces sunlight and must have adequate light intensities for the growth of crops. The quantity and period of the light are the most important aspects of lighting. The technique adopted in indoor farming helps to increase crop production throughout the year by using stacked layers of potted seeds. In fact, it is considered to be an intelligent farming technique that requires technical knowledge. Limited knowledge about and use of advanced technologies creates an imbalance between comprehension and implementation of the concepts in the field of Indoor Farming.

Indoor farming is followed to bolster local food supplies and provide nutritious, fresh produce to consumers. This method of farming controls plant-fertilizing nutrients, so the food that is grown using this technique is highly nutritious. In indoor farming, a wide variety of crops such as leafy vegetables, herbs, vegetables, fruits, microgreens, and flowers can be grown. Indoor vertical farming systems provide organic food that is not contaminated with agrochemicals. These form the major driving forces for the indoor vertical farming along with the increasing consumer demand for pesticide- and herbicide-free food.

The global indoor farming market is projected to rise by US$ 10.7 billion by 2028 and is anticipated to expand at a CAGR of 7.8 percent during the forecast period. The market is driven by the factors such as the rise in consumer awareness about the benefits of consuming fresh and organic food items and the surge in the global population, thereby increasing the food requirements. Besides, high end investments by the public and private players to boost the growth of the agriculture industry by adopting modern agriculture practices, including urban and precision farming, are expected to create lucrative growth opportunities for the market players in the forecast period.

Based on the growing system, the hydroponics technology offers many benefits, including no use of soil and low cost of water, as the water remains in the system and can be reused. The nutrition levels can entirely be controlled, resulting in lower nutrient cost with stable and high yield. Hydroponics need a continuous flow of nutrients to prevent drying out of the roots, as they lack a medium to store water and nutrients which has resulted in its growing usage as an alternative source of agriculture.

Moreover, commercial producers use the hydroponics mechanism for growth. This mechanism is more easily developed and costs less than other mechanisms (ROI). In comparison to hydroponics, aeroponics demands a significant initial investment. Hydroponic mechanism refines the most water-efficient agriculture method, with negligible wastage. Control can be effectively carried out over the amount of nutrients to be delivered to the plants, enabling control over the growth process and impacting factors such as plant growth speed and size. Unlike aeroponics, plants can continue supplying water and nutrients during a long time in the event of a power outage because of the collapse of the mist spraying nozzles or because of malfunctioning. The plant is supported by a plant's hydroponic mechanism.

The consumption of fruits & vegetables has witnessed an overall double-digit growth in the last few decades. Based on crop type, the high demand for fruits & vegetables has encouraged farmers to produce higher and better yields, owing to which they adopt modern and high-end technologies. Fruits & vegetables form an important segment of the indoor farming market, since advanced greenhouse methods and technologies are used on a large scale to grow the produce throughout the year. Using indoor vertical farms for the production of fruits & vegetables, more outdoor area is made available for the production of cereals and fodder crops.

Some of the key market players of the global indoor farming market report include AeroFarms LLC, Agrilution GmbH, American Hydroponics, Argus Control Systems Ltd., Bright Farms Inc. (Cox Enterprises, Inc.), Everlight Electronics Co., Ltd, General Hydroponics (Hawthorne Gardening Company), Hydrodynamics International, Inc., Illumitex, Inc., Logiqs B.V., LumiGrow, Inc., Netafim Ltd. (Orbia Advance Corporation S.A.B. de CV), Priva Holdings B.V., Richel Group SA, Signify N.V., Vertical Farm Systems Pty Ltd., Village Farms International Inc., among others.

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