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
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Mordor Intelligence has segmented the global indoor farming market based on the growing system, facility type, crop type, and geography:
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