Europe Indoor Farming Market Size, Share & Industry Trends Analysis Report By Component, By Facility Type (Greenhouses, Vertical Farms), By Crop Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Indoor Farming Market would witness market growth of 12.2% CAGR during the forecast period (2022-2028).
The high-tech, fully regulated, and semi-automated greenhouse facilities across rural areas, as well as environmentally friendly farming practices are increasing the popularity of indoor farming. Moreover, technical improvements in monitoring, farming sensors, and controlling equipment for each part of production have aided the market's growth. Further, this technology allows for food production in a sustainable environment without the use of chemical pesticides, hence growing production of organic yields, which are currently in high demand from consumers.
Farmers are establishing indoor facilities closer to urban areas as the world population continues to increase and urbanize, resulting in a stable, local, and sustainable year-round food supply. Additionally, the rising frequency of floods, droughts, and other natural catastrophes around the world has prompted concerns about food security. As a result, indoor agriculture has grown in popularity in various countries.
The increasing utilization of hydroponic systems across indoor farming is opening up new commercial prospects in Europe. It has a number of benefits, including higher yields, faster growth, and less water usage than conventional methods. Various Agri-tech companies in Europe are spending more on aquaponics farms these days since they prevent soil-borne plant and fish diseases. For example, in April 2021, the urban agriculture startup Les Nouvelles Fermis raised USD 2.36 million to build urban aquaponics farms across Europe.
The regional government is launching a number of programs aimed at constructing indoor farms in order to address issues such as climate change, population growth, and food production that is unfriendly to the environment. Farm owners are at the forefront of investing in technology that is projected to reduce labor expenses, like LED lighting and crop monitoring devices. In Europe, the growing difficulties of limited land and space for food production are prompting cities and businesses to adopt controlled environment farming approaches. According to World Bank estimates from 2018, the amount of arable land in Europe has been steadily decreasing since 1960.
The Germany market dominated the Europe Indoor Farming Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,780.2 million by 2028. The UK market is estimated to grow at a CAGR of 11.2% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 13% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Indoor Farming Market Size will Hit $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.
Scope of the Study
Market Segments Covered in the Report:
- Lighting systems
- Irrigation systems
- Climate control systems
By Facility Type
- Vertical Farms
By Crop Type
- Bell & Chili Peppers
- Leafy Greens
- Flowers & Ornamentals
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Orbia Advance Corporation
- General Hydroponics
- Hydrodynamics International
- Argus Control Systems Limited
- Priva BV
- LumiGrow, Inc.
- Richel Group
- Vertical Farm Systems Pty Ltd
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