Product ID: UCMIG30H2058
Report ID:
UCMIG30H2058 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2022, the global indoor farming market reached a significant valuation of USD 34,246.5 million. Looking ahead, the market is projected to experience substantial growth with a compound annual growth rate (CAGR) of 12.9% from 2023 to 2030. This growth can be attributed to several factors driving the demand for indoor farming practices worldwide. The increasing population, limited arable land, and unpredictable weather conditions are pushing the agricultural industry towards more efficient and controlled cultivation methods. Indoor farming offers numerous advantages such as year-round crop production, reduced dependency on pesticides, and efficient resource utilization, making it an attractive solution for sustainable food production.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Agricultural Products by segment aggregation, the contribution of the Agricultural Products in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30H2058