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The indoor farming market are expected to increase at a 9.6% CAGR, reaching US$ 96,675 Mn in 2032. The agriculture industry is adopting new methods to meet the growing demand for organic food. Vertical farming is gaining traction and will emerge as one of the key farming methods in the forthcoming years. With the development of new technologies, vertical farms are using artificial light control, humidity control, and gas control within the facility. Vertical farming improves automation, lowers emissions, and lowers costs.
Some of the major factors driving the adoption of vertical farming include the higher yield associated with vertical farming over conventional farming, year-round crop production regardless of weather conditions, advancements in light-emitting diode (LED) technology, and the need for minimal resources.
Furthermore, growing adoption of indoor farming with activities such as revamping derailed vacant warehouses, derelict buildings, and high rises, which increases the production of fresh grown foods is further expected to fuel the growth in the market.
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“Growing urbanization, increasing demand for high quality food, and independent agricultural techniques are responsible for the expansion of indoor farming. Besides this, the depletion of groundwater and changing climatic conditions are encouraging traditional growers to adopt alternative farming methods,” says a lead analyst at FMI.
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Argus Control Systems Ltd., Certhon, AeroFarms, Bright Farms Inc., Richel Group, Bowery Inc., FreshBox Farms, Metropolis Farms Inc., General Hydroponics, Hydrodynamics International, Illumitex, Lumigrow, Vertical Farm Systems, Priva, and Netafim among others are some of the players profiled by FMI.
Leading players operating in the indoor farming are investing in promotional strategies, advertisements, and new product launches to gain a competitive edge in the market. Some recent developments include:
Global Indoor Farming Market by Category
Top FMI Consumer Product Reports:
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About Future Market Insights (FMI) Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Indoor Farming Market to reach at US$ 96.6 Bn in 2032 | U.S. Considered a Prominent Indoor Farming Market appeared first on Future Market Insights.
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