A new analysis from Emergen Research estimates the global indoor-farming market size will grow by nearly 10% annually over the next decade.
The global indoor-farming market size was $17.8 billion in 2022 and is expected to register a steady revenue compound annual growth rate of 9.8% during the forecast period, according to the report.
“Rising demand for fresh foods with nutritive value is the primary factor driving market revenue growth,” according to a news release summarizing the report.
Technological advancements in indoor farming methods is a key factor driving revenue growth of the market, the release said. The report said Certhon and Living Greens Farm announced in June a collaboration to further develop and spread Living Greens Farm’s aeroponic technology globally.
“Their game-changing vertical farming technique provides a one-of-a-kind product proposition for full-size head lettuce varietals with an extremely long shelf life, as well as ready-to-eat bagged salads and salad kits,” the release said.
The greenhouse farming segment accounted for the largest revenue share in the global indoor farming market in 2022, the release said.
Related link: More information about the report
