Seaweed Protein Market to See Massive Growth by 2026

 According to the new market research report “Seaweed Protein Market by Source (Red, Brown, Green), Extraction Process (Conventional Method, Current Method), Application (Food, Animal Feed & Additives, Personal Care & Cosmetics), and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the market size is estimated to be valued at USD 465.5 million in 2020. It is projected to reach USD 981.6 million by 2026 recording a CAGR of 13.2% during the forecast period. The shift towards more nutritional food options have increased the demand for seaweed derived food products across the globe. Seaweeds or macroalgae are a rich source of protein and contain all sources of essential amino acids at various concentrations. They act as a suitable alternative for vegan consumers and for those who are allergic to dairy whey protein and eggs. The protein content in some seaweed are similar to those of traditional protein sources such as egg, meat, milk, and soybean. The yield of protein is higher from seaweeds when compared to terrestrial crops, such as wheat, soybean, and pulse legumes.

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The red seaweed segment, by source is projected to account for the largest share, during the forecast period.

Red seaweeds have almost 47% weight of dry matter. In this regard, the crude protein content of genera Pyropia (dulse) and Porphyra (nori) is comparable with that of high protein plant foods such as soy. The most significant species of red seaweeds that contain higher protein levels are Porphyra (47% of dry mass), and Palmaria palmata (35% of dry mass). Porphyra tenera and Palmaria palmata are among the highest consumed species of seaweed in Asia, as well as Western countries, due to their high protein content and their delectable flavour.

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The food segment, by application is projected to account for a major share in the market during the forecast period

Although the consumption of seaweed in humans is currently in developing stage, especially in Western countries, the high protein content and favorable essential amino acid profile make seaweed a promising source of protein that has huge potential in the coming future. Seaweed has been successfully incorporated as a functional ingredient into several foods at the laboratory scale.

The conventional method segment is projected to account for a major share in the market during the forecast period

Conventional methods of seaweed protein extraction include physical processes, enzymatic hydrolysis, and chemical extraction methods. While physical methods include aqueous treatment, and osmotic stress; enzymatic hydrolysis includes disrupting the algal cell wall and then combining multiple extraction methods to obtain the protein content.

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The Asia pacific region is projected to account for a major share in the market during the forecast period

The largest market share of Asia Pacific is attributed to the expansion of the seaweed industry in Asian countries such as China, Indonesia, South Korea, and the Philippines, owing to factors such as raw material availability, favorable climatic conditions for the production of seaweeds, and availability of cheap labor.

This report includes a study on the marketing and development strategies, along with the product portfolios of leading seaweed protein manufacturing companies. It consists of profiles of leading companies, such as CP Kelco U.S., Inc. (US), Algaia (France), Gelymar (South Africa), Seasol (South Africa), Compo Expert GmBH (Germany), Qingdao Gather Great Ocean Algae Industry Group (China), and Qingdao Seawin Biotech Group Co. Ltd. (China).

Cheese Market To Explore Excellent Growth In Future

  According to MarketsandMarkets™, the "Cheese Market by Product Type (Cheddar, Mozzarella, Parmesan, American Cheese, and Blue Cheese), Type (Cheese Product and Cheese Powder), Source (Animal and Plant), Nature, Distribution Channel, Application, and by Region - Global Forecast to 2026", is estimated to be valued at USD 88.7 billion in 2021 and is projected to reach USD 105.9 billion by 2026, recording a CAGR of 3.6% during the forecast period. The cheese market is highly impacted by the increasing size of the convenience & fast-food industry and innovative offerings by cheese manufacturers. The growth rate of the fast-food industry is significant owing to the changing lifestyles of people around the globe.

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The rising influence of western cuisines, inflating disposable incomes, and introduction of a number of flavored cheese products, including pepper, garlic, red chili flakes, and oregano pickle, drives the cheese market. Although cheese is a staple in Western countries such as Europe and the US, its versatility enables it to cater to the different tastes and preferences of consumers globally.


The sauces, dressings, dips, and condiments segment, by application, is projected to witness significant growth during the forecast period.


Cheese powder imparts an enhanced cheese flavor to sauces, dressings, dips, and condiments. This can be done with the use of a single flavor cheese or a mix of more than one cheese flavors. The use of cheese powder also offers better taste, convenience, and functionality in recipes where high-temperature cooking is required. With the rapidly rising demand for fast food in the Asia Pacific, the demand for cheese powder in sauces, dressings, dips, and condiments is likely to grow at the highest rate, in this region, during the forecasted period.


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161 – Tables
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196 – Pages


The cheddar cheese segment, by product type, is estimated to dominate the market in 2021.


Cheddar is one of the many varieties of cheese, which is off white in color and has a sharp taste with a relatively hard texture than any other varieties. This category of cheese is most popular in European countries. Cheddar cheese finds application across a multitude of industries including bakery (melted, grated, shredded), soups, sauces, & dips, ready meals, snacks & cereals, and other food applications.


The Asia Pacific region is projected to witness the highest growth during the forecast period.


The countries in the Asia Pacific region have a well-established dairy industry, which subsequently proves the potential for growth of the cheese market in these regions. Hectic work schedules, along with the rising prevalence of western food culture, represent some of the significant factors strengthening the cheese market growth in the Asia Pacific region. Since the past few years, the rapid food globalization has caused a boom in the retail and foodservice sectors, owing to this there is the demand for cheese-based products that is expected to generate significant growth in this region.


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Key Players:


This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, Glanbia (Ireland), Saputo (Canada), Arla Foods (UK), BEL Group (France), Fonterra (New Zealand), FrieslandCampina (Netherlands), Dalter Alimentari Spa (Italy), The Kraft Heinz Company (US), Amul (India), DMK Deutsches Milchkontor GmbH (Germany), and Meiji Holdings (Japan).

Agrochemicals Market : Key Factors behind Market’s Rapid Growth

  The global agrochemicals market size is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4% during the forecast. Increasing demand for food supply due to the rapid growth in the human population has triggered agricultural intensification during the last few decades. For addressing the growing food demands, agrochemicals (fertilizers and diverse pesticides) are rigorously used in agriculture, which accomplishes the gap between food production and consumption. However, concurrently unbalanced use of agrochemicals also causes environmental deterioration and poses severe challenges to aquatic and terrestrial ecosystems. Various research studies have indicated that fertilizers and pesticides used in agriculture have been substantially increased in developed and developing countries in recent years for attaining maximum yields of crops.

COVID-19 impact on the agrochemicals market

The crop protection sector is in huge demand in recent years, with its increasing importance on the growth. This is because it has a lot to do with the well-being of the plants and the consumers. The components that are used in the production of agrochemicals are sometimes chemicals and sometimes biological species, which ultimately help in controlling the pests from damaging the crops or helps improve soil fertility. This results in healthy crop production with no health issues. With these concerns, farmers have started the usage of various agrochemicals to prevent damage and hence, increase productivity. Due to the emergence of the COVID-19 pandemic, there has been a supply chain disruption because of which the agricultural sector had to face problems such as labor unavailability, transportation barriers, restriction for market access, and lack of inventories in some regions. Many fertilizer and pesticide manufacturers were facing issues due to lack of raw material availability, which has led to the reduction of various agrochemical product manufacturing. Post COVID-19, the agricultural activities have normalized, which has helped the companies to deliver products to target locations. Agrochemicals, such as pesticides and fertilizers, play an important role, as they have been able to serve as an important solution for farmers across the globe.


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Global agrochemicals market dynamics

Drivers: Increasing adoption of agrochemicals in developing countries
Continuous advancements in the technology used in agriculture have led to a shift in farming practices. With the increased export and import of agricultural commodities across different geographies, especially in developing regions, new types of harmful organisms have emerged, leading to an increase in the demand for novel active ingredient products to safeguard crops.

Globalization of the agrochemical industry has a huge impact on the Asian crop protection markets. With the highest rate of population growth, increasing the need for food production, and economic growth, the demand for various agrochemicals such as herbicides and pesticides are increasing. While the demand for food products is increasing in the developing countries of Asia Pacific, the available landmass for agriculture is shrinking due to the increased effect of urbanization that propels farmers to use various agrochemicals to maintain soil health and increase land productivity.

Restriants: Growth of the organic fertilizer industry
The organic food industry witnessed high growth across the emerging countries, with increasing awareness regarding health, environment protection, food safety, and animal welfare reforms. The demand for organic food products is increasing, and according to the estimates of the Organic Trade Association, nearly 81% of American families reported to be purchasing organic food products at least once. The growing market demand for safe and healthy food products and improving per capita income are factors that are estimated to continue driving the organic food industry and increase the usage of biofertilizers, which, in turn, affects the consumption of chemical fertilizers.

Opportunities: Production of sustainable bio-based agricultural products
Due to the toxic ingredients contained in the chemicals agricultural products, their pollution levels are so high that they cause serious and, most of the time, fatal effects to the environment. These negative effects can be experienced from the production of the product to the consumption of the plants that these products have been applied on. Most biological products occur naturally, which reduces the cost of production, resulting in relatively cheaper prices compared to chemical pesticides, whose manufacturing cost is high. This results in the consumer footing the bill at a relatively costlier price. Records have shown that pests tend to become resistant to conventional pesticides, thus proving that it is not a long-term solution, something that never happens with the use of organic pesticides and fertilizers. Hence, the agrochemical manufacturing companies are constantly adapting to the changing demands by developing novel products and technologies. Bio-based products are one of the focus areas of agrochemical companies. With the increasing awareness of eco-friendly and sustainable products, bio-based agrochemicals are being increasingly developed as potential alternatives for synthetic chemicals in a variety of applications.

Challenges: Intense competition between players in the market
The market for agrochemicals is highly fragmented, comprising of a large number of big and small players. The majority of players in the market are located in the European region and offer a variety of products. With the growing demand for various agrochemical products, the major players in the market are focusing on R&D investments to launch products, which would cater to the requirements of the consumers. For instance, Compass minerals (US), Bayer (Germany), and Syngenta (Switzerland) launched a range of products to cater to the demand for new and effective pesticides to protect crops from various pests. The huge demand has also aided the growth of the distributors in the market who cater to the demand from niche markets.

Asia Pacific is the fastest-growing market during the forecast period in the global agrochemicals market
Being the largest as well as the most populous region in the world, Asia Pacific is one of the key markets for agrochemicals. However, it continues to remain untapped by major market players. The region accounted for almost 30% of the land available on Earth and nearly 60% of the human population, according to the World Bank. To meet the food requirement of this huge population, the use of pesticides has increased significantly in the region. India, Japan, Australia, and Thailand are the highest pesticide- consuming countries in the world. In addition to this, a decrease in arable land per person in India, China, and Southeast Asia countries is a very serious concern.

The increasing need for food crops in the region has fueled the use of pesticides to enhance crop yield. The use of pesticides is becoming a common practice in India, China, and other less-developed countries in the region, leading to growth in areas where there had previously been very little or no pesticide usage. However, the lack of awareness and advanced technology, adverse socio-economic conditions, and fragmented landholdings are the main hurdles for developing the crop protection chemicals market in the Asia Pacific region.

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Key participants in the agrochemicals market such as Bayer (Germany), BASF (Germany), Yara International (Norway), Compass Minerals (US), and Syngenta (Switzerland). These players have focused on strategies such as new product launches and expansions to gain a larger market share in the agrochemicals feed market. Some of the other dominant players in the market include Adama Ltd (Israel), Sumitomo Chemicals (Japan), Nufarm Limited (Australia), UPL (India), K+S Group (Germany), and Israel Chemical Company (Israel). The market for agrochemicals for the study has been segmented by fertilizer type, by pesticide type and by crop type.

Upcoming Growth Trends in the Insect Protein Market

 The insect protein market is projected to reach USD 1,336 million by 2025, from USD 144 million in 2019, at a CAGR of 45.0 % during the forecast period. Factors driving the market include the shift in preferences from animal protein to alternative proteins such as insect protein due to the increased concerns over future sustainability, and increased public and private support for new insect protein research projects in both developed and developing economies.

Collaborations between insect protein-based product manufacturers and retailers to increase visibility and awareness

Higher costs and visibility of insect protein-based products have been some of the major problems for the companies. Many start-ups have been selling these products majorly through online channels. However, due to the increasing awareness regarding the benefits of insect protein and to increase the visibility of insect protein-based products, many companies have started collaborating with retail chains and other convenience stores. For instance, Eat Grub, a UK-based insect protein-based product manufacturer, collaborated with SOK—one of Finland's largest supermarket groups. SOK would be selling Eat Grub’s products in 400 of its stores. In another instance, insect-based snacks French start-up, Jimini’s, secured a listing with Carrefour, a multinational retailer, to supply items to 300 of its stores. Jimini’s intends to educate and increase awareness regarding insect protein as a future sustainable source for proteins by selling insect-based products in retail stores. Thus, to increase visibility, awareness, and the sales of insect protein-based products, start-ups such as Eat Grub (UK) and Aspire Food Group (US) are collaborating with retail stores, which can be a strategic step to develop the insect protein industry.

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Key Market Players:

Insect protein finds major applications in the food and feed industries, and hence, profiling of major manufacturers of insect protein products for both food and feed applications has been covered in this report. The key companies in the insect protein market for the food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany), while key companies in the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), and Protix (Netherlands). These players are undertaking strategies such as new product developments and launches and divestments to improve their market positions and extend their competitive advantage.

EntomoFarms (Canada) is one of the leading insect technology companies operating in both the food and feed industries. Along with edible insects, the company develops and markets protein products in the Canadian market. It produces approximately 2,500 tons of protein powder for use in both food and feed applications, annually. The company believes in a zero-waste approach and produces frass for fertilizer application. For food application, it develops protein powder from crickets, while for application in the feed industry, the company provides customized solutions.

Ÿnsect (France) is an emerging biotechnology company involved in the manufacturing of specialty products for feed and plant nutrition. The company engages in the bioconversion of organic resources by insects and their processing into nutrients for feed and fertilizer applications. Some of these organic resources include polysaccharides and derivatives, organic fertilizers, and bioenergy. The company has vertically integrated operations. The company also engages in breeding insects; sorting their byproducts; processing valuable products such as protein, oil, chitosan, and frass for multiple industrial applications; as well as packaging and distributing products.

The company launched its lab-scale production of insect protein in 2013, in partnership with multiple research centers, after which the construction of its first commercial plant started in 2017 through multiple funds raised by the company. Ÿnsect owns Ÿnstitute, the world’s leading insect private R&D center dedicated to driving innovative new technologies, products, applications, and know-how.

Protix (Netherlands) is one of the leading insect ingredient companies, with a broad range of offerings based on black soldier flies. The company initiated and founded the International Producers of Insects for Feed and Food (IPIFF), one of the leading associations for insect protein. Protix has been actively tapping the European market for insect protein through both organic and inorganic strategies. The company, recently, in 2017, expanded its portfolio to include other insects such as crickets and mealworms, by acquiring Fair Insects (Netherlands). The company has been entering into partnerships with the leading players in the technology industry intending to enhancing its portfolio and regional presence in Europe. The company not only markets edible insects for animal nutrition but also processes byproducts from insects to provide premium protein-rich products in the market.

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Target Audience
Supply-side: insect protein manufacturers, suppliers, distributors, importers, and exporters
Traders and suppliers of raw materials such as insects
Demand-side: Food manufacturers, processors, and distributors
Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
Associations and industry bodies: Food and Agriculture Organization (FAO), US Department of Agriculture (USDA), Grain and Feed Trade Association, and Food Products Association

Pectin Market Size, High Demand, Manufacturers, Revenue, Growth Drivers, Traders and Product Scope

 The report "Pectin Market by Type (HM Pectin, LM Pectin), Raw Material (Citrus fruits, Apples, Sugar beet), Function, Application (Food & beverages, Pharmaceutical & Personal Care Products, Industrial Applications), and Region - Global Forecast to 2025" The global pectin market size is estimated to be valued at USD 1.0 billion in 2019 and is expected to reach a value of USD 1.5 billion by 2025, growing at a CAGR of 6.5% during the forecast period. Increase in functional food & beverage consumption, the multi-functionality of pectin, and the rise in the use of natural ingredients in foods due to greater consumer awareness about healthy diets is driving the global pectic industry.

By type, the HM pectin segment is projected to dominate the pectin market during the forecast period.

HM pectin is the most common type of pectin and is labeled as either rapid-set or slow-set. The gel strength of HM pectin remains high due to the increase in the degree of methylation; however, any further increase in the degree of methylation, i.e., more than 70%, leads to a decrease in its gel strength. HM pectins are widely used in the production of jams and jellies, as they are used for thickening the product.

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By raw material, the citrus fruits segment is projected to dominate the pectin market during the forecast period.

The demand for citrus fruits from the pharmaceutical & personal care industries has drastically increased over the last decade. Citrus fruits contain active phytochemicals that can protect health, and in addition to this, they also abundantly provide vitamin C, folic acid, and potassium. Sugar beet pectin extracts show a potential role as an emulsifier apart from a gelling agent, due to which it becomes a viable substitute for gum Arabic, as less quantity is required to activate the oil-water interface.

The increasing demand for pectin in Europe and Asia Pacific is driving the growth of the pectin market.

The European and Asia Pacific countries are witnessing increasing demand for pectin mainly in the food & beverages industries. Europe accounted for the largest share of the global pectin market due to the high demand for convenience foods & functional dairy products and increasing consumption of jam & jellies and baked goods.

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Asia Pacific is likely to be the fastest-growing region in the global pectin industry. The growth in the market is driven by the growing demand for convenience foods, functional dairy products, and baked goods, coupled with the changing consumer lifestyle in the region.

Key Market Players

Key players in this market include DowDupont (US), Cargill, Incorporated (US), Ingredion Incorporated (US), CP Kelco (US) and Koninklijke DSM N.V. (Netherlands). Major players in this market are focusing on increasing their presence through new product launch, expansions & investments, mergers & acquisitions, partnerships, collaborations, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Agricultural Pumps Market : An Exclusive Study on Upcoming Trends and Growth Opportunities

 The report "Agricultural Pump Market by Type (Rotodynamic Pumps, Positive Displacement Pumps), Power Source (Electricity-grid Connection, Diesel/Petrol, Solar), HP, End-Use (Irrigation, Livestock Watering), and Region – Global Forecast to 2025" size is estimated to be valued at USD 4.2 billion in 2020. It is projected to reach a value of USD 6.1 billion by 2025, growing at a CAGR of 7.6% during the forecast period.

Factors such as increasing land being brought under irrigation, rising adoption of modern agricultural practices in developing countries, government support in the adoption of new agricultural equipment and technology, increased rate of mechanization, and the advent of big data in agricultural farms are some of the factors that are driving the growth of the market. However, the operation of pumps in fragmented landholdings and high maintenance costs are some of the factors hindering the growth of this market.

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The positive displacement pumps segment, by type, is projected to grow at the fastest rate during the forecast period

The agricultural pumps market, by type, has been segmented into rotodynamic pumps and positive displacement pumps. Rotodynamic pumps have been further classified as centrifugal, axial flow, and mixed flow. Positive displacement pumps have been further classified as rotary and reciprocating pumps. Although rotodynamic pumps account for the largest market share during the forecast period, the market for positive displacement pumps is projected to grow at the fastest rate due to an increase in the investments being made for the adoption of these pumps in the agricultural sector. It is being used in open fields for applications such as drip and sprinkler irrigation, fertigation, and spraying.

The irrigation segment, by end-use, is estimated to hold the largest revenue share in the agricultural pumps market in 2020

The agricultural pumps market, by end-use, has been segmented into irrigation and livestock watering. With the increasing population and subsequent rise in demand for food, there has been an increase in the land area being brought under irrigation due to which a complementary demand pattern can be witnessed for agricultural pumps. The major portion of the water withdrawals made across the globe caters to the agricultural sector, and within the agricultural sector, it is used for irrigation purposes.

The electricity grid-connection segment, by power source, is estimated to account for the largest revenue share of the agricultural pumps market in 2020

There are three main sources of power for agricultural pumps, namely electricity grid-connection, diesel/petrol, and solar. While many growing markets, such as South America, the Middle East, and Africa, make use of conventional energy sources such as oil, gas, and coal for driving pumps. However, in regions such as Asia Pacific, Europe, and North America, the market for electricity grid-connections is higher, as it is being provided at a subsidized rate to the farmers. The use of electric pumps is more efficient and cost-effective as compared to that of diesel/petrol pumps.

The markets for agricultural pumps in the range of 4 hp-15 hp, by power source, is estimated to account for the largest share of the agricultural pumps market in 2020

The agricultural sector makes use of pumps varying in the range based on the depth of area from which the water has to be sourced or the distance from water sources, such as reservoirs, rivers, lakes, and dams. The most used type of agricultural pumps is in the range of 4hp -15hp due to its widespread application in irrigation activities of small and medium-sized landholdings. Since, in the agricultural sector, most of the available land is fragmented, it is convenient and cost-effective to make use of pumps of this range.

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Asia Pacific is projected to hold the largest market share during the forecast period

Asia Pacific is the largest share of the global agricultural pumps market due to the presence of some of the major agricultural crop producers, such as China, India, and South Korea, which have large population sizes that demand various varieties of crop products to meet their consumption requirements. This has led to an increase in the land being brought under cultivation, which leads to the growing demand for agricultural pumps.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural pumps market. It consists of the profiles of the leading companies such as Xylem Inc. (US), Grundfos (Denmark), Kirloskar Brothers Limited (India), KSB SE (Germany), Valmont Industries (US), Jain Irrigation Systems (India), Franklin Electric (US), WILO (Germany), Shakti Pumps Ltd (India), and Shimge Pump Industry Group Co., Ltd (China).

Indoor Farming Technology Market Global Outlook, Trends, and Forecast

 According to the new market research report “Indoor Farming Technology Market by Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), Facility Type, Component, Crop Type (Fruits & Vegetables, Herbs & Microgreens, Flowers & Ornamentals), and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the market size is estimated to account for a value of USD 14.5 billion in 2020 and is projected to grow at a CAGR 9.4% from 2020, to reach a value of USD 24.8 billion by 2026. Factors such as the higher yield as compared to conventional agriculture practices, controlled environment farming, and improved yield and higher produce with limited land resources, are some of the key factors driving the growth of the indoor farming technology market during the forecast period.

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COVID-19 Impact on the Global Indoor Farming Technology Market

Amid the spread of COVID-19 pandemic, many individuals have developed a critical point of view towards outdoor food. With health and food safety becoming the key focus, the populations around the globe have showed an inclination towards home cooking and self-made/homemade meals. This has put the food and hotel industry into jeopardy. After the devastating outbreak of coronavirus pandemic, the adoption rate of urban indoor farming systems around the world are estimated to rise sharply. The agriculture industry faced challenges during the initial phases of the spread of the pandemic. There were huge labour shortages on the farm, some farmers missed their window of opportunity for harvesting for seasonal crops, the falling prices of agricultural products and the disruption of logistics. Many countries also realized their over dependence on imports of food materials and hence began emphasizing on internal and domestic productions.


Indoor Farming Technology Market Dynamics

Driver: Need for higher yields using limited space and water.
One of the main advantages of indoor farming is its higher yield compared to conventional farming methods. Enclosed facilities used in indoor farming create optimum growing conditions for farmers to grow a crop from seed to the harvesting stages in lesser time and obtain higher yields in each cycle with limited land area. According to USDA data, in 2016, the average yield of tomatoes grown in greenhouse hydroponics was 10.59 pounds per square foot, and that of traditionally grown tomatoes was 1.85 pounds per square foot. Therefore, indoor farms can increase the overall crop yield by stacking additional layers and increasing the growing area.


Indoor farming addresses the concern of limited space, as certain plants can be grown in smaller areas. For instance, in vertical farming, every facility developed reduces the need for utilizing land by a hundred-fold. The level of water wastage is less when compared to conventional farming. Indoor farms recirculate and reuse the water; an average of 95% less water is required to grow the same crops as compared to outdoor farming. When plants or crops are grown in vertical greenhouses, the transpiration process occurs, which makes it feasible for farmers to reuse the water for irrigation purposes. The chances of water wastage become minimal, and therefore, this method is helpful in resource conservation.


Restraint: High initial investments

The initial cost of the indoor farming setup is more compared to the investment required in traditional farming. One of the main factors responsible for the high investment is the cost of urban land, which is higher than that of farmland. Furthermore, energy accounts for a higher percentage of operating costs for both vertical farms and greenhouses. For instance, in vertical farming operations, lights run for 16 hours per day, while in greenhouses, light is applied to plants for 9 hours per day in winter.


Powering up a farmscraper for lights and controlling ambient temperatures involve high costs and are labor-intensive. Controlling the environment within buildings with regard to lighting, temperature, pollination, and the arrangement of plants is important for an ideal indoor farm. Farmers are required to make a high initial investment for the devices and equipment used for indoor farming. This is one of the major restraints for the indoor farming technology market.


Opportunity: Development of innovative and cost-effective technologies
Many technologies used in indoor farming do not have a long commercially proven record, and studies are still being conducted to ascertain the impact of these technologies on the shelf life of plants. Through research conducted at the Lighting Research Center (New York), the impact of LED lighting on plants was studied, and it showed positive results. However, the technology is in the introductory stage and requires improvements to become optimally beneficial and commercially viable.


New technologies need to be developed to decrease the carbon footprint in indoor farming. Growers are more interested in investing in technologies that would lower their costs invested in labor, as they are required on large-scale farms for monitoring, maintaining, supplying the nutrients, and harvesting. Hence, in the future, there is an opportunity to develop fully automated urban farms based on vertical farming and controlled environment agriculture.


Challenge: Lack of adequate funding


In many agriculture-related businesses, finding an investor is very difficult, and this might act as a challenge, thereby leading to fewer growers investing in indoor farming. Furthermore, limited funding slows down the pace of R&D for indoor farming in public institutions and universities, which, in turn, limits the availability of data and information, which would otherwise encourage cultivators to invest.


In the recent scenario, however, there are some sources of high funding available for players in the indoor farming technology market space. For instance, Aerofarms (US), one of the indoor farming players, raised USD 50 million from Goldman Sachs Group (US) and Prudential Financial, Inc. (US).


The increasing adoption of hydroponics and vertical farming systems in the Asia Pacific countries, drive the regions growth rate at a higher pace.
The Asia Pacific region is projected to grow at the highest rate, as the demand for indoor farming technology has been growing in this region due to the increasing investment of overseas business lines in agricultural operations to exclusively meet the demands of the crop growers to attain export-quality crops. In addition, the farming industry in the Asia Pacific region has been shifting toward technological and innovative methods from a conventional agricultural practice system. These shifts lead to the modernization of crop management techniques to gain better premium value for the crops. There are numerous indoor farms in China, Japan, Singapore, Taiwan, and other such technologically advanced countries. China is estimated to account for the largest share in the Asia Pacific indoor farming technology market due to the increasing investments from several multinational manufacturers in R&D and the adoption of greenhouse farming for the production of certain crops. The restraining factor in the Asia Pacific market is the high initial cost required to set up these systems.


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Key Market Players

Key players in this market include include major players such as Signify Holding (Netherlands), Everlight Electronics (China), Argus Control Systems (Canada), LumiGrow (US), Netafim (Israel), Logiqs (Netherlands), Illumitex (US), Hydrodynamics International (US), American Hydroponics (US), Richel Group (France), Vertical Farm Systems (Australia), General Hydroponics (US), Agrilution (Germany), Heliospectra AB (Sweden), Scotts Miracle Gro (US), Hydroponics System International (Spain), Advanced Nutrients (US), Emerald Harvest (US), VitaLink (UK), and Grobo (US). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.