South America Indoor Farming Market Size, Share, Opportunities, And Trends By Growing System (Hydroponics, Aeroponics, Aquaponics, Soil-based, Hybrid), By Component (Hardware, Software And Services), By Facility Type (Glass Or Poly Greenhouse, Indoor Vertical Farm, Container Farm, Indoor DWC System), By Crop Type (Fruits And Vegetables, Herbs And Microgreens, Flowers And Ornamentals, Others), And By Country - Forecasts From 2023 To 2028
- Published : Feb 2023
- Report Code : KSI061614462
- Pages : 124
To reduce the amount of area needed for growth, crops are grown indoors in a confined environment on racks. Growing crops in a vertical layer with artificial heat and light are known as vertical farming. Indoor farming is more productive than traditional farming techniques and uses less area and water. It also costs less to operate. Indoor farming takes into account crops like summer squash, bell peppers, eggplants, cantaloupe, English cucumbers, herbs, tomatoes, and mushrooms.
This regulated agriculture will be forced to switch to vertical farming, which has been the answer to feeding many South American cities like Lima and Bogota, as a result of population expansion and the deterioration of agricultural lands. The key factor promoting the expansion of the South American indoor farming industry is a better yield in a much smaller area, a shorter growing period, less water usage, a gassy product that has widely grown to the point of consumption, and improved meal taste.
The ability of these cities to produce more food and export it will depend on environmentally regulated agriculture technology, which is inhibiting the expansion of the vertical farming business in South America, where there are several of the largest cities in the world. Leading firms in the South American vertical farming crops market include AeroFarms, CropOne, Plantlab, and Gotham Greens. To maintain their position in the competitive market, the organizations are concentrating on implementing organic growth tactics such as new launches and expansions.
Demand for Hydroponics to experience the fastest growth rate in South America
The most popular indoor farming method in South America is soil-based farming. Hydroponic plants yield more fruits and vegetables since they are grown in a very small space compared to normal production of plants and this upsurges plant yields. A method for the growth of plants may be utilized in some hydroponic systems to provision the plant roots and inspire more functioning water absorption into the root structure so that plants can almost grow everywhere year-round.
The use of hydroponic systems in various agricultural regions and after natural catastrophes has proven to be quite effective. In the market for indoor farming, South America’s hydroponics market share is expanding tremendously. The indoor farming technique of aeroponics enhances nutrient uptake while putting less stress on the plant, producing superior total production. Aeroponics offers the additional benefit of utilizing less water and generating more when compared to other controlled environments agriculture systems like hydroponics and aquaponics.
?Technological advancements in indoor farming to surge market in South America
It is anticipated that the rising adoption of technological developments in South America's indoor farming sector will drive down costs overall and boost market momentum. For instance, AgroUrbana, with its 3000-square-foot prototype plant in Santiago, was the first vertical farm to be created in Latin America (Chile). Additionally, South America intends to expand on this farm's replication (30,000 square feet). AgroUrbana will be able to multiply its output thanks to this new facility, which will also support faster market expansion. As a current house mix, lettuce is produced by AgroUrbana.
Brazil is projected to be the prominent market shareholder in the indoor farming market and is anticipated to continue throughout the forecast period.
All of the major Brazilian cities have seen the emergence of vertical farming businesses. The primary agricultural research organization in Brazil, Embrapa, has been investigating mineral nutrition control for crops cultivated hydroponically. Brazil also has an abundance of land resources, and climate conditions have a greater impact on vegetable output than land supply does. According to studies, there are at least three vertical farms in the city of Sao Paulo alone. Brazil is also mostly recognized for its vertical farms. It is founded on the idea of using cutting-edge technology to produce food within buildings rather than outside, delivering local, fresh produce to metropolitan areas while minimizing environmental effects. Pink Farms is currently producing micro-greens for direct consumer sales.
Market Key Developments
- In December 2022, through its SLC Ventures division, SLC Agricola, the largest agricultural producer in Brazil, is investing in the vertical farming firm Pink Farms. Pink Farms will be able to increase production capacity with the aid of funding to meet the demand for produce cultivated vertically in Brazil and Latin America.
- In August 2022, BASF and Corteva Agriscience announced their long-term partnership to provide innovative soybean weed control strategies for farmers all over the world. The two businesses concurred to jointly license soybean features while also creating complementing herbicide technologies, allowing both to provide cutting-edge soybean weed control options.
- By Growing System
- By Component
- By Facility Type
- Glass or Poly Greenhouse
- Indoor Vertical Farm
- Container Farm
- Indoor DWC System
- By Crop Type
- Fruits and Vegetables
- Herbs and Microgreens
- Flowers and Ornamentals
- By Country
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. SOUTH AMERICA INDOOR FARMING MARKET ANALYSIS, BY GROWING SYSTEM
6. SOUTH AMERICA INDOOR FARMING MARKET ANALYSIS, BY COMPONENT
7. SOUTH AMERICA FARMING MARKET ANALYSIS, BY FACILITY TYPE
7.2. Glass or Poly Greenhouse
7.3. Indoor Vertical Farm
7.4. Container Farm
7.5. Indoor DWC System
8. SOUTH AMERICA INDOOR FARMING MARKET ANALYSIS, BY CROP TYPE
8.2. Fruits and Vegetables
8.3. Herbs and Microgreens
8.4. Flowers and Ornamentals
9. SOUTH AMERICA INDOOR FARMING MARKET ANALYSIS, BY COUNTRY
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.1. Pink Farms
11.2. Microgreens Argentina
11.4. Corteva Agriscience
11.6. Case IH
11.10. Crop One
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