Thailand 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), And By Crop Type (Fruits And Vegetables, Herbs And Microgreens, Flowers And Ornamentals, Others) - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061614480
- Pages : 80
Using layers of potted seeds coated on top of one another, indoor farms upsurge the overall crop output per unit area, pushing the market. Growing plants or crops indoors on both a small scale and a large scale is known as indoor farming. Aquaponics and hydroponics are used in indoor farming, and artificial lighting is used to provide plants with the necessary nutrients and light levels. The high initial cost of constructing indoor farms and restrictions on the types of crops that can be grown are anticipated to stymie industry expansion.
Today, several businesses are interested in betting on the emerging trend of vertical farming. Japanese technology has a big impact on the vertical farming concept in Thailand. For this reason, the term "Plant factory," a jargon that originated in Japan, is the one that most people use to describe vertical farming. The Board of Investment (BOI) of Thailand declared last month that it will formally support investments in plant factories by lowering the tax burden on companies using this technology.
Thailand is still a young nation in the field of vertical farming. Their most well-known farming businesses are NoBitter and Wangree Fresh. Kale production is where NoBitter thrives, whereas Wangree produces 50 tonnes of different green veggies every month. The future of skyfarming in Thailand appears promising thanks to the use of PFALs and semi-automatic technology.
Climate change and urban expansion in Thailand influence the growth of indoor farming.
Climate change has an impact on Thailand, while urbanization lowers the quantity and quality of the nation's crops. Urban agriculture increases a nation's ability to sustainably produce food, and it also has an impact on how urban areas are planned, built, and developed. Adopting the idea of indoor farming and creating urban agriculture, however, is not an easy procedure.
Plants can now be grown inside without sunlight thanks to innovative agricultural technologies. This method of farming, sometimes referred to as indoor farming or city farming, is excellent for growing complete crops of healthier, pesticide-free produce as well as for propagating young plants. It maximizes output by lighting numerous layers of crops with cutting-edge vertical farming lights, producing more with less space. There is also not affected by floods and droughts which will lead to a huge upsurge in the market.
?Hydroponics indoor farming to be a key factor for growth
Hydroponics technology has been adopted by Thailand, where it has been developed to meet the local environment. The general idea has been to improve, enhance, or acquire new knowledge of the technology in the Thai environment.
The investments in a hydroponics system or greenhouse were examined with a focus on the performance of the greenhouse's components, such as the cladding, on the method to measure the greenhouse system's performance, and on other factors that affect the performance and design of the house, such as capital and cost-benefit analysis. Soil-less culture technology incorporates a variety of factors that rely on the technology, including money and the planting method.
Market Key Developments
- In July 2022, Varmers a multinational company situated in Bangkok combines Dutch technology and Thai inventiveness. We are working together to improve the state of Thai cuisine. The majority of the Thai grocery stores will be replaced by our year-round, year-round, affordable locally homegrown organic, pesticide-free fresh leafy greens, soft fruits, herbs, and microgreens.
- In September 2021, The first company in Thailand to offer industrial-scale growing equipment in a shipping container is FlexiFarm, a container farming business.
Thailand Indoor Farming Market Scope:
|Growth Rate||CAGR during the forecast period|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Growing System, Component, Facility Type, And Crop Type|
|Companies Covered||Taikisha (Thailand) Co., Ltd., FlexiFarm, Thai Advance Agri Tech, IntelAgro, Funotech|
|Customization Scope||Free report customization with purchase|
- By Growing System
- By Component
- By Facility Type
- Glass or Poly Greenhouse
- Indoor Indoor Farm
- Container Farm
- Indoor DWC System
- By Crop Type
- Fruits and Vegetables
- Herbs and Microgreens
- Flowers and Ornamentals
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. THAILAND INDOOR FARMING MARKET ANALYSIS, BY GROWING SYSTEM
6. THAILAND INDOOR FARMING MARKET ANALYSIS, BY COMPONENT
7. THAILAND INDOOR FARMING MARKET ANALYSIS, BY FACILITY TYPE
7.2. Glass or Poly Greenhouse
7.3. Indoor Indoor Farm
7.4. Container Farm
7.5. Indoor DWC System
8. THAILAND INDOOR FARMING MARKET ANALYSIS, BY CROP TYPE
8.2. Fruits and Vegetables
8.3. Herbs and Microgreens
8.4. Flowers and Ornamentals
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Taikisha (Thailand) Co., Ltd.
10.3. Thai Advance Agri Tech
Taikisha (Thailand) Co., Ltd.
Thai Advance Agri Tech
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