Major food futurists and industry leaders across the globe state that high-tech indoor farming operations are the future of the agriculture industry. Indoor farming is able to operate everywhere, virtually invincible against pests and poor weather, and produce local, fresh, high-quality, low-carbon food year-round. The principal benefit of indoor farming regarding the land is the fact that no soil is used with a lower amount of water. This approach to food production has several positive consequences for land use as well as the environment. As for South America, growing demand for indoor farming in highly populated urban countries, AI-controlled farms, and thriving demand for locally grown products are the major driving forces. In addition to that, the market is projected to expand as the customer demand for organic food is complemented by rising disposable incomes and an accelerating population. However, South America is anticipated to grow at a moderate growth rate during the forecast period owing to a lack of awareness about indoor and vertical farming across the region although the vast majority of the farmland is still available in South America, resulting in the expansion of local and national crop production economies. According to the report titled "South America Indoor Farming Market Outlook, 2027", published by Bonafide Research, the indoor farming market is projected to have a market size of more than USD 1500 million during the forecast period. Despite being widely used in agriculture, indoor farming is virtually unknown in South America. Many market players and industry leaders are trying to change this scenario by bringing their expertise and experience into the market. For instance, in 2018, Bunster and Sjogren launched AgroUrbana, which is believed to be South America’s first indoor large-scale farm. Since then, the momentum has increased and recently, AgroUrbana crossed USD 4 million in series A funding with the aim of implanting indoor farming production across the region. The company currently operates a 3000 square foot climate-controlled pilot facility in Santiago that grows lettuce varieties using hydroponics and artificial lighting systems. The South American indoor vertical market is segmented into three prominent countries, including Brazil, Argentina, and Colombia. Among these countries, Brazil is estimated to lead the market during the forecast period.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally
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Covid-19 impact: The COVID-19 pandemic has severely impacted the South American region. Brazil had the highest number of COVID-19 confirmed cases, followed by other countries, such as Ecuador, Peru, Chile, and Argentina. The governments of various countries in South America imposed several initiatives to protect people and to control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions. These measures had a direct impact on the region’s economic growth as the region would face lower export revenues, both from the drop in commodity prices and the reduction in export volumes. However, a change in consumer preference for healthy and organic foods has positively impacted the market. Also, due to the work from home scenario, a major population has adopted farming as a hobby, which is expected to drive the higher market growth. Major Companies present in the market: Netafim, Everlight Electronics Co., Ltd., AeroFarms, Signify Holding, Heliospectra AB, OSRAM GmbH., Crop One Holdings, Agrourbana Considered in this report • Geography: South America • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027
Aspects covered in this report • South America Indoor Farming Market with its value and forecast along with its segments • Country wise Indoor Farming market analysis • Application wise Indoor Farming distribution • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Colombia Based on type of growth mechanism in the report: • Hydroponics • Aeroponics • Aquaponics • Soil-based • Hybrid Based on facility type of indoor farming in the report: • Vertical Farms • Indoor Greenhouses • Others Based on component type of indoor farming in the report: • Hardware (Lighting, Climate control, Sensors & Others) • Software & Services Based on Crop type in the report: • Fruits, vegetable & herbs • Flowers & ornamentals • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, food & beverage industry, nutrition industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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