Taiwan 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

Indoor framing can be defined as the practice of growing plants in soilless environments, using technologies such as aquaponics, hydroponics, and aeroponics, or it can refer to controlled-environment agriculture, which focuses on maximizing plant growth. An indoor farm commonly consists of shallow trays piled inside a structure and illuminated by LED lights on each level. These farms have to provide everything, including water, fertilisers, sunlight, and perhaps pollinators and pest control as well. Others may be constructed in enormous greenhouses to maximise the Sun's heat and light while also managing other inputs like fertiliser and water.

Indoor farming approaches have arisen in recent years to meet the confluence of difficulties such as food production, community sustainability, and resource efficiency. Indoor farming allows for the production of nutrient-rich food near home while conserving resources. Such creative agricultural approaches that produce what we need where we need it might help to address some of Taiwan’s food production, storage, distribution, and loss concerns. Food production challenges due to land scarcity, a growing population, pressing food security problems, and climate change are boosting indoor farming approaches as governments in this country encourage farmers to grow more while using fewer resources to enhance food output. The country's market is predicted to increase rapidly throughout the projection period because of the requirement for better output with fewer resources and land. Council of Agriculture figures indicate that Taiwan has 23.57 million people and 36,197 square kilometers of land. This means that the ability to use space as effectively as possible is critical for the country's progress and self-sufficiency. Agricultural land is only suitable for 25 percent of Taiwan's land due to its hilly terrain. Meanwhile, climate change is having an impact on agricultural productivity by raising temperatures and making rain more erratic. Simultaneously, significant soil erosion, acidification, pollution by chemicals and heavy metals, and extensive pesticide usage have all lowered soil quality during the previous 50 years. As a result, the country is embracing indoor agricultural methods.

However, the high cost associated with indoor farming techniques, lack of knowledge, and skilled manpower are some of the factors that will hinder the growth of the indoor farming market in Taiwan.

The reluctance of the country’s youth population to enter the agricultural sector drove growth for indoor framing techniques in the country during the projection period.

Vertical indoor farms have become extremely popular in Taiwan. The prime reason driving the growth of indoor farming is the reluctance of the country’s youth population to enter the agriculture workforce. According to Council of Agriculture statistics, the number of people engaged in the agriculture sector in Taiwan has decreased from approximately 1.3 million in the 1980s to 542,000 in 2021, and the farming population is ageing more rapidly due to a large outflow of young people, the proportion of people aged under 44 years old engaged in farming decreasing from 60 % in 1980 to 60 % in 2021. Only 5% of the population is working in agriculture in 2022. Jobs in the tech industry have become more popular among the younger demographic since they pay more and provide more career opportunities. This shift in labor has helped the tech industry in terms of research and technical experimentation. Indoor farms utilize technology to increase yields and eliminate weather changes while requiring the least amount of labor. Indoor farming technology uses high-tech equipment to regulate parameters such as light, temperature, and nutrients that are most beneficial to plant development while requiring the least amount of labor. This leads to an increase in the use of indoor farming techniques throughout the projection period.

Market Key Developments

• In October 2022, Taiwan is using unoccupied metro spaces to meet the strong demand for sustainable, clean, and organic food. Advanced and efficient vertical farming systems are being used to provide fresh vegetables to commuters. The 40-square-meter 'Metro Fresh' hydroponic garden, located near Taipei's Nanjing-Fushing Station, produces lettuce under LED lighting in a sterile environment, eliminating the usage of pesticides and herbicides.
• In March 2020,  Yes Health group opened a new indoor vertical farm. iFarm, located in Taoyuan's Luchu Township, is Asia's largest indoor plant grower, employing 130 people. The farm is proud of its "4 zeroes 2 lows" criteria and accomplishments, which include zero pesticide residue, zero hazardous heavy metals, zero e.coli,  low nitrates, low bacteria count, and zero parasites. Yes, Health iFarm is not only a great model for organic farming, but it is also a technology-driven 14-story vertical farm with a total area of 2,645 square meters. The iFarm is two stories taller than Japan's greatest vertical farm and produces more than 30 types. Depending on the plant, different LED light spectrums are employed. The iFarm can generate more than 100 times what a regular farm can use one-tenth of the water.

Taiwan Indoor Farming Market Scope:

Segmentation:

• By Growing System
  • Hydroponics
  • Aeroponics
  • Aquaponics
  • Soil- based
  • Hybrid
• By Component
  • Hardware
  • Software
  • Services
• By Facility Type
  • Grass or Poly Greenhouse
  • Indoor Vertical farms
  • Container Farms
  • Indoor DWC System
• By Crop Type
  • Fruits and Vegetables
  • Herbs and Microgreens
  • Flowers and Ornamentals
  • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumption

1.7. Base and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

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. TAIWAN INDOOR FARMING MARKET ANALYSIS, BY GROWING SYSTEM

5.1. Introduction

5.2. Hydroponics

5.3. Aeroponics

5.4. Aquaponics

5.5. Soil-based

5.6. Hybrid

6. TAIWAN INDOOR FARMING MARKET ANALYSIS, BY COMPONENT

6.1. Introduction

6.2. Hardware

6.3. Software

6.4. Services

7. TAIWAN INDOOR FARMING MARKET ANALYSIS, BY FACILITY TYPE

7.1. Introduction

7.2. Glass or Poly Greenhouse

7.3. Indoor Vertical Farm

7.4. Container Farm

7.5. Indoor DWC System

8. TAIWAN INDOOR FARMING MARKET ANALYSIS, BY CROP TYPE

8.1. Introduction

8.2. Fruits and Vegetables

8.3. Herbs and Microgreens

8.4. Flowers and Ornamentals

8.5. Others

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. YesHealth Group

10.2. Nordic Harvest

10.3. EVERLIGHT

10.4. Unimicron Technology

10.5. Airtree Inc

10.6. Hydrolush Agrotech

YesHealth Group

Nordic Harvest

EVERLIGHT

Unimicron Technology

Airtree Inc

Hydrolush Agrotech