Singapore Indoor Farming Market Overview, 2029

Despite its small size and dense urban landscape, Singapore has embraced a ground-breaking approach to agriculture, pioneering urban farming practices that maximize food production within limited space. By utilizing vertical farms, rooftop gardens, and hydroponic systems, the country has found innovative ways to produce fresh food locally, helping to meet a portion of its domestic food demand and reducing its heavy reliance on imports. Vertical farms in Singapore use stacked layers of crops grown in controlled environments, allowing for year-round production. Hydroponic systems, which grow plants without soil, use nutrient-rich water solutions to optimize growth while minimizing water usage—an essential factor for land-scarce Singapore. The Singaporean government has played a crucial role in supporting the development of the urban farming sector. Through incentives, grants, and funding for research and development, the government encourages technological advancements that enhance the productivity and sustainability of urban farming initiatives. The "30 by 30" goal, aimed at producing 30% of Singapore's nutritional needs domestically by 2030, underscores this commitment. While Singapore’s urban farming efforts are still relatively small compared to traditional agricultural industries, they have demonstrated the nation’s dedication to food security and sustainability in the face of climate change and supply chain disruptions.

According to the research report "Singapore Indoor Farming Market Overview, 2029," published by Bonafide Research, the Singapore Indoor Farming market is anticipated to grow at more than 16.56% CAGR from 2024 to 2029. Singapore, a densely populated city-state with limited agricultural land, has embraced indoor farming as a solution to meet its growing food demands and ensure food security. The country's urban farming movement has gained significant momentum in recent years, driven by factors such as technological advancements, government support, and increasing consumer awareness. One of the major trends in Singapore's indoor farming market is the increasing adoption of vertical farming. This innovative technique allows for the cultivation of crops in stacked layers, maximizing production in limited spaces. Vertical farms have become a common sight in Singapore, with many located in urban areas, including rooftops and industrial buildings. Another notable trend is the growing popularity of hydroponics and aeroponics. These cultivation methods utilize nutrient-rich water solutions or mist to grow plants without soil, resulting in higher yields and reduced water consumption. Hydroponic and aeroponic farms have become increasingly efficient and scalable, making them attractive options for both commercial and small-scale growers.

The Singapore government has played a crucial role in supporting the growth of the indoor farming industry. Through initiatives such as the Urban Farming Grant and the Agri-Food Innovation Fund, the government has provided financial assistance to farmers and researchers to develop innovative indoor farming technologies. Additionally, the government has implemented policies to promote the consumption of locally grown produce, which has helped to increase demand for indoor-grown vegetables and fruits.

The Singapore indoor farming market is characterized by various facility types, including vertical farming, greenhouses, and other innovative structures. Among these, vertical farming is rapidly gaining prominence due to its ability to maximize space and yield in urban environments where land is scarce. This method employs stacked layers to grow crops using advanced technologies such as hydroponics and LED lighting, allowing for year-round production and minimal water usage. Greenhouses also play a significant role in the market, providing a controlled environment that enables the cultivation of a variety of crops while protecting them from external weather conditions. The affordability and efficiency of greenhouses make them a popular choice among local farmers. Other facility types, such as container farms and aquaponics systems, are emerging as viable alternatives that leverage technology to enhance sustainability and productivity. However, the market faces challenges, including high operational costs and competition from cheaper imported produce, which can hinder the profitability of local farms. The Singaporean government actively supports indoor farming initiatives through funding and research programs aimed at increasing local food production and achieving its goal of producing 30% of nutritional needs by 2030.

The Singapore indoor farming market is shaped by various growth mechanisms, including hydroponics, aeroponics, aquaponics, soil-based systems, and hybrid methods. Notably, soil-based systems represent the largest segment due to their traditional effectiveness in supporting diverse crop varieties and natural nutrient uptake. This method remains popular among local farmers who appreciate its familiarity and reliability. Hydroponics is also gaining momentum, allowing for soilless cultivation that utilizes nutrient-rich water solutions to enhance growth rates and maximize yields. This technique is particularly advantageous in urban settings where land is scarce, enabling year-round production of high-quality crops. Aeroponics, which involves growing plants in a mist environment without soil, is emerging as an efficient alternative that further conserves water while promoting rapid growth. Aquaponics combines fish farming with plant cultivation, creating a sustainable ecosystem that optimizes resource use. Hybrid systems that integrate multiple techniques are also being explored to enhance productivity and sustainability.
Covid-19 impact:
Traditional farming was hit hard during the pandemic due to lockdowns, border closures, quarantines, and supply chain disruptions. This limited access to fresh agricultural produce paved the way for indoor farming. In fact, the pandemic pushed the market demand for indoor farming as the populace was already experiencing high levels of food insecurity. During the pandemic's early stages of spread, the agriculture sector encountered difficulties. There were severe labor shortages on farms; some farmers lost their window of opportunity to harvest seasonal crops; agricultural product prices were plummeting; and logistics were disrupted. All this in spite of the fact that agriculture didn’t face a harsh shutdown as it was under essential services that were exempted. The development of indoor farming can also help in addressing all aspects of various food security concerns. Increased health awareness and the consumption of food free of residues have made it possible to use cutting-edge methods, such as indoor farming. In order to have food that is pest-free, people are cultivating essential crops on a modest scale in their own homes, which has increased productivity.



Considered in this report
• Geography: Singapore
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Singapore Indoor Farming market with its value and forecast along with its segments
• various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
By Growth Mechanism
• Hydroponics
• Aeroponics
• Aquaponics
• Soil-based
• Hybrid

By Facility Type
• Vertical Farm
• Greenhouse
• Others

The approach of the report:
We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

Intended Audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the battery manufacturers, 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.