Urban Farming Global Market Report 2024

The urban farming market size has grown strongly in recent years. It will grow from $146.21 billion in 2023 to $159.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth observed in the historical period in urban farming can be attributed to several factors, including the increasing global population and urbanization trends, concerns related to climate change and the environment, the rise of the local food movement advocating for locally sourced produce, government support and policies promoting sustainable agriculture, and the growing awareness of health and nutrition leading to a demand for fresh, locally grown food. These factors collectively contributed to the expansion and adoption of urban farming practices as a response to the challenges posed by modern urban lifestyles and environmental considerations.

The urban farming market size is expected to see strong growth in the next few years. It will grow to $217.49 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The anticipated growth in the forecast period for urban farming can be attributed to factors such as the utilization of post-industrialization and abandoned spaces for agricultural purposes, the momentum gained by the community gardens movement, a critique of the green revolution and industrial agriculture practices, historical examples of rooftop farming in ancient cultures, and the influence of urban planning movements such as the City Beautiful Movement.

The anticipated decrease in the availability of farmland is expected to drive the growth of the urban farming market in the coming years. Farmland, characterized as land suitable for or used in farming activities, including cultivated land for crops and pasture for livestock, is facing challenges such as diminishing availability in urban areas. Urban farming emerges as a solution to this issue, creatively maximizing land utilization within urban centers. It promotes sustainability, addresses the impact of urbanization on traditional agriculture, and provides residents with access to fresh produce. According to the U.S. Department of Agriculture's survey in January 2024, the number of farms in the United States decreased from 2.2 million to 2.0 million in 2022, representing a trend observed over the last two decades. Additionally, farmland acres declined from 915 million acres in 2022 compared to 893 million acres. The dwindling availability of farmland is a key driver propelling the growth of the urban farming market.

Major players in the urban farming market are actively focusing on developing technologically advanced products, such as cloud-connected growing centers, to meet the evolving needs of consumers. Cloud-connected growing centers are agricultural facilities equipped with integrated technology that allows for remote monitoring and data analysis through cloud-based systems, optimizing crop cultivation. For instance, in March 2021, Infarm, an Israel-based urban farming company utilizing machine learning and IoT technology, introduced a high-capacity growing center. This modular local farm and distribution facility can produce crops equivalent to up to 10,000 square meters of traditional farmland, showcasing efficiency up to 400 times greater than soil-based farming. These cloud-connected growing centers, enhancing nutritional value, flavor, and yield, are integral to Infarm's expanding global network of self-learning farms.

In September 2022, Gotham Greens, a U.S.-based company specializing in eco-friendly indoor farming, acquired FresH2O Growers Inc. for an undisclosed amount. Gotham Greens announced plans to use the funding from the acquisition to enter new markets, create new products, build new greenhouses, and expand existing facilities. FresH2O Growers, Inc., a U.S.-based company, focuses on growing leafy greens and herbs in a controlled indoor environment.

Major companies operating in the urban farming market report are Infarm, Richel Group, UrbanFarmers AG, Plenty Unlimited Inc., Bowery Farming, Dalsem, Certhon, Aerofarms, Pasona, Plantagon International AB, Agrilution GmbH, BrightFarms Inc., Square Roots Urban Growers Inc., Brooklyn Grange Farm, Green Spirit Farm, Urban Crop Solutions, American Hydroponics, Sky Greens, GrowUP Urban Farms, Edenworks Inc., Garden Fresh Farms Inc, Metropolitan Farms, General Hydroponics, Green Sense Farms LLC, Eden Green Technology, Gotham Greens, MirAI Co. Ltd., SproutsIO Inc., Spread Co. Ltd, Harnois Greenhouses.

North America was the largest region in the urban farming market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the urban farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the urban farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The urban farming market consists of the revenues earned by entities by providing services such as food production, urban redevelopment, job creation, environmental sustainability, and urban farming subscription services. The market value includes the value of related goods sold by the service provider or included within the service offering. The urban farming market also includes sales of robotic vertical farm systems, microcontrollers, nondispersive infrared CO2 detectors, and light-emitting diodes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Urban farming refers to the practice of cultivating agricultural produce, raising animals, or generating food within an urban setting, which includes residential and commercial structures. This can take various forms, including indoor controlled environment farming, community gardens, and rooftop gardens. Urban farming is aimed at promoting sustainable agriculture, reducing food miles (the distance food travels from the point of production to consumption), and enhancing local food security by growing crops within city borders. It often involves utilizing unoccupied or underutilized spaces to cultivate fresh vegetables and contribute to a more sustainable and locally sourced food supply.

The primary types of urban farming include aquaponics, hydroponics, aeroponics, and others. Aquaponics is a sustainable food production system within urban farming that integrates aquaculture (fish farming) and hydroponics (soil-less plant culture). In aquaponics, fish waste provides nutrients for plants, and the plants, in turn, filter and purify the water for the fish. Urban farming structures are categorized as indoor or outdoor, and the crops grown can include both non-food crops and food crops. Urban farming finds applications in various sectors, including commercial and agricultural purposes, contributing to the cultivation of fresh produce in urban environments.

The urban farming research report is one of a series of new reports that provides urban farming market statistics, including the urban farming industry's global market size, regional shares, competitors with a urban farming market share, detailed urban farming market segments, market trends and opportunities, and any further data you may need to thrive in the urban farming industry. This urban farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.