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Plant Factories - Global Strategic Business Report

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    Report

  • 372 Pages
  • November 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5991189
The global market for Plant Factories was estimated at US$133.9 Million in 2023, and is projected to reach US$192.0 Million by 2030, growing at a CAGR of 5.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the plant factories market is driven by several factors. Firstly, the increasing global population and urbanization are leading to higher demand for locally grown, fresh produce, which plant factories can provide efficiently. Secondly, concerns over food security and supply chain disruptions, highlighted by events such as the COVID-19 pandemic, have spurred interest in more resilient and sustainable food production methods. Thirdly, the rising awareness and preference for sustainable and pesticide-free food are encouraging consumers to support and purchase from plant factories. Additionally, technological advancements, such as improvements in LED lighting efficiency, automation, and AI-driven agricultural practices, are making plant factories more economically viable and attractive to investors. The trend towards smart cities and the integration of urban agriculture into city planning are also promoting the adoption of plant factories. Finally, government initiatives and subsidies aimed at promoting sustainable agriculture and reducing carbon footprints are providing additional support and incentives for the growth of the plant factories market.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Soil-based Systems segment, which is expected to reach US$128.0 Million by 2030 with a CAGR of a 5.6%. The Non Soil-based Systems segment is also set to grow at 4.9% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $36.5 Million in 2023, and China, forecasted to grow at an impressive 8.6% CAGR to reach $40.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Plant Factories Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Plant Factories Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Plant Factories Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Avisomo, Beijing Kingpeng International Hi-Tech Corporation., Bowery Farming Inc, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 36 Featured):

  • Avisomo
  • Beijing Kingpeng International Hi-Tech Corporation.
  • Bowery Farming Inc
  • EMK Group A.S.
  • Farminova Plant Factory
  • GROWISE Co. Neulpurenchae
  • HORIBA, Ltd
  • KUBOTA Corporation
  • MIRAI Co., Ltd.
  • Mitsubishi Chemical Group Corporation
  • Oishii Farm
  • Plant Factory
  • Plant Factory Group Pty Ltd
  • Plenty Unlimited Inc.
  • Taikisha Ltd.
  • Urban Agrotech b.v.
  • Urban Crop Solutions

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Farming Beyond Fields: The Rise of Plant Factories in the Agriculture Industry
  • The Answer to Food Security & Resilience Enigma
  • Plant Factories: Digitalization of Agricultural Domain & Key Challenges
  • Plant Factory: Definition, Scope & Applications
  • Main Components of Plant Factories
  • Types of Plant Factories
  • Intriguing Advantages of Plant Factories
  • Applications of Plant Factories
  • Economic Frontiers: Trends, Trials & Transformations
  • In a World Torn by Geopolitical Instability & War, Steadfastness of Global GDP Becomes Increasingly Unpredictable Given the Many Direct and Indirect Economic Repercussions: World Economic Growth Projections (Real Gross Domestic Product (GDP), Annual % Change) for the Years 2022 Through 2025
  • All Eyes on Global Inflation, the Main Risk Factor in Global Markets: Global Headline Inflation Rates (In %) for the Years 2019 through 2025
  • With Oil Prices Influencing the Rate of inflation, it Remains the Most Watched Commodity in Global Markets: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2019 through 2025
  • Pandemic Accelerates Interest In & Popularity Of Vertical Gardening
  • Global Market Outlook
  • Vegetables Segment Leads Global Market
  • Greenhouses & Indoor Farms as Key Facility Type Segments
  • Non-Soil-Based Systems to Dominate Market
  • Regional Analysis
  • Competition
  • Plant Factory - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
  • Recent Market Activity
  • Influencer/Product/Technology Insights
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Plant Factory Emerges as Innovative & Viable Solution for Agriculture
  • Significant Benefits of Plant Factories Compared to Traditional Farming Methods Augur Well for the Market
  • Expanding Global Population and Demand Supply Imbalance Drive Focus onto Plant Factories
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
  • Climate Change Compounds Food Security Concerns, Driving Market Opportunities
  • Shrinking Arable Land and Limited Food Production Drive Significance of Plant Factories
  • Global Cropland in Billion Hectares for the Years 1990, 2000, 2010, 2015, 2020 and 2023
  • Global Availability of Arable Land in Hectares Per Capita for the Years 2000, 2005, 2010, 2015, 2020 and 2023
  • Arable Land Worldwide: % of Land Area for Agriculture for 2023
  • How Is the Growing Consumer Demand for Fresh, Local, and Sustainable Produce Driving Market?
  • Controlled Environment Agriculture (CEA): A Catalyst for Growth in the Plant Factories Market
  • Climate Change Concerns and Need for Stabilized Crop Production Turn Attention onto Plant Factories
  • Average Global Surface Temperature (In Degrees Fahrenheit) for the Years 1940, 2000 and 2020
  • Increasing Consumer Preference for Organic and Non-GMO Produce Sustains Growth
  • Global Organic Foods and Beverages Market (in US$ Billion) by Geographic Region for 2020 and 2027
  • Slew of Trends Nurturing the Organic Plant Factory Market
  • Sustainable Farming Practices Drive the Growth of Plant Factories, Paving a Greener Path for Agriculture
  • What Technological Advancements Are Driving Growth in the Plant Factories Market?
  • Integration of Automation and Robotics in Plant Factories Enhances Efficiency
  • AI Transforming Plant Factories for a Sustainable Future
  • Growing Adoption of AI in Agriculture Industry Drives Opportunities for AI Adoption in Plant Factories: Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2020, 2023 and 2026
  • IoT Storms Into the Spotlight for Plant Factories
  • Global Agricultural IoT Market (In US$ Billion) for the Years 2020, 2023 & 2026
  • Focus on Reducing Water Usage and Enhancing Resource Efficiency Drives Adoption
  • Potential to Reduce Carbon Footprint and Environmental Impact Enhances Appeal of Plant Factories
  • Indoor Farming: The Future of Sustainable Agriculture
  • How Energy Management and Automation Innovations Lower Costs for Indoor Farms?
  • Vertical Farming Emerges as a Promising Alternative Technique Compared to Traditional Methods
  • Vertical Farming Market Poised for High Growth
  • Optimum Usage of Vertical Space & Energy Usage and Easy Monitoring & Harvesting of Crops: Key Benefits Driving Adoption
  • Reducing Operating Costs Becomes Imperative to Enhance Economic Viability of Vertical Farming
  • Advancements in Gardening & Farming Technologies Propel Market Growth
  • What Are the Trends in Vertical Farming Space?
  • Vertical Farming Innovations to Revolutionize Agriculture
  • An Insight into Interesting Examples of Vertical Farming Techniques
  • How Are Emerging Technologies Transforming Vertical Farming?
  • Automation and Data-Driven Techniques to Transform Vertical Farming Market
  • LED Grows as the Preferred Medium of Lighting in Vertical Farming
  • Advancements In Light-Emitting Diode (LED) Technology Drive Vertical Farming Market
  • Opportunity Emerges from Vertical Farming of Cannabis
  • Rising Adoption of Indoor/Rooftop Farming in Urban Locations: Potential Growth Opportunities
  • Preference for Home Grown Vegetables & Fruits Amid Health Concerns & Food Inflation Drives Demand for Vertical Gardens
  • Greenhouse Facilities: A Catalyst for Growth in the Plant Factories Market
  • Major Trends Impacting the Greenhouse Market
  • Automated Greenhouse: The Ultimate Objective
  • Innovations in Horizontal Farming: Revolutionizing Crop Cultivation
  • Urban Farming: A Modern Solution Rooted in History
  • Emerging Trends in Urban Farming
  • How Is Urban Farming Transforming Cities into Food Hubs?
  • Plant Factories Revolutionizing Produce Supply for Restaurants and Grocery Stores
  • Plant Factories Accelerate the Development of New Crop Varieties
  • Major Challenges Confronting Plant Factories Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Soil-based Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World Historic Review for Soil-based Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 3: World 12-Year Perspective for Soil-based Systems by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Non Soil-based Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 5: World Historic Review for Non Soil-based Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 6: World 12-Year Perspective for Non Soil-based Systems by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Hybrid Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Hybrid Systems by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 9: World 12-Year Perspective for Hybrid Systems by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Greenhouse Facilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 11: World Historic Review for Greenhouse Facilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 12: World 12-Year Perspective for Greenhouse Facilities by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Indoor Farm Facilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 14: World Historic Review for Indoor Farm Facilities by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 15: World 12-Year Perspective for Indoor Farm Facilities by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Other Facility Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 17: World Historic Review for Other Facility Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 18: World 12-Year Perspective for Other Facility Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Vegetable Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 20: World Historic Review for Vegetable Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 21: World 12-Year Perspective for Vegetable Crops by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Fruit Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 23: World Historic Review for Fruit Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 24: World 12-Year Perspective for Fruit Crops by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Flowers & Ornamental Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 26: World Historic Review for Flowers & Ornamental Crops by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 27: World 12-Year Perspective for Flowers & Ornamental Crops by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Other Crop Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 29: World Historic Review for Other Crop Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 30: World 12-Year Perspective for Other Crop Types by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2018, 2024 & 2030
  • Table 31: World Plant Factory Market Analysis of Annual Sales in US$ Thousand for Years 2018 through 2030
  • Table 32: World Recent Past, Current & Future Analysis for Plant Factory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 33: World Historic Review for Plant Factory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2018 through 2022 and % CAGR
  • Table 34: World 12-Year Perspective for Plant Factory by Geographic Region - Percentage Breakdown of Value Revenues for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2018, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
EUROPE
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
BRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
AFRICA
  • Plant Factory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned

  • Avisomo
  • Beijing Kingpeng International Hi-Tech Corporation.
  • Bowery Farming Inc
  • EMK Group A.S.
  • Farminova Plant Factory
  • GROWISE Co. Neulpurenchae
  • HORIBA, Ltd
  • KUBOTA Corporation
  • MIRAI Co., Ltd.
  • Mitsubishi Chemical Group Corporation
  • Oishii Farm
  • Plant Factory
  • Plant Factory Group Pty Ltd
  • Plenty Unlimited Inc.
  • Taikisha Ltd.
  • Urban Agrotech b.v.
  • Urban Crop Solutions

Table Information