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.
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 SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
| Report Attribute | Details |
|---|---|
| No. of Pages | 372 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 133.9 Million |
| Forecasted Market Value ( USD | $ 192 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
