Global Plant Factory Market Size, Trends, By Facility (Indoor Farms, Greenhouses, and Others), By Light (Sunlight, Artificial Light), By Growing System (Soil-Based, Non-Soil-Based, Hybrid), By Crop Type (Fruits, Vegetables, Ornamentals, and Others), and B
Description
Global Plant Factory Market Size, Trends, By Facility (Indoor Farms, Greenhouses, and Others), By Light (Sunlight, Artificial Light), By Growing System (Soil-Based, Non-Soil-Based, Hybrid), By Crop Type (Fruits, Vegetables, Ornamentals, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Plant Factory Market
The Global Plant Factory Market was valued at US$ 135.61 Mn in 2022, estimated to reach US$ 221.84 Mn by 2030, with a CAGR of 6.21% from 2023-2030.
A plant factory is a high-tech agriculture facility that allows for year-round indoor cultivation of crops in a controlled environment. It is a closed-loop system that uses artificial lighting, hydroponics, and a controlled environment to maximize crop production and quality. Plant factories are gaining popularity as a way to address food security concerns, reduce the environmental impact of agriculture, and increase crop yields. They are particularly well-suited for urban areas where there may be limited access to land for traditional farming.
Market Drivers
The global market for plant factories is being driven by the growing demand for food due to the rising global population and increasing urbanization, which has led to a surge in demand for high-quality and nutrient-rich crops.
Additionally, the increasing need for year-round crop production and the ability to control environmental factors such as temperature, light, and humidity are boosting the adoption of plant factories. The rising awareness about the advantages of vertical farming techniques, including increased crop yield, efficient use of resources, and reduced environmental impact, is also driving the growth of the plant factory market.
Market Restraints
There are several factors that could restrain the growth of the global plant factory market, such as the high initial investment required, the lack of awareness and technical expertise regarding plant factories in certain regions, and the need for a stable power supply and high energy costs associated with operating a plant factory.
Moreover, the limited range of crops that can be cultivated in a plant factory and the lack of standardization in terms of quality and safety regulations could also hamper the growth of the market.
Market Segmentation
The scope of the global plant factory market covers segmentation based on facility, light, growing system, crop type, and region.
On the basis of the facility, the market is segmented into indoor farms, greenhouses, and others. Based on the light, the market is segmented into sunlight and artificial light.
Further, the market is segmented into the growing system, such as soil-based, non-soil-based, and hybrid. The market is also segmented into crop types, such as fruits, vegetables, ornamentals, and others.
Regional Analysis
The global plant factory market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Europe is a major market for plant factories due to the increasing demand for organic products, technological advancements, and favorable government regulations.
The North American market is expected to witness fast growth due to the increasing adoption of vertical farming, advancements in farming technology, and rising consumer demand for locally grown produce.
Key Players
Mirai, Plenty Unlimited Inc, Gotham Greens, Agricool, AppHarvest, Aerofarms, CropOne, Bowery Farming Inc, Oishii, Bright Farms, Lufa Farms, Farminova Plant Factory, etc.
Market Taxonomy
By Facility
Global Plant Factory Market
The Global Plant Factory Market was valued at US$ 135.61 Mn in 2022, estimated to reach US$ 221.84 Mn by 2030, with a CAGR of 6.21% from 2023-2030.
A plant factory is a high-tech agriculture facility that allows for year-round indoor cultivation of crops in a controlled environment. It is a closed-loop system that uses artificial lighting, hydroponics, and a controlled environment to maximize crop production and quality. Plant factories are gaining popularity as a way to address food security concerns, reduce the environmental impact of agriculture, and increase crop yields. They are particularly well-suited for urban areas where there may be limited access to land for traditional farming.
Market Drivers
The global market for plant factories is being driven by the growing demand for food due to the rising global population and increasing urbanization, which has led to a surge in demand for high-quality and nutrient-rich crops.
Additionally, the increasing need for year-round crop production and the ability to control environmental factors such as temperature, light, and humidity are boosting the adoption of plant factories. The rising awareness about the advantages of vertical farming techniques, including increased crop yield, efficient use of resources, and reduced environmental impact, is also driving the growth of the plant factory market.
Market Restraints
There are several factors that could restrain the growth of the global plant factory market, such as the high initial investment required, the lack of awareness and technical expertise regarding plant factories in certain regions, and the need for a stable power supply and high energy costs associated with operating a plant factory.
Moreover, the limited range of crops that can be cultivated in a plant factory and the lack of standardization in terms of quality and safety regulations could also hamper the growth of the market.
Market Segmentation
The scope of the global plant factory market covers segmentation based on facility, light, growing system, crop type, and region.
On the basis of the facility, the market is segmented into indoor farms, greenhouses, and others. Based on the light, the market is segmented into sunlight and artificial light.
Further, the market is segmented into the growing system, such as soil-based, non-soil-based, and hybrid. The market is also segmented into crop types, such as fruits, vegetables, ornamentals, and others.
Regional Analysis
The global plant factory market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Europe is a major market for plant factories due to the increasing demand for organic products, technological advancements, and favorable government regulations.
The North American market is expected to witness fast growth due to the increasing adoption of vertical farming, advancements in farming technology, and rising consumer demand for locally grown produce.
Key Players
Mirai, Plenty Unlimited Inc, Gotham Greens, Agricool, AppHarvest, Aerofarms, CropOne, Bowery Farming Inc, Oishii, Bright Farms, Lufa Farms, Farminova Plant Factory, etc.
Market Taxonomy
By Facility
- Indoor Farms
- Greenhouses
- Others
- Sunlight
- Artificial Light
- Soil-Based
- Non-Soil-Based
- Hybrid
- Fruits
- Vegetables
- Ornamentals
- Others
- North America
- U.S.
- Canada
- Mexico
- Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
- Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- What are the key opportunities in the Global Plant Factory Market?
- What will be the growth rate from 2023 to 2030?
- Which segment/region will have the highest growth?
- What are the factors that will impact/drive the market?
- What is the competitive landscape in the industry?
- What is the role of key players in the value chain?
Table of Contents
224 Pages
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market Definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Plant Factory Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.2.4 Cumulative Impact due to Recent Energy Crisis
- 4.2.5 Cumulative Impact due to Nearing Economic Downturn
- 4.2.6 Post Covid-19 World Supply & Demand Conditions
- 4.2.7 Cumulative Impact of Russia-Ukraine Conflict
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Plant Factory Market, By Facility
- 5.1 Y-o-Y Growth Comparison, By Facility
- 5.2 Global Plant Factory Market Share Analysis, By Facility
- 5.3 Global Plant Factory Market Size and Forecast, By Facility
- 5.3.1 Indoor Farms
- 5.3.2 Greenhouses
- 5.3.3 Others
- 6 Global Plant Factory Market, By Light
- 6.1 Y-o-Y Growth Comparison, By Light
- 6.2 Global Plant Factory Market Share Analysis, By Light
- 6.3 Global Plant Factory Market Size and Forecast, By Light
- 6.3.1 Sunlight
- 6.3.2 Artificial Light
- 7 Global Plant Factory Market, By Growing System
- 7.1 Y-o-Y Growth Comparison, By Growing System
- 7.2 Global Plant Factory Market Share Analysis, By Growing System
- 7.3 Global Plant Factory Market Size and Forecast, By Growing System
- 7.3.1 Soil-Based
- 7.3.2 Non-Soil-Based
- 7.3.3 Hybrid
- 8 Global Plant Factory Market, By Crop Type
- 8.1 Y-o-Y Growth Comparison, By Crop Type
- 8.2 Global Plant Factory Market Share Analysis, By Crop Type
- 8.3 Global Plant Factory Market Size and Forecast, By Crop Type
- 8.3.1 Fruits
- 8.3.2 Vegetables
- 8.3.3 Ornamentals
- 8.3.4 Others
- 9 Global Plant Factory Market, By Region
- 9.1 Global Plant Factory Market Share Analysis, By Region
- 9.2 Global Plant Factory Market Size and Forecast, By Region
- 9.3 Global Plant Factory Market Trends and Forecast, By Region
- 10 North America Plant Factory Market Analysis and Forecast (2023-2030)
- 10.1 Introduction
- 10.2 North America Plant Factory Market Share Analysis, By Facility
- 10.3 North America Plant Factory Market Size and Forecast, By Light
- 10.4 North America Plant Factory Market Size and Forecast, By Growing System
- 10.5 North America Plant Factory Market Size and Forecast, By Crop Type
- 10.6 North America Plant Factory Market Size and Forecast, By Country
- 10.6.1 U.S.
- 10.6.1.1 Market Size and Forecast, By Facility
- 10.6.1.2 Market Size and Forecast, By Light
- 10.6.1.3 Market Size and Forecast, By Growing System
- 10.6.1.4 Market Size and Forecast, By Crop Type
- 10.6.2 Canada
- 10.6.2.1 Market Size and Forecast, By Facility
- 10.6.2.2 Market Size and Forecast, By Light
- 10.6.2.3 Market Size and Forecast, By Growing System
- 10.6.2.4 Market Size and Forecast, By Crop Type
- 10.6.3 Mexico
- 10.6.3.1 Market Size and Forecast, By Facility
- 10.6.3.2 Market Size and Forecast, By Light
- 10.6.3.3 Market Size and Forecast, By Growing System
- 10.6.3.4 Market Size and Forecast, By Crop Type
- 11 Europe Plant Factory Market Analysis and Forecast (2023-2030)
- 11.1 Introduction
- 11.2 Europe Plant Factory Market Share Analysis, By Facility
- 11.3 Europe Plant Factory Market Size and Forecast, By Light
- 11.4 Europe Plant Factory Market Size and Forecast, By Growing System
- 11.5 Europe Plant Factory Market Size and Forecast, By Crop Type
- 11.6 Europe Plant Factory Market Size and Forecast, By Country
- 11.6.1 Germany
- 11.6.1.1 Market Size and Forecast, By Facility
- 11.6.1.2 Market Size and Forecast, By Light
- 11.6.1.3 Market Size and Forecast, By Growing System
- 11.6.1.4 Market Size and Forecast, By Crop Type
- 11.6.2 France
- 11.6.2.1 Market Size and Forecast, By Facility
- 11.6.2.2 Market Size and Forecast, By Light
- 11.6.2.3 Market Size and Forecast, By Growing System
- 11.6.2.4 Market Size and Forecast, By Crop Type
- 11.6.3 UK
- 11.6.3.1 Market Size and Forecast, By Facility
- 11.6.3.2 Market Size and Forecast, By Light
- 11.6.3.3 Market Size and Forecast, By Growing System
- 11.6.3.4 Market Size and Forecast, By Crop Type
- 11.6.4 Russia
- 11.6.4.1 Market Size and Forecast, By Facility
- 11.6.4.2 Market Size and Forecast, By Light
- 11.6.4.3 Market Size and Forecast, By Growing System
- 11.6.4.4 Market Size and Forecast, By Crop Type
- 11.6.5 Italy
- 11.6.5.1 Market Size and Forecast, By Facility
- 11.6.5.2 Market Size and Forecast, By Light
- 11.6.5.3 Market Size and Forecast, By Growing System
- 11.6.5.4 Market Size and Forecast, By Crop Type
- 11.6.6 Spain
- 11.6.6.1 Market Size and Forecast, By Facility
- 11.6.6.2 Market Size and Forecast, By Light
- 11.6.6.3 Market Size and Forecast, By Growing System
- 11.6.6.4 Market Size and Forecast, By Crop Type
- 11.6.7 Rest of Europe
- 11.6.7.1 Market Size and Forecast, By Facility
- 11.6.7.2 Market Size and Forecast, By Light
- 11.6.7.3 Market Size and Forecast, By Growing System
- 11.6.7.4 Market Size and Forecast, By Crop Type
- 12 Asia Pacific Plant Factory Market Analysis and Forecast (2023-2030)
- 12.1 Introduction
- 12.2 Asia Pacific Plant Factory Market Share Analysis, By Facility
- 12.3 Asia Pacific Plant Factory Market Size and Forecast, By Light
- 12.4 Asia Pacific Plant Factory Market Size and Forecast, By Growing System
- 12.5 Asia Pacific Plant Factory Market Size and Forecast, By Crop Type
- 12.6 Asia Pacific Plant Factory Market Size and Forecast, By Country
- 12.6.1 China
- 12.6.1.1 Market Size and Forecast, By Facility
- 12.6.1.2 Market Size and Forecast, By Light
- 12.6.1.3 Market Size and Forecast, By Growing System
- 12.6.1.4 Market Size and Forecast, By Crop Type
- 12.6.2 Japan
- 12.6.2.1 Market Size and Forecast, By Facility
- 12.6.2.2 Market Size and Forecast, By Light
- 12.6.2.3 Market Size and Forecast, By Growing System
- 12.6.2.4 Market Size and Forecast, By Crop Type
- 12.6.3 India
- 12.6.3.1 Market Size and Forecast, By Facility
- 12.6.3.2 Market Size and Forecast, By Light
- 12.6.3.3 Market Size and Forecast, By Growing System
- 12.6.3.4 Market Size and Forecast, By Crop Type
- 12.6.4 South Korea
- 12.6.4.1 Market Size and Forecast, By Facility
- 12.6.4.2 Market Size and Forecast, By Light
- 12.6.4.3 Market Size and Forecast, By Growing System
- 12.6.4.4 Market Size and Forecast, By Crop Type
- 12.6.5 Australia
- 12.6.5.1 Market Size and Forecast, By Facility
- 12.6.5.2 Market Size and Forecast, By Light
- 12.6.5.3 Market Size and Forecast, By Growing System
- 12.6.5.4 Market Size and Forecast, By Crop Type
- 12.6.6 New Zealand
- 12.6.6.1 Market Size and Forecast, By Facility
- 12.6.6.2 Market Size and Forecast, By Light
- 12.6.6.3 Market Size and Forecast, By Growing System
- 12.6.6.4 Market Size and Forecast, By Crop Type
- 12.6.7 Singapore
- 12.6.7.1 Market Size and Forecast, By Facility
- 12.6.7.2 Market Size and Forecast, By Light
- 12.6.7.3 Market Size and Forecast, By Growing System
- 12.6.7.4 Market Size and Forecast, By Crop Type
- 12.6.8 Malaysia
- 12.6.8.1 Market Size and Forecast, By Facility
- 12.6.8.2 Market Size and Forecast, By Light
- 12.6.8.3 Market Size and Forecast, By Growing System
- 12.6.8.4 Market Size and Forecast, By Crop Type
- 12.6.9 Rest of Asia
- 12.6.9.1 Market Size and Forecast, By Facility
- 12.6.9.2 Market Size and Forecast, By Light
- 12.6.9.3 Market Size and Forecast, By Growing System
- 12.6.9.4 Market Size and Forecast, By Crop Type
- 13 Latin America Plant Factory Market Analysis and Forecast (2023-2030)
- 13.1 Introduction
- 13.2 Latin America Plant Factory Market Share Analysis, By Facility
- 13.3 Latin America Plant Factory Market Size and Forecast, By Light
- 13.4 Latin America Plant Factory Market Size and Forecast, By Growing System
- 13.5 Latin America Plant Factory Market Size and Forecast, By Crop Type
- 13.6 Latin America Plant Factory Market Size and Forecast, By Country
- 13.6.1 Brazil
- 13.6.1.1 Market Size and Forecast, By Facility
- 13.6.1.2 Market Size and Forecast, By Light
- 13.6.1.3 Market Size and Forecast, By Growing System
- 13.6.1.4 Market Size and Forecast, By Crop Type
- 13.6.2 Argentina
- 13.6.2.1 Market Size and Forecast, By Facility
- 13.6.2.2 Market Size and Forecast, By Light
- 13.6.2.3 Market Size and Forecast, By Growing System
- 13.6.2.4 Market Size and Forecast, By Crop Type
- 13.6.3 Colombia
- 13.6.3.1 Market Size and Forecast, By Facility
- 13.6.3.2 Market Size and Forecast, By Light
- 13.6.3.3 Market Size and Forecast, By Growing System
- 13.6.3.4 Market Size and Forecast, By Crop Type
- 13.6.4 Peru
- 13.6.4.1 Market Size and Forecast, By Facility
- 13.6.4.2 Market Size and Forecast, By Light
- 13.6.4.3 Market Size and Forecast, By Growing System
- 13.6.4.4 Market Size and Forecast, By Crop Type
- 13.6.5 Chile
- 13.6.5.1 Market Size and Forecast, By Facility
- 13.6.5.2 Market Size and Forecast, By Light
- 13.6.5.3 Market Size and Forecast, By Growing System
- 13.6.5.4 Market Size and Forecast, By Crop Type
- 13.6.6 Venezuela
- 13.6.6.1 Market Size and Forecast, By Facility
- 13.6.6.2 Market Size and Forecast, By Light
- 13.6.6.3 Market Size and Forecast, By Growing System
- 13.6.6.4 Market Size and Forecast, By Crop Type
- 13.6.7 Rest of Latin America
- 13.6.7.1 Market Size and Forecast, By Facility
- 13.6.7.2 Market Size and Forecast, By Light
- 13.6.7.3 Market Size and Forecast, By Growing System
- 13.6.7.4 Market Size and Forecast, By Crop Type
- 14 Middle East Plant Factory Market Analysis and Forecast (2023-2030)
- 14.1 Introduction
- 14.2 Middle East Plant Factory Market Share Analysis, By Facility
- 14.3 Middle East Plant Factory Market Size and Forecast, By Light
- 14.4 Middle East Plant Factory Market Size and Forecast, By Growing System
- 14.5 Middle East Plant Factory Market Size and Forecast, By Crop Type
- 14.6 Middle East Plant Factory Market Size and Forecast, By Country
- 14.6.1 Saudi Arabia
- 14.6.1.1 Market Size and Forecast, By Facility
- 14.6.1.2 Market Size and Forecast, By Light
- 14.6.1.3 Market Size and Forecast, By Growing System
- 14.6.1.4 Market Size and Forecast, By Crop Type
- 14.6.2 UAE
- 14.6.2.1 Market Size and Forecast, By Facility
- 14.6.2.2 Market Size and Forecast, By Light
- 14.6.2.3 Market Size and Forecast, By Growing System
- 14.6.2.4 Market Size and Forecast, By Crop Type
- 14.6.3 Egypt
- 14.6.3.1 Market Size and Forecast, By Facility
- 14.6.3.2 Market Size and Forecast, By Light
- 14.6.3.3 Market Size and Forecast, By Growing System
- 14.6.3.4 Market Size and Forecast, By Crop Type
- 14.6.4 Kuwait
- 14.6.4.1 Market Size and Forecast, By Facility
- 14.6.4.2 Market Size and Forecast, By Light
- 14.6.4.3 Market Size and Forecast, By Growing System
- 14.6.4.4 Market Size and Forecast, By Crop Type
- 14.6.5 South Africa
- 14.6.5.1 Market Size and Forecast, By Facility
- 14.6.5.2 Market Size and Forecast, By Light
- 14.6.5.3 Market Size and Forecast, By Growing System
- 14.6.5.4 Market Size and Forecast, By Crop Type
- 14.6.6 Rest of Middle East & Africa
- 14.6.6.1 Market Size and Forecast, By Facility
- 14.6.6.2 Market Size and Forecast, By Light
- 14.6.6.3 Market Size and Forecast, By Growing System
- 14.6.6.4 Market Size and Forecast, By Crop Type
- 15 Competitive Analysis
- 15.1 Competition Dashboard
- 15.2 Market share Analysis of Top Vendors
- 15.3 Key Development Strategies
- 16 Company Profiles
- 16.1 Mirai
- 16.1.2 Offerings
- 16.1.3 Key Financials
- 16.1.4 Business Segment & Geographic Overview
- 16.1.5 Key Market Developments
- 16.1.6 Key Strategies
- 16.2 Plenty Unlimited Inc
- 16.2.1 Overview
- 16.2.2 Offerings
- 16.2.3 Key Financials
- 16.2.4 Business Segment & Geographic Overview
- 16.2.5 Key Market Developments
- 16.2.6 Key Strategies
- 16.3 Gotham Greens
- 16.3.1 Overview
- 16.3.2 Offerings
- 16.3.3 Key Financials
- 16.3.4 Business Segment & Geographic Overview
- 16.3.5 Key Market Developments
- 16.3.6 Key Strategies
- 16.4 Agricool
- 16.4.1 Overview
- 16.4.1 Overview
- 16.4.2 Offerings
- 16.4.3 Key Financials
- 16.4.4 Business Segment & Geographic Overview
- 16.4.5 Key Market Developments
- 16.4.6 Key Strategies
- 16.5 AppHarvest
- 16.5.1 Overview
- 16.5.2 Offerings
- 16.5.3 Key Financials
- 16.5.4 Business Segment & Geographic Overview
- 16.5.5 Key Market Developments
- 16.5.6 Key Strategies
- 16.6 Aerofarms
- 16.6.1 Overview
- 16.6.2 Offerings
- 16.6.3 Key Financials
- 16.6.4 Business Segment & Geographic Overview
- 16.6.5 Key Market Developments
- 16.6.6 Key Strategies
- 16.7 CropOne
- 16.7.1 Overview
- 16.7.2 Offerings
- 16.7.3 Key Financials
- 16.7.4 Business Segment & Geographic Overview
- 16.7.5 Key Market Developments
- 16.7.6 Key Strategies
- 16.8 Bowery Farming Inc
- 16.8.1 Overview
- 16.8.2 Offerings
- 16.8.3 Key Financials
- 16.8.4 Business Segment & Geographic Overview
- 16.8.5 Key Market Developments
- 16.8.6 Key Strategies
- 16.9 Oishii
- 16.9.1 Overview
- 16.9.2 Offerings
- 16.9.3 Key Financials
- 16.9.4 Business Segment & Geographic Overview
- 16.9.5 Key Market Developments
- 16.9.6 Key Strategies
- 16.10 Bright Farms
- 16.10.1 Overview
- 16.10.2 Offerings
- 16.10.3 Key Financials
- 16.10.4 Business Segment & Geographic Overview
- 16.10.5 Key Market Developments
- 16.10.6 Key Strategies
- 16.11 Lufa Farms
- 16.11.1 Overview
- 16.11.2 Offerings
- 16.11.3 Key Financials
- 16.11.4 Business Segment & Geographic Overview
- 16.11.5 Key Market Developments
- 16.11.6 Key Strategies
- 16.12 Farminova Plant Factory
- 16.12.1 Overview
- 16.12.2 Offerings
- 16.12.3 Key Financials
- 16.12.4 Business Segment & Geographic Overview
- 16.12.5 Key Market Developments
- 16.12.6 Key Strategies
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