Plant Factory Market by Growing System (Soil-based, Non-soil-based, and Hybrid), Facility Type (Greenhouses, Indoor Farms, Other Facility Types), Light Type, Crop Type (Vegetables, Fruits, Flowers & Ornamentals), and Region - Global Forecast to 2026

Northbrook, IL -- (SBWire) -- 12/13/2021 --The global plant factory market size is estimated to be valued at USD 121.8 billion in 2021 and projected to reach USD 172.5 billion by 2026, recording a CAGR of 7.2% during the forecast period.

Various factors have played a major role in driving the plant factory market growth across the globe. It is an efficient alternative to the rising concerns on food security and shrinking arable land since it provides growers the ability to cultivate crops even in the absence of soil. One of the major drivers is that it provides a higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles. Furthermore, plant factories eliminate the use of artificial ripening agents and pesticides, which helps create nutritionally superior vegetable products.

Download PDF Brochure

Plant factories reduce the farmer's consumption of resources, thereby enabling this farming technique to be adopted by most stakeholders, ranging from home gardeners to professional growers and supermarkets to restaurants. According to the UN reports on the global population, in 2018, plants grown in hydroponic systems have achieved a 20%–25% higher yield than the traditional agriculture system, with its productivity being 2–5 times higher. Also, owing to their controlled environmental conditions, the effect of climatic changes can be balanced with the help of these systems, thereby not affecting the annual crop production.

Impact of Covid-19 on Global Plant Factory Market:

There has been an escalated demand for safe and quality-assured food products due to the pandemic. COVID-19 pandemic has had a significant global impact, due to which several industries are facing dire consequences. The pandemic continues to have complex and far-reaching effects across the water-energy-ecosystem-food nexus. As an enabler of hundreds of millions of agricultural jobs in rural areas, the plant factory sector allows the functioning of the world's critical food production systems, livelihoods of the majority of the world's poor and is responsible for shifting to water-saving sustainable practices. Plant factory companies around the world have continued to function despite challenging circumstances. However, there have been multiple shocks impacting service delivery, such as fiscal constraints, interruption of supply chains due to travel restrictions, and lack of availability of labor.

The European plant factory market has been experiencing tremendous growth. Its urban population is growing at a constant rate and is expected to constitute around 80% of the total population of Europe. The imports of goods are observed to be one of the solutions to meet the increasing demand for food by urban citizens in the region.

Make an Inquiry

Key players in this market include AeroFarms (US), BrightFarms (US), Gotham Greens (US), Bowery Farming (US), AppHarvest (US), Plenty Unlimited Inc. (US), Mirai Co. Ltd. (Japan), Kalera (Norway), Farminova (Turkey), Taiksha Ltd. (Japan), Iron Ox (US), Agricool (France), Crop One (UAE), Vertical Harvest (US), Smallhold (US), Oishii (US), Badia Farms (UAE), Farmone (US), Sky Greens (Singapore), and Dream Harvest Farming LLC (US).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441