Plant Factory Market by Growing System (Hybrid, Non-soil-based, and Soil-based), Light Type (Full Artificial Light and Sunlight), Facility Type, and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

Plant Factory Market Size

The global Plant Factory market size was valued at $136.94 billion in 2023 and is projected to reach $217.30 billion by 2029, growing at a CAGR of 8.0% during the forecast period.

Plant Factory Market Dynamics

• 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, the recent advances in urban farming and the emergence of vertical farming technology have further fueled the growth of this market.

• However, the risk of equipment failure, delays in the learning curve among growers, and the spread of waterborne diseases and algae in closed systems are restraining the market growth.

Plant Factory Market Overview

Plant factories have advanced significantly and are furnished with innovations for environment control, supplemental lighting, water system control, and material taking care of, among others. These control frameworks direct interior conditions, for example, temperature, dampness levels, light force, and correspondence advances for remotely observing the plant industrial facility boundaries. Since the mid-1980s, this industry started to acquire significance among producers, significantly because of the unparalleled yield from this innovation.

By Facility Type, the Greenhouses Segment emerges as the Dominant Segment

The greenhouses segment is emerged as the dominant segment during the forecast period. Greenhouses are high-tech structures dedicated to the cultivation of plants, particularly vegetables, flowers, and fruits. Environmental elements such as humidity, light exposure, irrigation, ventilation fertilization, and temperature can be controlled and monitored for optimal crop growth. Commercial greenhouses typically cultivate crops in large volumes for consumers; research greenhouses are suited for plant science and medicinal horticulture.

By Geography, Europe Region is Growing at a Faster Pace

Europe dominated the plant factory industry during the forecast period. Its urban populace is developing at a consistent rate and is expected to comprise around 80% of the absolute populace of Europe. Also, being powerless, the food framework is placing a consistent effect on environmental degradation. With the approach of such issues, urban farming came into the image as one of the advancement innovations to deliver crops with reasonable practices without hurting the climate by and large. It has been seen that the farming area is the significant wellspring of tension on Europe's current circumstance, which has some way or another made the need to foster innovations that can upgrade food creation in the locale without compressing the climate any longer.

Some of the Key Players Profiled in the Report Include:

• Aerofarms
• AppHarvest
• Bowery Farming
• Brightfarms
• Crop One
• Dream Harvest Farming Company LLC
• Farminova
• Gotham Greens
• Kalera
• Mirai Co. Ltd.

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Growing System:
• Hybrid
• Non-soil-based
• Soil-based

Market by, Light Type:
• Full Artificial Light
• Sunlight

Market by, Facility Type:
• Greenhouses
• Indoor Farms
• Other Facility Types

Market by, Crop Type:
• Flower & Ornamental
• Fruits
• Vegetables
• Other Crop Types

Market by, Geography:

The Plant Factory Market report also analyzes the major geographic regions and countries for the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis.

Table Of Content

1 Market Overview             
    1.1 Introduction         
    1.2 Research Objectives        
    1.3 Market Segmentation        
    1.4 Stakeholders         
    1.5 List of Acronyms         
               
2 Executive Summary             
               
3 Research Methodology            
    3.1 Identification of Data        
    3.2 Evaluation of Market Dynamics       
    3.3 Collaboration of Data         
    3.4 Verification and Analysis        
    3.5 Data Sources         
    3.6 Assumptions         
               
4 Market Dynamics             
    4.1 Market Drivers         
           4.1.1 Lesser Impact of External Weather Conditions
           4.1.2 Higher Yield as Compared to Traditional Agriculture Practices
    4.2 Market Restraints         
           4.2.1 High Capital Investments 
           4.2.2 Requirement of High-Precision Environment
    4.3 Market Opportunities        
           4.3.1 Rising Adoption of Plant Factories by Grocery Stores and Restaurants
    4.4 Market Challenges         
           4.4.1 Risk of Equipment Failure 
    4.5 Impact of COVID-19 on Plant Factory Market      
                     
5 Porter's Five Force Analysis            
    5.1 Bargaining Power of Suppliers        
    5.2 Bargaining Power of Buyers        
    5.3 Threat of New Entrants        
    5.4 Threat of Substitutes        
    5.5 Competitive Rivalry in the Market        
               
6 Global Plant Factory Market by, Growing System          
    6.1 Overview         
    6.2 Hybrid          
    6.3 Non-soil-based         
    6.4 Soil-based         
               
7 Global Plant Factory Market by, Light Type          
    7.1 Overview         
    7.2 Full Artificial Light         
    7.3 Sunlight          
               
8 Global Plant Factory Market by, Facility Type          
    8.1 Overview         
    8.2 Greenhouses         
    8.3 Indoor Farms         
    8.4 Other Facility Types         
           8.4.1 Container Farms  
           8.4.2 Water Culture Farms 
               
9 Global Plant Factory Market by, Crop Type          
    9.1 Overview         
    9.2 Flower & Ornamental        
    9.3 Fruits          
    9.4 Vegetables         
    9.5 Other Crop Types         
           9.5.1 Plantation  
           9.5.2 Forage Crops  
               
10 Global Plant Factory Market by, Geography          
    10.1 Overview         
    10.2 North America         
             10.2.1 US 
             10.2.2 Canada 
             10.2.3 Mexico 
    10.3 Europe          
             10.3.1 Germany 
             10.3.2 France 
             10.3.3 UK 
             10.3.4 Italy 
             10.3.5 Spain 
             10.3.6 Rest of Europe
    10.4 Asia Pacific         
             10.4.1 China 
             10.4.2 Japan 
             10.4.3 India 
             10.4.4 South Korea
             10.4.5 Australia 
             10.4.6 New Zealand
             10.4.7 Rest of Asia Pacific
    10.5 South America         
             10.5.1 Brazil 
             10.5.2 Argentina
             10.5.3 Chile 
             10.5.4 Rest of South America
    10.6 Middle East & Africa        
             10.6.1 UAE 
             10.6.2 Saudi Arabia
             10.6.3 Qatar 
             10.6.4 Iran 
             10.6.5 South Africa
             10.6.6 Rest of Middle East & Africa
               
11 Key Developments             
               
12 Company Profiling             
    12.1 Aerofarms         
             12.1.1 Business Overview
             12.1.2 Product/Service Offering
             12.1.3 Financial Overview
             12.1.4 SWOT Analysis
             12.1.5 Key Activities
    12.2 AppHarvest         
    12.3 Bowery Farming         
    12.4 Brightfarms         
    12.5 Crop One          
    12.6 Dream Harvest Farming Company LLC       
    12.7 Farminova          
    12.8 Gotham Greens         
    12.9 Kalera           
    12.10 Mirai Co. Ltd.