The Worldwide Plant Factory Industry is Expected to Reach $172.5 Billion by 2026
DUBLIN, Sept. 1, 2021 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, 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 One of the major drivers is that it provides higher yield compared to traditional agricultural techniques, owing to the increase in harvest cycles.
By facility type, greenhouses are projected to dominate the market during the forecast period.
Greenhouses are high-tech structures dedicated to the cultivation of plants, particularly vegetables, flowers, and fruits. Environmental elements such as temperature, light exposure, irrigation, fertilization, humidity, and ventilation 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 light type, sunlight is projected to dominate the market during the forecast period.
Some plant factories prefer and utilize natural light sources, i.e., sunlight. However, it is suitable for places with a significant amount of sunlight necessary for the growth of indoor plants. Greenhouse farms generally use natural sunlight. For sustainable production, the use of freely available sunlight is preferred.
The European region is projected to record the highest growth rate during the forecast period.
The evolution of plant factories or Controlled Environment Agriculture (CEA) and commercial greenhouses took place in Europe due to the favorable situations for adopting the CEA technique of farming and automation technologies and the encouragement from governments. Many Europe-based companies have invested significantly in the research of various areas of greenhouse automation, hydroponics, aeroponics, aquaponics, including climate control, lighting, and material handling, among others. As a result of the all-around development in plant factories, Europe has become a major market for plant factory.
The plant factory market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, South America and Rest of the World including Africa and the Middle East.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Plant Factory Market
4.2 Plant Factory Market: Major Regional Submarkets
4.3 North America: Plant Factory Market, by Type & Country
4.4 Plant Factory Market, by Facility Type & Region
4.5 Plant Factory Market, by Growing System
4.6 Plant Factory Market, by Crop Type
4.7 Plant Factory Market, by Light Type
4.8 Plant Factory Market, by Key Country
5 Market Overview
5.1 Introduction
5.2 Macroeconomic Indicators
5.2.1 Increasing Global Population
5.2.2 Rapid Urbanization
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Higher Yield as Compared to Traditional Agriculture Practices
5.3.1.2 Lesser Impact of External Weather Conditions
5.3.1.3 Rise in Demand for Food Due to Increasing Population and Challenges of Climate Change
5.3.1.3.1 Rise in Disposable Incomes Are Leading to Increased Expenditure on Food, Fueling Demand for Food Products
5.3.2 Restraints
5.3.2.1 High Capital Investments
5.3.2.2 Requirement of High-Precision Environment
5.3.3 Opportunities
5.3.3.1 Increased Adoption of Plant Factories by Restaurants and Grocery Stores Amid the COVID-19 Pandemic
5.3.3.1.1 Increased Agri-Food Export Among Countries Fuels the Demand for Ample Yield All-Year-Round
5.3.3.2 Rise in Demand for Floriculture and Ornamental Horticulture
5.3.3.2.1 Availability of Disposable Income Allows Consumers to Spend on Floriculture and Other Ornamental Horticulture Products
5.3.4 Challenges
5.3.4.1 Tapping into the Organic Food Market
5.3.4.1.1 Augmented Demand for Organic Food Products in Developed Countries
5.3.4.1.2 Debate Over Certification of Food Grown in Plant Factories as "Organic"
5.3.4.2 Risk of Equipment Failure and Delay in the Learning Curve Among Growers
5.3.4.3 Spread of Waterborne Diseases and Algae in Closed Systems
5.4 COVID-19 Impact on the Plant Factory Market
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Supply Chain Analysis & Market Ecosystem Mapping
6.3.1 Supply Chain Analysis
6.3.2 Raw Material Sourcing
6.3.3 System and Technology Provision
6.3.4 Consulting, Management, and End-users
6.3.5 Market Ecosystem Mapping
6.3.5.1 Demand Side
6.3.5.2 Supply Side
6.3.6 Plant Factory: Market Map
6.4 Technology Analysis
6.5 Yc-Ycc Shift
6.6 Patent Analysis
6.6.1 List of Major Patents [Plant Factory/Controlled Environment Agriculture (Crops & Technologies)]
6.7 Porter's Five Forces Analysis
6.7.1 Degree of Competition
6.7.2 Bargaining Power of Buyers
6.7.3 Bargaining Power of Suppliers
6.7.4 Threat of Substitutes
6.7.5 Threat of New Entrants
6.8 Pricing Analysis
6.9 Trade Analysis
6.10 Case Studies
7 Regulations
7.1 North America
7.2 Europe
7.3 North America
7.4 Asia-Pacific
7.4.1 India
7.4.2 China
7.4.3 Japan
8 Plant Factory Market, by Growing System
8.1 Introduction
8.1.1 COVID-19 Impact on the Plant Factory Market Size, by Growing System
8.1.1.1 Realistic Scenario
8.1.1.2 Optimistic Scenario
8.1.1.3 Pessimistic Scenario
8.2 Non-Soil-Based
8.2.1 Non-Soil-Based Systems Offer Better Yield and Quality of Produce Compared to Soil-Based Systems
8.2.2 Hydroponics
8.2.3 Aeroponics
8.2.4 Aquaponics
8.3 Soil-Based
8.3.1 Soil-Based Growing Systems-A Tactical Alternative to Traditional Soil-Based Agriculture
8.4 Hybrid
8.4.1 Hybrid Systems to Offer a Dual Advantage for Optimum Production
9 Plant Factory Market, by Facility Type
9.1 Introduction
9.1.1 COVID-19 Impact on the Plant Factory Market Size, by Facility Type
9.1.1.1 Realistic Scenario
9.1.1.2 Optimistic Scenario
9.1.1.3 Pessimistic Scenario
9.2 Greenhouses
9.2.1 Greenhouses Provide Higher Profitability and Growth Prospects Compared to Other Cea Facilities
9.3 Indoor Farms
9.3.1 Indoor Farms Help Bring Production Operations Closer to Population Centers
9.4 Other Facility Types
9.4.1 The Unavailability of Arable Land Drives the Market for Cea Facilities
10 Plant Factory Market, by Crop Type
10.1 Introduction
10.1.1 COVID-19 Impact on the Plant Factory Market Size, by Crop Type
10.1.1.1 Realistic Scenario
10.1.1.3 Pessimistic Scenario
10.2 Fruits
10.2.1 Benefits of Year-Round Harvests Supplement Fruit Cultivation in Plant Factories
10.2.2 Berries
10.2.2.1 Seasonal Availability of Berries to Fuel the Need for Production in Plant Factories
10.2.3 Other Fruits
10.2.3.1 Melons and Grapes Are Among the Optimum Choices for Controlled Environment Production
10.3 Vegetables
10.3.1 Ease of Production in Plant Factories to Drive the Demand for Vegetables
10.3.2 Tomato
10.3.2.1 Enhanced Nutritive Value of Tomatoes Grown in Plant Factories to Drive the Demand
10.3.3 Leafy Greens
10.3.3.1 Enhanced Shelf-Life Due to Cea to Propel the Demand for Leafy Greens
10.3.3.1.1 Lettuce
10.3.3.1.2 Kale
10.3.3.1.3 Spinach
10.3.3.1.4 Other Leafy Greens
10.3.4 Eggplant
10.3.4.1 High Sensitivity to External Conditions to Augment the Production of Eggplant in Plant Factories
10.3.5 Herbs & Microgreens
10.3.5.1 Microgreens Are Increasingly Grown in Plant Factories to Retain the Peak Flavor Intensity
10.3.5.1.1 Basil
10.3.5.1.2 Herbs
10.3.5.1.3 Tarragon
10.3.5.1.4 Wheatgrass
10.3.6 Other Vegetables
10.3.6.1 Vining Properties of Vegetables to Augment the Need for Enclosed Agricultural Methods
10.4 Flower & Ornamental
10.4.1 The Fast-Growing Floriculture Industry to Drive the Plant Factory Market
10.4.2 Perennials
10.4.2.1 Ease of Production to Drive the Market for Perennials Produced in Plant Factories
10.4.3 Annuals
10.4.3.1 Ornamental Annuals Widely Cultivated in Indoor Farms and Greenhouses
10.4.4 Biennial
10.4.4.1 Longer Growth Periods of Biennials to Propel Their Production in Secure Environments
10.5 Other Crop Types
10.5.1 Legalization to Drive the Demand for Cannabis Produced in Plant Factories
11 Plant Factory Market, by Light Type
11.1 Introduction
11.2 COVID-19 Impact Analysis, by Light Type
11.3 Full Artificial Light
11.4 Sunlight
12 Plant Factory Market, by Region
13 Competitive Landscape
14 Company Profiles
14.1 Key Players
14.1.1 Aerofarms
14.1.2 Gotham Greens
14.1.3 Bowery Farming
14.1.4 Oishii
14.1.5 Plenty Unlimited Inc
14.1.6 Mirai Co. Ltd.
14.1.7 Agricool
14.1.8 Appharvest
14.1.9 Crop One
14.1.10 Brightfarms
14.2 Other Players
14.2.1 Farminova Plant Factory N.V.
14.2.2 Taikisha Ltd.
14.2.3 Iron Ox
14.2.4 Vertical Harvest
14.2.5 Smallhold
14.2.6 Badia Farms
14.2.7 Farmone
14.2.8 Kalera
14.2.9 Sky Greens
14.2.10 Dream Harvest Farming Company LLC
15 Adjacent & Related Markets
16 Appendix
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